Here are some excerpts from this morning’s New York Times: “The chip maker Advance Micro Devices topped earnings expectations for the quarter.” “GE posts earnings that exceed forecasts.” “McDonald’s profit is up.” “DuPont tops forecasts; profit up 27%.” “Blackrock earnings increase 34%.” “Real estate helps profit increase 58% at Blackstone.” “Xerox reports rise in profit […]
Month: April 2011
THE SCANDALOUS TAX CODE
Well, the taxman made his annual visit to collect his due, and while we made it through another year, we’re also another couple of trillion dollars deeper in debt. As we are forever reminded, there are but two remedies for excessive debt: cut spending or raise taxes, one or the other, or a combination of […]
HOW DEBT SAVED CAPITALISM – TEMPORARILY
All this bad-mouthing of debt is downright ungrateful. The criticism of individuals and governments who can’t seem to live within their means ignores the fact that if they had not gone into debt the economy would have ground to a halt a long time ago. It’s debt that keeps the capitalist Ponzi scheme going. As […]
AND THE SQUEEZE GOES ON
As the world’s political and financial leaders seek to reinvigorate economic activity, it is no surprise that the greatest sacrifices and the largest contributions are being demanded from the workers, the laborers who actually produce stuff. As the economy begins to lurch forward in one sector or another, lack of confidence in the sustainability of […]
FLIRTING WITH DISASTER
The principles of our national political leaders here in the US are about to be twice tested, once before the week is up and again this summer. Will they come to their senses and do the right thing? Or will they fail to reach an agreement on the budget for the rest of this fiscal […]
THE CAPITALIST CASTE SYSTEM
So now it has been revealed that major corporations will not consider an employment application from someone who is unemployed. This is so like the old saw that banks will not lend you money unless you can prove you don’t need it. So if you’re unemployed right now, you must be a loser, so don’t […]
WHAT’S YOUR SCENARIO?
What do you think is going to happen? What do you hope will happen? And what can we do to help determine what will happen? In TCGC I offered three possible scenarios, which I labeled the Design Scenario, the Metaphoric Scenario, and the Apocalyptic Scenario. While you’re constructing your own scenario, which I hope you […]