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In response to the $10B tongue-in-cheek retiree stimulus plan that's been circulating on the interwebs, a friend responded to me, "To hell with Wall Street, let's help main street."

Well, now working on Wall Street and seeing the proverbial sausage being made, I feel compelled to reply...

Greedy Americans created Wall Street. Now they want to destroy it. Funny thing is, it's Wall Street that provided them with the investments they needed to retire, the high dividends on mutual and hedge funds and the money they needed to borrow for their cars, homes and education. It's easy to personify Wall Street as the evil creature that caused the economic turmoil we're in right now; however, behind the stocks, bonds and traders here are the average residents from Main Street U.S.A.

It's easy to come up with solutions, such as the one I mentioned about providing $10M to every retiree; however, the downside of this would be that inflation would run rampant. Cause and effect.

Similarly, it has been said that an enormous wind farm covering the deserts of Arizona could provide enough power to supply all of North America. Why haven't we pursued this? What is the cause behind our unhealthy addiction to oil and fossil fuels that not only destroy the environment but are the root cause of so much bloodshed?

Where should we start? What should we do? When it comes down to it, without some radical event/force, people will resist change at any cost -- Americans, for the most part, are quite happy (and distracted) with Hollywood Stars, Cable Television, McDonald's and gas-guzzling SUVs. They will drive the three blocks from home to shop at the Wall-Mart to save 3 cents on their canned vegetables rather than walk (or take public transit) to their locally owned/locally grown farmer's market.

We live in a greedy, sick, self-centred country. All Americans need to be re-educated about everything -- but, then they might go out and vote! (shudder!)


All Hail Our Benevolent Corporate Overlords! -- they feed, clothe and entertain us, what's to worry?




Comments

( 5 comments — Leave a comment )
nipper_dawg
Aug. 19th, 2011 08:36 pm (UTC)
Actually Greedy Bankers made wall street what it is today. The wall street of the 70's and even 80's is not the same as today. With high speed trading it is in an irrational cycle where money is made in .0001 cent movements of stocks and high speed hedges. People used to be on the floor able to slow things down and add the greatest computer there is in the mix, the human mind.

Todays traders it is all about stock value and not the strength or profits of a given company. This has gotten so bad you may save money using a Bookie in the UK as he doesn't charge fees for trading (betting).
mc4bbs
Aug. 22nd, 2011 04:49 pm (UTC)

Supply/Demand.

Bankers are just the focal point for the average Americans. The greed shown by all Americans (dare I say all HUMANS?) has caused this to happen and to exist.

It's the same reason we find people shopping at the Wal-Mart to save a few cents on items and not buying from local, sustainable resources.

We exploit as many as possible to better myself, my neighbourhood, my village, my town, my city and my country -- to hell with anyone else!

Wall Street is only one example (and an easy target) -- turn to greedy corporate overlords who foster this behaviour.

Imagine the things we could actually do if we communicated and cooperated with each other! Wall Street could go away and no one would miss it.

Sadly, we are always seeking the "easy way". For those that find it go the rewards... Who cares that many others lose out?

Everything is a fine line of faith and trust in "the system" -- in 2008, the system 'burped' and people's faith was shaken. Just imagine what will happen when the system fails... like if China were to call in our loans. ;-)

Just like radioactive waste, sweep those that under the carpet for the next generation to deal with... gotta run, "Wheel of Fortune" is on!




Edited at 2011-08-22 04:51 pm (UTC)
mc4bbs
Aug. 21st, 2011 09:59 pm (UTC)
From a dedicated reader...

Brian Writes:

We are on fossile fuels because Bush, Cheney and the lot are involved in the oil biz. The oil biz in general has lots of lobbyistsb and they will see to it that "alternative energy" stays marginilized. The same with paper, bleaching wood makes dioxins which are really dirty, cancerogenic and polluting but we don't use hemp or gnaff because of the influence of the timber companies like Georgia-Pacific.

People like Raul and I have invested in stocks and bonds but via very conservative means, not looking to speculate and get rich quick and so have many others. I see the Wall St. crisis having to do with the housing bubble. They were rating bonds based on mortgages as AAA+ when they were in fact junk bonds. If housing falls another 10% then over 40% of all mortgage holders will be under water. My problems are not with conservative investment but speculators. Right now they are rushing to gold which is about $1800oz. A while ago it was copper and oil but I think those investments have cooled. The average investor is swimming with sharks if they try to speculate and beat out the pros.

My ideas about paying off debt would have sucked up much of the cash that would have been available. Many people would if they had the cash plunk it down to buy a home outright or at least pay as much in cash as available after credit card debt. That would have been one of my stipulations, credot card debt paid off first, then pay off house or get a mortgage. Infation would likely be an issue as the leftover money would hit the economy but that would provide jobs and profits as consumers do what they do best - consume. Most peopel can't seem to save a nickle as the money burns a hole in their pocket. Raul and I have never really argued about money, I'm more a spender than him, as we both are pay as you go types that save and invest. Inflation is the debtor's friend and an enemy of Capital as money loses value in an inflationary economy whereas debts are ok. You pay back your debt's made in yesterday's dollars with inflated dollars.

People are lazy and stupid. They read only the sports pages if they read the paper at all. Rather they sip beer listening to Fox news and their idiotic talking heads that misinterpret everything. Most can't balance a cheque book much less understand economics or why they should vote for person x over y other than sound bites and "gotcha" statements. The Texas governor says he wants to put America back to work, see unemployement is not structural or caused by Bush's economic policies rather it is all Obama's fault, so my attitude is what is he going to do - put obstructions to cheap Chinese imports? One of my labourers I call "little Raul", he used to work for a rope factory in Mexico. That plant used to be in Indiana but the moved to pay people about $120 a week for ($2/hr) for a 60 hour week. They could not compete with China so they sold the equipment to the Chinese who sent it home and the Americans closed up. Our replacement for the eastern 1/2 of the Bay Bridge is being made and partially assembled in China as those workers get $8 for a 12 hour shift and no American or Mexican company can compete with that. So you see free trade has exported our jobs there and their unemployement here. We can't make trouble with China as they own much of our debt and are still buying much of it. 40% of all that the federal gov't spends is borrowed money.

McJobs (the service economy) pays minimum wage (which many conservatives want to eliminate) or just a bit more in high cost of living areas (if the workers are lucky), many work 2 or 3 part time jobs just to make it. The lack of earning power will mean a lack of purchasing power and therefore a poor economy that will get worse and worse over time as people run out of savings or retire to too little pension, 401k and SS.

So in short we're fucked.


Edited at 2011-08-22 04:51 pm (UTC)
kyriakos_of_lj
Aug. 22nd, 2011 09:19 pm (UTC)
I think the corporate overlords love the average American.

I mean love in the sense that you might hear someone say "I love my girls dumb and blonde" or "I love my men big and dumb"

Essemtially, the person means, "I love screwing over someone who doesn't take the time to think if there are being SCREWED!"

So, the corporate overlords do love the average American, and by that, I mean the average American is so easy to screw over.
mc4bbs
Aug. 22nd, 2011 10:37 pm (UTC)

Well, exactly!

If the tables were turned, the average American would (and does) do the same thing. Look at countries with labour forces that make our cheap electronics and plastic items, as well as oil-rich countries.

How can we stop the process without cooperation? We can't.

( 5 comments — Leave a comment )

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