NPR is not real news
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From: photoartgal <cindy@cindymcintyre.com>
To: artshow_photo@yahoogroups.com
Sent: Tue, January 4, 2011 8:28:06 AM
Subject: [artshow_photo] Re: Taking off / economy
Okay, I get pretty incensed when screwy opinions are passed off as facts. Rod is
living in an alternate universe of wishful thinking. Not sure if he ever listens
to NPR for real news, but here are several links that will burst his
faux-optimistic bubble.
http://marketplace.publicradio.org/display/web/2010/12/03/pm-get-used-to-this-high-unemployment-rate/
First off, according to former Labor Secretary Robert Reich, many corporations
used the recession as the excuse they've been looking for to ship good paying
jobs overseas where they can pay less. Those jobs are NOT coming back. Even
Mall*Wart and the discount stores don't rely so much on US buyers anymore and
are making huge profits overseas where we've shipped our jobs to. So there's not
much incentive to making sure Americans have a decent wage, which is about three
times the minimum wage at the very least, to purchase their goods.
To quote him:
"The two American economies -- the Big Money economy and the Average Working
Family economy -- will continue to diverge. Corporate profits will continue to
rise, as will the stock market. But typical wages will go nowhere, joblessness
will remain high, the ranks of the long-term unemployed will continue to rise,
the housing recovery will remain stalled, and consumer confidence will sag.
"The big disconnect between corporate profits and jobs is likely to continue
because America's big businesses are depending less and less on U.S. sales and
U.S. workers. Their big profits are coming from two sources: (1) growing sales
in China, India, and other fast-growing countries, and (2) slimmed-down US
payrolls. "
Source:
http://www.opednews.com/articles/New-Year-Predictions-The-by-Robert-Reich-101230-424.html
Yeah, $8 an hour employees of Dollar General (most probably part-time, no
benefits) can afford a $100 piece of art. And I've got a piece of swampland to
sell you, Rod.
The very rich are indeed getting richer. They live in a rarified universe and
are most likely to patronize upscale galleries than they are to mingle with the
riff-raff at the art shows. Who's buying the millions of foreclosed homes and
flipping them for a 12-15 percent or more profit, sometimes with little more
than cosmetic improvements? Investors! With cash up front.
NPR Morning Edition Jan 3, 2011
http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=132613636&m=132613666
The stock market is not an indicator of how average Americans are doing. It is
legalized gambling and you need to have money to play in that casino, and can
afford to lose it when somebody cries wolf and the market takes a plunge. (See
how financiers engineered stock market crashes in the past. This is also an
illuminating view of the Federal Reserve, not just for conspiracy theorists:
Zeitgeist Part III
http://video.google.com/videoplay?docid=-1693084887024293324#
Not sure whether you got a refinance from a legitimate company, Rod, or one
patterned after the sub-prime mortgage market which engineered this huge
Recession we are still in (stock market performance to the contrary.) NPR
reported that banks are tightening credit for everyone. Sub-prime lenders, and
"legitimate" lenders who resold mortgages in bits and pieces to overseas and
domestic investors as mortgage-backed securities didn't care if you could repay
the debt. It wasn't THEIR money. Thus the crash.
For a primer on the Recession:
http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money
http://www.thisamericanlife.org/radio-archives/episode/365/another-frightening-show-about-the-economy
http://www.thisamericanlife.org/radio-archives/episode/390/return-to-the-giant-pool-of-money
The middle class is our real market, and the middle class is fast shrinking.
"There's class warfare, all right," Mr. [Warren] Buffett said, "but it's my
class, the rich class, that's making war, and we're winning."
http://www.nytimes.com/2006/11/26/business/yourmoney/26every.html?_r=1
Unemployment figures don't include people who have given up looking for jobs,
and self-employed people who are now under- or unemployed. They don't qualify
for unemployment benefits. And getting re-employed after a year or two means a
lot of catching up with bills. And for those who defaulted on homes or credit
cards, etc. they may never get re-hired, since employers now do credit checks.
They will probably never qualify for a home loan again, and may even be denied a
rental home due to poor credit, since landlords also have access to your credit
history. This relationship, which could make you unemployable, is the modern
version of the Debtor's Prison.
So do a little research into reality, Rod, or else pass out rose-colored glasses
to the rest of us.
--- In artshow_photo@yahoogroups.com, "Grinder" <grinder12000@...> wrote:
>
> And there is the problem - people feel wrongly cautious. Not saying they should
>throw caution to the wind but corporations are BURSTING with profits - companies
>are hiring back people (back) right and left. Dollar General just said they are
>hiring 6000 people this year.
>
>
> Rod
>
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