Tag Archives: money

Charter Charlatans?

27 Mar

If you live in the NYC area then you know that newly elected mayor, Bill DiBlasio, is working to fulfill a campaign pledge to charge rent to charter schools. The mayor said he wants to charge rent based on how much a school can afford to pay, and he also wants to slow or perhaps even stop the continued growth of the NYC charter school movement so that more focus can be brought back to the public schools. Naturally the charter schools are up in arms over this proposal because charter schools receive rent-free space in city buildings even though they are privately run.

During Mayor Bloomberg’s tenure, Money for charter schools increased from $32 million to $659 million and what was once a modest collection of 17 charter schools has now expanded to 159 charter schools within the city…and overall the NYC education budget has almost doubled to 25 billion dollars from the 13 billion dollars that was being spent when mayor Bloomberg took office.

But the city charter schools, along with receiving free rent from the city also raise quite a lot of money from the private sector including large donations from “philanthropists” like the Waltons of Wal-Mart fame, and the hedge fund billionaire Paul Tudor Jones, along with other prominent Wall Street tycoons, (You probably remember them from the great financial crash of 2008)… Anyway, That’s how Success Academy Charter Schools’ chief executive officer, Eva Moskowitz. can make nearly $500,000 a year to run only 22 “non-profit” schools.

That’s also how Mayor DiBlasio can be opposed by a “nonprofit” charter advocacy group called Families for Excellent Schools. They have organized rallies in Albany, created an internet website and spent 3.6 million dollars on commercials that can be seen constantly throughout the day on television here in the tri-state area. Charter school political action committees have even donated more than 100 thousand dollars to NY Governor Cuomo and other NY state politicians.

So is it a surprise that The Governor says that he is now “Excited” about charter school growth and that Mayor Di Blasio is now beginning to step away from his hardline campaign stance against charter schools?

Isn’t it amazing what money can do? Teachers and educators have always known that money makes a difference when it comes to your child’s education. Can your public schools use its public money to advertise in favor of the public school budget? Do your public schools have 3.6 million dollars that they don’t need for educating your children, to use for creating commercials to “convince” local politicians and influence you to support their efforts in passing the public school budget, let alone raising the school budget?

Money matters! And one has to ask why billionaires are so interested in paying large sums of money in order to gain control of and advertise for the privatization of the public schools in our country… What’s in it for them? And most importantly, what do you think is really in it for you and your children? In the short term privatization always looks good, especially when there is a multimillion dollar ad campaign to help you to try and make up your mind.

But in the long run? Just ask yourself this: When have Wal-Mart, Wall Street tycoons and billionaires ever been interested in spending money on the poorer classes of this country…except when it leads to greater class exploitation and increased profits for themselves?

 

 

 

 

Wanna Bet?

19 Mar

Warren Buffet, Quicken Loans and Yahoo Sports are teaming up to offer 1 billion dollars to the first sports enthusiast to correctly pick a perfect bracket of winners for the upcoming NCAA Basketball Tournament. However, They are limiting the number of contestants to 15 million and should more than one sports enthusiast win, then they will have to split the prize.

But, I wouldn’t worry about that because the odds of picking 63 tournament games correctly are…

9.2 quintillion-to-1!

But that’s if you are just guessing, otherwise, if you know something about NCAA basketball, experts say that your odds increase to…

128 billion- to-1!…So it is possible.

But, no one has ever had a perfect bracket in over 30 million entries in the ESPN competition, which began in 1998…So, it’s a pretty safe bet that this is just a gigantic publicity stunt and an attempt to entice some folks to refinance their homes with a Quicken Loan, while they attempt to fill out their brackets on-line.

But, let’s just say that just one someone…perhaps myself…has picked 62 games correctly… and now with just 1 game to go between the 2 remaining teams, say, Boondock College Vs. MegaState University, and all the world focuses on…ME… to see whether or not I will become an overnight billionaire! And it all hinges on one game! Winner take all! Loser gets Nada. What Hoopla! What Excitement!

And here’s why that could never happen.

If I need Boondock College to win the game so I can become a billionaire all I have to do is to announce that if I win, every player on Megastate U. will get 1 million dollars, and I’ll even throw in 10 million dollars to the University to use for scholarships or bills or whatever…and to be completely fair and magnanimous, I’ll announce the same largess to the Boondock College players and university; A benevolent gift for all involved…as long as I win of course… because I won’t be a billionaire should I lose will I?

I won’t be asking anyone to lose on purpose or not play fair or even suggest anything improper or out of the ordinary. I will just make known my planned generosity should I win the final game of my bracket. I’ll even put in in writing. A total of about 50 million dollars in gifts to all players and both Colleges involved in this most momentous event…after all I stand to win 1,000 million so what’s 50 give or take?

Of course once I do that, everyone in the USA and world for that matter, will bet on Boondock College to win. How could they lose? That would mean that Las Vegas would have to immediately cancel all betting and Warren Buffet might as well just get out his check book and start writing and the NCAA would probably just cancel the game anyway because what a circus this would become…heck, I might as well just make my announcement when I get to the final 4. That would be a 100 million dollar pledge on a 1,000 million dollar win so…maybe I’ll just do it when I get to the elite 8? Then 200 gets me 1,000. How about the sweet 16?

In any event, 1 billion dollars is a lot of money and sooner or later I’m betting that the NCAA would just have to shut down the tournament and send the students back to class. (Did I just use NCAA, students and class all in the same sentence?) Anyway, 1 billion dollars may not be a lot of money to Yahoo, Quicken Loans, Warren Buffet or, sadly, even the NCAA… but to us regular folks and poor college athletes, I’m pretty sure it could buy a lot of good will and some creative play making in the final stages of the… “tournament”.

What do you think?

Are You a Welfare Queen?

13 Mar

Do you live in a community that has received federal aid as part of a recovery from a natural disaster like a hurricane, flood or tornado? Have you ever participated in a job training program? Have you, your spouse or child ever received an education grant, like a Pell Grant as part of a student college loan? Did your child ever attend a Head Start for pre-schoolers program?  Was money ever spent on your behalf to enforce child support orders? Did you partake in a program that helped to improve your teachers’ skills? Have you been involved in any screening programs to detect breast and cervical cancer in you community? Has anyone in your family ever attended a college or university that received federal money as part of a program to strengthen their management and fiscal operations? Did you work for Americorps- which trains and places teachers in low income communities? Or do you live in a community that has received federal assistance in upgrading their water and sewage systems? Maybe you take a child tax credit or earned income credit on your tax return. Does your elderly parent or perhaps you, if you are a senior citizen, receive housing assistance?

Well then, according to the Republican party members in Congress, operating conservative think tanks and Fox news, you’re on Welfare!

Because, When so called conservatives lump all of these programs together and call them welfare and then calculate how much money is being spent on these programs and then divide that number by only those folks who are living under the poverty line, they come up with a whopping total of $61,320 spent by the federal government on welfare recipients, which is 168 dollars per day which means that people on welfare are making 21 dollars an hour per day, everyday, even on Saturday and Sunday, to sit around and do nothing! That’s 11,000 dollars more than the average middle class family earns in America! Aren’t you outraged?????

And then when you consider that President Obama himself is writing these checks, and licking the envelopes and stamps and then mailing them out to all of these welfare recipients (all of whom he knows personally… because they used to go to school together) (or rather skipped school and smoked marijuana together) Then aren’t you doubly outraged!!!

It’s no wonder the good old USA is going to hell in a hand basket. You work hard every day and pay taxes and yet no good lazy bums are lounging around all day with 61,000 dollars and change in their pockets doing nothing. And they get free healthcare too! Don’t forget that! All in all, when you consider all of the extra perks, besides the welfare checks, these good for nothing poor folks are making upwards of $80,000 and using food stamps to buy lobster and fresh fish and organic foods!

Aren’t you mad? Didn’t you get the Email about this? Didn’t you hear the Congressmen and Senators rage on TV about this inequality? Didn’t you see every single Fox News program air this story over and over again? Didn’t you notice the pretty blonde lady who occupies the conservative pundit’s chair on every day time talk show practically break down in tears over how her country is falling apart because of these entitlement programs for the undeserving poor?

I know that I certainly am appalled! I just want to know why all of these poor welfare recipients continue to live in squalor and degradation in some of the saddest inner cities the world has ever known, when they are each making over $80,000 per year in cash and prizes?! For goodness sakes, four of them put together have over a 1/4 of a million dollars at their disposal! Why are so many of them homeless and refusing to live in decent and safe housing?

I just don’t get it. Why do the poor live like they don’t have any money when they apparently have all of it? Why haven’t they moved into my neighborhood…or yours? They could all afford a nice townhouse in the pretty blonde lady’s co-op couldn’t they…or live in the high rise next to that middle aged guy with the rolled up sleeves, suspenders and bow tie, who gets red in the face and practically faints from apoplexy each night while commenting on TV about how entitled these poor people are?

According to Republicans We spend 1 trillion dollars on the poor each year, more than we spend on Social Security, Medicare and National Defense…put together! And all of it spent just so that the President’s lazy friends can pretend they are poor, sit around all day, pay no taxes, eat lobster and smoke crack in a whore house!

And if you believe all that…Then I just may have another tax break for the rich, and a food stamp cut for the poor, that I can sell you!

Moral of the story?: Stay in school, don’t believe everything anyone tells you, fact check and learn how to do math. The result is that a lot of Americans are woefully misinformed about what we spend on anti-poverty programs, and what those programs look like. Traditional welfare, now known as Temporary Assistance for Needy Families, costs the federal government just $16.5 billion (out of a 3.6 Trillion dollar budget)In the real world we spend about $25 per day on the needy or about $753 per month for each lower income American (persons in the lowest income-third of the population) and NOT the $61,320++, per year that Republicans and conservative pundits claim.

It Makes the World Go Round

6 Feb

Recently there has been a spate of computer hacking at large retail stores, most notably,  Neiman-Marcus, Target and Michael’s, where customer credit card information has been stolen from each companies computer systems. This information has been sold to other criminals who in turn use the info to create bogus credit cards which are then used to purchase items on-line in the names of the stolen identities.

If you have ever had your identity stolen or have had fraudulent charges made to your credit card account then you know how upsetting and frustrating this can be…and you also probably know how little surprised and unfazed the credit card companies are by all of this thievery when you contact them.

There are two relatively easy fixes for this problem: One involves these large companies strengthening their computer systems security measures to make it more difficult for the hackers to place malware and other viruses into those systems which then allows the hackers to retrieve valuable data used to steal credit card and customer info. That of course would cost the retailers money.

The second fix involves creating a new type of credit card, one with a technologically superior computerized chip and stripe that requires your also using a 4 digit pass code when making purchases. This would replace the current stripe that is on the back of your card now and which represents a credit card technology that is already 40 years old.

So why not create a newer and safer credit card for all to use?

Because even though the new card would only cost credit card companies about $3 each to replace there are about 5 billion credit cards in circulation in the U.S. alone. And since credit card fraud amounts to about 5.5 billion dollars in fraudulent purchases it’s more cost effective for the CC companies to…you guessed it…do nothing.

So, until the thieves do more thieving it’s up to us to be more vigilant about how we use our cards. One thing to do is to select credit rather than debit when swiping your bank card at stores. And purchasing on-line is safer than in person (go figure) and of course cash…remember that?…is the best way to avoid identity fraud.

Of course then you might have to wait a bit at checkout while the cashiers do the math and count out your change, but having us all do a little bit more math is probably a good thing since nothing is going to get cheaper and thieves are way ahead of all of us when it comes to doing the math.

I’d also mention the old adage, “If you can’t afford it, don’t buy it”… but I can hear you laughing already…

Shocking Yet Still Awesome?

4 Oct

“Every man, woman and child in our country should be able to access the health care they need regardless of their income.”

Is this not a statement that you would agree with? Are we not the most powerful nation on the planet? We can and do wreak destruction wherever, whenever and on whomever we desire. If we can provide death and destruction to others, Why can’t we offer basic health to our own citizens?…not that I’m an advocate of death and destruction to others…but still, why not a national health care system that provides quality health care for all in the most cost-effective way possible for all of the citizens in this most shocking and awesome country?

Yet, there are still about 50 million people in our advanced and wealthy nation who lack health insurance and millions more who can hardly afford the healthcare plan they have now. In fact, about 45,000 Americans die every year because they can not get to a doctor when a doctor is just what they need… which ironically enough is just about the same amount who also die in automobile accidents and get killed by guns each year… but more importantly, when it comes to life expectancy, infant mortality and other important health outcomes, the United States is behind almost every other advanced country in the world.

However, and this is the truly amazing part and the absolute crux and heart of the matter, the U.S. spends almost twice as much per person on health care as any other nation! That is amazing! We spend approximately $2.7 trillion annually — on health care…and yet 50 million of our citizens don’t get any! So who gets the money? And why so much of it? And why wouldn’t they want 50 million more customers?!

At least The  Affordable Care Act is an improvement. It prevents insurance companies from denying patients coverage for pre-existing conditions, helps lower-income Americans afford health insurance and keeps our children on our existing policies when they can’t find jobs…and it will help those who don’t have insurance now, find some.

And what do the House Republicans who hate the Affordable Care Act offer as an alternative?

Absolutely nothing!

Status Quo!

Just the same old 2nd world healthcare for a first world nation!

And now they are holding the US Government hostage by shutting it down and putting more Americans out of work while denying new healthcare benefits for those who may have none.

And I wonder…

Are we bombing anyone tonight?

Why Can’t We Get Healthy for a Change?

28 Sep

There is a heroine epidemic in my town and in the county where I live in New Jersey.

More than 80 people have died from drug overdoses since the beginning of the year and many of those deaths have come as a result of heroine use.

Why heroine? Well, according to the story that I read it offers a bigger bang for the buck. In other words you can get higher with less heroine than with more of something else so in the long run (if you have a long run) you can save money. And saving money is as important in drug use it seems as it is important in other facets of our society.

Anyway,  the heroin “epidemic” has compelled lawmakers in my state to propose legislation that would attempt to curtail the local drug trade by basically…making the penalties for selling heroine…tougher. Which will of course mean that more drug dealers and users will probably be going to jail…and the problem will undoubtedly just shift to another drug that comes along to take its place.

More than likely there is a drug epidemic in your, town, county, state too, but probably just with a different drug. People like to take drugs, or just can’t seem to help themselves…and the money that can be made selling them makes the drug trade just too lucrative for them to be scared away from by the penalty of incarceration.

The combinations of desire, addiction, greed and avarice are so powerful and overwhelming among humans that I sometimes wonder why I have never succumbed to the forces of drug addiction or dealing. Is it because I am a superior human being? Or is it just because I was never poor enough or addicted enough to need to get involved with drugs?

Is it something I lack, rather than something I have?

I humbly ask this question only because nothing that we have done so far in the history of the drug war has worked as far as getting people to stop using or stop selling drugs to one another and yet rather than come up with new ideas or approaches to the problem we continue to try and fight “the war” in the same old way.

Is this just another side effect of drug addiction? There is a lot of money to be made in law enforcement and in the penal system and a lot of reputations to be built in politics and law making and the judicial system on the backs of America’s drug addicts and sellers. Would large portions of our economy crumble without an illicit and illegal drug trade?

And Despite tough anti-drug laws, and 2.2 million prisoners in our jails, a new survey by The World Health Organization shows that the U.S. has the highest level of illegal drug use in the world…And that drug use  is not simply related to drug policy, since countries with tough illegal drug policies did not have lower levels of use than countries with liberal ones,

So what gives? Why do we continue to pursue the same old policies when it comes to drugs and drug use in America? They don’t work. They have never worked. There is absolutely no reason to believe that they ever will.

Meanwhile, members of the United States Congress and many others are doing their best to block the administration of the Affordable Healthcare Act because they say…before even giving the new policy a chance to work…that it will fail and cost too much money.

With over 1 trillion dollars spent on the war on drugs in the last 40 years and with state and federal agencies continuing to spend over 30 billion dollars per year on what has proven time and time again to be a failed policy…is it really any wonder why we can’t find any money to pay for healthcare in this country and why certain groups want to make sure that we never do?

Simply put, and just by examining the data, the answer is an easy one.

We’re getting sicker, rather than healthier in America, because right now… that is our policy!

Walton$ Mountain

14 May

Today on the internet I saw a list posted by Forbes Magazine of the 5 richest women in the United States. The top 2 were Christy Walton and Alice Walton of the Walton family and Wal-Mart fame. Christy’s brother-in laws (Alice’s brothers) Jim and S. Robson, are also quite wealthy and together they are numbers 6,7,8 and 9 on the top 10 list of the richest people in America. All together they have over 107 billion dollars between them.

Isn’t it amazing that a company whose employees are mostly poor and whose shoppers are mostly poor creates enough wealth to produce 4 of the 10 richest people in America?

In fact Wal-Mart CEO Michael Duke’s (not a member of the family…too poor) earns about $20 million a year, or about 9,615 dollars an hour. Which when you think about it is only about 9,606 dollars more per hour than your average Wal-Mart employee who makes around $8.75 an hour and who would gross about $13,650 a year. So Mr. Duke earns about as much as 1,465 of his employees put together.

On the other hand, the 4 richest Walton’s earn more than 7.8 million of their employees put together…but that’s OK because Wal-Mart only employs about 1.5 million Americans…so there is still plenty of Wal-Mart work to be done. Yet just to be fair, that is a lot of employees and Wal-Mart does pay its taxes…but still…

There are many ways to make one’s fortune in this world, and building one on the backs of the poor is still the best way to make the biggest ones possible. And why is that? Because…

On an interesting and ironic side note, if you Google “The Waltons” you’ll see a list featuring the story of John-Boy and all of his favorite relatives who live with him in Walton’s Mountain, a fictitious television town in rural Virginia. If you watched this show then you learned about how a very large and extended family could  live happily together during the great depression in the United States even though they were poor and didn’t have much money… and yet they had a town and a mountain named after them….go figure.

But of course in America art imitates life almost every day…on television.

To the Mattresses

9 Apr

This is basically a re-post of something I wrote a few months ago about savings and banks and sending your children to college but since then it appears that our federal government is up to their old shenanigans again and soon there might be no safe place for your money to reside except…you guessed it… So let’s review:

First of all a word to parents: Parents, I highly recommend college for your children. A college education is a great way to boost your child’s future earning potential but, how can we parents possibly save for it and then pay for it without saddling ourselves and our children with more and more debt?

Well, a few years ago I would have said, buy United States Savings Bonds! Money that I put into U.S. Bonds when my children were little doubled and even tripled by the time they reached college age. But in 2006 Congress voted to reduce the interest rate on bonds from 6 percent annually to .04 percent. That is unbelievably a 93 percent reduction in interest on U.S. Savings bonds and 93 percent is like…well…everything! So thanks U.S. government and forget bonds.

I’d say put your money in a savings account but remember that for every 10 thousand dollars you save this year, next year you’ll have 10 thousand dollars and about… 3 gallons of gas, because unless you haven’t been paying attention banks no longer give interest to you even as a thank you not to mention fair payment for using your money to make money for themselves… So, forget savings accounts.

How about a nice mutual fund or stock portfolio? Well, mutual fund agents used to guarantee 8 to 12 percent average interest over the life of your fund but of course that was a “market based” guarantee which was not actually a guarantee of any kind as they’d always remind you when you were signing up for the fund. And when they say no guaranteed interest boy they sure don’t kid around! No guarantee. No interest, period. The stock market (just like you suspected) really is for people with 14 billion dollars, who really don’t need all that money and who really do have 100 years to not care whether it’s here today, gone tomorrow and back again. So forget the stock market. It’s become tantamount to gambling so you think you will make lots of easy money there but just like at the casino, you won’t make any money there at all.

What about 401ks? Stock Market again! See above. Plus you get a 10 percent penalty and taxed another 20 percent if you use it before you are 59 and ½. Hopefully your kids are gone by then because you’re going to need that money. Trust me! (And what’s the ½ for? Just to screw with us?)

And now the following bill is being proposed in Congress and recent reports say that it has a 79% chance of passing. It’s called H.R. 992: Swaps Regulatory Improvement Act and as you probably can guess it will not be an improvement of any kind to anything. What it will do as I understand it, is weaken the already weak Dodd-Frank Act that is supposed to protect us from another big bank money grab and public bailout like the one we had in 2008.

Instead this amendment to Dodd-Frank will make it easier for banks to speculate with depositors money again and allow for a future where the FDIC will no longer need to guarantee depositor funds; it can just confiscate them  to recapitalize the banks should they go south once again. This would mean that your money in your bank could be used to bailout your bank’s theft of your money. So the bank of the not too distant future, for all intents and purposes can rob you!…legally!

So, how do we save for college and our children’s future or save for anything if this is what we have to look forward to? The mattress! Yep, you heard me! Every dollar in gets you 1 dollar out plus when you consider adding all of the spare change that falls out of your pocket and lands under the bed your mattress has a higher average annual yield then most government securities! So parents of America, To the Mattresses I say! To the Mattresses!

That’s How We Do: Juxta-Posers

15 Mar

Today I took a drive to the Philadelphia airport and on the drive home, thanks to major construction and the worn out, pot-holed, crumbly highway, I was forced to a crawl just as I passed the relatively new South Philadelphia Stadium Complex. Where the Philadelphia Phillies, Eagles and Flyers play.

I couldn’t help but notice how shiny and new and spectacular the stadiums looked…however I also couldn’t help but notice that the names on the stadiums were Citizens Bank Park Stadium, Lincoln Financial Field and The Wells Fargo Center. And I also couldn’t help but notice that the surrounding neighborhoods were about as shiny and new and spectacular as the interstate highway  that I was traveling on.

And that got me to wondering…Why do we almost always put sports stadiums in the worst parts of big cities where then millions of people have to travel from the suburbs to spend millions of dollars to watch millionaires play? Probably you’ll say it’s so we can get all of that money that is being spent back into the cities…but that’s just not the case

Most if not all of these stadiums are financed by the crumbling cities themselves rather than by the wealthy teams and owners and financial institutions that have their names on them. And even though banks like Wells Fargo and  Citizens bank and Lincoln Financial pay millions for the naming rights, when you consider the recent trillions of dollars spent by the federal government in bailing out these banks then just about all of the money spent on these ballparks comes from…the citizens…not banks.

 That’s just plain crazy.

Many politicians and proponents of these publicly financed stadiums argue that new stadiums bring new jobs and economic expansion but when new sport stadiums are financed with public money, all research has shown that the population is actually worse off economically than before the stadium. 

In fact arenas and stadiums rarely live up to the promises teams, owners, and city politicians use to justify their construction. Cities are often left holding unsustainable amounts of debt because the economic development that is promised never shows up, and as a result, other services that provide more benefit to taxpayers like new roads and bridges and jobs and boring things like that are slashed to pay the bills.

Which when you think about it is insane.

Almost 40 years ago my home state of New Jersey borrowed $302 million to  construct  the Meadowlands and was supposed  to pay off the bonds in 25 years. Today because of refinancing, and redirecting funds for other stadiums the authority that runs the Meadowlands owes $830 million…on a stadium that was just torn down.  

That’s nuts!

Did you know that according to a new study from Harvard: when public-private partnerships are used to build such stadiums, taxpayers finance more than three-quarters of the investment, with teams and owners picking up just 22 percent of the tab…And every NFL franchise is today worth over 1 billion dollars!

It’s so ridiculous that it’s unbelievable!

And while our cities and infrastructures are crumbling around us we are cheering ourselves up by yelling, screaming and cavorting in the midst of abject poverty on urban oases as green as the piles of cash we spend there, named after banks that wouldn’t lend us a dollar under the very same deals and interest rates that they broker to build these coliseums.

Shouldn’t we  really be building these monuments to fame and fortune in the places where they belong like Beverly Hills, Wall Street and Fort Knox?

 It’s so ridiculous that it defies explanation…

But after all…that’s just how we do…isn’t it?

 

 

 

 

 

 

If It Ain’t Broke…Break It!

7 Mar

 

It’s been almost 5 years but the stock market has finally made it all the way back to where it was when the great financial crash began way back in 2008! Yes, the Dow Jones Industrial Average has finally made it all the way back from its lowest low of 6,547.05, more than doubling to over 14,000!

But for some reason the American people haven’t made it back nearly as far since then. In fact they haven’t even begun the return journey yet! What gives? The stock market’s resurgence is obviously great news for finance but someone forgot to tell people!

We’ve gone from 31 million to 47 million citizens on food stamps since the stock market crash. That’s 15% of our population now using food stamps!

11.1 million people were out of work back in 2008. Now we have 14.8 million people looking for work…but the stock market is all better?

Less food, no work, but more money? For who?

And the news gets better…

 according to Citigroup economist Steven C. Wieting, there are more than 3 million Americans still without work who lost their jobs following the financial crisis.

And…

The National Employment Law Project found that 58 percent of all jobs created over the past two years paid $13.83 an hour or less while just 22 percent were in the “mid-wage” class of $13.84 to $21.13 an hour, even though that group lost 60 percent of the jobs during the recession.

So mid-wage jobs are being replaced with low wage jobs and we’re still 3 million jobs short.

But the financial market is feeling just fine!

I think we can finally close the book on Supply Side, Trickle Down, Reaganomics.

Cut taxes on the wealthy, bailout the richest banks when they fail and what you get in return is not greater largess from a thankful and benevolent upper class. What you get is wealthier wealthy people, banks with lots of money and hungrier poor people, and fewer and crappier jobs.

The verdict is in:

Wall Street loves America and democracy…It’s just the people they can’t stand!

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