Mar
20
Jesse Jackson: A Job For The U.S.: Make Economy Fair
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“The current economy is considered just about ideal by the nabobs who run the Federal Reserve. Unemployment is less than 5 percent; inflation is low. Incomes aren’t doing so well, but profits and productivity are up.”
First of all, the unemployment statistics are misleading because they don’t include people who are without a job and are no longer on the unemployment rolls. Secondly, how the hell can we believe what they tell us about inflation when we don’t even know how much money this government prints on their xerox machines every month?
This country is being run by a bunch of liers and criminals who create their own accounting system to arrive at the statistics they want the public to hear and believe is accurate.
Drink-up!
Gail March 20th, 2007 6:12 pm
“Secondly, how the hell can we believe what they tell us about inflation when we don’t even know how much money this government prints on their xerox machines every month?”
The fed has inflated the money supply by 11% a year for the last six years or so. That is against a GDP growth of 2 to 3%
Anytime the money supply is inflated by that much over GDP the result is always inflation, always.
Lobo Gris
Lobo Gris March 20th, 2007 6:28 pm
“The fed has inflated the money supply by 11% a year for the last six years or so. That is against a GDP growth of 2 to 3%
Anytime the money supply is inflated by that much over GDP the result is always inflation, always.”
Thanks, Lobo. If your 11% is accurate we now know for certain they are lying to us about the real inflation rate.
Prison population is up because prisons are run for profit by corporations.
Society needs to feel the pain of disenfranchised people. If taxes went up when crime did, solutions would be found to reduce crime.
Amen to Rev. Jackson for telling it like we don’t want to hear it but need to.
It looks like politicians take advantage of disadvantaged communities by sending poor uneducated Americans to die in Iraq and corporations by convincing them to part with their money and, of course, by warehousing them for profit.
To prevent this from happening in the first place, those poorer communities need a fundamental shift in their ethos and values. Adopt the ones used by families living on the Upper West Side or Beverly Hills.
They make damn sure their kids aren’t used as cannon fodder by disingenous politicians deliberatly manipulating the patriotism of disadvantaged communities.
#
Gail March 20th, 2007 7:31 pm
“Thanks, Lobo. If your 11% is accurate we now know for certain they are lying to us about the real inflation rate.”
You can track what your own inflation rate is, it will vary by individual and/or family because we all purchase different items, simply by keeping track of the prices of what you normally buy, say repeat grocery items weekly, in a simple database program and then calculate the percentage of increase in price over time. Say monthly or yearly.
It is a much more accurate figure, because it takes into account individual purchase history, than a government figure will ever give you.
Lobo Gris
Lobo Gris March 21st, 2007 6:27 am
#
Gail March 20th, 2007 7:31 pm
“Thanks, Lobo. If your 11% is accurate we now know for certain they are lying to us about the real inflation rate.”
Addedum: You’ll need to average all of the percntages to arrive at an end overall figure.
We’re screwed! The funny part is that this whole thing snowballed, starting with the Reagan era, when profits gained the higher ground over real people - particularly workers and jobs. Unfortunately, it took 30 years of oppressing workers, the poor, people of color, the weak or disabled, the elderly, and the powerless for the middleclass to wake up to the fact that they are the next ones to be thrown under the grinding wheels corporations and those in government that benefit from their excesses.
I can remember in the 70’s when inflation was so bad that you could FEEL it with every purchase you made each month. The pain of inflation on every wage earner was palpable. You didn’t have to keep a spreadsheet to know that it was happening.
If Lobo is right about the rate of inflation that is actually happening right now, at what point in time is it going to become so painful to average Americans that it can no longer be covered up? And what can be done to fix it? Is this like climate change where there is a tipping point that occurs where everything becomes inevitable?
Rebel Farmer March 21st, 2007 1:30 pm
“If Lobo is right about the rate of inflation that is actually happening right now, at what point in time is it going to become so painful to average Americans that it can no longer be covered up? And what can be done to fix it? Is this like climate change where there is a tipping point that occurs where everything becomes inevitable?”
What is happening to the economy, not just inflation, is already here. The inflation of the money supply is just a mechanism for temporarily hiding just how bad it is, just as encouraging people to refinance their homes and pull the equity out, plus taking a payment vacation was. If you haven’t felt it yet, trust me it is coming to a town near you soon.
I have two brother-in-laws that were forced into early retirement at a reduced retirement rate. I have another brother-in-law that is bi-lingual and has two degrees that has been out of work for over a year and is getting close to losing his home. I have yet another brother-in-law who is a little slow mentally but is a hard, eager worker who can’t even find work as a dishwasher. I have a nephew that graduated magna cum laude from his university, and after being out of work for almost a year finally landed a job at half the pay he was making before he quit to go to college to make a better life for himself. The job he had before required hard physical labor and he finally realized like I did long ago that the body doesn’t hold up. I have a son in his thirties that should be on his own that has completed two years of college but can’t find a job that pays enough to support himself. And that is just my family.
I know others who have adult children living at home for the same reason, they can’t find jobs that pay well enough to support themselves.
The bottom line is that we have already passed the tipping point and anything we do will result in painful adjustments which is why Bush and the rest of the politicians are avoiding it like the plague. They don’t want to be the one left holding the bag. The problem of course is that the longer it gets dragged out the more painful it will be.
We have two options, we can make the painful adjustments now or later, or we can become a third world country with a few elite rich and a lot of hungry poor.
What can be done?
1.We need to withdraw immediately or at the most six months from now from all of the trade agreements that have been negoiated so badly and that they are literally eating our lunch. We can then renegotiate them on terms more favorable to us or let them go.
2.We need to not only end the tax incentives for U.S. based corporations to move their operations overseas to low wage non regulatory areas of the world, but we need to also put tarriffs on foreign produced goods to give them the incentive to move back here. We can also encourage a favorable tax climate to encourage the move. It’s stupid to make companies pay taxes because they just have to pass it along in the form of higher prices and the consumer just ends up paying for it anyway. The government will collect the tarriff tax revenue which will offset some if not all of the tax revenue lost by making companies that provide jobs tax free. It might even reduce or eliminate taxes for most Americans eventually. Up until the middle of the last century we didn’t have an income tax, the government was financed by tarriff revenues.
3. We need to end the insourcing of high tech workers through programs such as H1-B. We have high tech workers out of work that have been put there because of abuses of the program because foreign workers will work for less even here.
4. We have to immediately improve our education system. We have to go back to the basics and if little Johnny doesn’t do the work he doesn’t deserve to be promoted to the next grade because he might feel bad if he isn’t. The little sh*t should feel bad after he gets his butt kicked for not doing his work.
5. We have to seal the border and regulate who comes in. Sorry but until we take care of our own people we can’t take care of others. And yes we do have people who will work as janitors, maids, window washers, etc. You just have to pay them at least minimum wage. Exploiting illegal foriegn workers isn’t good for them or us.
6. We have to give the unions some of their power back. Employers will not voluntarily pay decent wages so the right of workers to organize has to be maintained.
7. We need to go on a crash program to lessen or eliminate our dependence on foreign oil. We can’t allow others to control our economy as they did in 1973 and 79.
8. We need to cut government spending for the most part by cutting military equipment programs for stuff we don’t really need. By cutting out pork barrel spending the main purpose of which is to keep encumbents in office. We need to reduce the size of our military footprint across the world, although gradually to avoid a shock to the economy from returning GI’s looking for jobs. We need to stop the trend towards having a private army controlled by Corporations and responsible to no one that cost more than a regular government funded military. We need to end no bid contracting.
9. We need to end the wars in Iraq and Afghanistan, another huge needless drain on the economy that we should never have started and have lost anyway.
10. We need to tax the rich fairly. They benefit the most from our system so they should pay the most. 50% of the revenue problem with social security could be solved by simply raising the tax base from $90,000 dollars where it ends now to $140,000. I’m not against giving the rich tax breaks but it has to be tied directly to job creation. If you sit on your riches you should pay for it.
11. Don’t hold your breath waiting for any of it to happen, you’ll die from suffocation.
There are more but I’m getting tired. I won’t lie to anybody and say that it will be easy. We might even end up in an ecomomic depression. The alternative though is infinitely worse because there is no chance for recovery from it.
Lobo Gris
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