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Prosper

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Member since: Fri Oct 19, 2018, 02:17 PM
Number of posts: 373

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Rectify the mess Phil Gramm made and a lot is possible.

Phil Gramm is of the right wing winner take all and solve your own problems. This country would be enjoying prosperity for all if most of the investment money wasn’t stagnated in non productive side bets which is essentially what derivatives are. The passing of Phil Gramm’s Commodities Futures Modernization Act sabotaged our economy by massive deregulation, legalizing previously illegal trading, reclassifying and opening up the definition of futures and doing away with the major laws made to prevent another collapse. 2008 was not enough of a warning to stop dangerous financial practices. Right after leaving the Senate Phil Gramm went to work for UBS. (His time at UBS is very dark and UBS is in trouble). Below are results helped by Gramm’s CFMA he rushed through with a last minute vote.

The derivatives market is, in a word, gigantic – often estimated at more than $1.2 quadrillion on the high end.

https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp

Some economists state that the 1999 legislation spearheaded by Gramm and signed into law by President Clinton—the Gramm–Leach–Bliley Act—was significantly to blame for the 2007 subprime mortgage crisis and 2008 global economic crisis.[22][23] The Act is most widely known for repealing portions of the Glass–Steagall Act, which had regulated the financial services industry.[24] The Act passed the House and Senate by an overwhelming majority on November 4, 1999

https://en.m.wikipedia.org/wiki/Phil_Gramm

Tax Reform Unleashed the U.S. Economy
The Wall Street Journal
ECONOMICS

Phil Gramm
March 4, 2019


https://www.aei.org/articles/tax-reform-unleashed-the-u-s-economy/

Gramm’s comments and ideas above in the WSJ article are exactly what almost collapsed the economy in 2008. Secular is the key word.

'There's something terribly wrong': Americans are dying young at alarming rates

Death rates from suicide, drug overdoses, liver disease and dozens of other causes have been rising over the past decade for young and middle-aged adults, driving down overall life expectancy in the United States for three consecutive years, according to a strikingly bleak study published Tuesday that looked at the past six decades of mortality data.

https://www.google.com/amp/s/www.washingtonpost.com/health/theres-something-terribly-wrong-americans-are-dying-young-at-alarming-rates/2019/11/25/d88b28ec-0d6a-11ea-8397-a955cd542d00_story.html%3foutputType=amp


With record number with health insurance why are more people dying, death rate up, life expectancy down.

-----Bernie's message about wages,healthcare and college

are what will beat Trump. Biden is not doing that much different than Hillary. Bernie is the only hope to beat trump and turn the economy around.

People don't understand what socialism and right wing capitalism are. If they did the country would

Far left

A main tenet of socialism is nobody gets wiped out by a bad choice. It is like insurance and spreads the debt among everybody. 2008 created the perfect example of socialism:

“Amid the chaos caused by Lehman’s collapse, the big banks got hundreds of billions of dollars in bailouts. Aggressive stimulus efforts by Washington officials injected trillions of dollars more into the financial markets and the economy, helping to end the recession, trigger record bank profits and fuel a historic stock market boom.”


But there were no big bailouts (socializing) for lower- or middle-income Americans.

Here is right wing capitalism where you are solely responsible for your decisions and problems:

“About 8.7 million people lost their jobs, sending the unemployment rate soaring to 10%. Housing prices dropped by a third nationwide from their 2006 peak — and even further in California — causing as many as 10 million people to lose their homes.”

The cornstarch replacement for talc is one of the most

volatile powered grains. Can cause explosions. Also under certain conditions it can host bacteria and fungi. I demonstrated to my wife how cornstarch blown into an open flame resembled a blow torch.

Boeing is not the first software sourced plane crash.

“Air France Flight 296 was a chartered flight of a new Airbus A320-111 operated by Air France.[1] On 26 June 1988, it crashed while making a low pass over Mulhouse–Habsheim Airport “

Pilot says plane was low speed/altitude and the plane defaulted to landing protocol and would not accept increase power signals. Hit treetops and crashed.

Doesn’t seem possible that 31 years later software causes multiple fatality crashes. Space shuttle cost so much because of quadruple redundancy safety checks. Hubble had problems because of 6th grade level problem overlooked. Accidents should carry weight of human suffering when ascribing blame. If corporations deserve recognition as people then they should carry liability as people.

----Reducing the office of President to the performance stage

for an egotistical elitist antagonizing gross bully has got to be responsible for growing violent behavior universally.

Obama, you cemented poor people to the bottom of incomes

when you chose Geithner. The success of the world depends upon pandering to poor people with good paying jobs. Put people to work with good paying jobs and prosperity will thrive. Supporting the status quo that permits trillions of dollars removed from the world economy creating poverty is the path to destruction. You should support Bernie in his effort to get spending money in the hands of people that will buy massive amounts of consumables. That is the real and true economy. Supporting the Ponzi economy that siphons fees from bets on performance is not self supporting. Eventually overpriced stocks collapse, prices drop and the ultra wealthy buy up more. You and the status quo deprive opportunity by allowing profit taking to put even more money into non productive derivative and derivative type trades. When full employment doesn’t trigger rising wages a crash becomes awesomely imminent. Obama, pledge your support to pandering to the poor by supporting jobs producing investing. Pledge your support to ending the Ponzi economy by making the stock market valuable from earnings. Pledge your support to help Bernie pander to the poor by ending gambling in the stock market and supporting laws that will put money into goods and services producing investments. Obama, pledge support for the national interest and promise to break the back of promoting private interests. Make money work to build a wealthy population. Pander to the poor with opportunity, health and education. Money is the lifeblood of an economy not a tool to create poverty. Make money work.

----Bloomberg touts taxing the poor: 'Do you want to pander to those people?'

Incredible for a Democratic to take a stand against the poor. He demeans poor people to the level of animals. Taking a stand against the poor is not good.


I do apologize for citing the “Washington Times”. It is public information that Bloomberg wanted to tax or ban sugary drinks starting in 2012. Since it was generic information I paid no notice to the source. I had no knowledge of the Washington Times but being familiar with his banning taxing sugary drinks since 2012 I did not question what was public information. I again apologize for citing a right wing conservative source. My position on everything I have posted is far left progressive. I have absolutely no problem with banning sugary drinks. The only reason they are not banned is pandering to suppliers and vendors. If there is any honesty in concerns for health then sugary drinks would be banned.

----"Here in GA you get free tuition from the lottery if you're grades are above X."

Grades qualifying for any type of educational assistance is wrong. It perpetuates the income gap and poverty class. The National Interest is served by free education. A rapidly accelerating progressive income tax code sustained by a dedication to higher paying wages would finance prosperity. Realigning with taxes the value of stocks dependent on earnings would stabilize and sustain prosperity. Consumerism is the only solution to providing living wages. There are zero waste and emission factories now. That debunks that poverty is necessary for clean air. There is no justification for any kind of discrimination regulating access to education. The right wing has ingrained its perception that assistance is bad. The country can increase wages and GDP without pollution.
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