FRONT-ROW SEAT FOR THE PEANUT GALLERY
Some people have had a front-row seat from the peanut gallery to the financial inanity in the USA over decades. Here’s a scenario
*Hired as a secretary in an insurance company at age 18
*Transferred to the sales staff at age 27, mostly due to not being a man and a proven work ethic
*Insurance sales in 1977 was predictable, stodgy, and solid
*Then received P&C licensing to expand portfolio of products
*With loosening of Glass-Steagall, was informed we must all become licensed to sell mutual funds (what’s a mutual fund?)
*Next step was licensing for limited partnership sales
*Next passed the Series 7 exam in fractions, to sell stocks and bonds
*Also coincidentally received licensing to be a principal…LOL
And so went a career that ultimately educated that one was being trained less in the economy and more in capitalism.
Limited partnerships are an interesting product. Consider a brief outline of the product–
*Invest for example $10,000 and become a “silent partner”
*Receive tax breaks for said investment dependent on your personal tax bracket
*A $10,000 investment for a 25% tax bracket could give an investor a $2,500 tax credit per year
*The product matured in 10 years, when the investor may have made a ROR on the initial $10,000 or loose all of the investment
*ROR or loss was irrelevant due to the tax credit
*Use of the investment was for retail property and commercial property development
*Typically this kind of development is suspected to spread what is known as “gentrification”
One gradually realized that while this was an excellent product for many investors, it typified transfer of cash of the nation from the 100% to the 1%.
Meanwhile, Social Security recipients have been besmirched with the label of “entitlements”, and politicians wring their hands because “where will the money come from”?
C-Span hosted discussions about bank failures today.
8:00AM–guest–paraphrase–Brought up the investment by China in the USA. (If China is buying up swaths of US farmland as reported, how is this occupation different from the Russian invasion into Ukraine, aside from immediate violence. Shouldn’t the USA first address this anomaly?)
Some people are blaming diversity for the SVB bank failure. Apparently those who cashed out pre-failure were “traditional types”. This feels like another bait-and-switch similar to blaming retirees for shortages in the Social Security system.
If anything, diversity types are at fault in parroting the behavior of hierarchical Establishment patriarchy. The essence of diversity is a different system rather than banging the square peg of diversity into the round hole of Establishment.
A new and more ethical system is possible unless we label honesty as “Pollyannish” (patriarchal media ‘splaining) which honesty seems diversity types eschew as they “climb the ladder”.
C-Span–guest Andrew Ackerman–paraphrase–WSJ–9:20AM–dared to mention the phrase “Charter Revocation” in a NYS bank (Charter Revocation is a tool supported by The Founders but dismissed by the Supreme Court. We need to bring out this tool when de-regulation exists.)
9:30AM–caller-paraphrase—Nobody with deposits over $250,000 should receive a bail out over that amount.
This SVB bail out, in one person’s opinion, mirrors the “Western values” symptomatic of reported traditional Ukrainian corruption. Wars are often fought on this basis.
Some people question infinite growth using finite resources. —
From steadystate.org — https://steadystate.org/bulldozing-the-planet-materials-use-for-construction/ –Such mutilated landscapes are found across the world. Nearly half the material extracted from them goes to construction of buildings, roads, and other infrastructure, which in turn supports ever-expanding industrial economies. New construction initiatives threaten to compound the damage, from the U.S. Bipartisan Infrastructure Deal to China’s Belt and Road Initiative. As long as the global economy continues to grow, degradation and dysfunction will increasingly impair our planet’s natural systems.
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https://www.aol.com/finance/elizabeth-warren-letter-signature-bank-110000250.html –In a new letter to the CEO of failed bank Signature Bank (SBNY), Sen. Elizabeth Warren (D-Mass.) is demanding answers from a bank she says engaged in “excessive risk-taking” while leaning on a “get-rich-quick narrative” during its foray into the crypto world.
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Remeber East Palestine? Point made as to the bail out of residents of East Palestine as compared to big-deposit depositors at SVB —-
LIVE From East Palestine: EPA LYING to Resident With Toxic Creek Running Under Home
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Native systems of governance are reported to have been used by The Founders in the US Constitution. Capitalism has since been enforced against principles in the US Constitution. Since that time some people have noticed a disturbing suppression of lifestyle ideas in keeping with other than capitalistic systems. Includd in this may be incarceration of those expounding said ideas aside from that of capitalism. This practice can be challenged and brought to light. — https://www.facebook.com/rema.loeb/posts/pfbid02YiDRjeyeZjqNkQVWof3rrzbCa5g4ozLQLWkYD945GqTbnVqhymqMCV7giYi3uMial –Fundraiser for the InternationalLeonard Peltrier Defense Committee to attend United Nations…
–end of remaloeb info–In Solidarity and gratitude
Because history is poorly taught in American educational systems, divers views are important. For those manic against Russian views, they may read a self-defined pro-Ukrainian author on the history of Ukraine and Russia. — https://www.amazon.com/Gates-Europe-History-Ukraine/dp/0465094864 —
“An exemplary account of Europe’s least-known large country” (Wall Street Journal) by an award-winning historian.–end of gates info–
To understand the difference in character of Austria-Hungary and Russia is to glimpse into the intricacy of system differences. Americans should not be afraid to go there.https://www.rt.com/russia/572970-gallows-and-executions-without-end/?utm_source=browser&utm_medium=push_notifications&utm_campaign=push_notifications —
Galicia, a historical region in the West of Ukraine, is currently the center of the country’s nationalist movement. However, things were once very different. A little over a hundred years ago, representatives of opposing Russophile and pro-Ukrainian political movements competed for the loyalty of the local Ruthenian population, also known as Rusyns. Galicia’s Russophiles welcomed the beginning of the First World War as a step toward an anticipated reunion with Russia. However the Ukrainian movement remained loyal to Austria-Hungary. With the help of the latter, Vienna killed off the Rusyn intelligentsia, which it considered a “fifth column”. To accomplish this, the Hapsburgs set up concentration camps.
What happened next amounted to a genocide.
Before the region became the center of Ukrainian nationalism, local Russophiles were annihilated in some of Europe’s first concentration camps
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