April, 2011

22 Apr

Good News on Good Friday

By Walter

Here are some excerpts from this morning’s New York Times:

“The chip maker Advance Micro Devices topped earnings expectations for the quarter.”

“GE posts earnings that exceed forecasts.”

“McDonald’s profit is up.”

“DuPont tops forecasts; profit up 27%.”

“Blackrock earnings increase 34%.”

“Real estate helps profit increase 58% at Blackstone.”

“Xerox reports rise in profit and revenue.”

And the NY stock market hit a 33-month high!

What does all this good news mean?

Read more

19 Apr

The Scandalous Tax Code

By Walter

Well, the taxman made his annual visit to collect his due, and while we made it through another year, we’re also another couple of trillion dollars deeper in debt. As we are forever reminded, there are but two remedies for excessive debt: cut spending or raise taxes, one or the other, or a combination of both. Managing the national budget, therefore, is a matter of establishing a sustainable balance between those two efforts. Unfortunately, looking at the “raising taxes” part, the outlook is not promising. Even if the Tea Party/Republican anti-tax debt hawks come to understand the need for increased taxes, the system by which those taxes will be collected does not instill confidence that the taxman will be fair and equitable. The abuses and inequities are well known, underscored by the recent revelation that giant General Electric paid no taxes while realizing $14 billion in profits. Clive Crook, writing in the Financial Times, cited the tax code’s “lunatic complexity” as evidence of “legislative incompetence.” “It is something,” he wrote, “that you cannot gaze into too long without falling into despair.”

When Congressman Paul Ryan issued his controversial Roadmap for America’s Future,

Read more

17 Apr

How Debt Saved Capitalism — Temporarily

By Walter

All this bad-mouthing of debt is downright ungrateful. The criticism of individuals and governments who can’t seem to live within their means ignores the fact that if they had not gone into debt the economy would have ground to a halt a long time ago. It’s debt that keeps the capitalist Ponzi scheme going. As long as the Federal Reserve continues to pump money (and debt) into the economy, collapse will be avoided until …

Read more

16 Apr

And the Squeeze Goes On

By Walter

As the world’s political and financial leaders seek to reinvigorate economic activity, it is no surprise that the greatest sacrifices and the largest contributions are being demanded from the workers, the laborers who actually produce stuff. As the economy begins to lurch forward in one sector or another, lack of confidence in the sustainability of the recovery is causing employers to delay hiring more workers to satisfy increasing demand. Instead, as reported in the Financial Times, “manufacturers have found that they are able to increase productivity by getting their employees to work harder or more efficiently.” If you are not squeezed out of your job, more work is squeezed out of you.

Read more

05 Apr

Flirting With Disaster

By Walter

The principles of our national political leaders here in the US are about to be twice tested, once before the week is up and again this summer. Will they come to their senses and do the right thing? Or will they fail to reach an agreement on the budget for the rest of this fiscal year and as a result close the government down as early as this weekend, resulting in untold inconvenience, uncertainty, and suffering on the part of millions of its citizens. If they fail to bring government to a grinding halt this week, they’ll have another opportunity this summer by failing to raise the government’s debt limit, a failure with catastrophic consequences to the global financial system. And if that happens, who will be pinned with the blame, the Democrats or the Republicans?

Read more

02 Apr

The Capitalist Caste System

By Walter | 1 comment

1

So now it has been revealed that major corporations will not consider an employment application from someone who is unemployed. This is so like the old saw that banks will not lend you money unless you can prove you don’t need it. So if you’re unemployed right now, you must be a loser, so don’t come knockin’ ’round here no more. Once you are unemployed, you have become unemployable, an economic untouchable. And that’s just the start.

Read more

01 Apr

What’s Your Scenario?

By Walter

What do you think is going to happen? What do you hope will happen? And what can we do to help determine what will happen? In TCGC I offered three possible scenarios, which I labeled the Design Scenario, the Metaphoric Scenario, and the Apocalyptic Scenario. While you’re constructing your own scenario, which I hope you will share with us at the end of this blog, here’s where I would like to point this website:

Read more

There will be expenses.You can help.

NEWSLETTER SIGNUP FORM

Sign up for our newsletter and get the latest news regarding The Coming Global Coalescence and the Whole Earth Design Project! Subscribe here.
April 2011
M T W T F S S
« Mar   Jul »
 123
45678910
11121314151617
18192021222324
252627282930