Saturday, April 19, 2014

Who'd a Thunk? (Shirley, Not Me!)

“The general public has little or no independent influence on policy making"

That's what a long term study shows after examining over 1,700 policies made under the misconception that majority opinion vis-a-vis voting, petitioning and mass special interest groups directed the formation of these policies.  I never, never, (for real) would have guessed!  I thought everyone that I elected by vote, hung on knowing my opinion before deciding the good for the country...including me.

Rather than me reiterating what the study indicates or the rather eloquent article in Yahoo Finance's "The Exchange" by Rick Newman**, I've provided links for you.  For those of you who are challenged by reading more than 500 words, click on the underlined words in the previous sentence.   For those of you who like me want to see the original source without the synthesis of a "reporter" click on the paper title here: Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens

** Shirley, getting financial news from Yahoo is like checking a Milwaukee paper for Chicago weather, but Rick only made one lacuna:  He indicated that the Affordable Healthcare Act was NOT friendly to big business insurance.  Just who does he think is guarding the competitive insurance hen house?   But, that is post for another time.

Saturday, February 25, 2012

Consumerism = The New Spirituality


Wednesday, April 6, 2011

Do The Math!

The Federal Deficit is $1.3 tril, going to $1.4 tril

The Frank-Dodd Resolution allowed The Fed to give away $3.3 tril to 2,100 banks (not budgeted).

The cost of Medicare and Social Security is under $2tril (budgeted).

So, if you add back the $3.3 tril from bankers given away to the $1.3 tril deficit, you end up with $2 Tril which is the amount of Medicare and Social security.

It would only require payment of less than 4% of the money "loaned" to banks to keep the Federal Government running.

So Why....

is Congress trying to pay for an unbudgeted deficit with budgeted money, by cutting those services? Why not go to the banks and say. Hey guys, we over-extended and need to collect on the loans we gave you. They were loans, right?

The obvious is that we have a Republican Congress and traditionally, they have opposed social programs. Also, Medicare and Social Security become easy targets; especially given the scare tactic of socializing too much.

But a big part of it is that Obama is either too chickenshit to go after the bankers the way FDR in this same scenario, or he is part of the clan.

Banker-boy Obama
Where does Obama fit in this. For starters he's enmeshed in the government and as Charles Ferguson stated in a lecture to MIT: "The nation “has evolved a political duopoly where two political parties agree on things related to finance and money.” Without a political structure immune to such influence, Ferguson sees little likelihood of challenging the interests of the financial giants."

How enmeshed is Obama?. Lets take a look at his Financial Advisers:
-- Two ex-CEOs of Fannie Mae - Jim Johnson and Franklin Raines
-- Larry Summers - ex Chief Economist for the World Bank who wrote a memo encouraging financing of "dirty industries" (not exactly pro-Main St. thinking)

Obama also rewarded Goldman Sachs exectutive Phillip Murphy for his role in destroying the economy, but making him Ambassador to Germany. Of the top ten contributors to Obama's campaign included are: Goldman Sachs, JP Morgan Chase; Citigroup and UBS; a bank who was caught breaking sanctions to fund Iran's uranium enrichment program. Obama is a died in the wool Free Market Banking Lobbiest

And now we stand at the cusp of a government shutdown with the focus on taking away services from the Main St. taxpayers instead of collecting the banking welfare from those who created this problem. If H.R. 1 which was introduced and passed by the House is any indication, $51bn is what would be required to keep the Federal Government running; at least that what they claimed needed to be cut from social programs to keep the government running. That's only 3.9% of the $3.3tril bankster give away.