27 May 2011

The People vs. Goldman Sachs: The Tabbi Effect

If you aren't familiar with Matt Tabbi, let me just put him into the category of one of the best journalists on the face of the planet.  While I may not agree with his political views, he certainly does a good job of writing articles based on facts, and reporting ONLY those facts.  He even drops an F-bomb here or there.  What's not to like? 

His latest full length article was released a few weeks ago in the May edition of the Rolling Stone magazine.  Entitled The People vs. Goldman Sachs, Tabbi details all of the egregious illegalities perpetrated by the investment bank (and its brethren).  If you have 10 pages of printer paper, I suggest that you read this article.  You will find it quite shocking. 

Bank Reforms too Complicated to Work

Do any of these reforms seem complicated to you?  Yeah, me too.  Fortunately for us (for now), they are proposed for our British friends across the pond, but to me there is clearly a simpler solution; one the central bankers meddlers would absolutely hate.  A gold standard. 

It's so easy and simple, it's almost painful!  It's also endorsed by our Constitution...imagine that?  The Constitution promoting not meddling?  Que Guinness Guys!

Discrediting the Fed

Mark Steyn (self proclaimed undocumented anchor man as a fill for Limbaugh, and author of America Alone) had an excellent editorial on the Fed, the beltway mantra, and the policy impact upon an accelerating collapse of the US economy.  Also, he throws in a simple man's essay of explaining the debt ceiling debate.

What spurns Steyn's article?  It seems as though some of the beltway baboons (no offense to baboons) take great offense to the members of congress whom refuse to do the bidding of the Turbo Tax Timmy and the Bernake's ologarch orders.  Those reps in congress are "financial terrorists," according to some hack from the Bush 1 admin:
The people who are threatening not to pass the debt ceiling,” he said, “are our version of al-Qaeda terrorists. Really."
I guess that makes over 70% of the American people financial terrorists since they don't support a debt ceiling increase?  AWESOME!  I've always wanted to be on a government list! 

This Author is a Slacker!

Yes dear reader, I've been a major slacker.  I was in a writing mood a few weeks ago, and then blogger decided to go Tango Uniform and eat posts...(DAMN YOU GOOGLE SKYNETS!).

So, that said, I spent some time last night getting some posts in order and they'll be going up in small releases...some stuff is dated, some stuff is new and recent.  Don't like that I'm late on discussing stuff?  Well...entertain yourself here. (Joking of course).

No dear reader, I hope you understand, I am mostly a one man show.  Sometimes, burnout happens.  I envy those other bloggers I read and follow that are able to put in effort day in a day out.  So thanks for sticking with me here and there, and for your patience. 

QOTD: Pay Discrepency

The point is, the dollar is going down. Over the short term, I don’t know…but certainly over the long term. As it is, a tollbooth operator in the state of Massachusetts earns more than a person with a master’s degree in computer science in Beijing. And the fellow in Beijing works 12 hours a day…and gets almost no benefits.
Discrepancy in pay certainly is a major problem of the current economic crisis.  We can say the same about our CEOs of major corporations in this country that their salaries are very disproportional to the earnings of the company, the amount input that they have (or chose to put in), and their employees'.

While no man should ever be limited by laws (or more precisely, taxes) on the amount of wages one can earn, we must realize that the market does set the fair wage, inclusive of the inherent risk in the currency with which the wage is paid.  The problem with pay discrepancy is that it will always find equilibrium; which means that through inflationary burn, debt enslavement, the burden of government, and high unemployment, the wages of average workers in the United States will not have upward pressure.

All the more reason to reform Washington, end the Federal Reserve, and prevent the meddlers from meddling with our currency.