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The Great Giveaway
Jan 7, 2009 | 10:11 AM PST
Category:
News
It seems like everyone is getting taxpayer money these days. Between the Treasury Department, Federal Reserve, and Congress, trillions of dollars have quietly been spent, loaned, or committed to solve the economic problems of our economy. The amount far exceeds the $750 billion that most people are aware of. And very little of it requires any accounting by the people who are receiving it.
The latest group of people mentioned to possibly receive "bail-out" money is the group of wealthy investors who were duped out of $50 billion by Bernard Madoff in a Ponzi scheme.
Should taxpayer money be used to protect and/or reimburse these wealthy investors for their losses?
How can individual taxpayers prevent such abuses of the governments ability to print more money and give it away?
Reform for the good of the nation
Jan 3, 2009 | 8:13 AM PST
Category:
News
The recent auto company bail-out debacle, and criticisms of the UAW may have provided a much needed impetus for a review of the American work force and the need to make it more competitive with the rest of the world. The objective of any review should be to determine which benefits if eliminated could be the most cost effective.
To expect UAW workers to give up benefits that workers elsewhere continue to have is a bit unrealistic. But if our government and its work force would take a leadership role and provide the example for reform, other parts of the American labor force might be more willing to change.
The major criticism of the UAW is similar to past criticisms of workers in other jobs, and that is paying workers for not working.
Many industries have their own unique programs, but one that is share by most is the benefit of paid holidays, sick days and vacations. These benefits, if eliminated could provide enormous savings for all employers.
With our government being the largest employer, there could be a significant and much needed savings at the national level. It might even be a good idea to eliminate all Federal holidays, since there are so many of them.
Would you be willing to give up the benefit of paid holidays, paid sick days, and paid vacations in the national interest of making our work force more competitive with the rest of the world?
Passing the buck
Dec 25, 2008 | 6:53 PM PST
Category:
News
There have been a number of factors cited as causes of the present world-wide economic crisis. Such things as deficit spending, trade imbalances, and the inconsistencies of governments in regulating their monetary systems have been cited as reasons for the crisis. Presently many countries are able to simply print more money when their leadership thinks that they need it.
One of the proposals for minimizing or eliminating many problems in the future is to establish a world-wide currency that would be centrally regulated.
Would you favor getting rid of the U.S. dollar and adopting a centrally regulated world currency that would eliminate fluctuating currency exchange rates and individual country manipulations for the purposes of trade advantages, etc.?
Changing leadership
Dec 22, 2008 | 8:49 AM PST
Category:
News
The Associated Press and Yahoo are reporting that Toyota is predicting a loss of $1.66 billion for the fiscal year ending in March 2009.
After all of the recent suggestions that the UAW has been the cause of losses in the American auto industry, it may be difficult to understand how Toyota without the "burden" of the UAW could also be facing hard times. Never mind that Toyota offers lifetime employment for its full-time employees a group which is getting older, something not contained in any UAW contract.
But this continuing debate brings us to another issue and that is the status of the US as a world leader with high standards. Other countries such as Japan, always offered goods at lower prices, however American products met higher standards and lasted longer.
We have seen what happens in our schools when we have lowered academic standards in order to accommodate the lower achieving students. Are we doing the same thing in our industrial sector?
Has American industry been willing to lower their product and service standards in order to make a few more dollars?
Could unchecked greed lead to the lowering of the US standard of living and world leadership position?
It takes money to make money
Dec 19, 2008 | 11:28 AM PST
Category:
News
With the tremendous publicity that has surrounded the American auto industry and its problems, comes a realization that manufacturing may soon be taking a back seat to other sectors in our economy. As illustrated by the familiar criticisms of the UAW, labor in our country has become quite expensive compared to the cost of labor in many developing countries.
Labor intensive manufacturing industries may no longer provide the best return on investments for the very wealthy as they have in the past . The shrinking of the American auto industry and events surrounding the requested bail-outs are symptomatic of changing priorities in our economy.
So where is the smart money going? Where are the very wealthy people in our country investing their money?
It might be easiest to examine recent events and what seem to be the priorities in our government. It is clear that the bail-out of the financial services and insurance industry was given top priority, while the significantly smaller bail-out and/or loans to the auto industry was opposed by many members of Congress. Even the White House seemed very reluctant to honor the requests of the auto industry.
So what does this mean for the future of average American? Well, the first glaring fact seems to be that high paying labor intensive jobs are quickly disappearing.
But for the country in general, it means that investments will shift from the manufacturing sector to the financial services sector.
In short it translates into "it will take money to make money." And if you don't already have it, good luck trying to earn it in the future!!
Equal treatment under the law?
Dec 17, 2008 | 3:15 PM PST
Category:
News
According to USA Today, "allegations of Bernard Madoff's (Ponzi)
scheme went unheeded since 1999." I'm not sure what happened after
1999, but it appears as though the SEC dropped the ball.
Madoff
allegedly bilked investors out of billions of dollars over that period
of time (1999-2008) during which at least two investigations into his activities
were supposedly conducted.
During that same period of time Martha Stewart was placed under a
microscope for insider trading and ultimately was convicted of charges
related to the investigation of that transaction/activity.
The Martha Stewart allegations involved thousands of dollars, while Madoff's involved billions of dollars.
Why were Martha Stewart and Bernard Madoff treated so differently?
doctors and drug companies
Dec 6, 2008 | 11:37 AM PST
Category:
News
If you have had the misfortune of having to wait in a doctor's waiting room for any length of time you have probably noticed the pharmaceutical company representatives or drug salespeople as they are often called. They are usually well dressed young men or women carrying a nice brief case. And they are most often admitted immediately into the office by the doctor's staff.
Did you ever wonder why they usually get such good treatment?
Well, it turns out that drug companies are pretty generous to health care providers.
Drug companies not only give money to physicians, but they provide such things as lunch for the staff, and even money for the continuing education of doctors.
The totals spent are in the millions and possibly billions of dollars each year. For those things the reps usually receive both access and influence.
Should medical doctors be required to disclose payments and benefits/gifts from drug companies to their patients in order to avoid any appearance of impropriety?
What makes America great?
Dec 4, 2008 | 8:42 AM PST
Category:
News
What has long made America the envy of the rest of the world? Has it been our military strength, money, individual freedoms, politics, democracy, or some other characteristics?
Which of those characteristics do we most emphasize and display in our dealings with the rest of the world?
Who should we fear most?
Nov 27, 2008 | 8:48 PM PST
Category:
News
I find it ironic that the "hot shots" on Wall Street seem to be able bring a powerful nation like the U.S. practically to its knees, but would probably be helpless during a terrorist attack in New York City like the one in Mumbai, India.
Which group should be judged as being the most powerful?
Which group poses the most danger to the American public?
Which group should our government be most concerned about?
Keeping big cities safe
Nov 27, 2008 | 12:46 PM PST
Category:
News
Every time that there is a terror attack any place in
the world, it gets the attention of most Americans as a result of the
9/11 attacks. The most recent attacks in Mumbai, India that claimed
over 100 lives has been a reminder of the dangers that lurk in this
world of ours.
But the Mumbai attacks were different from 9/11. They were not planes flying into buildings, but rather gunmen in hotels and other places. This made them distinctly different.
Airplanes flying into buildings are out of any possible control by the
average citizen, but gunmen are a different matter. In the U.S. we
often hear of robberies and other crimes being thwarted by citizens who
are armed.
Gun ownership in India is very small considering its large population. Although gun ownership in India is legal, the curbing of imported firearms has caused prices to rise out of the reach of many citizens.
Do you think that if more of the Indian population had been legally armed, the situation and outcome would have been different?
Does this provide any lessons for politicians in some of the major American cities that make owning or carrying a gun almost impossible?
Weathering the Storm
Nov 23, 2008 | 4:15 PM PST
Category:
News
Many people have described the U.S. as a consumer driven economy. They have obviously been able to afford the consumption by having good jobs and earning good money.
But the movement of industries and good jobs out of the country for many years has been reducing incomes and resulting in many people running up credit cards and other types of debt in order to maintain their standards of living.
(http://articles.moneycentral.msn.com/Investing/Stock
InvestingTrading/8-endagered-us-industries.aspx)
Well the jig is up and the country is in a mess. In short, we don't have any money and there doesn't appear to be any way to make any. So what are we going to do as we watch the house of cards fall?
Do we sit waiting for someone to save us? If so, who will it be? China already owns about 10 percent of our debt. And our government can only print so much money before it all becomes worthless.
It appears more and more like it will be "each man for himself" in the near future.
What do you personally intend to do to help yourself and your family survive the economic storm?"
Do you have a plan and is it viable given the evolving situation?
Would you ever consider moving to another country?
A Source of Money?
Nov 18, 2008 | 8:31 AM PST
Category:
News
Germany finished paying off World War II reconstruction loans in 1971. Additionally Germany and its industries were largely dismantled and taken over by the allies. (http://en.wikipedia.org/wiki/Industrial_plans_for_Germ
any).
Should Iraq be forced to pay back the money that has been spent by the U.S. for the reconstruction of their country?
How about their industries, including, but not limited to the oil industry............ should the U.S. take over those industries and at least share in their profits until all of the reconstruction and occupation costs have been repaid?
A Changed President?
Nov 15, 2008 | 2:38 PM PST
Category:
News
During President Bush's address to the leaders of the 20 major economic nations, he suggested that more regulations are needed for our financial institutions and the regulatory structure/process needs to be improved in order to avoid another economic crisis like the one that we are experiencing.
It sounds much like the President is giving advice that he and his administration have yet to follow. In fact it flies in the face of the President's long held notion that less regulation is the best way to go.
Should the administration be focusing on the development of a stricter and more effective means for regulatory oversight instead of giving away tax payer monies with few if any conditions?
Unemployment is going up and working conditions are getting tougher.
However, the CEO of AIG, Edward Liddy still has his job even after leading it near financial disaster and needing a bail-out of about $150 billion. And others in line for taxpayer bail-outs such as the major American auto makers, bankers, etc. all intend to keep their top management in place even though they have led them to near ruin.
Makes you wonder doesn't it? Top management can get rid of the average worker in a heartbeat, but yet they can nearly ruin their respective company and then have the nerve to ask for money to be provided by those same "average workers" in order to save them.
So how are the most ineffective and inefficient managers and executives able to retain their jobs and even enjoy more perks after receiving government bail-out money?
They don't have a union that makes it too difficult to fire them do they?
How about those Corporate Boards that are supposed to keep such things from happening?
Gone Forever?
Nov 7, 2008 | 9:22 AM PST
Category:
News
According to the Associated Press, the government reported that 1.2 million jobs have been lost this year so far and unemployment is at a 14 year high. It is now at about 6.5 percent and is expected to reach 8 percent next year.
Most of the jobs that are disappearing are factory and other good paying middle class jobs. Will the good paying jobs that are being lost ever return to the U.S. or is the standard of living for many middle class Americans being lowered forever?
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