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The Bonus Scam

Posted by Logical Party on Thursday, February 05, 2009 4:00:00 PM

Wall Street and Pure Capitalists, like Larry Kudlow, keep up the canard of "attracting and keeping" executives. This is a scam theory not backed by facts.

 

Under the law of supply and demand, the very theorems Capitalists aspire, the market is flooded with talented people competing against one another, and Investment Houses, thanks to CEO's fine (greedy) efforts are disappearing or already gone.

 

Reggie Jackson was replaced. If all the CEO's on Wall Street perished on 9/11, the economy wouldn't have come to a grinding halt. The threat that they will be attracted or “lured away” by other entities is a fallacy. These are not the best of times, thanks to their failed strategies of high risk investments with no regard and reckless abandon.

 

If the Working Class negotiates with one's boss, the salary ceiling would be the amount that a boss would no longer pay because he can get cheaper workers elsewhere.

 

This is the way all companies should act regardless of federal funds, but fairness smacks in the face of capitalism.

 

And still, we have grown men and women putting in a hard week’s work, some back breaking, for minimum wage. What a National Disgrace that has now come back to harm our economy since "disposable income" makes the economic wheel go round.

 

David DiBello

Tags: economy  
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Economy by the Numbers

Posted by Logical Party on Sunday, January 11, 2009 7:00:00 PM

For those keeping track, stocks were up 262 on January 2nd and talk of a rebound was all abuzz, fostered by analysts who have an interest in instantaneous upswings i.e. CNBC and a return to the same old, same old unfetterred capitalism.

Then it fell 245, and after the first four days of trading in 2009, we have netted a growth of just over "3." Today we lost 125 points, and we are in the negative for the new year. This was based on bad profit numbers from major businesses. We have increasing unemployment figures still to hit the fan along with more mortgages in jeopardy since the sub prime "shock dates" mature this year, the final shoe to drop on this fraudulent industry.

Its time we stop putting stock in "impression" and start valuing the age old standards of hard work, savings and earnings. There will be no quick fixes and it is going to be a long year!

 
David DiBello
Tags: economy  
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Bailout a Catch 22

Posted by Logical Party on Monday, December 01, 2008 8:00:00 PM
Whether or not one feels a “bailout” should be made, has to be made otherwise we will turn into the next great depression. To renege is to cut one's own nose to spite one's own face.
Capitalist purists want the marketplace to rule and self correct, which will mean business failures, bankruptcies and foreclosures and an unemployment rate that will jump up to the high teens. 
Usually the purest are at the other end of the totem pole where an economic crisis is an inconvenience, not devastation.
 
The Citigroup "bailout" is a better crafted one in that the Government will be given preferred stock for its contribution (The U.S. can actually make money). This is our new economy, created by another supply side crash and burn, where our government has a financial share in many big businesses, rather than just a "say." A limited socialism, if you will, as the medicine for casino capitalism.
 
It was refreshing to hear the President elect’s honesty in stating our economy will get worse before it gets better. He left out we will no longer be able to resort to financial gimmickry - junk bonds, dot com's and real estate bubbles to over inflate our economy and its financial values.
 
Finally, I love the moderate and experienced course the President elect is taking on his Cabinet choices. Being a Hillary supporter, it’s nice to see the old Clinton gang together again.
 
David DiBello
Tags: economy  
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Americans Only Fear Unfair Competition!

Posted by Logical Party on Monday, June 30, 2008 12:00:00 AM
Listening to McCain espouse the ludicrous premise that Americans never feared competition was the standard Republican Stump Speech canard that masks what Americans do fear - unfair competition in the new global environment. We are tired of competiting against workers from foreign countries who are being paid $3 an hour. We are tired of our wages stagnating while our costs quadruple (tuition, healthcare, oil and food).
 
McCain went on to say US Students test scores, particularly in math, are lower than those students in industrialized nations. We are losing jobs to Mexico, India and China where they engage in slave labor and low wages. Their test scores aren't higher than our students, and if on an individual basis they are, they leave that country for where the grass is greener.
 
This is standard diatribe from the Republican party to protect big business, as with McCains call for another tax cut for corporations under the guise they will go out and hire more people as opposed to keeping additional profit for themselves. Add to that a call for renewal of the Bush tax cuts, something McCain previoulsy was against, and we'll only add to the $10 trillion deficit that has helped cripple our economy and devalue our dollar.
 
McCain is offering "same old, same old" and telling us like a drug dealer to take more to help the economy as we slowly kill ourselves. He is out of touch with middle America and the working class, both Republican and Democarat, and his policies given another eight years will take us from recession to depression - sans his ilk.
 
David DiBello
Tags: economy  
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END THE DICHOTOMY OF SPECULATION

Posted by Logical Party on Saturday, June 28, 2008 9:00:00 AM

The biggest beneficiaries of energy speculation are pension funds who are holding the American economy hostage to arbitrarily set rising oil prices by claiming reversal of the Senate’s decision to allow this unregulated practice will be detrimental to American’s pension portfolios.
This is the purest form of extortion by giving portfolio managers the ability to artificially inflate the value of crude oil under the theory that the high prices will give Americans a larger retirement nest egg, and it pits two segments of our population against one another: retirees and the ones nearing retirement, versus working class Americans in the beginning or middle of their careers that still have to make ends meet.
It is also Un-American and anti business. Stock trading is built upon the premise that one invests in the better good of a company, believing in their product or service, and predicting its positive growth in value as a going concern. If IBM increases in value, it is good for the stockholder, the firm, its employees and consumers. No one gets hurt as we do with commodities speculation, especially energy which currently has no rules to follow thanks to the Enron Loophole, and inflates the value of the cost of products both people and businesses rely on to conduct their lives.
We are hypnotically reinforced into thinking we need more and more for retirement, that pension funds have resorted to the “whatever works” mentality, rather than relying on altruistic investing on positive growth. They are the news drug dealers of this country leaving a wake of victims in their path, namely the working class.
Thus we have Pension interests pitted against working Americans, who now have to decrease the amount they send to their 401K or IRA because they can’t afford the higher cost of oil and all its collateral price increases in daily staples such as food that carries higher transportation costs. So the only people benefitting from higher crude oil prices are those who are retired or nearing retirement and have enough of a nest egg to absorb our new inflation, while working class Americans, who have seen their wages stagnate during the past eight years of global competition with third world countries, fall further behind in their quest to get by today.
This is the most perverse form of trading in that fund managers are betting not on their horse to finish win, place or show, but to come in last – the one with the highest costs. It’s about time Congress steps in and demands a return to trading in positive growth which is in Americans best interests as a whole.
David DiBello
Tags: economy  
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Reasonable Healthcare Is What We Want

Posted by Logical Party on Wednesday, June 25, 2008 8:00:00 PM
We are constantly told by Republicans the worn out theory that if government provided health insurance for those who don’t have it, then it would stand in line America provide housing and food as well. This is a smokescreen playing at Libertarian heartstrings at the expense of basic human decency.

No one is asking for Government to babysit Americans. I believe healthcare coverage should be available for all Americans as a moral minimum standard. We shouldn’t leave who lives or dies up to how much we make for a living, for then we truly have a Darwinian economy – survival of the richest.  

We never should have made healthcare a profit center, but since we have, we should, as the greatest country on the face of the earth, make sure that one’s very existence is maintained regardless of financial status. We are talking about life sustaining procedures where there is imminent danger, a basic safety net, a sign of our humanity. This is especially important in this capitalistic society where more and more people are either losing their coverage, or paying more for coverage from funds they don’t have. Eighty percent of all bankruptcies are due to health items that were charged and cannot be paid back.

Otherwise, without guaranteed coverage, we must admit we are animals. It’s baffling to hear the continued diatribe and subterfuge of “if we pay for this what next?” Especially from a party that espouses family values and believes God is a stockholder on their side.

Charitable contributions are wonderful, but government has to look at the needs of the whole, and count on sufficient revenues to protect their citizenry. Government must rely on a fixed revenue stream, not a variable prayer, and cannot function or be held hostage to the whims of charity. We are talking about basic needs provided for those sick and in pain, rather than hanging them out to dry. That is the measure of a great country.

David DiBello

Tags: economy  
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That Was Then, This Is Now

Posted by Logical Party on Tuesday, June 24, 2008 12:00:00 AM
Are Republcians aware of today's economy or totally out of touch when they cling to the standard stump speech of "55 months of continuous GDP growth," a growth that did not filter down in wages to the working class due to foreign competition via the global economy?
  
Can one pay tuition with that GDP growth? Or healthcare? Or rising prices for basic staples? Or pay down mortgages or provide for one's pension? Can we now tell our landlord "but we had 55 months of unprecedented GDP growth," or would the landlord be more interested in collecting the rent?
  
Where did it go? Better yet, where was it to begin? We couldn't even get trickled on this supply side go-round that will be ending like the last supply side economy - debt, foreclosures and unemployment.
  
Do Republicans really think we are sitting around saying "yeah, wow!" Are they under the impression that sticking to that standard line is going to get them re-elected? That was then and this is now. Where is the 55 months?
  
This November we will ask one question: Are we better off than we were four years ago?
  
Perhaps though, we should ask of the Republicans: "Do you really think we're that stupid?"
  
  
  David DiBello
Tags: economy  
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Bush in Denial; Like Father Like Son

Posted by Logical Party on Friday, February 29, 2008 11:00:00 AM
                                                                                Bush in Denial; Like Father Like Son
                                                                                             by David DiBello


President Bush declaring the US not in recession reminds me of his father's denial of the unemployment crisis in 1991 in spite of the 10% rate, and his refusal to extend benefits.
  
When will leaders learn that shocks to the system created by excessive tax cuts and fraudulent economies like junk bonds, dot com's, and mortgage and real estate only end up disasterous in the end (i.e Crash of Oct 1987, Recession in the early 90's, Foreign Investmet (bailout) of US Debt)? 

The Bush family's denial of the obvious is another example of how oblivious they and the Republican Party is towards the working class in this country, choosing to stick to demagougery about "GDP" and the global economy. As American wages remain stagnant or behind pace with costs, how many heads of household reamain at ease thinking they can pay rent, tuition or health cost with a good "GDP?"
  
The stereotype is the Republican Party is only concerned with the well off and big business. They are fulfilling that stereotype.
Tags: economy  
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