Wednesday, November 28, 2012
Recession over
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Letter: Recession over
November 28, 2012, 05:00 AM Letter
Editor,
Drawn by aggressive discounts and earlier-than-ever opening hours, shoppers opened their wallets on Black Friday weekend in record numbers and handed retailers a promising start to the holiday season. Merchants raked in an estimated $59.1 billion in sales from Thanksgiving Day through Sunday, up from $52.4 billion a year earlier, as millions flocked to stores and browsed online, according to the National Retail Federation. Spending per shopper jumped 6 percent to $423.
The true purpose behind having a holiday called “Thanksgiving” is being totally obliterated by a tsunami of greed. Meanwhile, more Americans than ever are living in poverty this year and very few people even seem to notice. However, perhaps we should all take time this week to remember the tens of millions of Americans that are going to be deeply suffering this winter. They keep telling us that the recession is over, and yet poverty continues to spread like an out of control plague. But, for most Americans, life is still relatively normal, and so the horrible suffering going on out there doesn’t really affect them.
Ted Rudow III, MA
Palo Alto
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Tsunami of greed
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Peninsula readers' letters: November 27
From Daily News Group readers mercurynews.com
Posted: 11/26/2012 03:47:14 PM PST
November 27, 2012 6:39 AM GMT
Tsunami of greed
Dear Editor: Drawn by aggressive discounts and earlier-than-ever opening hours, shoppers opened their wallets on "Black Friday" weekend in record numbers and handed retailers a promising start to the holiday season. Merchants raked in an estimated $59.1 billion in sales from Thanksgiving Day through Sunday, up from $52.4 billion a year earlier, as millions flocked to stores and browsed online, according to the National Retail Federation. Spending per shopper jumped 6 percent to $423.
The true purpose behind having a holiday called Thanksgiving is being totally obliterated by a tsunami of greed. Meanwhile, more Americans than ever are living in poverty this year and very few people even seem to notice. However, perhaps we should all take time this week to remember the tens of millions of Americans who are going to be deeply suffering this winter. They keep telling us that "the recession is over" and yet poverty continues to spread like an out-of-control plague. But for most Americans, life is still relatively normal, and so the horrible suffering going on out there doesn't really affect them.
Ted Rudow III, MA
Palo Alto
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Peninsula readers' letters: November 27
From Daily News Group readers mercurynews.com
Posted: 11/26/2012 03:47:14 PM PST
November 27, 2012 6:39 AM GMT
Tsunami of greed
Dear Editor: Drawn by aggressive discounts and earlier-than-ever opening hours, shoppers opened their wallets on "Black Friday" weekend in record numbers and handed retailers a promising start to the holiday season. Merchants raked in an estimated $59.1 billion in sales from Thanksgiving Day through Sunday, up from $52.4 billion a year earlier, as millions flocked to stores and browsed online, according to the National Retail Federation. Spending per shopper jumped 6 percent to $423.
The true purpose behind having a holiday called Thanksgiving is being totally obliterated by a tsunami of greed. Meanwhile, more Americans than ever are living in poverty this year and very few people even seem to notice. However, perhaps we should all take time this week to remember the tens of millions of Americans who are going to be deeply suffering this winter. They keep telling us that "the recession is over" and yet poverty continues to spread like an out-of-control plague. But for most Americans, life is still relatively normal, and so the horrible suffering going on out there doesn't really affect them.
Ted Rudow III, MA
Palo Alto
Monday, November 26, 2012
Recession over?
http://www.indybay.org/newsitems/2012/11/26/18726481.php
Recesion over?
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Monday Nov 26th, 2012
Drawn by aggressive discounts and earlier-than-ever opening hours, shoppers opened their wallets on Black Friday weekend in record numbers and handed retailers a promising start to the holiday season.Merchants raked in an estimated $59.1 billion in sales from Thanksgiving Day through Sunday, up from $52.4 billion a year earlier, as millions flocked to stores and browsed online, according to the National Retail Federation. Spending per shopper jumped 6% to $423.
The true purpose behind having a holiday called "Thanksgiving" is being totally obliterated by a tsunami of greed. Meanwhile, more Americans than ever are living in poverty this year and very few people even seem to notice. However, perhaps we should all take time this week to remember the tens of millions of Americans that are going to be deeply suffering this winter. They keep telling us that "the recession is over" and yet poverty continues to spread like an out of control plague. But for most Americans life is still relatively "normal", and so the horrible suffering going on out there doesn't really affect them.
Ted Rudow III, MA
Recesion over?
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Monday Nov 26th, 2012
Drawn by aggressive discounts and earlier-than-ever opening hours, shoppers opened their wallets on Black Friday weekend in record numbers and handed retailers a promising start to the holiday season.Merchants raked in an estimated $59.1 billion in sales from Thanksgiving Day through Sunday, up from $52.4 billion a year earlier, as millions flocked to stores and browsed online, according to the National Retail Federation. Spending per shopper jumped 6% to $423.
The true purpose behind having a holiday called "Thanksgiving" is being totally obliterated by a tsunami of greed. Meanwhile, more Americans than ever are living in poverty this year and very few people even seem to notice. However, perhaps we should all take time this week to remember the tens of millions of Americans that are going to be deeply suffering this winter. They keep telling us that "the recession is over" and yet poverty continues to spread like an out of control plague. But for most Americans life is still relatively "normal", and so the horrible suffering going on out there doesn't really affect them.
Ted Rudow III, MA
RaisetheFist
RaisetheFist
post comment
FEATURE THIS
lick here to listen
The elite white liberal establishment is a minority. The white poor is not part of that. The white working class is not part of that. If you really want to talk about being dependent on government, $16 trillion for Wall Street, not one of them gone to jail involved in the criminal activity linked to predatory lending, market manipulation or insider trading. The government protects them. Jamal gets caught with a crack bag; he going to jail. But Mr. McGillicuddy gets caught on Wall Street; he's protected by the government. Neither administration Bush, Obama have any investigations, no prosecutions at all.
So the folk who are really dependent, they get interest-free loans from the Federal Reserve. Wouldn't it be nice if students could get interest-free loans we're living in a society where everybody is up for sale. Everything is up for sale. They have sold their souls for a mess of Obama pottage. Is he going to put himself on the line for poor people? Is he going have an honest conversation about drones? To assassinate American citizens based on executive power? That's not that is authoritarian. That's autocratic. It's crypto-fascist.
Ted Rudow III. MA
Spartan Daily
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Updated 11:09 pm November 19, 2012
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Reader's letters about Sept. 11 attacks make no sense
by defaultuser Oct 25, 2001 12:00 am Sept. 11
Sept. 11 attacks make no sense"
Here's the commentary from Ted Rudow. In his Oct.19 letter, Rudow states, "For all we know, the government could
just be framing those people, Osama bin Laden and all his
cohorts."
I must admit; I'm a little disappointed. Why stop there? Nothing
really happened at the World Trade Center. In fact, the story on the
East Coast is of a hijacked plane crashing into the Hollywood
sign. Oddly enough, they're celebrating in Time Square.
And what about that Holocaust thing (Letters, Oct. 19)? Does
anyone honestly buy that anymore? Our government has made up
all of this.
Silliness aside, when it comes between putting faith in my
country's leaders or in Rudow's paranoia, I'm going to choose my
leaders. What they say makes more sense than a man who
jumps at his own shadow. If our government wanted to fabricate
evidence against Osama bin Laden in order to quench our "lust"
for war, they could have done that with the Oklahoma City
bombing.
However, Rudow does make one valid point, and that is the young
generation is handed the dirty work of those in charge. This does
not make the decision of our leaders any less valid. Sadly, war is a
young man's game, and as a young man I have to prepare myself
for possible enlistment if not drafting, depending on how events
pan out.
But before we bemoan the unfairness of it all, every person in
power was young once, too, and many of them had to accept the
same facts of life. For example, President John F. Kennedy served
in WWII.
Furthermore, the sacrifice of our troops is not the same as the
sacrifices of children made to the ancient deity Molech (Lev. 18:2
1), which Rudow outrageously conveys, attempting to sound
righteous.
We are not sacrificing young Americans to some god in a ritual.
Rather we are accepting the possible sacrifice of some as a result
in our goal to bring about justice.
Of course, Rudow's not the only one using apathetic religion to
oppose war. There's also Todd Hendry, who states in "Opposing
Views," Oct. 17, "We should just leave everything in the hands of
God."
Well gee, what a cop-out excuse to do nothing.
Jonathan Dekle Reagan
junior
English
Thursday, November 22, 2012
Everything Is Up for sale
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November 21, 2012 Columns & Blogs » Letters to the Editor
Letters to the Editor:November 21, 2012
Letters to the Editor:November 21, 2012
Comments
Everything Is Up for Sale
If you really want to talk about being dependent on government, talk about $16 trillion in covert bailouts for Wall Street, and not one of those involved in predatory lending, market manipulation or insider trading has gone to jail. The government protects them. Jamal gets caught with a crack bag; he's going to jail. But Mr. McGillicuddy gets caught on Wall Street; he's protected by the government. Neither administration—Bush, Obama—has pursued any investigations or prosecutions.
So the folks who are really dependent, they get interest-free loans from the Federal Reserve. Wouldn't it be nice if students could get interest-free loans? We're living in a society where everybody is up for sale. Everything is up for sale. They have sold their souls for a mess of Obama pottage. Is he going to put himself on the line for poor people? Is he going have an honest conversation about drones? To assassinate American citizens based on executive power?
—Ted Rudow
Palo Alto
raise the fist
raise the fist
FEATURE THIS The Dead Sea : Indybay
by Ted Rudow III, MA
In recent years, it's been discovered that these chemicals are very valuable,and they're now being extracted from the waters of the Dead Sea.
They estimate that the chemicals of the Dead Sea, including bromides, from which they make ethyl gasoline and medicines, nitrogen for explosives and potashes, which are used for fertiliser, so on, are worth $250 trillion!
The Dead Sea is worth more money than is in all the banks in the whole world: $250 trillion worth of chemicals!--A very valuable prize for any conquering nation that would like to have it! One of these days, according to Bible prophecy, Russia is going to march on Israel and try to capture all of this wealth. At the present time, Israel touches part of the Dead Sea. On the other side, it's surrounded by Jordan, which used to be called Trans-Jordan, because it was across the Dead Sea and across the Jordan.
Ted Rudow III, MA
Tuesday, November 20, 2012
Caught on Wall St
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17 Monday, November 19, 2012
Letters
Caught on Wall St
Ted Rudow III, M.A, Encina Ave, Palo Alto, CA
The elite white liberal establishment is a minority. The white poor is not part of that. The white working class is not part of that. If you really want to talk about being dependent on government, $16 trillion for Wall Street, not one of them gone to jail involved in the criminal activity linked to predatory lending, market manipulation or insider trading.
The government protects them. Jamal gets caught with a crack bag; he is going to jail. But Mr. McGillicuddy gets caught on Wall Street; he's protected by the government. Neither administration -- Bush, Obama -- have any investigations, no prosecutions at all.
So the folk who are really dependent get interest-free loans from the Federal Reserve. Wouldn't it be nice if students could get interest-free loans? We're living in a society where everybody is up for sale. Everything is up for sale. They have sold their souls for a mess of Obama pottage.
Is he going to put himself on the line for poor people? Is he going to have an honest conversation about drones? To assassinate American citizens based on executive power? That's not that is authoritarian. That's autocratic. That's crypto-fascist!
© 2012 thedailystar.net. All Rights Reserved
Gone are the days
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Letter: Gone are the days
November 19, 2012, 05:00 AM
Editor,
Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin color. And gone is the spirit of renewal after former President John F. Kennedy’s visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That’s when an ultimatum expires. That is known as the “fiscal cliff,” which Democrats and Republicans set for themselves after the dramatic failure of their budget negotiations in the summer of 2011 so as not to drive the world’s largest government budget against a wall. If both sides can’t agree to a joint solution, budget cuts and tax increases will automatically take effect on Dec. 31, which will massively reduce the deficit by $900 billion.
President Obama has announced that he will veto any proposal that doesn’t include higher taxes for the rich. Now the United States alone, one government alone, owes that much money to the world! And of course, the rest of the world, they owe their governments too because they’re all operating on deficit spending.
Ted Rudow III, MA
Palo Alto
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Friday, November 16, 2012
Caught on Wall St
http://www.indybay.org/newsitems/2012/11/16/18725841.php
Caught on Wall St
by Ted Rudow III, MA
Friday Nov 16th, 2012
The elite white liberal establishment is a minority. The white poor is not part of that. The white working class is not part of that. If you really want to talk about being dependent on government, $16 trillion for Wall Street, not one of them gone to jail involved in the criminal activity linked to predatory lending, market manipulation or insider trading.
The government protects them. Jamal gets caught with a crack bag; he going to jail. But Mr. McGillicuddy gets caught on Wall Street; he’s protected by the government. Neither administration—Bush, Obama—have any investigations, no prosecutions at all.
So the folk who are really dependent, they get interest-free loans from the Federal Reserve. Wouldn’t it be nice if students could get interest-free loans we’re living in a society where everybody is up for sale. Everything is up for sale. They have sold their souls for a mess of Obama pottage. Is he going to put himself on the line for poor people? Is he going have an honest conversation about drones? To assassinate American citizens based on executive power? That’s not—that is authoritarian. That’s autocratic. It’s crypto-fascist.
Ted Rudow III. MA
Caught on Wall St
by Ted Rudow III, MA
Friday Nov 16th, 2012
The elite white liberal establishment is a minority. The white poor is not part of that. The white working class is not part of that. If you really want to talk about being dependent on government, $16 trillion for Wall Street, not one of them gone to jail involved in the criminal activity linked to predatory lending, market manipulation or insider trading.
The government protects them. Jamal gets caught with a crack bag; he going to jail. But Mr. McGillicuddy gets caught on Wall Street; he’s protected by the government. Neither administration—Bush, Obama—have any investigations, no prosecutions at all.
So the folk who are really dependent, they get interest-free loans from the Federal Reserve. Wouldn’t it be nice if students could get interest-free loans we’re living in a society where everybody is up for sale. Everything is up for sale. They have sold their souls for a mess of Obama pottage. Is he going to put himself on the line for poor people? Is he going have an honest conversation about drones? To assassinate American citizens based on executive power? That’s not—that is authoritarian. That’s autocratic. It’s crypto-fascist.
Ted Rudow III. MA
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Gone are the days
Ted Rudow III, MA, Encina Ave, Palo Alto, CA
Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin colour. And gone is the spirit of renewal after former President John F. Kennedy's visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That's when an ultimatum expires that is known as the “fiscal cliff,” which Democrats and Republicans set for themselves, after the dramatic failure of their budget negotiations in the summer of 2011, so as not to drive the world's largest government budget against a wall. If both sides can't agree to a joint solution, budget cuts and tax increases will automatically take effect on December 31 that will massively reduce the deficit by $900 billion.
President Obama has announced that he will veto any proposal that doesn't include higher taxes for the rich. Now the United States alone, one government alone owes that much money to the world! And of course the rest of the world, they owe their governments too, because they're all operating on deficit spending!
Monday, November 12, 2012
Gone are the days
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Peninsula readers' letters: November 10
From Daily News Group readers
mercurynews.com
Posted: 11/09/2012 06:32:22 PM PST
November 10, 2012 7:34 AM GMTUpdated: 11/09/2012 11:34:08 PM PST
Gone are the days
Dear Editor: Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin color. And gone is the spirit of renewal after former President John F. Kennedy's visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That's when an ultimatum expires that is known as the "fiscal cliff," which Democrats and Republicans set for themselves, after the dramatic failure of their budget negotiations in the summer of 2011, so as not to drive the world's largest government budget against a wall. If both sides can't agree to a joint solution, budget cuts and tax increases will automatically take effect on Dec. 31 that will massively reduce the deficit by $900 billion.
President Obama has announced he will veto any proposal that doesn't include higher taxes for the rich. Now the United States alone owes that much money to the world. And of course the rest of the world, they owe their governments too because they're all operating on deficit spending.
Ted Rudow III,
Palo Alto
Copyright 2012 San Jose Mercury News. All rights reserved.
Saturday, November 10, 2012
Gone are the days
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Date: Sat, Nov 10, 2012 11:52 am
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Peninsula readers' letters: November 10
From Daily News Group readers mercurynews.com
Posted: 11/09/2012 06:32:22 PM PST
November 10, 2012 7:34 AM GMTUpdated: 11/09/2012 11:34:08 PM PST
Gone are the days
Dear Editor: Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin color. And gone is the spirit of renewal after former President John F. Kennedy's visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That's when an ultimatum expires that is known as the "fiscal cliff," which Democrats and Republicans set for themselves, after the dramatic failure of their budget negotiations in the summer of 2011, so as not to drive the world's largest government budget against a wall. If both sides can't agree to a joint solution, budget cuts and tax increases will automatically take effect on Dec. 31 that will massively reduce the deficit by $900 billion.
President Obama has announced he will veto any proposal that doesn't include higher taxes for the rich. Now the United States alone owes that much money to the world. And of course the rest of the world, they owe their governments too because they're all operating on deficit spending.
Ted Rudow III,
Palo Alto
Copyright 2012 San Jose Mercury News. All rights reserved.
Gone are the days
http://www.indybay.org/newsitems/2012/11/10/18725452.php
Gone are the days
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Saturday Nov 10th, 2012 12:07 PM
Gone are the days
Dear Editor: Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin color. And gone is the spirit of renewal after former President John F. Kennedy's visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That's when an ultimatum expires that is known as the "fiscal cliff," which Democrats and Republicans set for themselves, after the dramatic failure of their budget negotiations in the summer of 2011, so as not to drive the world's largest government budget against a wall. If both sides can't agree to a joint solution, budget cuts and tax increases will automatically take effect on Dec. 31 that will massively reduce the deficit by $900 billion.
President Obama has announced he will veto any proposal that doesn't include higher taxes for the rich. Now the United States alone owes that much money to the world. And of course the rest of the world, they owe their governments too because they're all operating on deficit spending.
Ted Rudow III, MA
Gone are the days
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Saturday Nov 10th, 2012 12:07 PM
Gone are the days
Dear Editor: Gone are the days when former President Dwight D. Eisenhower launched bold government programs to cover a country 27 times the size of Germany with a network of interstate highways. Gone are the years when former President Lyndon B. Johnson declared war on poverty and enacted federal laws declaring that there could be no second- or third-class citizens, regardless of skin color. And gone is the spirit of renewal after former President John F. Kennedy's visionary promise to send Americans to the moon within a decade, a program that would cost taxpayers billions.
That's when an ultimatum expires that is known as the "fiscal cliff," which Democrats and Republicans set for themselves, after the dramatic failure of their budget negotiations in the summer of 2011, so as not to drive the world's largest government budget against a wall. If both sides can't agree to a joint solution, budget cuts and tax increases will automatically take effect on Dec. 31 that will massively reduce the deficit by $900 billion.
President Obama has announced he will veto any proposal that doesn't include higher taxes for the rich. Now the United States alone owes that much money to the world. And of course the rest of the world, they owe their governments too because they're all operating on deficit spending.
Ted Rudow III, MA
Tuesday, November 06, 2012
Pursuit of wealth
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Letters
Pursuit of wealth
Ted Rudow III, MA, Encina Ave, Palo Alto, CA
Mammon is the ancient god of money and wealth. Isn't that what virtually all the world worship above anything else? The rich and the powerful prey on the poor and the weak, just as they always have. Globalisation just gives them more opportunity to do so, and they're very happy about this breakdown of national borders. After all, if workers cost too much in one country, then you can just move your factory to another country where they cost less and are willing to do almost anything under any conditions to have a job. And if you have trouble there, you just take your money and go elsewhere.
They call it capitalism or the pursuit of wealth, but in many cases it's the worship of mammon and the pursuit of greed, and the poor people who are hurt or oppressed by the rich are modern-day slaves in all but name. The rich reap what they sow and the poor rise up and overthrow them. So they're robbing and robbers all the way along the line --not a bit of difference from highway robbery of the olden days when they just stopped caravans and robbed them at the point of a gun or the point of a spear. It's happened in every great rich civilisation, every great World Empire; some poorer or less powerful nation finally overcame them, or their own poor overcame them.
© 2012 thedailystar.net. All Rights Reserved
Friday, November 02, 2012
Pursuit of wealth
p://www.indybay.org/newsitems/2012/11/02/18724990.php
Pursuit of wealth
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Friday Nov 2nd, 2012
Mammon is the ancient god of money and wealth. Isn't that what virtually all the world worship above anything else? The rich and the powerful prey on the poor and the weak, just as they always have. Globalization just gives them more opportunity to do so, and they're very happy about this breakdown of national borders. After all, if workers cost too much in one country, then you can just move your factory to another country where they cost less and are willing to do almost anything under any conditions to have a job. And if you have trouble there, you just take your money and go elsewhere.
They call it capitalism or the pursuit of wealth, but in many cases it's the worship of mammon and the pursuit of greed, and the poor people who are hurt or oppressed by the rich are modern-day slaves in all but name. The rich reap what they sow and the poor rise up and overthrow them.So they're robbing and robbers all the way along the line.--Not a bit of difference from highway robbery of the olden days when they just stopped caravans and robbed'm at the point of a gun or the point of a spear. It's happened in every great rich civilisation, every great World Empire, some poorer or less powerful nation finally overcame them, or their own poor overcame them.
Ted Rudow III, MA
Pursuit of wealth
by Ted Rudow III, MA ( Tedr77 [at] aol.com )
Friday Nov 2nd, 2012
Mammon is the ancient god of money and wealth. Isn't that what virtually all the world worship above anything else? The rich and the powerful prey on the poor and the weak, just as they always have. Globalization just gives them more opportunity to do so, and they're very happy about this breakdown of national borders. After all, if workers cost too much in one country, then you can just move your factory to another country where they cost less and are willing to do almost anything under any conditions to have a job. And if you have trouble there, you just take your money and go elsewhere.
They call it capitalism or the pursuit of wealth, but in many cases it's the worship of mammon and the pursuit of greed, and the poor people who are hurt or oppressed by the rich are modern-day slaves in all but name. The rich reap what they sow and the poor rise up and overthrow them.So they're robbing and robbers all the way along the line.--Not a bit of difference from highway robbery of the olden days when they just stopped caravans and robbed'm at the point of a gun or the point of a spear. It's happened in every great rich civilisation, every great World Empire, some poorer or less powerful nation finally overcame them, or their own poor overcame them.
Ted Rudow III, MA
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Friday, November 2, 2012
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Ted Rudow III, MA, Encina Ave, Palo Alto, CA
You know, and after the S&L crisis, for instance, we went in and there were massive criminal investigations. We put 1,000 people in jail. There were no such investigations this time around. So this was just making everybody well again and restoring everybody to the status quo, which I think was a major mistake because it produced precisely the result we're talking about now. It allowed everybody to think that the previous status quo was okay.
The plainest example is Mitt Romney. I mean, if you look at his tax returns, he paid rates of 14,13 percent. That's totally normal in this world if you work in a private equity fund. He's not an exception. In the financial services industry for sure, the very, very rich mostly receive income as capital gains or if they're private equity people, as carried interest. In both of those, the maximum rate is 15 percent. So people make $20 million, $30 million, $50 million a year like Mitt Romney. You work in a private equity firm, you invest a little bit of your own money. And the gains that you make on that investment would be treated under any definition as a capital gain taxed at 15 percent. But you also earn money because you are investing on behalf of all of your investors. That money that you earn is called carried interest.
Despite how the plutocrats have reacted to Barack Obama, he does not seem to be like FDR, taking on the economic royalists. Barack Obama in many ways is one of them. He is educated the way a plutocrat is educated. He had an opportunity to join the plutocracy. He could very easily right now be a top corporate lawyer. He's a technocrat in the accepted manner of the current plutocracy. And I think they like that. I think that's why he had such a strong reception in 2008.
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