The Chicken or the Egg; or is it just chickens coming home to roost?

According to the Wall Street Journal, Some of the world’s top hedge-fund managers are worried.

They say central bank bond buying programmes that are pumping trillions of dollars into global markets will end badly. The European Central Bank said on Thursday it would extend its asset purchase programme to the end of next year, buying bonds at a reduced rate. But prominent managers have expressed doubts about the endgame for QE.

Oh really. Say what you mean, for the love of glory. “Expressing doubt about the endgame for QE,” is more correctly phrased as, “I don’t know how much longer we can print money and pour it into buying our own governments’ bonds without having devastating inflation. Because, after all, that’s how we got to a blow-out global economic crash in 2008. Thank you for giving us another chance to steal everyone blind before we take our money and run again.”

Posted in Bailouts and Tax Cuts, Evil Capitalism101, Fascism, Free Market Paradigm | Comments Off on The Chicken or the Egg; or is it just chickens coming home to roost?

Richard G. Strauch: Aging in place (The Democratic leadership)

Wherein Mr. Strauch reminds us that the Democratic leadership in the House of Representatives are in their mid-to-late 70s. Aging in Place, very clever.

I always thought well of Barbara Boxer. She spoke at a gathering of progressive lawyers and law students, a three-day weekend called the Grillo Retreat. I felt like she was in my corner, an inspired politician.

I found out how wrong I was when I saw the same Barbara Boxer flip off Nevada delegates who supported Bernie when they protested the breach of procedure that silenced them. Boxer performed not just a flip-off, but a double two-handed flip off with a squat. They stole our voices, then pretended nothing had happened. They think we didn’t notice. But we saw what they did. The press was paid to look away but even so the word got out.

Funny, just a few moments ago I saw a picture of Nancy Pelosi. I swear she has had cheek implants. People were starting to say she looked too old to be on the Hill.

Boxer retires at the end of this term. Maybe she had been wanting to flip us off for quite a while.

We don’t need the fossilized thinking of the corporate Democratic or Republican Parties. Neither one of them are worth a damn. Dianne Feinstein, our other Senator, is in her mid 80s; a serious millionaire, among the top 5 wealthiest Senators. Time for them to go!

It’s not like they are running an exclusive club. Wait! They are. And your vote does not count. Not at all. They can make the election look any way they want now and expect us to quietly come along.

Posted in 14 signs of fascism, Another Fake Election, Classism Racism Sexism, Corporate Crimes, Decline and Fall, Democrats: The Good, the Bad, and the Ugly, Everything We Know is Total BS, Evil Capitalism101, Fascist America, Howard Richards | Comments Off on Richard G. Strauch: Aging in place (The Democratic leadership)

Stop Trump: This is our only chance…with the Electoral College

Your State electors have choice! Don’t let anyone tell you differently. If they won’t listen to you via phone and letter, go to your Representative’s or Senator’s office and stand up or sit in.

Once he is sworn in, he will have to be impeached in the House of Representatives, and tried and convicted in the Senate  for us to stop him. With our Republicans not as ethical as in the days of Watergate, we will be stuck with all the horrors his administration will create.

He is now threatening Hillary with criminal charges if she continues to participate in the vote count in three states. What more do you want, Trump voters? Blackmailing the losing candidate? Is this enough?

The Electoral College can stop this nightmare before more damage is done.

Trump: Living Justification for the Electoral College
Trump: Living Justification for the Electoral College
(Memegenerator)

Here’s a list of a few of the offenses he has committed against American civilization already.

*Invited America-hating, murderous Philippines President Duterte to visit him in the White House. 2 Why this is important: The Fourteenth Amendment guarantees citizens Due Process. This means that if you are charged with a crime, you have the right to defend yourself under the Constitution. The government cannot just go around making up the rules as they go along. Which means they can’t go around murdering “drug dealers” with impunity.
*Appointed a general as Secretary of Defense who says, “I like shooting people,” and who presides over mass murder.

* Appointed as Secretary of State a man who thinks that birth control should be made illegal.
Why this is important: 1) Families like to control the number of children they have; and 2) We don’t want our teenagers having babies while they are still children themselves.

*Does not care how much terrible trouble he and his family cause for our largest city, New York City, by requiring that he lives in his penthouse.
Why this is important: 1) The City will end up paying for all the costs of each of Trump’s trips home; and 2) How many other expenses will DT cause the taxpayers to assume?

*Do you want to look at that stupid face for another 4 years?
Why this is important: He was triggering PTSD nightmares that were so bad I fell out of bed trying to escape and bruised myself badly. And generally, EWWWWWWWWW to seeing a sexual predator on TV and all over the Internet every day.

*I will add to this page as time permits.

 

  1. http://theweek.com/speedreads/664367/trump-allies-are-now-threatening-hillary-clinton-prosecution-over-recount. “On Monday, Trump adviser and confidante Roger Stone said on The Steve Malzberg Show that by participating in the recount, “Hillary, I think, increases her chances of prosecution by acting this way.” He alleged, without offering any proof, that Clinton or George Soros must be secretly financing Stein’s recount. Trump, during the presidential campaign, had repeatedly said he would appoint a special prosecutor to investigate Clinton’s alleged “crimes,” but has suggested since the election that he is not interested in hurting the Clintons.” “Bill Schuette, the attorney general of Michigan, said that the recount, initiated by Jill Stein, the Green Party candidate, put Michigan voters at risk of “paying millions and potentially losing their voice in the Electoral College in the process.”  “This court cannot allow a dilatory and frivolous request for a recount by an aggrieved party to silence all Michigan votes for president,” Mr. Schuette, a Republican, said in a court filing.”
  2. http://theweek.com/speedreads/665166/donald-trump-reportedly-just-invited-philippines-americahating-president-white-house. President-elect Donald Trump has reportedly invited Philippine President Rodrigo Duterte — the man who told President Obama to “go to hell” and threatened to “break up” with America — for a meeting at the White House next year,
Posted in 14 signs of fascism, 1percent, Authoritarianism, Cities and Urban Planning, Civil Rights and Liberties, Classism Racism Sexism, Corporate Crimes, Corporate-Congressional Complex, Fascism, Frankly Political, Government is Not a Business, Let's Talk About: The Man, Patriarchy, right-wing violence | Comments Off on Stop Trump: This is our only chance…with the Electoral College

The Democrats lose because they are paid to lose

Nov. 16, 2016

I just found this in my Drafts folder; written on the night of November 8, 2016.

It is three hours since the east coast polls closed. We do not have a landslide for anyone. We have a real chance of having Trump as President.

NYT says 95% chance Donald Trump is President

Democrats went low. That was wrong.

People don’t like fakeness* When you put up a real conservative against a fake conservative the voter chooses the real conservative any time.

I hope all those Goldman Sachs checks were worth it.**

Trump is ahead in Michigan and Wisconsin. That is another world from the political landscape even in 2008.

*Cenk Uygur, The Young Turks. November 8, 2016 8:05PM PST.
**Jimmy Dore, id.

CreativeCommons BY CC License Olivia LaRosa 2016

Posted in 14 signs of fascism, 1percent, Another Fake Election, Black Swan, Democrats: The Good, the Bad, and the Ugly | Comments Off on The Democrats lose because they are paid to lose

Electoral College, time to do your job!

Our teachers told us that the Electoral College was an institution mandated to protect us from tyranny. Time for you Electors to Step Up! Many states have laws that do not hold their electors to the electoral college vote. Sign here now, or see a link at the bottom of the page.

The Founding Father’s design has faltered and no one seems to be paying attention. The Powers that Be tell us that Trump’s election is a done deal. Not so fast, PTB!

There’s a lot of political theatre out there telling us that Republicans and Democrats are equally divided. That’s just not true. Look at the results of many important initiatives and bills that we voted on that fateful Nov. 8 day. minimum wage increases, cannabis legalization, and a host of others.

The House of Representatives, elected by equal numbers of population, is tilted towards the right because of gerrymandering. The Senate? Pshaw. Even when a party has a majority in the Senate, Senators made up the 60 vote rule. This means that 41 Senators can block ANYTHING the American people want. THIS is why we have gridlock. Our ruling institutions have rendered themselves ineffective. The Supreme Court is nothing more than a political rubber stamp for the Right, now that Mitch McConnell betrayed us by not permitting a vote on a standard conservative judge, Merrick Garland. The truth is that EVERYTHING is tilted towards the right except the American people, even many who voted for Trump. I hear you, brothers and sisters, but the party’s over. The Orange One is no messiah.

Now, our political fate is tied to a carnival barker whose random acts resulted in an alleged vote for the President.

Now, Electors, do your job and protect us from the tsunami of hate headed our way. A safety pin won’t protect anyone.

Here’s an article from Foxnews.com about work underway right now to get the Electors to stop this runaway Trump nightmare.

Please go here and sign the petition at change.org. The world will thank you for your work.

Electoral College, time to do your job!

Posted in 14 signs of fascism, 1percent, Elections, Elephants in the Room | Comments Off on Electoral College, time to do your job!

Elephants in the Room: The Continuing Failure of Self-Regulation

In case people were wondering how all those bad brokers are making a living nowadays, wonder no more. According to the Wall Street Journal, “[f]ormer brokers who were [b]arred from working at brokerage house now have begun new careers as investment advisors.”[1]

How could such a thing happen? Well, it’s easy when an industry regulates itself. These former brokers are being legally moved into this position because Financial Industry Regulatory Authority (FINRA) found it politically feasible to give these crooks another shot at our wallets.[2]

This is a classic example of a “captive” regulatory body. In this case, one can assume that what FINRA is really regulating is who among the bad actors is being released into the wild again.

This is part of the brew, a part of the mix, that will cause our next financial meltdown. First, we fail to prosecute criminal acts by fiduciaries. Second, we only fine them for the most egregious abuses, if we get around to it. Third, we allow the bad actors to get their hands back into the client cookie jar.

This was a mistake. Cons like Keating can’t stop cheating. [3]

I am challenged to figure out how I can represent myself to the public as someone who is NOT certified by FINRA.
###

[1] See generally Michael Wursthorn. Wealth Advisor Daily Briefing: Barred Brokers, Wall Street’s Election Slog. The Wall Street Journal. Nov. 4, 2016. http://blogs.wsj.com/moneybeat/2016/11/04/wealth-adviser-daily-briefing-barred-brokers-wall-streets-election-slog/ Accessed Nov. 4, 2016.
[2] Id.
[3] Referring to Charles Keating, the serial financial criminal. His manipulation of Lincoln Savings and Loan provided a model for hundreds of other crooks, leading to the collapse of the Savings and Loan industry in the 1980s. See generally The Lincoln Savings and Loan investigation: Who is Involved?. The New York Times. Nov. 22, 1989. http://www.nytimes.com/1989/11/22/business/the-lincoln-savings-and-loan-investigation-who-is-involved.html. Accessed 11-6-2016

Deborah Lagutaris writes. Her nom de plume is Olivia X. LaRosa. Ms. LaRosa holds a B.A. cum laude from UC Santa Barbara in an interdisciplinary major, Law and Society. She went on to earn her law degree from UC Hastings in 2004. She was the oldest person in her class. In November 2016 she submitted her thesis and completed all of her coursework in an advanced law master’s program (LL.M.) with an “International Taxation and Wealth Management” concentration.

Posted in Elephants in the Room, Evil Capitalism101 | Comments Off on Elephants in the Room: The Continuing Failure of Self-Regulation

California 2016 Election Proposition Analysis

Just a note before we begin this review. Governments have to fund projects with bonds. Why? 1) Because private investors are not going to want to tie up their money in resources that have no direct measurable value to them. In contrast, bonds issued by government entities are viewed as stable investment vehicles for long-term investors who are seeking security rather than risk. The already-wealthy seek income stability rather than instruments that have a big up-or-down spread. 2) When California passed Proposition 13, we lost our main method of funding school construction and other infrastructure projects. Our tax base used to be real estate taxes, which are stable from year to year, and replaced it with sales tax, which fluctuates wildly.

We will come back to this theme. For now, keep in mind that governments and businesses have completely different aims. Therefore, the rules of business management for short term profits have no relation to the operations of government, which are fixed on long-term improvement in public infrastructure. Links here are mostly from KQED public television guide.

THE LAST DAY TO REGISTER TO VOTE IN CALIFORNIA IS OCT. 24

Prop 51 N_O
This Prop seeks approval for a bond issue of $9 Billion to build new schools and update old schools. This is usually a feel-good no-brainer YES vote. Here, the building industry and the realtors are the money behind the project. Gov. Brown and others knowledgeable in funding public projects say vote NO on Prop. 51.

Prop 52 Y_E_S

The federal government matches state spending on health care for the poor, so the more California puts up for Medi-Cal, the more federal dollars it receives. The hospital fee boosts the state’s fund for Medi-Cal and thus attracts more federal money. Those dollars are then paid back to the hospitals to reimburse them for caring for their Medi-Cal patients.

Californians pay much more to the federal government than they get back. Let’s get some of that money back here to help those who need medical care. Vote YES on Prop 52.

Prop 53 N-O

Proposition 53 would require voter approval whenever the state wants to pay for a public works project using more than $2 billion in revenue bonds.

This prop is funded by two rich people who think that our government is their toy. They don’t want any rules that stop them from stiffing their neighbors but they want to lay more on us. Vote NO on Prop. 63.

Prop 54 N-0
Here’s another rich person who thinks that American politics are some kind of wagering game. Charles Munger put up $10,000,000 and no one else put up much in support. I think there should be more transparency in lawmaking but hard-and-fast rules like this may not be the answer. Vote NO on 54.

Prop 55 Y-E-S

Proposition 55 would require the wealthiest Californians to keep paying higher income taxes through 2030. Under Brown’s earlier measure, those taxes would expire after 2018. The tax levy starts at 1 percent for individuals making $250,000 annually, increasing to 3 percent for individuals making above $500,000. If Proposition 55 passes, finance officials estimate it will raise $4 billion to $9 billion a year, depending on the economy.

The already-rich are there because we paid for the infrastructure that made them rich. They can cut back on the size of their super-yacht and give back to society. Vote YES on 55.

My analysis on the rest tomorrow. For now, here’s my recommendations. See Prop 61 at bottom.

Prop 56 N-O

Prop 57 Y-E-S

Prop 58 Y-E-S

Everyone is for this. No one funded the NO side. YES on Prop 58.

Prop 59 Y-E-S
Everyone wants to overturn the Supreme Court case “Citizens United” because corporations shouldn’t buy our government. Vote YES on 59.

Prop 60 Y-E-S

Don’t never do it without your Fez on. Vote YES on 60.

Prop 61Y-E-S
Bernie Sanders is campaigning for Proposition 61 here in California. Drug companies have put nearly $100 Million into defeating this Prop. Essentially, the Prop mandates that prescription prices for California public health providers should be no higher than what VA pays. YES on Prop 61.

We Oaklanders are sick of big sugar trying to tell us what to do. Vote YES on HH.

-30-
Deborah Lagutaris, aka Olivia LaRosa, was employed in banking and real estate for 30 years. She then went back to college to finish a BA and went straight to UC Hastings College of Law. She was the oldest in her class at 50. Since then she has drafted legislation, served as a law clerk for an attorney who practiced disability law, and worked as a law office manager for an in-house law firm. Ms. Lagutaris has submitted her LL.M. Thesis on International Banking and Wealth Management LL.M. She presently has a tax practice and is the co-director of the IHSS Project.

Posted in 99%, Cities and Urban Planning, Civil Society, Community Service, Cultural Economics, Elections | Comments Off on California 2016 Election Proposition Analysis

Woodford: The future of long-term investing does not look bright; Investors Face Short-Termist Pressures

Neil Woodford, one of the UK’s best-known fund managers, has said that the future of “long-term investing” does not look bright in an industry where fund managers are under pressure to deliver short-term outperformance.

Woodford, who has raised £14.8 billion in assets since he set up his own firm, Woodford Investment Management, in 2014, wrote in an article for Financial News in its Future of Finance supplement hat there’s been little change since Professor John Kay’s review of UK equity markets and long-term decision making.

The Kay review, which was published in 2012, made several recommendations after concluding that the UK stock market wasn’t fulfilling its socially useful function.

But Woodford said the report has “sat gathering dust for four years and not a lot has changed.”

“The future of long-term investing does not look bright in an industry that is increasingly dominated by the twin forces of valuation-insensitive investment activity and the pressure on fund managers to deliver outperformance over every conceivable time horizon, no matter how short.”

He said “genuine long-term investors” appear to be an endangered species, partly because short-term strategies “are driven, in large part, by an obsession with price not value, with asset type or sector, rather than by the analysis of the fundamentals of a business, and by vanishingly short holding periods.”

“For me, investing has always been about a long-term focus on value, an endeavour that aims to exploit the valuation anomalies that will always exist in financial markets. It isn’t easy because it involves doing something different to the crowd, having the courage to back your convictions, the humility to constantly doubt them, and the persistence to test the “what if I’m wrong?” hypothesis every single day.”

He added that short-termism is all too apparent in other walks of life, “from the woefully brief average tenure of corporate executives to a political cycle that is way too short to allow for policies that deliver the real long-term needs of the economy.”

Read Neil Woodford’s full article in Financial News.

city@wsj.com

Go to Original Summary

Posted in Economics 101, Evil Capitalism101, Free Market Paradigm | Comments Off on Woodford: The future of long-term investing does not look bright; Investors Face Short-Termist Pressures

New events on the People’s History of Stock Market Crashes timeline

September 20, 2016
“Microsoft plans to buy back up to $40 billion in stock and boost its quarterly payout to 39 cents.” This is what our corporations do with their money. This is definitely not “creating jobs.” This is not “free market” action. They just have too much money laying around and this is an easy way to get rid of it.

September 2016

Wells Fargo terminated more than 5,000 employees who perhaps cheated on the contest the bank was holding because it meant they wouldn’t lose their jobs. They lost their jobs anyway, and Wells Fargo was hoping no one would notice. Well, the 5,000 people who lost their jobs noticed.

“Where are the grownups who are supposed to be running our financial institutions?” ~ Deborah Lagutaris

Posted in A Peoples' History of Stock Market Crashes | Comments Off on New events on the People’s History of Stock Market Crashes timeline

Why are we heading back into global war? We can’t afford it. People are sick of it.

by Olivia LaRosa

Submitted to The New York Times, from San Francisco

Nearing the end of my life, I find myself appalled that someone like Donald Trump has a 50/50 chance of being the President of the United States. As a child of the 1950s, I dutifully ducked and covered while doing my best to expand my community horizons to those who did not live in my neighborhood and did not look like me. They said that we were on the path to putting human rights above corporate rights, and I supported them. We had Black, Latino, and Jewish kids in my 2nd grade class. They were just like me. None of them were like Trump and his ilk, I find it amazing that the world has forgotten the lessons we so expensively and painfully learned during WWII and its aftermath. Now, war circles the globe. Peace is inadequately funded. Let’s change that part, at least, OK?

Posted in 99%, Fascism, Government is Not a Business, Ubuntu, United Nations | Comments Off on Why are we heading back into global war? We can’t afford it. People are sick of it.