Thursday, October 13, 2011

Both the left and right really sadden me

I see more and more hate hurled at the TEA party by the left and dismissal of Occupy Wall Street as a bunch of lazy hippies being paid to camp by the right. Both movements have valid points. The government is too big. Anyone who thinks the government is out to help them is a big idiot. Government is the most corrupt inefficient organization on the planet. I know I worked for them. There are a lot of good people working in the govt. offset by a bunch of worthless lazy idiots who aren't fired because their bosses are too lazy to go through the steps to fire them. So then a new boss comes along, notices they haven't been promoted in awhile and promotes them. I saw first hand how management sat around and did nothing or went to play at the bar for lunch and never came back. The government wastes billions if not trillions of dollars every year but the left just loves to trot out more needs to spend on. Most of them are wants and ridiculous wants at that. A small targeted government would make our country more efficient and less wasteful.
Occupy Wall Street has a point as well even though they aren't really sure how to make it yet. Corporate fat cats are holding on to billions of dollars in company and personal wealth. How can trickle down economics work if nothing is trickling down, its just sitting in someone's bank account or in stock. Most of the wealth of the people of the United States in concentrated in the hands of a very small few. They are not spending or putting any of this money to work or they wouldn't continue to be on the list of the wealthiest people. Its also more important to prop up their share prices rather than put people to work. Is a little piece of paper that could be shredded in an instant really more important than 1000s of peoples lives? Obviously the answer is yes.
Start thinking for yourselves people and stop listening to what some moron in a political party or some wacko who is left or right is spouting. Look at the ideas that are being put forth and not whether something is affiliated with one side or the other.

Occupy Wall Street is fed up because JP Morgan is willing to spend on shareholders but not employees

JPMorgan posted quarterly earnings of $4.3 billion, or $1.02 per share, down from $4.4 billion, or $1.01 per share, in the same quarter last year.

The results were muddied by adjustments for the market value of the bank's debt, which gave it a $1.9 billion pre-tax gain.

Despite the weak environment in investment banking, JPMorgan bought back $4.4 billion of stock during the quarter, and its diluted outstanding shares fell about 3 percent.

JPMorgan Chief Executive Jamie Dimon said the company is cutting 1,000 jobs in its investment bank. Banks globally are laying off staff in the wake of weak stock and corporate credit markets.

The above are all quotes By David Henry | Reuters on Oct 13, 2011.

So lets get this straight, JP Morgan can spend $4.4 Billion propping up company shares for shareholders and executive fat cats but screw the 1000 employees. You know they are not getting rid of the highly paid ones. These are all the people who are actually doing the work probably making $100,000 or less. Now they will have lots of extra cash to give more fat bonuses to morons who already take home fat paychecks. Is it any wonder that America hates Wall Street? The executives in charge think only about themselves and how many stock options they are going to get. Not whether they could spend some of this huge warchest they have laying around adding employees and boosting the economy. Or maybe do something original with it and forgive a certain amount of debt on peoples houses to help them stay in it. But no they'd rather just foreclose and take a bigger hit to their books.