Republicans: Good for the Economy?!
You know, for some time, I have been hearing the mantra "Republicans are Good for the Economy."
In my memory, under the Nixon, Ford, Reagan-Bush, and now Bush II, we have suffered: (1) business closures, (2) some form of inflation with either (2a) rising durable goods prices or (2b) rising energy costs leading to (3) job layoffs with subsequent (4) reduced taxes as "business incentive" leading to (5) reduced compensation to the self-supporting who lost their jobs and, finally (6) increases in standard of living at the very top 0.01 % of the pile (a mere 13,000 households who have an average annual income of $5 million and an average net worth of $17 million: their sum-total annual take approximates $65,000,000,000 and their combined net worth approximates $221,000,000,000) per Princeton Business School economist Paul Krugman.
That's right: per year 2000, 13,0000 households took $65 billion (5 mil x 13,000 = 65 bil) in income and own $221 billion (17 mil x 13,000 = 221 bil) in national assets.
Meanwhile, per a post from Julien earlier, places like Indy, where non-rich, non-0.01-percent people are lucky to get $15-an-hour manufacturing jobs during a generation of scale-back, the houly-wage crowd keeps voting Republican for some reason I cannot understand. Are Republicans really that good for business?
Given business likes an objective eye to profit, let's take the national inventory under Bush, shall we? I want to be clear about what I don't understand:
Can someone explain how the hell any of this is good for business?
Actually, I can explain: my question above was rhetorical. Therefore, allow me to do so.
For people like you and me, the current circumstances suck. Let's not forget that, for us, the list includes the looming hike in natural gas prices and, just of today, a looming hike of massive scale for diesel fuel (see article directly above).
But what if you are of that 0.01 percent? What do the current circumstances mean for that group?
ELEMENTARY! If you are of the "billion" crowd, you have enough that adjusting anything in your life is not required - and we, the average schlubs, know that. I mean, if someone has enough dough they can pop one-and-a-quarter million bucks for wheels just to drive to the office like this, it does not take a Krugman-like education to deduce that the someone in question will be okay, no matter what, period.
BUT - now? With layoffs, closures, and declining profits? From the billion perspective, everything is on sale . Stocks drop - so billions can afford more shares per dollar. Interest rates rise, so billions gain more interest on the dollar. Wages fall, so billions have to pay workers less and save on every dollar. Companies shed employee bennies, so the billion's cost of doing business drops and thus they make more on each dollar.
The final equation under these circumstances?
More for the billions - and less for us.
Keep that thought in mind as you pay your natural gas, electric, gasoline, and food bills this month: you've been bought and paid for.
And if you voted for those Ass-Clowns Bush and Cheney? I frankly hope you have to choose between food and heat this winter: you got the government you were promised, per their own speeches in 2004.
We, The Left, did not want this government.
Now that you have what you want, are you happy? If ya ain't, you best shut your mouth and learn to grin and bear it: you have three more years of getting what you deserve ahead. Best pull yourself up by the bootstraps: one whine about the state of affairs earns a kick in the pants from me.
'Bean
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In my memory, under the Nixon, Ford, Reagan-Bush, and now Bush II, we have suffered: (1) business closures, (2) some form of inflation with either (2a) rising durable goods prices or (2b) rising energy costs leading to (3) job layoffs with subsequent (4) reduced taxes as "business incentive" leading to (5) reduced compensation to the self-supporting who lost their jobs and, finally (6) increases in standard of living at the very top 0.01 % of the pile (a mere 13,000 households who have an average annual income of $5 million and an average net worth of $17 million: their sum-total annual take approximates $65,000,000,000 and their combined net worth approximates $221,000,000,000) per Princeton Business School economist Paul Krugman.
That's right: per year 2000, 13,0000 households took $65 billion (5 mil x 13,000 = 65 bil) in income and own $221 billion (17 mil x 13,000 = 221 bil) in national assets.
Meanwhile, per a post from Julien earlier, places like Indy, where non-rich, non-0.01-percent people are lucky to get $15-an-hour manufacturing jobs during a generation of scale-back, the houly-wage crowd keeps voting Republican for some reason I cannot understand. Are Republicans really that good for business?
Given business likes an objective eye to profit, let's take the national inventory under Bush, shall we? I want to be clear about what I don't understand:
(1) crude oil prices rising
(2) gasoline prices rising
(3) massive national debt
(4) expensive war
(5) war not going well
(6) tax cuts for that top 0.01 percent
(7) mid-income jobs outsourced to other nations
(8) average wage declining
(9) credit-card "relief" scam foisted on population
(10) possible criminal actions associated with call to war
(11) perp of 9-11, Osama bin Laden, son of a wealthy, political Saudi petro family still free
(12) with decreased supply and weather issues, USA more dependent on Saudi oil than ever
(13) serious legal issues with members of Republican Party, Administration, and Advisors
(14) possible criminal/treason actions within inner circle to foster war
(15) failure of "smaller, leaner government" to address Hurricanes Katrina and Rita
(16) more sum-total jobs lost since that joke-of-a-president Hoover
(17) no energy policy, energy conservation plan, or low-cost transit (people AND freight) plan in sight
(18) no end to the war in sight
(19) no method to deal with possible Avian Influenza Pandemic in sight
Can someone explain how the hell any of this is good for business?
Actually, I can explain: my question above was rhetorical. Therefore, allow me to do so.
For people like you and me, the current circumstances suck. Let's not forget that, for us, the list includes the looming hike in natural gas prices and, just of today, a looming hike of massive scale for diesel fuel (see article directly above).
But what if you are of that 0.01 percent? What do the current circumstances mean for that group?
ELEMENTARY! If you are of the "billion" crowd, you have enough that adjusting anything in your life is not required - and we, the average schlubs, know that. I mean, if someone has enough dough they can pop one-and-a-quarter million bucks for wheels just to drive to the office like this, it does not take a Krugman-like education to deduce that the someone in question will be okay, no matter what, period.
BUT - now? With layoffs, closures, and declining profits? From the billion perspective, everything is on sale . Stocks drop - so billions can afford more shares per dollar. Interest rates rise, so billions gain more interest on the dollar. Wages fall, so billions have to pay workers less and save on every dollar. Companies shed employee bennies, so the billion's cost of doing business drops and thus they make more on each dollar.
The final equation under these circumstances?
More for the billions - and less for us.
Keep that thought in mind as you pay your natural gas, electric, gasoline, and food bills this month: you've been bought and paid for.
And if you voted for those Ass-Clowns Bush and Cheney? I frankly hope you have to choose between food and heat this winter: you got the government you were promised, per their own speeches in 2004.
We, The Left, did not want this government.
Now that you have what you want, are you happy? If ya ain't, you best shut your mouth and learn to grin and bear it: you have three more years of getting what you deserve ahead. Best pull yourself up by the bootstraps: one whine about the state of affairs earns a kick in the pants from me.
'Bean
