Category Archives: Economics

Bizarro Robin Hood

Via Zerohedge: “The Reverse Robin Hood Construct

It seems the entire global economy has been subverted by the rich robbing from the poor.

It’s been said a sucker is born every minute, but should our economy be based on their victimization?

I can’t see how this won’t end badly.


Stats are Pointing Up…

But should we care about the stats when our team keeps losing?

“”What we see in the United States and some other economies is a statistical recovery and a human recession.”

Larry Summers, Davos, Jan 30, 2010 (via CNBC)

Plus, he’s actually quite wrong on the stats and also understates the human reality:

Sadly for many, the stock market will eventually reflect reality.

Debt is kicking Incomes butt

This isn't going to end well.

Debt to GDP ratio

Where's the money coming from?

Employment, not bouncing yet

Employment over decades of boom/bust

Shhhh !

If you’re worth +10 mil, stop now…nothing to see here…you’ll be just fine.

Worth less, please continue, and buy Gold soon, because the S&P is a mirage and your job might be a mirage too.

Politics Payoff – The Hierarchy of America

1. Military Contractors- Ten of Trillions     Red Check Mark

2. Wall St. – Trillions     Red Check Mark

3a. Automakers – Tens of Billions     Red Check Mark

3b. Red Necks with old Chevys – 3 Billion     Red Check Mark

4a. Insurance Cos – Hundreds of Billions    pending

4b. Pharma –  Hundreds of Billions   pending

4c.  Doctors – Tens of Billions    pending

4d. Patients – a better feeling   pending

I must be missing some but you get the gist.

Highly Illogical

A)  American’s don’t want a public healthcare plan.

B)  A public health care plan will force out private insurers.

So we don’t want a public option but if it’s offered we’ll all select it??

A)  American’s want their big SUV’s and not fuel-efficient econoboxes.

B)  GM went out of business because it was making cars American’s didn’t want.

So American’s want big SUV’s that GM made but won’t anymore.

A)  Bank of America is Too Big to Fail

B) Bank of America is forced to buy the biggest mortgage lender, Countrywide, and the biggest retail broker, Merrill Lynch.

So stress tests now prove that new bigger Bank of America will no longer fail nor need to be disassembled.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”  (guess the speaker)

Truth can be Violent, Vulgar and makes good Video

There is never vulgarity in a whole truth, however commonplace. It may be unimportant or painful. It cannot be vulgar. Vulgarity is only in concealment of truth, or in affectation.
John Ruskin

WARNING: While full of truth and sorta funny, the following video does have some offensive language.   Please avoid if you don’t want to here some bad words or the truth about our “Green Shoots”

Ok, a lot of bad words  😉

Unions – The New Victims of Bigotry

The question by NY Times reporter Andrew Ross Sorkin at the end of this clip says it all: “”Name a Successful Unionized Company!”

I guess they all forget UPS, GE, all six major movie studios, AT&T, and many many others.   Like most in my generation, his job depends on his being uninformed, or appearing as such, about his area of expertise.

So much for the Times being a Liberal Rag

Here’s the email I sent to the Public Editor of the NY Times, Clark Hoyt:

Dear Mr. Hoyt,

One of your BUSINESS reporters, Andrew Ross Sorkin, while appearing on MSNBC as a New York Times representative, stated that he could not name one successful corporation with unionized employees.

Can your newspaper really be successful if it has reporters who lack such basic knowledge about their area of expertise?  His statement is so egregiously incorrect, I was surprised the unionized employees at the immensely successful General Electric, who were filming his segment on “Morning Joe”, didn’t just turn off the camera’s and lights.

I have yet to hear a correction from either Mr. Sorkin or the New York Times.

Hopefully the correction will be as prominent as Mr Sorkin’s asinine comment.


Thomas Bergman