The bankers are deservedly copping a hard time for their greed and economic mismanagement, but let's not leave out/forget there are others deserving of our disdain and anger. This was over at the Consumerist site:
"Here's a sad little saga. After convincing our government that it was responsible enough and commercially viable enough to deserve a multi-billion-dollar bailout, Chrysler spent some of the money taking out full page ads in The Wall Street Journal and USAToday, thanking America for its money. They also posted these ads proudly on their blog. The reaction from actual Americans was, um, harsh."
For more, and the backlash comments see here
Stupidity seems to be in an abundance thoughout the business world these days (and government, so it seems)... but to advertise it in a national publication is beyond stupid. Talk about going from the sublime to the ridiculous! Hopefully, Barack Obama will put a stop to these business bailouts - if a company isn't good enough to trade its own way out of trouble it will continue to fail regardless - and start jailing some of these high flyers for corporate fraud/public embezzlement and etc.
I particularly agree with this part from one of the backlash comments: "even if your company fails, you will have your golden parachute stitched with money taken from the pockets of people who are losing their homes, their jobs, and their ability to provide for their family....". As always, the average bloke gets flushed down the toilet while the rich keep get richer off dirty dealing/underhanded tactics.
This is an excellent thread!
If you like looking at the big picture, this is the closest I've found so far:
http://www.storyofstuff.com/
If this doesn't make you P.O.'d, you're probably one of those that belongs in prison!
There are more excellent informative animations on other issues here:
http://www.freerangestudios.com/
The minute that $18 billion Goldenr ParachuteExecutive Compensation debacle was revealed, The Attorney General of the USA should have seized all their assets, and arrested them.
President Obama should have given the order after declaring a special state of emergency. They should be held incommunicado at Gitmo until they talk and reveal the whereabouts of the money (I'm betting Asia).
Civil Rights? At the end of a bayonette.
treasury printing more money would in fact collapse the economy faster. It would drive inflation and make the dollar worth less than it is already (which is about what, 55cents right now?)
55 cents? That much, wulfie? I would bet 5 cents.
Convicted banker meets new cell mate.
definitely feels like 5 cents worth!! Three bags of groceries for 89. really hits hard.(and their bags are not very large)
We have several church based organisations in Australia that help the poor and struggling with food/clothing parcels. These organisations are reporting a quadrupling of people coming in for assistance since September/October 08. Sadly, it's going to get a lot worse before it gets any better... if it ever does, The problem here lies in the fact that Woolworths and Coles (Australia's largest grocery retailers) hike prices up to accomodate market swings, supply and demand, but rarely (if ever) lower them when market trends, supply and demand return to normal. For example; a 100 gram jar of Nescafe instant coffee rose from 79c to $4.99c during the 70's Brazilian coffee blight, yet they did not return to pre-blight prices when the market/supply returned to normal.
The issue here comes back to greed and gouging as much from the consumer as possible. However, when prices rise beyond reasonable/what average people can afford, many products will stay on the shelf and either rot and/or go out of date. There are several products mrs starkers and I used to buy regularly - for example. a 1kg Hans Strasbourg sausage was $6.45 in April 08, now $11.95 - but we now leave them on the shelf and do without/but just the essentials. The supermarkets answer to this en-masse customer rejection is to jack prices up even higher to maintain profits, meaning only the wealthy and less discerning customers will/can buy these products. So what happens when the wealthy decide the prices have become too high... or are suddenly not so wealthy anymore?
Some organisations are unashamedly money grabbers, and there appears to be nothing the consumer can do about it.
Here in the UK, we've seen a couple of years of steep fuel prices. Petrol went from 80p per litre to £1.20 per litre, gas and electric saw a series or massive increases: 20, 30 even 50% at a time.
Now fuel prices have dropped, despite a 'delay', petrol has dropped to 84p per litre. But what of gas and electric? They haven't come down one penny - greedy bastards
One would think a Government could step in with a Department dedicated only to tracking prices on major items which determine the pricing of other goods and given the 'policing' power. There might even be one which is as dysfunctional as the rest of government.
Unfortunately people can be bought overtly or covertly and it will break down. I don't know what the solution to this is apart from mass boycotting of goods and services or establishing large collectives to do the buying and marketing.
The only solution to all of this is tar and feathers.
When will people wake up...the government policing itself is the biggest joke and insult in the world. We're asking the same idiots to fix the problems they allowed to happen in the first place...HELLO! Clueless Government is NOT going to fix this...WE ARE...We the people are! With higher taxes and even more suffering. How much is it gonna take to wake people up. This touchy feely attitude that Government is gonna save us is lunacy!
Ok...let me get this straight now...we're gonna give bailout money (800 some BILLION...with a "B") to big business and thats gonna stimulate the economy how? Uh...Hello! I don't have any money to buy they're stuff now...I'm reaching up to touch bottom...living in the dark and eating rice as it is...who the hell cares if they go out of business? I don't know about you...but I'm tired and fed up with this crap!.
Yeah....let's bailout the cars giants...you know...the ones that showed up in them gas guzzling stretch limos and private jets to ask for bailout money! How about giving the working stiff the money today...and tomorrow the economy will be stimulated like a mother fracker. Let's do away with this white collar crime crap and throw these crooks in jail where they belong and sell off everything they own. Let them get a taste of the real world...the one we people live in every day.
And NO MORE voting yourself a raise!!!!!!! You want a raise? Ask the people YOU WORK FOR!!!!! Is this insane or what!? But god forbid WE ask for a minimum wage hike! Minimum wage = If we could pay you less we would! Oh wait....they already do!
Man...I can't wait for the full blown depression to get here! I wanna see bankers divng out windows!
Actually, they have to vote to STOP the AUTOMATIC pay raises every year. How's that?
Meh...probably make them look better.
Yeah. It is part of the problem. You'll also notice I said:
"Like every other good thing in this world, leisure and culture have to be paid for. Fortunately, however, it is not the leisured and the cultured who have to pay." - Aldous Huxley
Fourtunate for the leisured and coultred but what about us working class stiffs? We get stuck with the dirty work and the taxes. It's always been this way make no mistake.
Amen!
"Most human beings have an almost infinite capacity for taking things for granted." - Aldous Huxley
Aldous in my main Man! AND What he said is a main part of the problem. The whole country walked around with blinders on for years while those bastards sold out our future!
"One of the great attractions of patriotism - it fulfills our worst wishes. In the person of our nation we are able, vicariously, to bully and cheat. Bully and cheat, what's more, with a feeling that we are profoundly virtuous." - Aldous Huxley
He shoots, He scores! That quote describes Bush and his buddies. Thank God they are gone!
Before deregulation, a NG and Electric companies could not own each other. Where I live the electric co. bought the NG company. The electric co. buys their NG from the NG company they own. So the go to the state and say we have to raise prices because its costing us more money to buy NG. HEHE What a RIP.
Classic, WOM!
The freakin' insurance co's are pulling similar sh@t in FL (probably elsewhere too). angus1949 tols me about that one: and State Farm is looking to raise rates 40-47% on homes in FL even though there hasn't been a significant storm in 3 years.
What ever happened to the Oil Co.'s for ripping us off? NOTHING. And nothing will.
"In G-d We Trust" has been changed.
"Shut Up And Suck It Up" is the new motto.
Oh. and "E Pluribus Unum" has become "Screw You, I'm Getting Mine".
Thanks for the tip on the angelfood ministries. I only just recently found it (on the "hillbillyhousewife.com " website) Unfortunately I haven't been able to make my order on time for the next delivery yet... brain keeps forgetting till the day after cutoff lol. gotta get a calendar implanted in my head.
Yeah, our electricity has increased dramatically over the last 12 - 18 months, around 30% and/or more. The latest government imposed increase of $30 - $35 per quarter supposedly is to pay for a 'trade emissions' scheme... supposedly to enable suppliers to cut emmisions/pollution. The truth of the matter is that the power and gas companies will have more cash put in their pockets for doing little or nothing differently, while consumers pay through the nose for a scheme that exists only on paper.. These corporations will continue to act as they have always done... put profits first and f**k the rest. If they had given a stuff about the environment in the first place there'd never have been a need for US to pay them more to employ better practices.
The sooner governments realise that corporations care only for profits today, not the environment, the future or consumers, the better for everyone. Instead of giving them money not to pollute, governments should be tightening up environmental laws and fining companies big-time for breaches.
The problem with this is that too many politicians have vested interests in big business, and therefore will vote against restrictions and pricing policies that cut into their 'on the side' incomes.
The bottom line here is that when 10% of the World's population is screwing the remaing 90% for everything they can get, what you get is a consumer base without the propensity to pay, which in turn will naturally reduce overall profits. Sadly, the companies, in their greed, hike up prices to maximise immediate profits, thus forcing more and more people out of the buyers markets. So yeah, putting billions into the hands of corporations while neglecting the consumer base is pure folly. As you say, putting money in the hands of the consumer will generate sales, thus employment and increased production... meaning increased profits through the natural chain of supply and demand.
And this won't change until we the people start fighting back. I mean, just think what it would do to companies if the people demanded better and pulled rolling boycotts on their goods and services for a day or three here and there to enforce the need for change. It wouldn't work if only a few people did it once or twice, but if everybody boycotted goods and services of the main offenders on a regular basis, those companies would lose billions in lost revenues. They'd soon have to think about consumers and what they want need... but more to the point, they'd have to think seriously about the huge salaries, bonuses and fringe benefits they pay their executives.
This also has to stop, and the way to do this is for the people to refuse to pay council/government levies and taxes en-masse until they exercise wage restraint and roll back council/gov't exec salaries to what is reasonable for what they /actually do'. I mean, what re they gonna do, throw everyone in jail for non-payment??
What will happen then??? The powers that be will impose martial law and use the military to move people on by force.
They've already done that, Cap'n. LOL.
LINK
Nothing new under the sun, I'm afraid. WG and I were discussing this, yesterday. I'm afraid the changes necessary will not be brought about by the corrupt Military-Corporate-Governmental Complex, the hereditary political clans, self-serving, endlessly incumbent, corrupt politicians and the abjectly apathetic public they supposedly "serve".
Here is a well written article that gives us some insight into why the World is in an economic mess... link
And another article here detailing the attempts of a few to exacerbate matters even further... of particular interest here are the comments below the story.
The one thing pertinent to both these articles is corporate/banker developer greed and political stupidity that allows/encourages it. When oh when will they learn? That when the majority of the wealth is in the hands of just a few, and the largest consumer base, the lower and middle classes are struggling to put food on the table, endless development, building and production will not get them out of economic trouble.
I mean, how can there be less money/real wealth in the World today, as compared to 6 months a year ago? Somebody has to have it, right? Or is it that we've been living above our means in artificially created and false economies, where gambling and hedge betting against non-existent funds became too often the norm, and now the consumer spending bubble has burst, the big banks/businesses are refusing to guarantee loans/deals/tradie against weakened demand.
Seems to me, the banks and corporate world are in a financial mess of their own making... and not just through the obscene bonuses they award themselves at the drop of a hat. Much of it comes from building/developing at ANY cost, and hedge betting against non-existent funds to a severely weakened consumer base, whose propensity to pay was gobbled up by corporate/bank greed... denying the average worker a fair day's pay for a fair day's work while the executives lavish themselves in luxury with unearned bonuses and grossly obscene salaries. Yup, ignoring/neglecting the backbone of industry really works, don't it.!
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