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Even though our esteemed Congress has just passed a stop-gap measure, America will continue its slide down the Financial Graph Curve towards the Fiscal Cliff, dropping off into an Economic Crevasse and hitting the Monetary Debt Ceiling on the way down, finally winding up through a spending-cut Sequester Wringer.
The “do-nothing” Congress finally did something. Why? Partly because they don’t want to lose, comes next election, the perks and prestige their jobs bring. And partly, I think, some heavyweight fat cat moguls of various stripes and BMIs, after watching with terrifying alarm as their investment portfolios start shriveling up like their little johnnies after a 4-hour Viagra high with their favorite "street-walker interns", called up their indentured representatives in Congress. (Personally, I have more respect for these streeters than some Wall-Streeters, at least they make their hard-earned money the old fashioned way, through manual and uh . . . physical labor.)
In another arena, the same pressure was also mounting for some top brasses in the Pentagon, this Sequester thing was giving them some gastrointestinal problems; this would greatly affect their under-the-table lobbying they were doing for some defense contractors. Now if they couldn’t deliver a bigger slice of the Congressional spending pie, this would give them an anal-explosive complex in addition to their attendant occupational hazard, the military-industrial complex. No amount of psychoanalysis or therapies will solve that. Well, forget about Freud, they decided to take the anal-explosive matters in their own soiled hands and picked up the hot-line, a direct link to their cohorts in the Congress.
The masters summoned and the Congressmen or women obliged and performed their well-rehearsed, two-steps-forward and one-step-back bargaining dance, "Gangnam Style”, around the Cliff’s brink, temporarily slowing the slide. Now they are congratulating and patting each other on the back for their virtuoso performance for saving the day. To them it was all song and dance, but it was a bad imitation at best and a corrupted version at worst, of the inimitable master, PSY. And they know it. They are supposed to be our public servants, but instead they have become indentured servants to the fat cats.
As for the real tax-payers, they are completely psyched out, after holding their breath in suspense for so long and watched the one-trick dog and pony show in Washington with amazement, disbelief and disgust.
Meanwhile, the fat cats’ Wall Street cronies have a more pressing problem. This fiscal stress also gave them an anal problem. But they got the worse end of the complex spectrum deal, the anal-retentive complex. This gives me a reason to suspect that the much discredited Freud might be partially right. The potty trainings must be radically different for these two archetypes during their crucial formative years. So these Wall-Streeters will continue their pants-wetting (liquidating their hedge fund derivatives). And from time to time they will let out a collective, knee-jerk fart (dumping some of their self-appraised, value-inflated, stock portfolios). Those are some spittle and a lot of smoke, to be sure, but no cigars. What is a fella to do with all those private unwanted holdings? I'm not talking about stock and commodity options or pork and beans futures here. Well, nothing much. One can only sympathize. But I'm digressing.
Anyway, this letting out of hot airs from Wall Street will give rise to gale-force wind warnings in the rest of the financial world. These little puffs of smokes emanating from Wall Street will gather strength and become a series of jet-stream blasts of tsunami winds, riding the Occidental Arctic Express, made more severe by global warming (don’t get me started on that now) to buffet (et tu Warren? Just say it ain't so!) the rest of the world. These north-easterlies will suck up and freeze-dry any liquid assets in their paths. You have heard about the air guitar players, some of these Wall-Streeters are basically air stock players. They are playing some investors for gullible fools.
The antidote to all these is simple, plug up all those fart-holes, I mean all the loop-holes. That means reform Wall Street, modify the tax codes, enforce strict restrictions on political lobbies, nullify the Supreme Court’s “Citizens United Vs. Federal Election Commission” decision and clean up both chambers of the current Congress, nooks and closets all!
Now you tell me, if these are not the real "Butterfly Effect", America’s economic prowess and "representative" government in action or what?
In the "mean"time, have a happy and a preposterous New Year! Uh, I mean a pre-prosperous New Year for now, until these tsunami winds blow over!
With regards, PFJChow.
Showing posts with label Fiscal cliff. Show all posts
Showing posts with label Fiscal cliff. Show all posts
Wednesday, January 2, 2013
Monday, December 31, 2012
Fiscal Cliff, Wall Street and the World
Regardless of your opinion about Wall Street, but as America slides down the financial graph curve towards the Fiscal Cliff, and before we drop off into an economic crevasse and hit the monetary Debt Ceiling on the way down, the Wall Street types will collectively fart and wet their pants, and the rest of the world will feel a blast of a tsunami wind. Talk about the "Butterfly Effect", America’s economic prowess and "representative?" government!
Sunday, December 9, 2012
Entitlement Programs
Entitlement Programs
Hey, you politicians of both stripes (some should wear those zebra stripes as their uniforms), republican and democrat all, listen up. Stay away from the Entitlement Programs. We, the people, those not of the top 2 % on the economic scale, are entitled to them. We have that right. We’ve earned it! We earned it by contributing to these programs through our mandatory payroll deductions.
These three programs are the spunks that keep the medically indigents and middle class senior citizens going with their minimal subsistence income. The rich and most politicians don't need Social Security and Medicare because their financial futures are handsomely secure. The rich get their entitlements from secretive bank accounts scurried away in some offshore banks. And politicians can live off on non-disclosed campaign funds from super PACs stuffed in their refrigerators’ freezer compartments. This goes to show these guys don’t know a first thing about liquid assets. No wonder our economy is in such a deep freeze and sliding down a slippery permafrost slope to the fiscal cliff into a financial crevasse.
Some venture capitalists, aka corporate raiders, live off on corporate welfare through government subsidies and bailouts, leaving the taxpayers holding the bag. Consider Bain Capital, headed by one Mitt Romney and his investors. When Bain Capital was acquiring Steel Dynamics, Mitt Romney and his partners was able to take in $37 million in taxpayer subsidies. Then later, Bain Capital gained majority control of an Armco steel mill in Kansas City, Missouri. They renamed it GS Technologies, GST. There they cut corners, skimmed profits and finally wrung the company dry. The company went under, costing a loss of 750 jobs. When it was discovered that GST had underfunded its pension plan by $44 million, the federal agency who oversaw and guaranteed pension plans had to step in to pick up the tab, sticking it again to the taxpayers. This is just an example tip of the proverbial iceberg. How did Bain Capital get away with hauls of cash through taxpayers’ sweat and toil? One can look no further than Capitol Hill. There is gold in them thar Hill, where crocks of taxpayer gold are hoarded and doled out by political leprechauns who sit on powerful senate or congressional committees and caucuses.
The CEOs draw off their discretionary funds for their recreations with their favorite politicos on some indiscretionary procreation activities from facade corporations in tax haven countries and by creative accounting. If you learn your stuff well from Economy 101 about liquid assets, you can easily spot these discretionary corporation accounts, listed under the main category Liability, subcategory Expenses, Discretionary Funds, Lobby, and then Procreation. Oops, I meant Recreation. For these guys, recreation means procreation with lobby interns. The pro- part of the procreation process they like it well enough, but the post- part is a little messy and hushed up and swept under the discretionary fund carpet. This underground economy operates and flies under the radar of the IRS and FBI, here the money behaves by the laws of quantum mechanics. They pop in and out of those politicians’ pockets without leaving a trace, and more elusive than those elementary quarks. The minute you notice them and poof, they are gone, leaving behind nothing more than a Cheshire Cat’s grin on those screw-the-taxpayer politicians’ fat faces. This is the quintessential Washington DC Barter System: Money, and Sex, and Political Favors, Oh My! Suddenly, You get to thinking why you, the taxpayers, are not in Kansas City, Kansas anymore, and how the heck you end up in Kansas City, Missouri!? Now, this is something they don’t teach you in Econ 101.
Some would complain that the Entitlement Program is getting too big and we will go the way of the Greeks. This country is not like Greece. The United States is seventy four times the size of Greece. Our economy and financial system is backed up by our huge natural resources, our relatively political stability, tons of gold in them thar Fort Knox, not to mention we have more geeks than all the Greeks in Greece. And the geeks will lead them economist types and see us through this financial quagmire, if only them political types would listen. Our country alone in the whole world can print all the money we need and still have people queuing up to buy US Treasury bonds; and if you haven’t notice, the US dollar is the de facto international tender for exchange and trade. Of course, we need to cut the deficit, but not at the expense of the middle class and their retirement future.
Social security would be financially sound (and still is) had it not been for certain previous administrations and Congress siphoning off funds to support their own unwarranted wars and pork barrel projects. Trim wastes, frauds and abuses from the Entitlement Programs, yes! Eliminate COL increase, reduce benefits, no! United States have always been known as a nation of generous people. We dish out millions in aids annually to developing countries the world over, why can’t we do the same for our own citizens at home. Remember and take heed of an old but sage injunction: charity first begins at home!
To those politicians who act as proxies for those super rich, super PACs and corporate heads to undermine the current Entitlement Programs, I give this fair admonition. To quote the man who warned off a TSA Official who was over-enthusiastic in frisking him: "Don't touch my junks!", I'm paraphrasing here to warn you two-timed politicians: "Don't touch our spunks or they will rise to the occasion to screw you royally, bourgeois-wise AND proletarianly comes next erection! Uh… election!" Now, you don't want to mess with the working class stiffs!
Hey, you politicians of both stripes (some should wear those zebra stripes as their uniforms), republican and democrat all, listen up. Stay away from the Entitlement Programs. We, the people, those not of the top 2 % on the economic scale, are entitled to them. We have that right. We’ve earned it! We earned it by contributing to these programs through our mandatory payroll deductions.
These three programs are the spunks that keep the medically indigents and middle class senior citizens going with their minimal subsistence income. The rich and most politicians don't need Social Security and Medicare because their financial futures are handsomely secure. The rich get their entitlements from secretive bank accounts scurried away in some offshore banks. And politicians can live off on non-disclosed campaign funds from super PACs stuffed in their refrigerators’ freezer compartments. This goes to show these guys don’t know a first thing about liquid assets. No wonder our economy is in such a deep freeze and sliding down a slippery permafrost slope to the fiscal cliff into a financial crevasse.
Some venture capitalists, aka corporate raiders, live off on corporate welfare through government subsidies and bailouts, leaving the taxpayers holding the bag. Consider Bain Capital, headed by one Mitt Romney and his investors. When Bain Capital was acquiring Steel Dynamics, Mitt Romney and his partners was able to take in $37 million in taxpayer subsidies. Then later, Bain Capital gained majority control of an Armco steel mill in Kansas City, Missouri. They renamed it GS Technologies, GST. There they cut corners, skimmed profits and finally wrung the company dry. The company went under, costing a loss of 750 jobs. When it was discovered that GST had underfunded its pension plan by $44 million, the federal agency who oversaw and guaranteed pension plans had to step in to pick up the tab, sticking it again to the taxpayers. This is just an example tip of the proverbial iceberg. How did Bain Capital get away with hauls of cash through taxpayers’ sweat and toil? One can look no further than Capitol Hill. There is gold in them thar Hill, where crocks of taxpayer gold are hoarded and doled out by political leprechauns who sit on powerful senate or congressional committees and caucuses.
The CEOs draw off their discretionary funds for their recreations with their favorite politicos on some indiscretionary procreation activities from facade corporations in tax haven countries and by creative accounting. If you learn your stuff well from Economy 101 about liquid assets, you can easily spot these discretionary corporation accounts, listed under the main category Liability, subcategory Expenses, Discretionary Funds, Lobby, and then Procreation. Oops, I meant Recreation. For these guys, recreation means procreation with lobby interns. The pro- part of the procreation process they like it well enough, but the post- part is a little messy and hushed up and swept under the discretionary fund carpet. This underground economy operates and flies under the radar of the IRS and FBI, here the money behaves by the laws of quantum mechanics. They pop in and out of those politicians’ pockets without leaving a trace, and more elusive than those elementary quarks. The minute you notice them and poof, they are gone, leaving behind nothing more than a Cheshire Cat’s grin on those screw-the-taxpayer politicians’ fat faces. This is the quintessential Washington DC Barter System: Money, and Sex, and Political Favors, Oh My! Suddenly, You get to thinking why you, the taxpayers, are not in Kansas City, Kansas anymore, and how the heck you end up in Kansas City, Missouri!? Now, this is something they don’t teach you in Econ 101.
Some would complain that the Entitlement Program is getting too big and we will go the way of the Greeks. This country is not like Greece. The United States is seventy four times the size of Greece. Our economy and financial system is backed up by our huge natural resources, our relatively political stability, tons of gold in them thar Fort Knox, not to mention we have more geeks than all the Greeks in Greece. And the geeks will lead them economist types and see us through this financial quagmire, if only them political types would listen. Our country alone in the whole world can print all the money we need and still have people queuing up to buy US Treasury bonds; and if you haven’t notice, the US dollar is the de facto international tender for exchange and trade. Of course, we need to cut the deficit, but not at the expense of the middle class and their retirement future.
Social security would be financially sound (and still is) had it not been for certain previous administrations and Congress siphoning off funds to support their own unwarranted wars and pork barrel projects. Trim wastes, frauds and abuses from the Entitlement Programs, yes! Eliminate COL increase, reduce benefits, no! United States have always been known as a nation of generous people. We dish out millions in aids annually to developing countries the world over, why can’t we do the same for our own citizens at home. Remember and take heed of an old but sage injunction: charity first begins at home!
To those politicians who act as proxies for those super rich, super PACs and corporate heads to undermine the current Entitlement Programs, I give this fair admonition. To quote the man who warned off a TSA Official who was over-enthusiastic in frisking him: "Don't touch my junks!", I'm paraphrasing here to warn you two-timed politicians: "Don't touch our spunks or they will rise to the occasion to screw you royally, bourgeois-wise AND proletarianly comes next erection! Uh… election!" Now, you don't want to mess with the working class stiffs!
Wednesday, November 14, 2012
More Tax for the Super Rich!
Hey you super rich people, corporations and your crony politicians! You are what you are in part because this country provides the environment and political stability that enable you to freely pursue whatever your hearts desire, which in this case is unimaginable wealth. In order to do this, this country needs a strong government to protect that freedom and an effective infrastructure system to enable sound commerce, to move your goodies to markets and your fat buttocks around in Lexuses and Mercedes Benzes. You would not want to hit some bad pot-holes on your ride, bouncing your fat tummies and suet to give you acid refluxes or driving off the looming fiscal cliff ahead with all the goodies you try to sell, would you?
In addition, you need well-trained staff and support personnel to do all the grunt works so you can do your sun-tan on one of those Caribbean islands with vacation expenses paid for by bank accounts you stashed away at the Cayman Islands. Who is paying for all these maintenance and upgrades that our country sorely needs? All of us! All we are asking is you pay a fair share and that will go a long way to improve our infrastructure, more affordable education system, an efficient government free of fiscal deficits. With affordable higher education, more people will have a chance to move up to the middle class and a chance at the American dream you are having. A strong, healthy middle class population will then be able to spend more money to buy whatever goodies you are selling.
So be more patriotic and don’t fight against a little tax increase with your finely manicured toes and nails. It is so unseemly as unbefitting citizens of the upper class with broken finger nails. If you keep listening to that self-declared presidential election decider, Karl Rove, he of the Fox News reality-denier and super PAC mass-mailer fame and his partner in crime, Grover Norquist, you will soon find yourself hearing from another Karl, the ghost of the impoverished working class past, Karl Marx and his comrade in arms, Friedrich Engels. Think about this: a poor majority populace will make a Marie Antoinette of you all! Comprenez-vous?
In addition, you need well-trained staff and support personnel to do all the grunt works so you can do your sun-tan on one of those Caribbean islands with vacation expenses paid for by bank accounts you stashed away at the Cayman Islands. Who is paying for all these maintenance and upgrades that our country sorely needs? All of us! All we are asking is you pay a fair share and that will go a long way to improve our infrastructure, more affordable education system, an efficient government free of fiscal deficits. With affordable higher education, more people will have a chance to move up to the middle class and a chance at the American dream you are having. A strong, healthy middle class population will then be able to spend more money to buy whatever goodies you are selling.
So be more patriotic and don’t fight against a little tax increase with your finely manicured toes and nails. It is so unseemly as unbefitting citizens of the upper class with broken finger nails. If you keep listening to that self-declared presidential election decider, Karl Rove, he of the Fox News reality-denier and super PAC mass-mailer fame and his partner in crime, Grover Norquist, you will soon find yourself hearing from another Karl, the ghost of the impoverished working class past, Karl Marx and his comrade in arms, Friedrich Engels. Think about this: a poor majority populace will make a Marie Antoinette of you all! Comprenez-vous?
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