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Leftfield

Leftfield
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  • How Much of China's Export Industry Is Owned by U.S. Corporations? [View article]
    The US used to routinely describe itself as "can do." "We were hijacked by the crony capitalists, now it's the turn of the socialists" is sadly apt.
    Very enlightening about free zones in China. I've long noted the disappearance of "enterprise zones" in this country. Take the most depressed area of Detroit, cut taxes and regulations to the bone and you'll see a renaissance that wouldn't escape anyone's attention. That's exactly why the idea has lain dormant for decades now.
    "Can do" is now supplanted by the crony capitalists that gave us the amazingly incompetent Katrina aftermath. And, what happened to the new construction at the Trade Towers site?
    Eisenhower cared enough to describe the crony capitalist/militaristi... incest he saw as the "military-industrial complex." The ascendence of crony capitalists.
    Now, we have lawyers and bureaucrats swarming like locusts spewing talk of "rights" while they bleed us and show us how to bleed ourselves. Americans should be doing, not blathering and invading.
    The MSM is an unfortunate example. None of what I learned here is found in mainstream articles. Instead of hard-bitten, cigar-chomping editors who had some courage, newsmedia is bound and gagged by PC, and crony ownership.
    Thanks for much enlightenment.
    Sep 5, 2009. 08:03 AM | Likes Like |Link to Comment
  • The Curious Capitalist has found the jobs the U.S. is missing. They're in Canada.  [View news story]
    US governments are notorious for taxing us, issuing endless edicts, and delivering little or no "service." Usually they only put more hassles in our way for the ever-mounting taxes. "Socialist" societies give you a college education, healthcare and countless perks that have actually shrunk and disappeared here during the last 4 decades of rampaging government growth.
    Like Connecticut, which withdrew tuition-free University of CT. education in '71 and raised them plenty since while state taxes, budget and indebtedness exploded. Government workers get it free.
    How the citizenry takes this in silence I don't know, except that indirect/direct recipients of government pay/subsidy must be over a critical mass, education has suffered, and MSM is the 4th branch of government.
    Sep 4, 2009. 04:37 PM | 2 Likes Like |Link to Comment
  • U.S. government the NEW sub-prime lender [View instapost]
    Dirtnap: Agreed! I am equally suspicious of "both" parties; it's just, Obama is in office now and he is young and charismatic. As I see his policies as the next chapter of failed Bush policies, I see dangerous failure and possible use of Obama's charisma to charm the rest our rights from us.
    Sep 4, 2009. 04:00 PM | 2 Likes Like |Link to Comment
  • U.S. government the NEW sub-prime lender [View instapost]
    What is the penalty for any of our leaders to fail and fail again? They reward each other at the public trough. It can't be just stupidity at this point.
    Our debasement seems to be proceeding to certain failure of the dollar whereupon a state of emergency will be declared and elections canceled. By then, the students Obama will begin to indoctrinate this week at government school with suggested follow-up questions by teachers, will be a fully-formed Obama Youth movement.
    Sep 4, 2009. 02:14 PM | 2 Likes Like |Link to Comment
  • FHA: Next in the Bailout Line? [View article]
    I once thought Enron had brought about bad legislation with at least the purpose of preventing further Enrons. No, it was a model for the Enronization of the US.
    Chief Risk Officer? I guess we need a real financial crisis before that need becomes apparent to the FHA. Who's accountable for any of this?
    Sep 4, 2009. 12:41 PM | 1 Like Like |Link to Comment
  • CEO Pay and the Reverse Robin Hood [View article]
    Wisdom vs Information, no doubt large government and large corporations breed large corruption. I believe against the evidence that good laws can be passed although they all increase government. And, I believe, as corporations are set up via law, laws can have useful effects even though those seem to become skirted by the corruption and talent large corporations more effectively wield, as you say.
    I believe we are still feeding on the aftereffects of the once-solid US middle-class whose enormous balance sheet has been bled dry by the leaders of large corporations, mostly financial, and government. Ultimately, the Fed. This was leveraged by these leaders into the highest payscales ever as we reap the culmination of a century of bad fiat-induced decisions.
    Our leaders mostly become rich via funneling leveraged fiat currency into their pockets via gaming the system. Not by emulating Steve Jobs. I don't believe I need to care what a CEO or COO or CFO is;
    Okay, I described some of the problem. If the public doesn't wake up and at least repeatedly vote out incumbents, if they are complicit so they receive their share of crumbs, no good will come from future changes.
    Sep 4, 2009. 12:33 PM | 2 Likes Like |Link to Comment
  • Can Higher Capital Standards Cause Lower Pay? [View article]
    Unfortunately, the lawmakers are no slouches at sneaky methods of payment. The legal ones include all kinds of benefits that can easily outweigh published salaries, and thus, escape publicized government statistics, MSM and the public.
    So, rent-seekers are united at personal gain. That means, even the bankers directly swilling directly from the public trough are benefiting from the personal experience of their paid-for legislators when it comes from drafting laws with loopholes.
    Restricting ridiculous pay packages is possible. But, with the legislators we have now, the possible is out of reach.
    Sep 4, 2009. 12:01 PM | 1 Like Like |Link to Comment
  • Marc Faber: Buy a Machine Gun [View article]
    If, as Marc Faber says, the real crash and problem is likely 5-7 years off when there can be no more fake stimulus, there is reason to fear the place we are are heading fast. Government controls ever-more and, without fiat dollars with value to print and hand out, there will be only the club. Perhaps Obama's little talk to the kiddies later this month with suggested questions included for government employees to ask them afterwards is a forewarning of cancelled elections during the emergencies. Obama Youth Unite!
    Sep 4, 2009. 11:09 AM | 6 Likes Like |Link to Comment
  • CEO Pay and the Reverse Robin Hood [View article]
    Cutting corners, raising fees, letting the product languish is well-advanced in many companies and I once thought it was about getting lean and mean to compete in a market economy. Hah! It's all about getting handouts, I mean, compensation, to the people in charge. Sadly, the multiples they get over the rest of us further entrenches their power to manipulate more by any means necessary.
    One of the main values of the rich is, they are rich, they are better than you and I, how do they get more. Okay if it's for something other than skillful rent-seeking. But, they have used MSM and plenty of politicians to perpetrate the fraud Mark describes.
    We're being hijacked in broad daylight.
    Sep 4, 2009. 10:41 AM | 3 Likes Like |Link to Comment
  • SEC Oversight Lapses in Madoff Scheme: Outlier or Systemic Problem? [View article]
    The suits always have a solution: More rules, more laws, hire more of them. Did I forget, more taxes?
    SEC gave Madoff a tacit AAA rating. No one has been punished for any of this historic meltdown anywhere on Wall St. or in Washington.
    But, trust them.
    TARP was supposedly scribbled on one page, wasn't time to bother with oversight for $800billion but liablility exemptions were made for everyone involved. This was an emergency! Don't worry, our grandkids are paying, who needs accountability. Perps, party on!!!
    Sep 4, 2009. 10:06 AM | Likes Like |Link to Comment
  • Quit Passing Laws and Enforce the Ones on the Books [View article]
    Complexity favors skilled evaders. Even with the ridiculously onerous, ever-growing burden of the present laws so easily run afoul by all normal people now, we have this parade of untouchable offenders at the top of the food chain.
    The actual idea of Congress and their lobbyist-scripted reams of new legislation seems to be to create loopholes for the well-heeled to exploit. The deadening cumulative effect of this pile of crap has not been to reduce wrongdoing, but to enable the elites to seize unaccountable $trillions good taxpayer money thrown at the mistakes they belong in jail for, or at least face clawback.
    If light begins to shine anywhere on this self-serving feedback mechanism, it may bring down much of Wall St. and DC, so they continue to fiddle while Main St. burns.
    Sep 3, 2009. 01:36 PM | 3 Likes Like |Link to Comment
  • The Best Quote of 2009 [View article]
    In the USSA, the paid-for MSM now provides no more than the last 5-minutes of historical depth to any of the ever-changing verbal diarrhea of the mouth our leaders inflict on us. Serves them well as consistency and truth are foreign to them.
    Besides the whopper about housing being "only" 4.5% of the economy, and subprime a small subset of that, there was the constant CNBC refrain before the collapse, that oil was far smaller in our oh-so-modern economy compared with the 70's, hence, skyrocketing oil prices were unimportant. Except that it destroys budgets of Main St. Americans along with ever-mounting taxes.
    There's plenty of this stuff around, but, the thought of the moment is green shoots, so we're not supposed to notice.
    Sep 3, 2009. 04:31 AM | 3 Likes Like |Link to Comment
  • A U.S. Dollar Crisis in the Making [View article]
    UK may be a passthrough for Saudi Arabia et al. Or, for Fed QE. Fed's been getting sneakier, if that's possible.
    Sep 2, 2009. 03:05 PM | 1 Like Like |Link to Comment
  • Sunday's Broadcast [View instapost]
    Listened to it. Good stuff. Spreading the word. But, like you said, the market can stay irrational longer than one can remain solvent.
    Sep 2, 2009. 02:54 PM | 1 Like Like |Link to Comment
  • SEC - INEPT, CLUELESS, INCOMPETENT, ILLITERATE, ARROGANT & STUPID [View instapost]
    Sounds like SEC is claiming the "ignorance of the law" defense. The law they are charged with enforcing. A defense that wouldn't be allowed for any of us for any infraction.
    Sep 2, 2009. 02:45 PM | 3 Likes Like |Link to Comment
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