As Larry Summers makes his way through the evolving door, readying himself to promote the next great disaster, Obama is left to find someone equally as incompetent to fill his shoes. Sadly though, Obama has a lot of ready candidates who carry these same character traits and flaws. And Washington is, after all, an equal opportunity employer, which, in substance, means they hire the mentally challenged without regard to their station in life.
Summers career in Washington is filled with so many misjudgments that the “science” he professes can be summed up with just two words --“VooDoo Science.” His legacy will be an embarrassment for two presidents, Clinton and Obama. Hopefully, he will retire from politics permanently, although it is doubtful. In Washington, the inept are rewarded with promotions and longevity.
In the view of Summers, both unemployment insurance and welfare payments are major contributors to unemployment. His position was an advocacy for their reduction.
This view is held by many economists today. However, their view is narrow and nearsighted. Unemployment and welfare payments do not contribute to or create unemployment; they only support those who are unemployed. But then no one has ever claimed economists are very bright.
As a perfect example, with 17- plus million Americans out of work, does Summers presume to think that by eliminating unemployment insurance they will suddenly find work?
Summers background was a perfect match for a government position as he has never gotten it right. And, after all, isn’t that how government really works? While at the World Bank in December 1991, Summers proposed dumping toxic waste in third world countries for economic reasons. Jose Lutzenberger, a Brazilian environmentalist, wrote to Summers that his proposal was “perfectly logical but totally insane” and showed how out of touch with reality economists are.
Summers, while in the Clinton White House, argued against American leadership in greenhouse gas reductions and against U.S. participation in the Kyoto Protocol. Summers also supported the Gramm-Leach-Bliley Act in 1999, which lifted more than six decades of restrictions against banks offering commercial banking, insurance, and investment services. The Gramm-Leach-Bliley Act repealed key provisions of the 1933 Glass-Steagall Act, which has been acknowledged to have been the catalyst for the financial crisis.
Many critics, including President Obama, have suggested the subprime mortgage financial crisis of 2007 was caused by the partial repeal of the 1933 Glass-Steagall Act. Yet, Obama retained Summers in his White House staff. Even though Summers had discredited himself, Obama continued to use him as an advisor.
It was Summers, along with Arthur Levitt, (SEC) Chairman; Alan Greenspan, Fed Chairman, and Secretary Rubin, who together prevented all efforts to regulate the derivatives (Credit Default Swaps) that many blame for bringing the financial market down in Fall 2008. These derivatives are still wringing the financial necks of most U.S. Banks. So, to all these problems Summers has created, we now bid a fond ado. He will be sorely missed in Washington, but not by Main Street.
Wednesday, September 29, 2010
Friday, September 17, 2010
Why American Jobs are being outsourced
America once the epitome of the free enterprise system and capitalism has over the years fallen from grace, in fact over the past 10 years the fall has been substantial.
How did we decline so far so fast?
The beginning of the end really began as a part and parcel of Reaganomics, building an American empire, and the capitalist version of it. The idea was that business could prosper better in third world environments where laws were lax, and child labor protection was non existent, In short America prior to 1938.
During the early part of the 20th century states attempted to pass laws protecting children, however as we are finding today, the Supreme Court was out of step with the times. In each instance, the case brought before the Supreme Court was ruled against the state interest and the interest of the children. It wasn’t until 1941 that an act of the US congress passed in 1938 was found to be constitutional “The Fair Labor Standards Act”
For the next 40 years, manufacturers were required to hire children only over age of 16, and they were limited in the number of hours, and type of jobs they were allowed to work.
In addition environmental laws made it too expensive to operate some businesses in the States. So under Reagan a plan was developed which promoted outsourcing of American jobs, they went first to South America . Under Reagan more than 2200 businesses representing several million workers were displaced
Today in developing countries 250 million children age 5 to 14 are working without child labor law protections, and they are producing almost every product we purchase. With capitalism, there is a tremendous advantage and reason to move to these countries, it’s called profits!
As manufacturers began to move out of the United States there developed a worker backlash. Detroit began with its concept of planned obsolescence, as early as the 1920’s, to produce a product that would last for only a short time, then requiring new purchases.
This manufacture model allowed Japan to gain a real foothold on the American consumer and the auto industry began a decline in earnest in the 1960’s and 1970’s.
Planned obsolescence was a concept that came about in the US as early as the 1920’s, and 30’s the real and secret logic behind it was to conceal the real cost of the object, by giving the consumer a product that had a limited life expectancy.
By the 1960’s and 1970’s American consumers were turning to Japanese automobiles which offered a longer life product use, and a cheaper price tag.
Today consumers still have no idea they are being abused by capitalist theories of profits. Just what it will take to wake us up is the all time question?
How did we decline so far so fast?
The beginning of the end really began as a part and parcel of Reaganomics, building an American empire, and the capitalist version of it. The idea was that business could prosper better in third world environments where laws were lax, and child labor protection was non existent, In short America prior to 1938.
During the early part of the 20th century states attempted to pass laws protecting children, however as we are finding today, the Supreme Court was out of step with the times. In each instance, the case brought before the Supreme Court was ruled against the state interest and the interest of the children. It wasn’t until 1941 that an act of the US congress passed in 1938 was found to be constitutional “The Fair Labor Standards Act”
For the next 40 years, manufacturers were required to hire children only over age of 16, and they were limited in the number of hours, and type of jobs they were allowed to work.
In addition environmental laws made it too expensive to operate some businesses in the States. So under Reagan a plan was developed which promoted outsourcing of American jobs, they went first to South America . Under Reagan more than 2200 businesses representing several million workers were displaced
Today in developing countries 250 million children age 5 to 14 are working without child labor law protections, and they are producing almost every product we purchase. With capitalism, there is a tremendous advantage and reason to move to these countries, it’s called profits!
As manufacturers began to move out of the United States there developed a worker backlash. Detroit began with its concept of planned obsolescence, as early as the 1920’s, to produce a product that would last for only a short time, then requiring new purchases.
This manufacture model allowed Japan to gain a real foothold on the American consumer and the auto industry began a decline in earnest in the 1960’s and 1970’s.
Planned obsolescence was a concept that came about in the US as early as the 1920’s, and 30’s the real and secret logic behind it was to conceal the real cost of the object, by giving the consumer a product that had a limited life expectancy.
By the 1960’s and 1970’s American consumers were turning to Japanese automobiles which offered a longer life product use, and a cheaper price tag.
Today consumers still have no idea they are being abused by capitalist theories of profits. Just what it will take to wake us up is the all time question?
Friday, September 10, 2010
What we should have learned from 9-11?
Certainly 9-11 was a tragic event, and no doubt will go down in the annuals of history equal to that of Pearl Harbor .
But the times are very different, and the reasons are also very different.
Yet there is some commonality to both. The “facts” submitted by conspiracy theorists, and there are as many as the days of the year, present the same scenario with logic and common sense to both.
With the events of Pearl Harbor, theorists present evidence that the government knew about the pending Japanese attack, and even forced Japan ’s hand by threatening them to give up Manchuria .
They theorize with logic, that this was the only way to unite the American people to go to war!
That was December 7 1941…
Sixty years later September 11, 2001…
The world trade center is attacked allegedly by 12 men from Saudi Arabia , with suspicion, theorist’s question how the passports of four (4) alleged hijackers were found intact Satam al Suqami's passport was found slightly charred in rubble that had been completely reduced to dust.
Two passports were alleged to have been recovered from the crash site of UA93 in Pennsylvania and the fourth from the alleged hijacker on AA11
There is enough facts to warrant suspicion of the governments account.
All in all 9-11 has made American’s aware that their own government can’t be trusted, and if we achieve no other benefit from 9-11 that in itself is an important milestone.
Five (5) years after 9-11 Scripps Howard took a poll of America ’s belief about the attack, more than one third of America believes the Federal government is implicated, either assisting, or aiding in the events.
In support of this theory fingers are pointed to insider knowledge, there was an uncanny amount of money invested in put options placed for United Airlines 4,744 "put" option contracts and 4,516 “put” options for American airlines stocks. Somebody or group knew in advance and acted to reap the benefits.
Setting aside for the moment the potential issues those “found” Passports represent. What have we as a people learned? What could make men so willing to give up their lives for a cause, and what might that cause be?
Tyranny and oppression Reigns so freely around the world, with 1989 presenting a prime example. Tiananmen Square, China .
Tiananmen Square was a stand by an oppressed people seeking democracy, 3000 student protestors were killed by their own countrymen, because they wanted freedom.
And our counterpart, Kent State , May 4, 1970, the Ohio National guard opened fire on peaceful student demonstrators killing 4, and wounding scores. Why because of Vietnam , a war the people didn’t want.
But these are symbols of oppression; the reality is that any oppressed people will act out. The common dream of “all” humanity is freedom. Without freedom, there is only slavery, and in that case, what is a life worth?
When the most powerful, and most influential nation in the world supports governments which are viewed by their own people as tyrants and dictators, America is setting itself up to be a target. And we have done just that.
Unfortunately we seem to have lost the spirit necessary to remain a free and democratic society. And as we have lost the spirit, we have lost the will to remain what we once stood for.
When America supports a regime that is oppressive we give the world the wrong message. If you recall February 21, 1972, with the Chinese economy and very government on the verge of collapse, Nixon makes a seven (7) day visit and supports the communist’s government.
The Hungarian revolution of 1956-57, was also about the dream of freedom.
Yet when we dream of freedom today, it seems to take a back seat to survival, this leaves us with the standing question, are we being used for capitalists as pawns in an elaborate game of world domination, or have we as a nation just been unlucky in those we choose to lead us.
But the times are very different, and the reasons are also very different.
Yet there is some commonality to both. The “facts” submitted by conspiracy theorists, and there are as many as the days of the year, present the same scenario with logic and common sense to both.
With the events of Pearl Harbor, theorists present evidence that the government knew about the pending Japanese attack, and even forced Japan ’s hand by threatening them to give up Manchuria .
They theorize with logic, that this was the only way to unite the American people to go to war!
That was December 7 1941…
Sixty years later September 11, 2001…
The world trade center is attacked allegedly by 12 men from Saudi Arabia , with suspicion, theorist’s question how the passports of four (4) alleged hijackers were found intact Satam al Suqami's passport was found slightly charred in rubble that had been completely reduced to dust.
Two passports were alleged to have been recovered from the crash site of UA93 in Pennsylvania and the fourth from the alleged hijacker on AA11
There is enough facts to warrant suspicion of the governments account.
All in all 9-11 has made American’s aware that their own government can’t be trusted, and if we achieve no other benefit from 9-11 that in itself is an important milestone.
Five (5) years after 9-11 Scripps Howard took a poll of America ’s belief about the attack, more than one third of America believes the Federal government is implicated, either assisting, or aiding in the events.
In support of this theory fingers are pointed to insider knowledge, there was an uncanny amount of money invested in put options placed for United Airlines 4,744 "put" option contracts and 4,516 “put” options for American airlines stocks. Somebody or group knew in advance and acted to reap the benefits.
Setting aside for the moment the potential issues those “found” Passports represent. What have we as a people learned? What could make men so willing to give up their lives for a cause, and what might that cause be?
Tyranny and oppression Reigns so freely around the world, with 1989 presenting a prime example. Tiananmen Square, China .
Tiananmen Square was a stand by an oppressed people seeking democracy, 3000 student protestors were killed by their own countrymen, because they wanted freedom.
And our counterpart, Kent State , May 4, 1970, the Ohio National guard opened fire on peaceful student demonstrators killing 4, and wounding scores. Why because of Vietnam , a war the people didn’t want.
But these are symbols of oppression; the reality is that any oppressed people will act out. The common dream of “all” humanity is freedom. Without freedom, there is only slavery, and in that case, what is a life worth?
When the most powerful, and most influential nation in the world supports governments which are viewed by their own people as tyrants and dictators, America is setting itself up to be a target. And we have done just that.
Unfortunately we seem to have lost the spirit necessary to remain a free and democratic society. And as we have lost the spirit, we have lost the will to remain what we once stood for.
When America supports a regime that is oppressive we give the world the wrong message. If you recall February 21, 1972, with the Chinese economy and very government on the verge of collapse, Nixon makes a seven (7) day visit and supports the communist’s government.
The Hungarian revolution of 1956-57, was also about the dream of freedom.
Yet when we dream of freedom today, it seems to take a back seat to survival, this leaves us with the standing question, are we being used for capitalists as pawns in an elaborate game of world domination, or have we as a nation just been unlucky in those we choose to lead us.
Thursday, September 2, 2010
Is This The Reason They Want All The Wild Horses Gone?!
Goldman Sachs behind major land grab in Nevada worth billions.
As the BLM removed the wild mustangs from their Northern Nevada Range land, and opened it up to solar energy companies, one that has NO experience in this area, Goldman Sachs, through one of its subsidiaries, grabbed up nearly half the land. Two GS subsidiaries filed 52 claims, obtaining the rights to more than 123,000 acres.
GS subsidiary, Cogentrix Solar Services LLC, which has NO solar experience, has a pending application for 13,440 acres on one site in northern Nevada and a second site claim for 22,400 acres in the same area.
GS holds a total of 10 out of 123 claims, which cover the 123,000 acres, half of the land the BLM plans to lease for solar energy production in the state. GS has not begun any of these projects. However, the BLM leases, although they cannot be sold outright, can be sold with a sale of the company, and that is where the scam is suspected. These claims could potentially be worth billions!
Is this some payback for the SEC fine levied against GS due to their fraud in dealing with their own investors? Or is this another fraud that has even pulled the wool over the eyes of an agency that already appears to be blind?. Stay Tuned!
As the BLM removed the wild mustangs from their Northern Nevada Range land, and opened it up to solar energy companies, one that has NO experience in this area, Goldman Sachs, through one of its subsidiaries, grabbed up nearly half the land. Two GS subsidiaries filed 52 claims, obtaining the rights to more than 123,000 acres.
GS subsidiary, Cogentrix Solar Services LLC, which has NO solar experience, has a pending application for 13,440 acres on one site in northern Nevada and a second site claim for 22,400 acres in the same area.
GS holds a total of 10 out of 123 claims, which cover the 123,000 acres, half of the land the BLM plans to lease for solar energy production in the state. GS has not begun any of these projects. However, the BLM leases, although they cannot be sold outright, can be sold with a sale of the company, and that is where the scam is suspected. These claims could potentially be worth billions!
Is this some payback for the SEC fine levied against GS due to their fraud in dealing with their own investors? Or is this another fraud that has even pulled the wool over the eyes of an agency that already appears to be blind?. Stay Tuned!
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