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Bush economy surging ahead

 
 
Thomas
 
  1  
Reply Mon 30 Jan, 2006 01:16 pm
Cycloptichorn wrote:
And you folks keep smiling and laughing, while big business gets richer and richer and the poor get poorer.

I agree it's a problem when the poor get poorer. But what on Earth is wrong with big business getting richer? Or any business, for that matter?
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 30 Jan, 2006 01:32 pm
Oh, if I start answering that, I'm going to be called a gasp! Socialist! By someone pretty soon.

To put it simply, I believe that the American system has evolved into a situation where the Corporation, ie Big Business, is given preferential treatment over the rest of society in nearly every instance, while enjoying bascially the same rights as other sectors of society. This is a bad thing, for a Corporation basically acts as a 'person' but with no moral boundaries other than to make money. Greed is the bottom line, especially in our trading environment.

Big business invites policies that are actually destructive to our country, through a political manipulation of regulation and Trade policy in order to provide the cheapest product possible to the consumer, maximizing profits at the expense of our Trade Defecit and Environment. Due Dilligence laws mean the CEO's can't even make responsible choices if they want to; they would be lynched and brought to trial for failure to do their job, ie, provide maximum ROI for investors.

As big business gets bigger, the Investment class gets richer; but the investment class also gets smaller, because the money to fund this expansion of business dividends and savings has to come from somewhere. In last years instance, poor Americans have funded the lives of the richest Americans to a tremendous degree through a planned rise in gasoline prices and a removal of limits on credit card piracy.

I know that I've said this to ya before, Thomas, but you really don't understand how bad things have gotten here in America over the last twenty or so years; the gap between the have- and have-nots is simply gigantic, poor public education isn't helping, and our democratic system is pretty much subverted to big money interests. It is difficult to see how things are going to turn around any time soon.

The current group of thugs in power have only heightened this problem through the continued appliance of a known failed theory - supply-side voodoo economics. The Bush tax cuts for the rich have some potentially very dangerous consequences for our future as a fiscally solvent nation.

I would point you here, if you are interested; a look at the CBO.gov numbers for the upcoming decade or so, and they aren't good:

http://www.dailykos.com/storyonly/2006/1/30/82018/4329

Personally, I've watched the Gold and Silver I've bought over the last four years climb, climb, and climb some more; I think this is a far better indicator of where our economy is going than anything else. I bought a 100-gram brick of silver a few years ago for $475 in a sweet deal; I wish I'd bought ten of them now.

Cycloptichorn
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 30 Jan, 2006 01:44 pm
Here's a Heritage analysis, which isn't good either:

http://www.heritage.org/Research/Budget/wm970.cfm

Cycloptichorn
0 Replies
 
Thomas
 
  1  
Reply Mon 30 Jan, 2006 01:46 pm
Cycloptichorn wrote:
To put it simply, I believe that the American system has evolved into a situation where the Corporation, ie Big Business, is given preferential treatment over the rest of society in nearly every instance, while enjoying bascially the same rights as other sectors of society.

Preferential treatment such as ...? I am not aware of any preferential treatment a for-profit corporation gets that a non-profit corporation is not getting.

Cycloptichorn wrote:
This is a bad thing, for a Corporation basically acts as a 'person' but with no moral boundaries other than to make money. Greed is the bottom line, especially in our trading environment.

Big business invites policies that are actually destructive to our country, through a political manipulation of regulation and Trade policy in order to provide the cheapest product possible to the consumer, maximizing profits at the expense of our Trade Defecit and Environment. Due Dilligence laws mean the CEO's can't even make responsible choices if they want to; they would be lynched and brought to trial for failure to do their job, ie, provide maximum ROI for investors.

I think this is where we have a fundamental mismatch. I believe free trade is a good thing, and that the Chinese don't deserve the abuse Congress Democrats give them just for offering bargains to American consumers. This could be a long disagreement. Smile

Cycloptichorn wrote:
I know that I've said this to ya before, Thomas, but you really don't understand how bad things have gotten here in America over the last twenty or so years;

It is always tempting to explain political disagreements by presuming that the other side doesn't get it. It helps to remember that it's usually both sides of the disagreement who make this presumption, and that one side is always wrong about it, if not both.
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 30 Jan, 2006 01:55 pm
Quote:
Preferential treatment such as ...? I am not aware of any preferential treatment a for-profit corporation gets that a non-profit corporation is not getting.


Not preferential over non-profit corporations; preferential over citizens. The corporation is treated far better than citizens are treated here in America while enjoying most of the same rights.

Quote:
I think this is where we have a fundamental mismatch. I believe free trade is a good thing, and that the Chinese don't deserve the abuse Congress Democrats give them just for offering bargains to American consumers. This could be a long disagreement.


I don't think 'free trade' is a bad thing either, and I certainly don't blame the Chinese for taking advantages of the opportunities they have been given. I just believe that a balanced approach needs to be taken when it comes to making laws and regulations, with an eye towards the future of our economy as well as individual corporate profits.

I look at our trade deficit and say, no matter what the mindset or beliefs that brought about this defecit, the fact is that it exists, and that's not a good thing. It will have to be addressed soon, one way or the other.

Quote:
It is always tempting to explain political disagreements by presuming that the other side doesn't get it. It helps to remember that it's usually both sides of the disagreement who make the presumption, but at least one of them is always wrong.


I don't presume to be more knowledgable than you on this or any subject, Thomas; I'm not suggesting that you don't 'get it,' but that you may not be aware of the extent to which certain trends have moved over the last five years here in America. I believe the last 5 years have seen a terrible shift in our national priorties, at least those displayed by the ruling party. And the majority of finanical data out there supports my belief.

Cycloptichorn
0 Replies
 
Thomas
 
  1  
Reply Mon 30 Jan, 2006 01:57 pm
... that said, I never claimed Bush's tax cuts were a good idea. I always argued against them.
0 Replies
 
Thomas
 
  1  
Reply Mon 30 Jan, 2006 02:09 pm
Cycloptichorn wrote:
Quote:
Preferential treatment such as ...? I am not aware of any preferential treatment a for-profit corporation gets that a non-profit corporation is not getting.


Not preferential over non-profit corporations; preferential over citizens. The corporation is treated far better than citizens are treated here in America while enjoying most of the same rights.

Corporations have a right to hold and bear arms? They have the same freedom of contract as individuals? The same right to free speech as individuals? They can marry and divorce each other? The thirteenth amendment protects them against being owned by citizens, or by other corporations? The Eighth amendment protects them against cruel and unusual punishment? They have a right to vote? That's new to me. Alternatively, perhaps we have a different understanding of the phrase "most of the same rights".

Cycloptichorn wrote:
I look at our trade deficit and say, no matter what the mindset or beliefs that brought about this defecit, the fact is that it exists, and that's not a good thing. It will have to be addressed soon, one way or the other.

"You may or may not be aware of it" (Wink ), but you have just restated the mercantilist thesis, which essentially stated that trade deficits are bad and trade surpluses are good. David Hume debunked that thesis in 1753, and it has stayed debunked ever since.

Cycloptichorn wrote:
I don't presume to be more knowledgable than you on this or any subject, Thomas; I'm not suggesting that you don't 'get it,' but that you may not be aware of the extent to which certain trends have moved over the last five years here in America. I believe the last 5 years have seen a terrible shift in our national priorties, at least those displayed by the ruling party. And the majority of finanical data out there supports my belief.

You won't get an argument from me about the merits of the Bush administration, nor about its fiscal policy.
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 30 Jan, 2006 02:35 pm
Quote:
Corporations have a right to hold and bear arms? They have the same freedom of contract as individuals? The same right to free speech as individuals? They can marry and divorce each other? The thirteenth amendment protects them against being owned by citizens, or by other corporations? The Eighth amendment protects them against cruel and unusual punishment? They have a right to vote? That's new to me. Alternatively, perhaps we have a different understanding of the phrase "most of the same rights".


It depends on how you look at things, but the answer to most of these is 'yes.'

Quote:
Corporations have a right to hold and bear arms?


Many large corporations have standing, legally armed militias and armies, especially those who do business overseas; but those forces can just as easily be deployed here in America.

Quote:
They have the same freedom of contract as individuals?


I am admittedly not sure that the exact same freedoms hold true, but I've never heard of a Corporation being denied the ability to make the contracts they desire.

Quote:
The same right to free speech as individuals?


As far as I know. For example, Corporate Newspapers have the right to Free Speech.

Quote:
They can marry and divorce each other?


Absolutely. Mergers and spin-offs.

Quote:
The thirteenth amendment protects them against being owned by citizens, or by other corporations?


Don't know.

Quote:
The Eighth amendment protects them against cruel and unusual punishment?


Don't know if that applies here but I haven't seen any evidence that this is not true.

Quote:
They have a right to vote? That's new to me.


Laughing absolutely! Are you kidding?

Corporate money has bought far, far more votes than I will ever be allowed to participate in in my lifetime, I guarantee!

Quote:
Alternatively, perhaps we have a different understanding of the phrase "most of the same rights".


It looks like it. They may not be the same in name, but the rights are there.

Cycloptichorn
0 Replies
 
woiyo
 
  1  
Reply Mon 30 Jan, 2006 03:18 pm
Many corporations are more concerned with shareholder equity being annualized at 16-25%. Since a public corp. gains no more revenue from their stock trading at gains on "Wall Street", these excessive returns benefit mainly Corp Insiders with large option plans or stock plans and some institutional investors.;

The workers do not see salary increase at the same rates as corporate growth.

These returns are excessive and only create the appearance of economic growth, when the reality is, they do not.

Remember, once a Private Company goes public, the company does not receive any more "cash" if prices rise on their stock. A false market on Wall St, creates these conditions and only a very few actually "share" in the growth.
0 Replies
 
woiyo
 
  1  
Reply Mon 30 Jan, 2006 03:22 pm
What I wanted to add was GW's tax plan does feul this fire somewhat for the "chosen few" who reap the benefits. Capital Gains taxes are reduced under his plan making cashing in on gains cheaper than before. repealing the Estate Tax makes them keep more of what they gained.

Only when income tax rates are slashed on the working party, will we see real economic growth. The middle class are the consumers in this market, not the elite and not the poor.

GW is missing that point, as are many others. Govt should NOT restrict a companies ability to create profits. However, they should not provide incentives either.
0 Replies
 
woiyo
 
  1  
Reply Mon 30 Jan, 2006 03:26 pm
http://today.reuters.com/news/newsarticle.aspx?type=businessNews&storyid=2006-01-30T163413Z_01_WAA000163_RTRUKOC_0_US-ENERGY-EXXON-EARNS.xml&rpc=23

"Exxon Mobil Corp. (XOM.N: Quote, Profile, Research), the world's largest publicly traded oil company, on Monday reported a quarterly profit of $10.7 billion, capping a year of record earnings dominated by surging oil and gas prices."

This was not due to anything GW did. Yet this is the same company who has patitioned the courst for relief from their responsibility re: Valdez Oil Spill?
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 30 Jan, 2006 03:49 pm
Quote:
What I wanted to add was GW's tax plan does feul this fire somewhat for the "chosen few" who reap the benefits. Capital Gains taxes are reduced under his plan making cashing in on gains cheaper than before. repealing the Estate Tax makes them keep more of what they gained.

Only when income tax rates are slashed on the working party, will we see real economic growth. The middle class are the consumers in this market, not the elite and not the poor.

GW is missing that point, as are many others. Govt should NOT restrict a companies ability to create profits. However, they should not provide incentives either.


Man, high-f*ckin'-five, Woiyo!

Cycloptichorn
0 Replies
 
woiyo
 
  1  
Reply Mon 30 Jan, 2006 03:59 pm
Back-a'tcha Cool
0 Replies
 
Thomas
 
  1  
Reply Mon 30 Jan, 2006 04:08 pm
Politics does create strange bedfellows. I agree with woiyo too.
0 Replies
 
Anon-Voter
 
  1  
Reply Mon 30 Jan, 2006 04:16 pm
http://www.nytimes.com/aponline/business/AP-Economy.html

Americans' Savings Rate at Lowest Level Since 1933

By THE ASSOCIATED PRESS
Published: January 30, 2006


Quote:
WASHINGTON (AP) -- Americans' personal savings rate dipped into negative territory in 2005, something that hasn't happened since the Great Depression. Consumers depleted their savings to finance the purchases of cars and other big-ticket items.

The Commerce Department reported Monday that the savings rate fell into negative territory at minus 0.5 percent, meaning that Americans not only spent all of their after-tax income last year but had to dip into previous savings or increase borrowing.

The savings rate has been negative for an entire year only twice before -- in 1932 and 1933 -- two years when the country was struggling to cope with the Great Depression, a time of massive business failures and job layoffs.


The article is longer, but this is the heart of it!!

Anon
0 Replies
 
FreeDuck
 
  1  
Reply Mon 30 Jan, 2006 05:45 pm
woiyo wrote:
GW is missing that point, as are many others. Govt should NOT restrict a companies ability to create profits. However, they should not provide incentives either.


I would add, they shouldn't protect them from their losses using taxpayer dollars, either.
0 Replies
 
okie
 
  1  
Reply Mon 30 Jan, 2006 08:53 pm
woiyo wrote:

"Exxon Mobil Corp. (XOM.N: Quote, Profile, Research), the world's largest publicly traded oil company, on Monday reported a quarterly profit of $10.7 billion, capping a year of record earnings dominated by surging oil and gas prices."


I would say good results for the thousands of stockholders, pension plans, mutual funds, etc. that are invested in the company. Sounds like success for voluntary socialism, whereby investors of the capital, including likely many of the employees, the working class, that do the work and are invested in the company, are rewarded and all share in the rewards of the profits.

And look at the tremendous benefits of what they did. Explored for, drilled, produced, transported, refined, and marketed not only gasoline but many many other products as well, so that we, the public, including millions of us can drive to and from where we need to go at a very reasonable cost. No small task indeed. I say let us be grateful and I would like to personally take this opportunity to complement them for a job well done. If you think they are overcharging, I would say fine, its a free country, have at it, and the world is waiting for some alternative that is cheaper and easier to produce.

I am not trying to be funny. I mean every word of the above. If the government was doing what they are doing, it would likely cost us more than $5.00 per gallon of gasoline.

P. S. Part of the problem with oil profits is the inability for them to find enough places to re-invest the profits into exploration for new reserves to replace what is being depleted. I would rather see the profits go into restoring reserves rather than their assets simply being sold off. Open ANWR and there would be at least one place to see some of the profits go in a useful manner. The same would apply to other off shore areas that have potential but are currently closed due to environmental fears.
0 Replies
 
edgarblythe
 
  1  
Reply Mon 30 Jan, 2006 09:05 pm
Quote: I am not trying to be funny. I mean every word of the above. If the government was doing what they are doing, it would likely cost us more than $5.00 per gallon of gasoline.

It is popular to say business can do it cheaper and better than govt. And, yet, electricity, phone bills and the like were pretty cheap, until deregulation.
0 Replies
 
Roxxxanne
 
  1  
Reply Mon 30 Jan, 2006 09:59 pm
Corporations definitely have been ruled to have free speech. Tobacco companies cannot be barred from print advertising because of the First Amendment.
0 Replies
 
Anon-Voter
 
  1  
Reply Mon 30 Jan, 2006 11:20 pm
Kraft Plans to Cut Jobs and Plants

Quote:
Kraft, which makes brands like Oreo Cookies, Oscar Meyer, Velveeta and Jell-O, announced a second revamping yesterday, one that would eliminate 8,000 jobs, or 8 percent of the work force, and close 20 plants. The overhaul comes on top of 5,500 layoffs and 19 plant closures that were announced two years ago.


http://www.nytimes.com/2006/01/31/business/31kraft.html

Anon
0 Replies
 
 

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