background preloader

Economics

Facebook Twitter

For the Love of Money. Photo IN my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. I was 30 years old, had no children to raise, no debts to pay, no philanthropic goal in mind. I wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted. Eight years earlier, I’d walked onto the trading floor at Credit Suisse First Boston to begin my summer internship. I already knew I wanted to be rich, but when I started out I had a different idea about what wealth meant. I’d come to Wall Street after reading in the book “Liar’s Poker” how Michael Lewis earned a $225,000 bonus after just two years of work on a trading floor.

I’d learned about the importance of being rich from my dad. Dad believed money would solve all his problems. IT was a miracle I’d made it to Wall Street at all. Three weeks into my internship she wisely dumped me. Over the next few years I worked like a maniac and began to move up the Wall Street ladder. I was lucky. What the Economic Crisis Really Means - and what we can do about it. 'Mass suicide' protest at Apple manufacturer Foxconn factory. Foxconn, which manufactures gadgets for the likes of Apple, Sony, Nintendo and HP, among many others, has had a grim history of suicides at its factories. A suicide cluster in 2010 saw 18 workers throw themselves from the tops of the company's buildings, with 14 deaths.

"We were put to work without any training, and paid piecemeal," said one of the protesting workers, who asked not to be named. "The assembly line ran very fast and after just one morning we all had blisters and the skin on our hand was black. The factory was also really choked with dust and no one could bear it," he said. Several reports from inside Foxconn factories have suggested that while the company is more advanced than many of its competitors, it is run in a "military" fashion that many workers cannot cope with. At Foxconn's flagship plant in Longhua, five per cent of its workers, or 24,000 people, quit every month. "Because we could not cope, we went on strike," said the worker. Stop paying taxes! Stephen King: Tax Me, for F@%&’s Sake! The iconic writer scolds the superrich (including himself—and Mitt Romney) for not giving back, and warns of a Kingsian apocalyptic scenario if inequality is not addressed in America. Chris Christie may be fat, but he ain’t Santa Claus.

In fact, he seems unable to decide if he is New Jersey’s governor or its caporegime, and it may be a comment on the coarsening of American discourse that his brash rudeness is often taken for charm. In February, while discussing New Jersey’s newly amended income-tax law, which allows the rich to pay less (proportionally) than the middle class, Christie was asked about Warren Buffett’s observation that he paid less federal income taxes than his personal secretary, and that wasn’t fair. “He should just write a check and shut up,” Christie responded, with his typical verve. “I’m tired of hearing about it. If he wants to give the government more money, he’s got the ability to write a check—go ahead and write it.”

Heard it all before. Thank You! Education: Money is made of Nothing. (Republished from I.P.C.O. Education) 200bc. Rome Rome was having trouble with the money changers. 2 early Roman Emperors were assassinated because of their attempts to diminish the power of the money changers by reforming Usury laws and limiting land ownership to 500 acres. 48bc. Julius Caesar took back the power to coin money from the money changers and minted coins for the benefit of all, building great public works projects and making money plentiful which won him the love of the common man. With the of death of Caesar came the demise of plentiful money in Rome. 1100ad. King Henry 1st finally resolved to take the power away from the gold smiths and introduced the ‘Tally Stick System’ (accepted for the payment of taxes1100ad -1826ad.) 1500's King Henry 8th King Henry 8th finally relaxed the laws of Usury. 1553 Queen Mary 1st Queen Mary 1st took the throne and tightened the Usury Laws again, the money changers renewed the hording of gold and silver coins forcing the economy to plummet.

Your iPhone Was Built, In Part, By 13 Year-Olds Working 16 Hours A Day For 70 Cents An Hour. Full-Blown Civil War Erupts On Wall Street - Financial Elite Start Turning On Each Other. Reality Finally Hits The Financial Elite As They Start Turning On Each Other 6th September 2011 By David DeGraw - ampedstatus.org Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Time to put your Big Bank shorts on!

Well, well… here’s your Shock & Awe: First up, this shockingly huge $196 billion lawsuit just filed against 17 major banks on behalf of Fannie Mae and Freddie Mac. FHA Files a $196 Billion Lawsuit Against 17 Banks Complaints have been filed against the following lead defendants, in alphabetical order: 1. These complaints were filed in federal or state court in New York or the federal court in Connecticut. 1. 2. 3. BOOM!