Tag Archives: capitalism

Yet another bit of logic we must ignore if we want to stay F-R-E-E-E

This thing is kind of like health care. In spite of abundant evidence that Glass-Steagall worked (no bank failures for 50 years – approximately  ’33 to ’83), those enjoying the fruits of today’s perverse versions of capitalism and finance, who are dedicated to making money with money (making things is so yesterday), will not tolerate anything resembling a reinstatement of that law. And they will win.

Here’s a People’s Warrior on CNBC facing the conventional opposition, laced with a bit of hostile mockery. This video was viral a few days ago, until it briefly disappeared because CNBC filed a copyright claim against, I believe, the Senator. Ahem?

That is what brought this video to the attention of the fine folks at Upworthy. They note that “It gets amazing at 2:08. At 3:42, she uses their words against them. And at 4:39 [it really rocks].”

Listen to her ‘splain it all – clearly, simply and confidently.

Capitalism has three legs: resources, capital and labor. It needs all three.

Bill Mahar explains the difference between a Model-T and bags of money

Perfect.

Lech Walesa: one of my heroes

Leading his 'mob'

The union organizer who led the movement that overthrew Soviet communism in his native Poland 30 years ago, whose actions signaled the beginning of the end of the Soviet Union, is coming to New York to support Occupy Wall Street.

. . . to show his support for the  Occupy Wall Street protesters.

“How could I not respond,” Walesa told a  Polish newspaper Wednesday. “The thousands of people gathered near Wall Street  are worried about the fate of their future, the fate of their country. This is  something I understand.”

. . . Walesa said “capitalism is in  crisis” and not just in America.

“This is a worldwide problem,” he told  the Lublin-based Dziennik Wschodni newspaper. “The Wall Street protesters have  focused a magnifying glass on the problem.”

. . . A staunch anti-communist and former Polish president who helped steer his  country to a free market economy, Walesa . . .  has warned of a “worldwide  revolt against capitalism” if the Wall St. protests are ignored.

They are  protesting the “unfairness” of an economy that enriches a few and “throws the  people to the curb,” he said in a recent interview.

Capitalism is a stool with three legs

Capital. Resources. Labor. Remove any one of those, and you do not have an economy. 

“If any man tells you he loves America, yet hates labor, he is a liar.”

–  Abraham Lincoln

h/t The Back Channel Blog

The requisite Super Bowl post

and still good designers can't find work. Go figure.

Actually, I don’t do Super Bowl posts. I don’t even do football posts. But thanks to Political Irony and Bill Maher’s New Rules, I have learned there’s an angle of interest to me, an entirely new angle on this ‘ball game’ business. I learned the freaky scary truth about the NFL . They’re commies! Run-for-the-frackin’-hills!

A week ago, I posted about a New Rules bit in which Maher compared baseball and football in terms of popularity and earnings. He pointed out that football – the clear winner  – is run on a ‘take from the rich, give to the poor’ model.  The NFL, he said “put all of it [television revenue] in a big commie pot and split it 32 ways [among the teams].

We learn more from Political Irony: Take the Green Bay Packers who have won more NFL championships than any other team. How do they do this? Do they pay their players more? No! In fact, they have the lowest median salary in the NFL. Do they represent a big city? No! Green Bay (population 100,000) is the smallest city to have a major league football team. Their games always fill their stadium (which can hold 70% of the entire city population) and they have a waiting list for season tickets that could more than fill another stadium just as large.

So how do they do it? Most people don’t realize this, but the Green Bay Packers are a non-profit community-owned organization. You can buy stock in them, but it does not pay dividends, and it never increases in value. It is a worthless investment, and yet they have 112,000 shareholders (more than the population of Green Bay).

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