"The Global Consciousness Project, also known as the EGG Project, is an international multidisciplinary collaboration of scientists, engineers, artists and others continuously collecting data from a global network of physical random number generators located in 65 host sites worldwide. The archive contains over 10 years of random data in parallel sequences of synchronized 200-bit trials every second."
Posted by Warm Southern Breeze on Tuesday, July 29, 2014
The Department of Defense is a bloated organization, rife with fraud, waste and abuse.
Even then-Secretary of Defense (SECDEF) Donald Rumsfeld remarked on Monday, September 10, 2001, that, “According to some estimates, we cannot track $2.3 trillion in transactions. … We maintain 20 to 25 percent more base infrastructure than we need to support our forces, at an annual waste to taxpayers of some $3 billion to $4 billion. Fully half of our resources go to infrastructure and overhead, and in addition to draining resources from warfighting, these costly and outdated systems, procedures and programs stifle innovation as well.” ref: http://www.defense.gov/speeches/speech.aspx?speechid=430
More recently, on December 21, 2010, the Governmental Accountability Office wrote that they “cannot render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.”
In his capacity as Acting Comptroller of the United States, Gene Dodaro wrote that, “(1) serious financial management problems at the Department of Defense (DOD) that have prevented DOD’s financial statements from being auditable, (2) the federal government’s inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government’s ineffective process for preparing the consolidated financial statements.”
Included in that scathing report of fiscal recklessness and laziness were “material weaknesses involving an estimated $125.4 billion in improper payments, information security across government, and tax collection activities,” which were rife in “three major agencies DOD, the Department of Homeland Security, and the Department of Labor did not get clean opinions. Nineteen of 24 major agencies did get clean opinions on all their statements.”
No entrepreneur, accountant, fiscal analyst, businessman or Chief Financial Officer in their right mind would tolerate what has been allowed to happen with it. Consider the F-35 Lightning II aircraft as a case in point.
At a cost now exceeding $400,000,000,000 ($400 Billion – that’s very nearly 1/2 Trillion), it is by far, THE most costly program EVER to have emerged from the DoD. Among the numerous reasons why it is THE most expensive program ever, are Read the rest of this entry »
Memo: From Nick Hanauer
To: My Fellow Zillionaires
You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. I tell you all this to demonstrate that in many ways I’m no different from you. Like you, I have a broad perspective on business and capitalism. And also like you, I have been rewarded obscenely for my success, with a life that the other 99.99 percent of Americans can’t even imagine. Multiple homes, my own plane, etc., etc. You know what I’m talking about. In 1992, I was selling pillows made by my family’s business, Pacific Coast Feather Co., to retail stores across the country, and the Internet was a clunky novelty to which one hooked up with a loud squawk at 300 baud. But I saw pretty quickly, even back then, that many of my customers, the big department store chains, were already doomed. I knew that as soon as the Internet became fast and trustworthy enough—and that time wasn’t far off—people were going to shop online like crazy. Goodbye, Caldor. And Filene’s. And Borders. And on and on.
Nick Hanauer With over 30 years of experience across a broad range of industries including manufacturing, retailing, e-commerce, digital media and advertising, software, aerospace, health care, and finance. Hanauer’s experience and perspective have produced an unusual record of serial successes. Hanauer has managed, founded or financed over 30 companies, creating aggregate market value of tens of billions of dollars. Some notable companies Include Amazon.com, Aquantive Inc., (purchased by Microsoft in 2007 for $6.4 billion), Insitu group (purchased by Boeing for $400 million), Market Leader (purchased by Trulia in 2013 for $350 million). Some other companies include Marchex, Newsvine, Qliance, Seattle Bank and Pacific Coast Feather Company. – Photo by Robbie McClaran
Realizing that, seeing over the horizon a little faster than the next guy, was the strategic part of my success. The lucky part was that I had two friends, both immensely talented, who also saw a lot of potential in the web. One was a guy you’ve probably never heard of named Jeff Tauber, and the other was a fellow named Jeff Bezos. I was so excited by the potential of the web that I told both Jeffs that I wanted to invest in whatever they launched, big time. It just happened that the second Jeff—Bezos—called me back first to take up my investment offer. So I helped underwrite his tiny start-up bookseller. The other Jeff started a web department store called Cybershop, but at a time when trust in Internet sales was still low, it was too early for his high-end online idea; people just weren’t yet ready to buy expensive goods without personally checking them out (unlike a basic commodity like books, which don’t vary in quality—Bezos’ great insight). Cybershop didn’t make it, just another dot-com bust. Amazon did somewhat better. Now I own a very large yacht.
But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now?
Chris Arnade received his PhD in physics from Johns Hopkins University in 1992. He spent the next 20 years working as a trader on Wall Street. He left trading in 2012 to focus on photography. His “Faces of Addiction” series explores addiction in the south Bronx neighbourhood in New York City. Follow him on Twitter: @Chris_arnade
As a college student, Chris Arnade picked Florida watermelons to pay for school. His daughter can’t do the same. Photograph: Alamy
When I entered Wall Street in 1993 with a PhD, I was an anomaly. One of my bosses was a failed baseball player, another a frustrated jazz musician. One of the guys running one of the most profitable businesses, in both my firm and all of Wall Street, was a former elevator repairman. Their college degrees – if they even had them – were from all sorts of schools, not simply the Ivy leagues.
By the time I left Wall Street a few years ago, the only people being hired were the “play it safe kids”. The ones with degrees from Princetons and Harvards. You know, the ones who had organized a soup kitchen in eighth grade (meaning, really their parents had) to load their resumes. The ones who had gone to the state science fair (meaning their parents or nannies had spent many weekends and nights helping with a science project). Few of these hires where rags-to-riches stories. Most had parents very much like those already working on Wall Street – wealthy and dedicated to getting their children whatever they needed, regardless of cost. Many were in fact the children of Wall Street parents.
It is not just Wall Street. Most of the best paying jobs now require a college degree, or post-college degree, and still rarely hire from state schools. They want Ivy schools, or similar. That feels safe.
This is a problem. Businesses have abdicated their primary role in hiring, handing it over to colleges, which have gladly accepted that role, and now charge a shit-load for it. Want a job kid? Pay $60,000 a year for four years. Then maybe pay for another two to get a MBA.
Yet, those best schools do not teach kids anything radically different from what the average colleges do. They do not prepare them better for the day-to-day work of Wall Street. Those finance skills are learned with experience and instinct after two years of training – on the job.
Rather, a prestigious education is a badge given to students who can follow the established rules, run through the maze, jump through hoops, color between the lines, and sit quietly. It shows that they really, really want to be a grown-up. For that, they pay $60,000 per year.
It has become a test. Are you part of the meritocracy?
It also has become a barrier of entry to professionalism – a very costly barrier of entry.
Information on the data set presented is:
Data extracted on: June 8, 2014 (4:07:31 PM)
Labor Force Statistics from the Current Population Survey
Series ID: LNS11300000 Seasonally Adjusted
Series title: (Seas) Labor Force Participation Rate
Labor force status: Civilian labor force participation rate
Type of data: Percent or rate
Age: 16 years and over
Following is the chart as shown on the BLS website:
If the information is accurate – that is, if it accurately represents the thing it purports to represent – then there is a genuine cause for concern, perhaps even alarm. But first, sometimes, information has to pass the “smell test.” If it just doesn’t sound right, dig a little deeper.
However, there is a DEFINITE skew which, when considered, renders the interpretation of the findings questionable, at best.
Since there are TWO separate entities reporting the SAME information, how could it possibly be inaccurate, or incorrect?
Let’s consider further, to determine if such alarm might be genuinely warranted.
Posted by Warm Southern Breeze on Friday, May 9, 2014
If Alabamians can’t work because they’re sick, and can’t get care because they’re poor, they can’t be productive citizens.
Should we just throw ‘em to the wolves?
What will become of Alabama’s present, much less it’s future?
Alabama medical students argue for expansion of Medicaid
on May 07, 2014 at 9:39 AM, updated May 07, 2014 at 9:51 AM
By Swaroop Vitta and Davis Bradford
In medical school, our professors often show us maps of the U.S. illustrating where diseases strike hardest and where patient outcomes are the worst. Most of the time, Alabama is red, really red. Red is bad. So bad that over 600,000 Alabamians are uninsured and have limited to no access to health care.
Alabama is our home and this state’s spirit of compassion made us who we are. Every Sunday a small group of us with other medical students and volunteer physicians heads to a homeless shelter across from Regions Field that houses our free clinic. As we open our doors to many men and women that could not otherwise see a physician, we see first-hand what life without health insurance in Alabama is like.
Ms. C, a hardworking Alabamian, came into clinic with a terrible headache. It turned out that it was due to emergently high blood pressure. Ordinarily, this is easily treatable, but because Ms. C had gone without care for so long, she was now in danger of a stroke. Only the emergency room could provide relief. But for Ms. C, like so many others in Alabama, that relief was accompanied by a bill she could never pay with the risk of unsurmountable debt. Ms. C has since become our regular patient. While her health has improved, there is only so much a group of well-intentioned medical students can do.
Had Ms. C received medical care during the years before we saw her, her high blood pressure could have been controlled before it left her with permanent injuries. Despite treatment, the chronic issues from those years without care now leave her unable to work. And at 58 years of age, her options are running low.
Posted by Warm Southern Breeze on Monday, April 28, 2014
Here’s a fun-n-easy guessing game!
(Emphasis on “easy.”)
Don’t be scared or intimidated by the fill-in-the-blanks.
(Which appear as _?nation?_.)
It’s really only two answers.
(The other answer is _?currency?_.)
HINT: (None of which are “United States.”)
The CIA World Factbook
The _?nation?_ economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, _?_ had experienced more than 20 years of continued economic growth, averaging 3.5% a year.
Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high _?currency?_ has hurt the manufacturing sector, while the services sector is the largest part of the _?nation?_ economy, accounting for about 70% of GDP and 75% of jobs.
_?nation?_ was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control.
When pressed on the matter, he later defined “full employment” as having state unemployment somewhere around 5%. It is a promise to which, as of the date of this entry – 12 April 2014 – he has kept. In other words, Alabama has NOT reached “full employment,” and he has not been paid a salary. He has, however, been compensated for out-of-pocket expenses (the governor’s office has a budget, so why would he personally have any such expenses for work in an official capacity?), though he has received – as legislator, a legally-mandated $1.00 per month salary. Since his election to the governorship, he has not received a salary.
During Governor Robert Bentley’s watch, International Paper – the large paper mill formerly known as Champion Paper, in Courtland, and the largest employer in Lawrence County – closed and cost the area economy & state 1100 jobs. Those jobs were Read the rest of this entry »
A 1948 audio recording of Ronald Reagan shows that he would have opposed the GOP’s policies today. In fact, if the GOP actually knew anything about Reagan’s history, they’d wonder how he even ended up in the party to begin with. The right-wing lunatic fringe runs today’s GOP. Back when this recording was made, Ronald Reagan sounded far more like one of today’s liberal Democrats than a Republican. The difference is astonishing.
Ronald Reagan on the 1946 GOP’s plan to increase people’s real incomes:
“The profits of corporations have doubled, while workers’ wages have increased by only one quarter. In other words, profits have gone up four times as much as wages. And the small increase workers did receive was eaten up by rising prices, which also bored into their savings.”
Gee, that sounds an awful lot like what’s happening now. Soaring corporate profits should mean that workers’ wages go up, also. Instead, more people than ever live paycheck to paycheck, and fewer have any savings to speak of, let alone enough to pay six months of living expenses in case of an emergency. But the stock market has reached record highs several times. So everything’s cool, at least as far as the GOP is concerned.
Ronald Reagan on the “free market” and rising prices:
“High prices have not been caused by higher wages, but by bigger and bigger profits. The Republican promises sounded pretty good in 1946. But what has happened since then? Since the 80th Congress took over? Prices have climbed to the highest level in history, although the death of the OPA was supposed to bring prices down through ‘the natural process of free competition.’”
So, even back then, the Republican ideal of the free market didn’t work the way they insisted, and Ronald Reagan could see that. These days, they still want the government to stay out. They want competition to work for lowering prices and creating jobs. However, the so-called “free market” that they want tends toward monopolies and/or price collusion, which both drive prices up. These two situations prevent new businesses from entering the market to compete, and hurt consumers and workers, while driving profits sky-high.
Posted by Warm Southern Breeze on Monday, March 17, 2014
Recently, I received an email message from a friend, one who is highly intelligent, and who has a phenomenal diversity of life experiences. The item had a video to a Faux News video segment, which is included in this post, at the conclusion.
My response to the half-truthed item follows.
Here’s hoping you and others find it informative, and helpful.
While I have neither been the type to proclaim THE SKY IS FALLING! THE SKY IS FALLING! nor believe there is conspiracy against me, nor the paranoid type that imagines “the government” is out to get me (and therefore neither view nor read Fox News), I do think there is some credence to the item. (Of course, a “Snopes check” shows a mix of half-truths. But, if it ain’t all true, it ain’t true – kinda’ like the gas, you know.) More details on that follow.
While residing there, I also noticed the same, and noticed that the price for 100% pure gasoline is higher than for the 10% ethanol blend. One day, while pumping the 100% gasoline at a Chattanooga gas station, I happened to speak with a gent at the adjacent pump about the difference. He shared an observation with me which I thought quite interesting, and one which certainly seemed reasonable.
He said that in an “accidental” experiment, he purchased some 10% ethanol blended gasoline for use in his lawn mower. He then poured some of the 10% ethanol blended gas into a glass jar, and let it set out at least overnight (or a bit longer). He observed that it had become cloudy from the accumulation of humidity.
While I’ve never tried such an experiment, I do note that many years ago, on occasion, I would run my little carbureted Toyota’s gas tank empty, and would then fill it up with 1 gallon each of Methanol, 100LL, Toluene, Xylene and Methyl Ethyl Ketone. I did so for at least two reasons: 1.) to get any water in the fuel tank & system out, and; 2.) to “clean out” any deposits that may have formed in the fuel system.
Posted by Warm Southern Breeze on Saturday, February 22, 2014
At the federal level, TEApublican types have decried our national deficit, much – if not most – of which came about as a result of placing the price of a decade of warfare on a proverbial credit card. I refer, of course, to the Persian Gulf War, Gulf War II, Operation Desert Shield/Storm and the invasion of Afghanistan, etc., all of which occurred during the previous administration.
Compounding that problem was that corporate and personal income tax rates upon the wealthiest was cut, while simultaneously, the veritable house of cards was crumbling, having been built upon the miry, sinking sands of Wall Street deregulation & greed gone wild.
Nevertheless, as our nation has struggled and clawed its way back to some semblance of fiscal sanity, there have been voices arising whom assert that the federal government’s “bailout” of banks & other large, corporate enterprise has been a gross mistake, and that such a bailout should have never occurred. And, while there will doubtless be volumes written, and debates held about the good and the bad of the ordeal, what’s been done, has been done, and it’s practically all over, but the crying. So the only thing we can do now, is live & learn, and move on.
And yet, respecting one underlying problem which arose corollary to the matter, is the loss of jobs here at home. Again, it was complicated by ‘globalization,’ which – good, bad, or indifferent – is Read the rest of this entry »
Posted by Warm Southern Breeze on Saturday, September 14, 2013
More than a few folks recall the significant benefit the Civilian Conservation Corps (CCC) provided this nation, and how our nation’s infrastructure (roads, waterways, electrical power grid, etc.) grew during that time. In Monte Sano State Park, in Huntsville, Alabama, there are cabins which are STILL standing, and which are in EXCELLENT repair, that were constructed by the CCC. It is testament to their quality, and to the effort to put people to work in this nation in the aftermath of the Great Depression.
Sadly, this largely Republican-led, “just-say-no” congress has done NOTHING to produce or encourage any type of jobs. That is to say, they have written NO BILLS to promote, encourage or stimulate hiring. NONE.
And yet, there is a sure-fire, time-tested way to get folks back to work – and what is being done about it?
Empirical investigations of the role of human capital require accurate measures across countries and over time. This column describes a new dataset on educational attainment for 146 countries at 5-year intervals from 1950 to 2010. The new data, freely available online, use more information and better methodology than existing datasets. Among the many new results is that the rate of return to an additional year of schooling on output is quite high – ranging from 5% to 12%.
It is widely accepted that human capital, particularly attained through education, is crucial to economic progress. An increase in the number of well-educated people implies a higher level of labour productivity and a greater ability to absorb advanced technology from developed countries (Acemoglu 2009). Empirical investigations of the role of human capital require accurate and internationally-comparable measures of human capital across countries and over time.
Our earlier studies (1993, 1996, and 2001) constructed measures of educational attainment of the adult population for a broad group of countries. This column introduces a new data set (available at barrolee.com) providing improved estimates for 146 countries at 5-year intervals from 1950 to 2010. The data are Read the rest of this entry »
Throughout the city there are narrow streets, many (if not most) of which need widening and repaving. Interstate 24, which leads into the city, is in sore need of widening. Because of the twisting, winding route it takes as it leads into, through and around the city and it’s numerous mountains and hills, it can be treacherous. When any slowdown for any reason occurs, traffic can be backed up for 15-20 miles, or more. When wrecks occur on that route, they’re often fatal, and create even longer delays. The only other major route into the city is US Highway 72. There is no bypass. If there are problems on either of those two routes, significant delays can take hours. (See a Google Map of the area.)
Because of industrial waste released by area manufacturing, in 1969, Chattanooga had the filthiest air in the nation. The Tennessee River which serves as a boundary for the area was equally polluted. For many years, troubles GALORE plagued the city, including economic inequality, poor race relations, deteriorating economic infrastructure, rapid population decline, and departure of industry.
Recognizing that the city and area residents were suffering a slow suicide, officials and interested citizens embarked upon a plan to revitalize the area, including cleaning up industrial waste, reinvigorating the economy with employment opportunity, and looking forward, rather than backward.
EPB (Electric Power Board), one of the public utilities in the area, came upon an idea to infuse their power grid with Fiber Optic cable to enable better response times, to pinpoint areas of concern, and to re-route electricity during power outages when lines were downed by trees or severe weather. They faced stiff opposition in the form of legal fights by Comcast (principally), yet were successful in overcoming. In turn, they sold High Speed fiber optic Internet Connectivity to area residents at a significantly reduced cost in comparison to the Wall-Street-traded Comcast. They also provide better service.
While the area’s renaissance is by no means complete, it has advanced with enormously significant strides.
Obama to visit uneven Chattanooga area recovery
published Saturday, July 27th, 2013
Mike Pare, Deputy Business Editor, Chattanooga Times Free Press; MPare@ TimesFreePress.com phone: (423) 757-6318
When President Barack Obama flies into Chattanooga on Tuesday to tout new economic initiatives, he’ll see a city recognized in a national study as a metro area emerging from the recession as an “economic frontrunner.”
Area Development, a national business magazine covering site selection and relocation, ranked metro Chattanooga at No. 86 — in the top quarter — among 380 metro areas examined for the study titled “Leading Locations for 2013.”
While in Chattanooga Obama is expected to unveil new ways to spur the nation’s sluggish economic recovery.
White Male Audience Member: Yes, I’d like to direct my question to Mr. Perot. What will you do, as President, to open foreign markets to fair competiton from American business, and to stop unfair competition here at home from foreign countries, so that we can bring jobs back to the United States?
Ross Perot: That’s right at the top of my agenda.
We’ve shipped millions of jobs overseas, and uh… we have a strained situation because we have a process in Washington, where after you’ve served for a while, you cash in, become a foreign lobbyist, make $30,000 a month, then take a leave, work on presidential campaigns, make sure you got good contacts, and then go back out.
And if you just want to get down to brass tacks, the first thing you ought to do is get all these folks who got these one-way trade agreements that we’ve negotiated over the years, and say ‘fellas, we’ll take the same deal we gave you.’ And they’ll gridlock right at that point, because, Read the rest of this entry »
Men now comprise 10% of all Nurses in the United States, up from 3% several years ago. / Getty Images
Hospital patients are more likely than ever to see a male nurse at their bedside — and odds are he earns more than the female nurse down the hall. Men made up close to 10% of all registered nurses in 2011, according to a new Census report released today. That may not sound like much, but it’s up from less than 3% in 1970 and less than 8% in 2000.
It’s no mystery what is drawing men into nursing. Male-dominated professions such as construction and manufacturing hemorrhaged jobs during the recession and have been slow to rebound during the recovery. The health-care sector, meanwhile, actually added jobs during the recession and has continued to grow since. All told, health-care employment is up by Read the rest of this entry »
It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”
• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”
While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.
With the passage of the American Taxpayer Relief Act earlier this week, more than 98 percent of Americans and 97 percent of small businesses now have certainty that their income taxes will not rise. Additionally, unemployment insurance was extended for two million Americans who are searching for a job, and companies will continue to receive tax credits for the research that they do and continue to have tax incentives to accelerate investment in their businesses. By allowing income tax cuts for the top two percent of earners to expire, this legislation further reduces the deficit by $737 billion over the next decade. It is important that we continue to move toward a sustainable federal budget in a responsible way that balances revenue and spending while protecting critical investments in the economy and essential support for our most vulnerable citizens.
Posted by Warm Southern Breeze on Monday, December 31, 2012
This Do-Nothing Congress is, without question, the absolutely WORST Congress EVER!
More filibustering & taxes, less law-making, less-governance.
That must be what they mean when they talk about “smaller government,” or “less laws.”
Farm-State Lawmakers Back Plan to Avoid ‘Dairy Cliff’ Price Jump
By Alan Bjerga & Derek Wallbank – Dec 31, 2012 12:01 AM ET
House Agriculture Committee Chairman Frank Lucas and Senate Agriculture Committee Chairman Debbie Stabenow are backing a short-term extension of a farm law that lapsed Sept. 30 as the Obama administration warns that without congressional action, retail milk prices could almost double.
“I would hope that as soon as is humanly possible, a decision will be made to allow us to take action” on the extension, Lucas told reporters off the House floor. “We need to take positive action, put this issue to rest, and make sure that it is clear to everybody in this country that the farm bill policy has certainty and that we will not have $8 or $9 milk.”
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow. Photographer: Scott Olson/Getty Images
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow. Photographer: Scott Olson/Getty Images
The draft bill would extend current law, along with disaster aid for producers affected by this year’s U.S. drought and changes to current milk policy, through Sept. 30. It would reduce mandatory outlays by $30 million through fiscal 2022, according to the Congressional Budget Office. The bulk of the spending would come in the first year, and as such it would actually increase spending by an estimated $555 million through fiscal 2017.
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow.
The second measure would extend most of the current law through Jan. 31, and the third would protect only against possible dairy-price spikes. Those two are opposed by House and Senate Democratic agriculture leaders. Representative Collin Peterson of Minnesota, the top Democrat on the House Agriculture Committee, called a 30-day extension a “poor joke on farmers that offers no certainty.”
The most recent farm law, enacted in 2008, expired after attempts to pass a new five-year proposal failed. Without that plan, agricultural programs automatically return to rules passed in 1949, the basis of all subsequent legislation.
The effects of that transition have been delayed because of the growing seasons of different crops. Dairy production, a year-round business, is the first major commodity affected. In November, the U.S. Department of Agriculture Read the rest of this entry »
Posted by Warm Southern Breeze on Wednesday, December 26, 2012
Perhaps the most telling rationale, or motivation for the course upon which corporations have set is explained in this statement by ANDREW SMITHERS:Yes, the current way in which managements are rewarded is perverse from an economic viewpoint. Adam Smith pointed out that some characteristics of human beings such as greed, which are often unpleasant at a personal level, can nonetheless bring social benefits. But this is not necessarily the case under current remuneration systems; greed is increasingly the cause of harm rather than help to the economy.
The long and short of it, is greed. And in that paragraph is the solitary mention of the word or practice.
Philosophically, this time, this period in our nation’s history – and in the history of the world, and in the greater, long term picture of humanity – is yet another prime example, and case in point illustrating why and how the selfishness of greed is unsustainable and genuinely evil.
Capital Wins, Labor Loses, But Andrew Smithers Says It Can’t Go On
No, Shayne/Hazard is no one-trick pony. He is also a noted money manager, recently highlighted by Forbes magazine for his perspicacity in stock-picking. Wrote Forbes: “If you follow the stock market, Jon Shayne is worth a good, long listen. Especially now.”
Having listened to Jon plenty over the past few years, I agree, especially with his emphasis on the increasing share of national income commanded by the owners of capital, in contrast to labor. This angle is the focus of Forbes’ story as well.
So I asked Jon to elaborate for the Making Sen$e audience. He has done so by interviewing the person who inspired his thoughts on the subject, British economist Andrew Smithers, who formerly ran the asset management business of S.G. Warburg, and now Read the rest of this entry »