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Posts Tagged ‘crapitalism’

The Dolphin and the Monkey


The ship went down with all the passengers except a monkey. He struggled hard to keep his head above water but went down once and managed to come up again. He cried, ‘Oh terrible to die!’ He went once more down and grew weaker with effort. ‘Had I only learned to swim!’he gasped and prayed. ‘As the captain of the industry I should have organized life guards to the ship. And I would have survived this terrible fate!’
The monkey cried bitter tears. At that moment a dolphin surfaced out of nowhere. He swam upto the monkey and said, ‘Don’t cry! you are making things worse.’
The monkey said,’I began as a bond trader. I made millions. If I die what will I do with my off-shore accounts? My private jet? Or fleet of limos waiting round the clock to take me to places?’
The dolphin was friendly and asked the monkey to climb on its back. ‘I am Mr. Silverbacks. CEO of Golden Showers.’
‘Real Gold, I suppose?’ The dolphin asked conversationally. ‘Yeah, the Bank.’


The dolphin said, ‘When the Lehman brothers went bust I knew my services would be needed.’
‘Sure you came not too soon.’ Mr.Silverbacks snapped, drying himself.
The dolphin went on with swimming, ‘Think of the bright things in life. It will take your mind off depressing things like death by drowning, starving poor, unemployment, recession’.
Immediately Mr. Silverbacks sat up erect. He chuckled and said,’You know what was my bonus last year?’
The dolphin said, ‘You tell me.’
‘390 millions.’ Dolphin whistled and said, ‘You must have really earned it?’
‘I sure did,’ Mr. Silverbacks said with a grin, ‘I took the risk didn’t I? Short term profits and public losses that came on a slow boat. Once I had taken my cut what do I care?’
The dolphin shivered and said he was carrying a dangerous cargo. He told his passenger,’ You are upsetting me, my morals I mean. Think of future, I helped since I have certain values in life.’
‘Values! Poppycock! Show me the color of your money. I will tell you what they are worth.’ The monkey was sure, ‘Don’t go through life on altruism. Greed made the world. I can help you make the switch.’
‘No you don’t!’ the dolphin just dived leaving the monkey to his fate.
benny

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Remember the securitization food chain that led many banks to collapse?It followed the law that deregulated safety controls set in place to save the nation from another Depression of 1929. In 1982 Reagan opened the way for banks to make private profits over public losses so what happens but subprime mortgage crisis? Anyone could own million dollar house and only when the housing market bubble burst the nation realized the citizens were short-changed while many made their billions. After the 2008 Global economic crisis one would think the government would get its act together. No the current news makes it clear.

SAN FRANCISCO (AP) — A clerical error landed Kathleen Casey on the streets.
Out of work two years, her unemployment benefits exhausted, in danger of losing her apartment, Casey applied for a job in the pharmacy of a Boston drugstore. She was offered $11 an hour. All she had to do was pass a background check.
It turned up a 14-count criminal indictment. Kathleen Casey had been charged with larceny in a scam against an elderly man and woman that involved forged checks and fake credit cards.
There was one technicality: The company that ran the background check, First Advantage, had the wrong woman. The rap sheet belonged to Kathleen A. Casey, who lived in another town nearby and was 18 years younger.
Kathleen Ann Casey, would-be pharmacy technician, was clean.
“It knocked my legs out from under me,” she says.
The business of background checks is booming. Employers spend at least $2 billion a year to look into the pasts of their prospective employees. They want to make sure they’re not hiring a thief, or worse.
But it is a system weakened by the conversion to digital files and compromised by the welter of private companies that profit by amassing public records and selling them to employers. These flaws have devastating consequences.
It is a system in which the most sensitive information from people’s pasts is bought and sold as a commodity.
A system in which computers scrape the public files of court systems around the country to retrieve personal data. But a system in which what they retrieve isn’t checked for errors that would be obvious to human eyes.
Integration principle denote the manner how an evil practice could run into different layers affecting the society and affect at the level of individuals.
Social changes are possible because of this principle.( Ack: AP News/20 Dec.11)
Bottom line is: where else private information sensitive and sacred in any society made out to be free and enlightened, should be treated as commodity and sold for profit? Where else but under capitalism?
Capitalism practiced in America can only be dismissed as crapitalism. No other word can explain it.
benny

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What America has, in the recent times, achieved by politics spells trouble if one goes by enemployment figures. The confrontation between the GOP controlled House and Democratic-controlled Senate was fought on bi-partisan spirit and not for the good of the nation. The government defaulting on its debts was barely avoided but its credit triple rating fell.
‘The job market is even worse than the 9.1 percent unemployment rate suggests.
America’s 14 million unemployed aren’t competing just with each other. They must also contend with 8.8 million other people not counted as unemployed — part-timers who want full-time work.
When consumer demand picks up, companies will likely boost the hours of their part-timers before they add jobs, economists say. It means they have room to expand without hiring.
And the unemployed will face another source of competition once the economy improves: Roughly 2.6 million people who aren’t counted as unemployed because they’ve stopped looking for work. Once they start looking again, they’ll be classified as unemployed. And the unemployment rate could rise’.( 4th Sept- AP News the Daily Caller)
The only reason the Founding Fathers of the nation made their hard earned liberty secure was on capitalism. But politics of the skunks made it crapitalism. Here we see crapitalism at its best.
The politicians are all have their eyes on the 1912. So Democrats and Republicans did not want to look that they compromised on their principles and so cuts in spending had to be be applied for all its worth. Then only, so it seems to me, one party can give tax breaks for the super rich that keep the party relevant. ‘Kickbacks’ as a term in the Capitol Hill means not to kick a good thing that makes their tea party as cosy as can be.
Since politicians are all explaining ‘theology’ as a synonym for politics these days let me quote words of Jesus. ‘You have the poor with you always.’ As I edit this I realize the Labor days are here. Those who are taking time out resting from their labors think of who cannot rest because they have lost their labor from the day one.
The Republican party is full of able candidates who are for making a moral stand even in a political meeting. ‘You have the poor because we cannot go against the word.’
I rest my case.
benny

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Do not try this at home
There are over 82,000 residents in Trenton, as of a 2008 census.

According to latest CBS news report a 15 year old girl took her sister of 7 and she sold them for sex to as many as seven.  Trenton is the capital of New Jersey.

Police say the teenager, who stayed behind, also took money to have sex with others at a party in a Trenton apartment Sunday.

The older girl is charged with aggravated sexual assault, promoting prostitution and other crimes. Her name was not released because of her age.

Police are trying to track down the men and boys who were at the party.

The girl must have followed the spirit of free trade as dished out by politicians and capitalists alike in her own small way. Think what she set out to achieve at a tender age of 15 ! Only the manner in which she set out went wrong. She made moneyin the best tradition of capitalism on whoever she could get hold of: it happened to be her sister of seven.

The older sister apparently believed in the bromide we have heard so often,’ Catch’em young,’ and do not believe in anymore. We have become cynical as she has, and know the best trick to turn up a dollar or two is to have one fall guy on hand. Of course she had set up her sister and knew if she played her cards well she could have had the custom of  the entire Trenton. Well almost.

benny

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“Worst Is Yet to Come:” Americans’ Standard of Living Permanently Changed
Posted Feb 17, 2009 12:53pm EST by Aaron Task in Investing,
There’s no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment.

But “the worst is yet to come,” according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American’s standard of living is undergoing a “permanent change” – and not for the better as a result of:

* An $8 trillion negative wealth effect from declining home values.
* A $10 trillion negative wealth effect from weakened capital markets.
* A $14 trillion consumer debt load amid “exploding unemployment”, leading to “exploding bankruptcies.”

“The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car,” Davidowitz says. “A lot of that is gone.”

Going forward, the veteran retail industry consultant foresees higher savings rate and people trading down in both the goods and services they buy – as well as their aspirations.

Now let me  quote from Paul Krugman’s article,’Decade at Bernie’s’:

‘Until very recently Americans believed they were getting richer, because they received statements saying that their houses and stock portfolios were appreciating in value faster than their debts were increasing.

…It’s worth remembering …notably in right-leaning publications like The Wall Street Journal, Forbes, and National Review’ (promoted the belief that the Americans could count on capital gains forever and ridiculed those who worried about low savings and high levels of debt.)

Now it seems those who worried were right after all. The surge in asset values had been an illusion and the debts were,  not a surge but an hurricane to which Katrina is merely a sneeze.

There is a statutory warning on cigarette packs. Shouldn’t there be a similar warning on any financial pundit who paints a rosy picture on insufficient evidences,  in the interests of public safety? As for the Wall Street Journal and similar journals who do the role of a barker for dubious bankers (if found to be true) ought to be held responsible for the mischief they are doing with impunity. I think in such a case they are equally  culpable as doctors who are at present sued for malpractice.

In any case as Betty Davis says in All About Eve, a bumpy ride ahead is for all whose only fault was to believe in the system.

benny

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