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May 30, 2017 at Zauberhof

Politics

Throwback Tuesday
Return with me now to the golden days of yesteryear: what I wrote about the economy in 2009


Perhaps you're one of the lucky ones who've been privy to my bitching about WordPress: how my carefully manicured pages are turned into one big block of text, how my HTML line breaks are removed, and how embarrassing it is for a writer to realize her work apears in the form of an undigested screed (which some of it undoubtedly is). Having spent many weeks figuring out what I don't know about local servers, pHp, Apache, and javascrip, I've decided to go old school and remake my website with good ol' Dreamweaver. That too is taking time, but at least I understand the language when shit doesn't go right.

While putting my new website together, I ran across the work I did for the now defunct tamethebear.tv. My assessments about wage disparity, the divide between the rich and poor, and the lawlessness of the wealthy were correct, I'm sad to say. In the eight years since I wrote this, we've gone further down the same path with no corrections in sight. Instead of solving the equation of our country for X, where X = the regular old people of the United States of America, we've continued to solve it for Y, where Y = people so wealthy they aren't people anymore. At least that's what they seem believe about themselves. They're better than the peons who's lives they can destroy without a thought. The cake is beautiful, and that's what's important.

Money for Nothing By Michele Kraft March 17, 2009


As outlined on a previous post, AIG is blindly defending distributing bonuses to some of those in the chain of responsibility for ruining the world economy. They didn’t change the rules to make it happen, but they did the deals and grew quite rich themselves. Naturally, they are not giving it up without a fight.

In reading AIG CEO Edward Liddy’s letter to Geithner explaining how his hands were tied, it occurred to me that the United Auto Workers need to find the lawyers who wrote these air-tight contracts and hire them immediately.

AIG executives don’t even need the power of a union to back them up. Their boss is the one going to the mat for them. Blue-collar workers, for whom the dollars are much smaller, yet more desperately vital, have no resolute backing of compensation packages. It seems auto industry executives, instead of citing the lack of protective tariffs they used to enjoy, have made every attempt to shove the blame for their downturn onto the backs of their workers.

Even so, where does the money end up when it is paid to those already fabulously wealthy? Some of it buys cars and bling, but the rest of it is invested in the next bubble economy, which will burst as all the others have.

UAW pay goes right back out to the economy- to the grocery store, to Farm and Fleet, Walgreens, Sears. When workers are paid, when there is a productive middle class, the economy flourishes. The fabulously wealthy can still be fabulously wealthy, but they need all of us to be doing well so they have a base of real money to make money from.

The wealth of the middle class is the basis for all wealth in our country, not subject to fleeting investments and ponzi schemes. This wealth is goods and services, a gallon of milk, a loaf of bread, and the farmer that produced the materials to make these things.

Making money out of handling money this way is slight-of-hand theft. It doesn’t produce anything as it turns out, not even more cash.

 

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