Bloomberg reports that JP Morgan and other banks are among the top donors to Obama's campaign. Obama has sold out to the bankers. For me Obama's most egregious act was throwing Elizabeth Warren under the bus. Jamie Dimon of JP Morgan led the campaign against her, and now he is paying Obama for dumping her. It's good for Morgan, good for Obama, bad for America, and bad for the middle class. Jamie Dimon has said that his bank does not want to do business with anyone who has less than $100,000 in his account. Obama has sold out the majority of his supporters for Wall Street money, figuring that the middle class has nowhere else to go. Right now the only thing that would get me to vote for Obama is for the Republicans to nominate Rick Santorum. America is becoming the Roman Empire. Nero start fiddling! Caligula start partying! Let's run a budget deficit of $5 trillion; who cares? America ranks 34th in infant mortality according to Wikipedia. The Republicans are against birth control and abortion because they love to kill babies after they are born. This is NOT a great country.
Bloomberg has recently posted a story about how many payday lenders are supporting Romney, because he has pledged to overturn Dodd-Frank, which under the leadership of Elizabeth Warren, cracked down on payday lenders and other unscrupulous loan businesses through the Consumer Financial Protection Bureau, which Warren created.
It's interesting that the big banks, like JP Morgan, have responded to the new regulations by supporting Obama for getting rid of Warren, while the little guys, like the payday lenders, have responded by supporting Romney, hoping to get rid of the regulation entirely.
Wednesday, March 21, 2012
Wednesday, February 29, 2012
Sad That Sen. Snowe Is Leaving
It's sad that Sen. Olympia Snowe is leaving the Senate. She has been a moderate, responsible voice there. It's worse that she cited the worsening political stalemate as a reason for her leaving. It's a sign of America's decline as a great nation. She's leaving uneducated, hateful, unwashed rabble behind in the Senate, which once used to call itself the world's greatest deliberative body. Now it's a cesspool. Poor America!
Monday, February 27, 2012
Obama Tax Cuts
Obama's proposal to cut the corporate income tax rate to 28% is just another present for the richest 1%. It will help more than the 1%, but most of the beneficiaries will be relatively rich, and will probably benefit more than the regular people will from their payroll tax cut. It's arguable that that the corporate rate cut will provide needed stimulus, but the rich are already pretty well stimulated.
One reason interest rates are so low is that rich have plenty of money are are not investing. Thus relatively few people are borrowing to start businesses, etc. The current wisdom is that banks are not lending, but mainly that means not lending to regular people. The rich can get loans; they just don't need or want them.
Obama's going to help them out anyway, because they will give him money if he does. Of course, they will end up making a lot more money than they contribute to his campaign, but he'll get his cut.
One reason interest rates are so low is that rich have plenty of money are are not investing. Thus relatively few people are borrowing to start businesses, etc. The current wisdom is that banks are not lending, but mainly that means not lending to regular people. The rich can get loans; they just don't need or want them.
Obama's going to help them out anyway, because they will give him money if he does. Of course, they will end up making a lot more money than they contribute to his campaign, but he'll get his cut.
Monday, February 13, 2012
Syria Is Another Religious War
The article in today's New York Times and Tom Friedman's column of several days ago make it clear that Syria is yet another religious war between the Sunni and Shiite Muslim sects. Syrian President Assad's Alawite sect is Shiite, a minority in Syria; most of the protesters are Sunni, who are the (oppressed) majority. So the Shiite Iranians are going to help Assad, and the neighboring Sunnis are going to help the protesting rebels. The NYT says that the Iraqi Sunnis, who used to rule Iraq, until they were overthrown by the US invasion, now support their rebelling colleagues in Syria.
In the Iraq war, the US overthrew the Sunni government and set up a Shiite government that is best friends with Iran. Now, the Republicans, who defeated Iran's worst enemy, Saddam Hussein, want to send in American troops to die overthrowing the Iranian government that was strengthened by the US invasion of Iraq. I guess the important thing is that the American government wants to foment sectarian warfare in the Middle East. It may well be coming next in Egypt.
In the Iraq war, the US overthrew the Sunni government and set up a Shiite government that is best friends with Iran. Now, the Republicans, who defeated Iran's worst enemy, Saddam Hussein, want to send in American troops to die overthrowing the Iranian government that was strengthened by the US invasion of Iraq. I guess the important thing is that the American government wants to foment sectarian warfare in the Middle East. It may well be coming next in Egypt.
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