Tuesday, April 15, 2014

Welfare for NBA Billionaire owner......

Herb Simon Net worth $2.2 BILLION DOLLARS. 

He owns 242 MILLION square feet of Real Estate across America, Europe and Asia. He is also owner of the NBA Indiana Pacers. 

But the taxpayers of Indiana are supposed to believe that he can’t afford to operate his NBA team without Government Welfare.

The Government is all too happy to hand it over to him too.

$164 MILLION Dollars in tax payer provided welfare coming right up.

Welfare for poor people……. Hell no. Welfare for Billionaires……. Absolutely. It is imperative.

Rich people will tell you all about how they make their own way in this world…… but when you squint you quickly see that is hogwash.

http://espn.go.com/nba/story/_/id/10783137/indianapolis-approves-10-year-indiana-pacers-deal

http://www.forbes.com/profile/herbert-simon/

Pulitzer for Snowdens good work.......

A Pulitzer thanks to Edward Snowden. He might have to hide out but others get to enjoy the fruits of his hard work.

http://www.cbsnews.com/news/2014-pulitzer-prizes-honor-nsa-revelations/

Sunday, April 13, 2014

Chronic Sickness In Unemployment......

While the total number of people employed increased by a seemingly impressive half a million, a whopping 83% of those job gains came from temporary workers.

The US labor market is sick. More than five years after the failure of Lehman Brothers, the number of full time employed workers in the US is still 4 million less than in December of 2007.
Economists are rattled by a US labor market that is unable to absorb all the people entering the labor force.

(Rattled Economists should give me a call. I can explain it to them. There are no jobs because every product in every store says “Made in China” Any questions? We will have a quiz tomorrow)
this means that millions of people who joined the national work force were never able to find a job.

(Exactly right. The jobs are gone. They are in China, They are in India. They are in The Phillipeans. They are in Mexico. The companies might be American. They might be flying the American flag in front of their corporate headquarters but the workers are ANYTHING but.)

What makes this so troubling is that young entrants to the labor force who fail to find a job will be less productive for almost their entire working lives. (Yes plus they have mountains of student loan debt. Large mountains.)

In the first few years after people enter the labor force, they enjoy the steepest learning curve. So the average worker who starts his or her career in their mid-twenties has the most to learn and learns the quickest. By the time this worker reaches their early to mid-thirties, the learning curve levels off as they reach their peak earnings and productivity years.

However, if labor market entrants struggle for years to find their first job they are set-back several years in terms of on-the-job skills. So during what should be the worker’s peak earning years either salary or productivity or both fall short due to lack of experience.

This is why rising youth unemployment, those 18-29, is such an eye opener. (blame Corporate America. The same corporate America who says they cannot find qualified people and must have foreign workers. They are responsible for all of this.)

the declining labor force rate has created an additional 1.95 million young adults that are not even counted anymore as “unemployed” by the U.S. Department of Labor.

The current unemployment rate for youngsters aged 18-29 is 16%.
Global corporations are increasingly agnostic to the citizenship and location of their workers and will direct jobs and investment capital to the location with the highest potential return. If Toyota or Microsoft Microsoft find more productive employees in Shanghai and Munchen than in Dallas and Seattle, they will act accordingly. (NOT more productive….Just cheaper)

US corporations just don’t trust this economic recovery. (Really….I wonder why? If they want to know who to blame they should look in the mirror.)
S&P just reported that corporations are hoarding unprecedented levels of cash, but crucial capex is 25% below historical normal levels. Capex is capital expenditures, job creating corporate investment.

From 2011-13: US Corporate Cash Cash Pile Rose to $3 Trillion (Unprecedented levels of cash for corporations bellyaching they can’t hire anyone because they don’t have any money. Please give us tax breaks because we are so poor…..wink, wink)

if US corporations had used a normal, historical use of cash, a stunning $900 billion would have been positioned in job creating investment. (That is OK because Obama spent 800 Billion in stimulus trying to cover up all the money corporate America wasn’t spending. He is such a team player)

In 2007 the participation rate for workers below 20 years of age was 41% but has now dropped below 33%. The unemployment rate in this group is currently 22% vs. around 16% in late 2007. (The Mcdonalds jobs that used to be done by high school kids are now being done by adult workers who have been laid off by corporation. That leaves no jobs for the high school kids. It all trickles down just like Reagan told us. At least the bad stuff does.)

among the more than 10 million people that are unemployed, close to 65% are unemployed for more than 2 weeks. Before the “great recession” only around 30% of the unemployed were out of a job for more than 2 weeks. In those days, a lot of workers decided to resign from their current job to find a better one elsewhere; a sign of a healthy labor market. Today, the majority of unemployed are long-term unemployed.

The end result of the ailments of the US labor market is that fewer workers are financing a growing army of people that are relying on government support in one form or another. The government is taking an increasing portion of the paychecks of this shrinking workforce to finance all these support programs.

http://www.forbes.com/sites/larrymcdonald/2014/04/04/the-chronic-sickness-of-the-us-labor-market/

Wednesday, April 2, 2014

Caterpillar Hiding Profits......

Caterpillar hiding profits in Switzerland to avoid paying US taxes. They don’t feel it is their responsibility to pay into the US tax system. They are a “Global” company.

Yet (in 2009) there Caterpillar was (front and center) to receive their share of Obamas $787 Billion dollar stimulus. They were happy to tell everyone all about how Red White and Blue they were back then.

Yes when the free money is being piled on the table they are happy to pledge allegiance. God Bless America……..

But when it comes to paying their fair share suddenly they not interested. It is like being covered by auto insurance but never paying any premiums. Good deal if you can get it.

Unfortunately if you try and get it they will put you in jail.

In 2009, as the Caterpillar executives were salivating at the thought of free taxpayer money, they were also simultaneously laying off thousands of US Workers. Neat how that works.

To recap –

Laying off US workers (which hurts the US economy) causing a need for stimulus in the first place……Yes absolutely.

Taking free taxpayer money (to help fix the broken US economy….which they helped break)……..Yes absolutely. A Big corporate salute on that premise.

But Paying US taxes, to help contribute to the system that directly benefits them……Yeah sorry, not really going to happen. Thanks for asking though.

http://www.usatoday.com/story/money/business/2014/03/31/caterpillar-senate-offshore-tax-strategy/7114837/


From 2009 - http://www.nytimes.com/2009/02/13/us/politics/13obama.html?_r=0

Best Government Money Can Buy.....

The best government money can buy. 

That is if you have the money. If you do then you are in great shape. You should be doing cart wheels in the street. 

If you are NOT rich though, there is no delicate way to say this…..but you are completely phucked. I mean really, really, really phucked. 

You want your government to represent you (that is a nice thought) but unfortunately the rich people (and the corporations) want the government to represent them too.

The problem is their interests are not the same as your interests. So who is going to get their way? It is not a trick question. The answer is NOT you.

So the court reaffirmed money is speech….So does that mean I can hand chief justice Roberts money? I mean I am free to stand on the steps of the Supreme court and yell and scream my opinion. I am free to hold up a sign. So why can’t I hand him $20,000.00?

If money is speech then the rich people have a lot more free speech then the poor people. That is not new, as it is why our country has been in a ditch for 14 years. That ditch is going to get A LOT deeper now. Those results will be paid for by the poor people. Just the way the founding fathers envisioned it.

http://www.foxnews.com/politics/2014/04/02/high-court-voids-overall-contribution-limits/

Tuesday, April 1, 2014

GM Negligence......

“Todays GM will do the right thing”. 

Yesterdays GM…..Not so much. 

These companies always like to make it seem like before they were completely inept and corrupt but now everything is all fixed.  Trust them.

Ms. Barra is not even the person who should have been testifying in front of congress.  They should have dragged the CEO from 2001 in wearing hand cuffs.

In 2001 GM had a choice.  Spend .90 per vehicle to fix a problem they knew existed.  Or save the .90 and risk people being killed.   They saved the .90 and 13 people died as a result.  The engines shut down.  The power steering locked.  The air bags shut off.  GM cars went careening out of control.

That is criminal negligence, and GM executives should be going to jail.

In the end the .90 savings didn’t even matter as GM still plunged into bankruptcy.  Tax payers still were called on to provide bailout money.


Friday, March 28, 2014

Mountains of Student Loan Debt and still nobody is qualified for a Job......

37,000,000 Americans with $1,000,000,000,000.00 in Student loan debt and yet corporate American still insists they can’t find any qualified Americans anywhere. 

Corporate America insists they MUST HAVE more foreign workers because Americans are so completely uneducated. Foriegners are smart. Americans are stupid. Not corporate Americas fault. Don't blame them because you are unemployed. Maybe if you studied harder. Maybe take out a loan and invest in your future.

Americans are just supposed to nod their heads when they hear that stream of complete nonsense coming from corporate headquarters. When you are done nodding please go and pay your loan. Corporate banks need your money.

http://abcnews.go.com/US/wireStory/trillion-student-loan-debt-widens-us-wealth-gap-23081202