This latest page in developments since the financial crisis arose, has revealed the most outrageous failure of Wall Street in setting something akin to a reasonable function and place in the Economy into outright predation. This is on one hand to someone with some horse sense, obvious fleecing of the people through corruption and corporate greed. But I believe it is complex. I have been trying to understand just what happened:
America is in danger. Our economy is sick. Trends indicate we could be building in vast amounts of structural employment. I have tried to warn people since my thoughts on "adding real productive value" vs. "non-productive work" crystallized in my little theory of the "demand driven economy" in "Microtopia: A prototype community of the future".
Blog: August 8,2010
Criminals Of Wall Street:
Or how to destroy everything we've built up
since the first farm was planted on American Soil:
"lets have the people who we preyed upon pay our gambling losses so we can resume extracting enormous bonuses and plunder of the population and the very institutions we operate if necesarry, through co-opting the Government".
1. Worldwide Faith in American Financial Leadership has evaporated. Congratulations Wall Street. The world will do business with you, but understanding you serve your own interests in carving out personal wealth in as short a time as possible. The dollar has been declared if not dead, mortally wounded as the worlds reserve currency.
Well, here are the actual results:
August 11, 2010
Go to Truth to power for Gibbs finest hour
THE RICH GET RICHER AND THE REST STAY FROZEN AT BEST:
3. increasing return on wealth to the top 1 percent of americans from 36% in 1998 to 70% in 2010. Put another way, each time you receive a dollar in interest, someone in the top 1 percent collects 2 dollars and 25 cents, and he gets it 99 more times before it comes around to your next dollar, in other words you must wait for the person in the top 1 percent to have accumulated another 225 dollars before you are allowed to collect another dollar. 70 percent of the returns on your work is extracted by the top 1 percent. In addition to that, of the remaing 30 percent of your work you must give the government 1/3. so you end up having to do 5 dollars of work for every 1 dollar you keep.
2. The big banks, insurance companies, and the real estate industry, after preying on the vulnerable, and sucking all the money out of the american middle class and below, then have the audicity to demand that the very people you were extorting from must pay when your corrupt and criminal fraud collapses.
WHO ARE THE ARCHITECTS OF THE FINANCIAL FRAUD. Will the real criminals who make Madoff look like small potatoes in terms of the scale carnage who are they?
So WHAT SORT OF RULING CLASS SELLS OUT AND TRASHES THEIR OWN PEOPLE AND COUNTRY ?
For every dollar of value a worker creates no more than 25% should be extracted by government and wall street combined. At present it is more like 80%.
SOME REASONABLE GUIDELINES:
4. Since 1973, the bottom 90 percent have seen wages go up 10%, while with the top 1 percent it is 300%.
P.S. My opinion is that Gibbs is a great man - but should be given another high level assignment. I do not believe Gibbs is a Crypto-Corporatist.
second draft of my letter to the president.
show details 12:59 AM (1 minute ago)
Thought of the day:
The Republicans give all the money to the rich. The Democrats take your money and give it to the Government
And why did Obama sell us out so far?
But who are they ?
What all these rascals hate is sunlight.
Helen Tomas asked Gibbs whats the difference between Obama and Bush on foreign policy- I couldnt believe it. He responded that under Obama we increased troop levels in Afghanistan. Like your legions of formerly ardent admirers, I am deeply bitter now, This presidency looks like its serving similar power interests as Bush. A friend once told me "Clinton is the best Republican President we ever had".
The Internet is becoming a HUGE factor. We cant pretend any more with the new quasi intelligencia. I have learned - thanks to the movie "Plunder the crime of our times - how deeply disliked treasury and Geithner and Summers are by people following the money.
We do support the attempts in all the initiatives - but they all seem like such hopelessly compromised sellouts. Health Care with little cost control - financial reform putting The Consumer FPB under the Fed is just insane. Increasing regulatory power - is just matching the increase in corporate power with an increase in government power. Why ? Because its too hard to actually change the rules like Brown Kaufmann would have done. Through educating myself I have now a deep distrust in the Fed and Wall Street - although I am a businessman - Whoever actually reads this should watch the brilliant (although perhaps too extreme) Max Keiser. He gives you what Jon Stewart only flirts with. This administration looks so pro military industrial that I just cant believe it. No Press Conferences! Hows that for transparency! Secrecy Laws attacking our constitution - maintained and upgraded - it appears your administration does not want to lead - but rather to rule. To accumulate power. I wish I could be a fly on the wall there and find out just what in tarnation drove our "Change we can believe in" into "A Muscular Executive Branch" It is like Boromir believing he would do good with the ring. Dont settle for half measures so often! And dont amass executive power - what will happen when another fool like Bush comes in to power - and you have amassed all this power ?
Show us what you really believe in - not just "We support working folks" But - We support intelligently designed functions (laws) that even the playing field, use incentives available to ALL - not targeted promotions - I dread to think of the carnage in the renewable industry - if we use grants - ALL renewable power should have a credit - a real credit - not merely a tax credit - `we need fairness and to allow people to get to work innovating without being politically connected. That means hard work designing the math functions (laws). Now that is centrism - no waste - no fraud - no picking winners and losers - it can be done - and for true social justice it must be done.
W. Alexander Hagen
877 541 3905 x 721
120 Independence Drive
Menlo Park CA 94025