The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price. See article – click here.
When US corporations send jobs offshore, the GDP, consumer income, tax base, and careers associated with the jobs go abroad with the jobs. Corporations gain the additional profits at large costs to the economy in terms of less employment, less economic growth, reduced state, local and federal tax revenues, wider deficits, and impairments of social services.
When policymakers permitted banks to become independent of market discipline, they made the banks an unresolved burden on the economy. Authorities have provided no honest report on the condition of the banks. It remains to be seen if the Federal Reserve can create enough money to monetize enough debt to rescue the banks without collapsing the US dollar. It would have been far cheaper to let the banks fail and be reorganized. Continue reading How Economists and Policymakers Destroyed Our Economy→
New Report Says Walmart’s Guatemalan Sub-contractor Cheated Workers
From ABC News
Guatemalan factory workers making blazers and suits for dozens of well-known American retailers, including Wal-Mart, JCPenney, and Kohl’s, were allegedly deprived of more than $6 million in wages and benefits when their employer abruptly shut down the business last year, according to a report published today.
I had a strong suspicion that the verdict would be not guilty based on the inherent conflict of interest of Prosecutors prosecuting police. But I also had a much stronger hope that justice would prevail and my faith in the justice system would be restored. After Rodney King, George Zimmerman and so many other cases too numerable to mention, I have become disillusioned and highly skeptical that our system of jurisprudence is capable of serving and protecting the people. Continue reading Justice Be Damned→
What’s the worry, what’s the fuss
Drones kill you, drones kill me.
We’re all not free, till no drones can you see.
Children look at bombs from the sky
Oops! They’re dead, oh me, oh my….
Is it worth it…to get bad guys? Continue reading Drones→