tag:blogger.com,1999:blog-974773076690597683.post7144670564457393971..comments2024-03-27T18:00:02.032-04:00Comments on Sardonicky: Eve of DestructionKaren Garciahttp://www.blogger.com/profile/15612731479365562803noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-974773076690597683.post-71058713691869355022013-10-17T11:04:17.248-04:002013-10-17T11:04:17.248-04:00The crisis will continue but not on the front or e...The crisis will continue but not on the front or even back pages. There appears to be considerable angst internationally as to the soundness of our 'paper', U.S. treasuries. The Chinese, always practical, are again talking about cobbling together some kind of index currency to replace the dollar. It is a tremendous advantage to us in having the dollar as the international medium of exchange.<br /><br />As for Friedman, he's pathetic but still, I think, the voice of the powers that be. Something's going on up there and I don't like it.James F Traynornoreply@blogger.comtag:blogger.com,1999:blog-974773076690597683.post-79968613880577402362013-10-17T09:58:13.136-04:002013-10-17T09:58:13.136-04:00Like the rest of you I'm waiting for the fine ...Like the rest of you I'm waiting for the fine print to appear on the deal to put government back to work and raise the debt.<br /><br />For those of you who haven’t heard, Glenn Greenwald is leaving the Guardian to help kick start a new venture in journalism funded by eBay multimillionaire Pierre Omidyar.<br />http://pressthink.org/2013/10/why-pierre-omidyar-decided-to-join-forces-with-glenn-greenwald-for-a-new-venture-in-news/<br /><br />This could be interesting. It might be tough to freeze out a multibillionaire who has the desire and the millions to give established media giants a real run for the money.<br /><br />I haven’t checked this out with Karen, but if I knew Omidyar’s email address (Greenwald’s is already available), I’d send him a certain blogger’s resumé not just for a column but to help direct the entire newsroom.Jay–Ottawahttps://www.blogger.com/profile/10360356126450612113noreply@blogger.comtag:blogger.com,1999:blog-974773076690597683.post-62155235052330104832013-10-17T00:47:58.107-04:002013-10-17T00:47:58.107-04:00I think the debate about entitlements needs to be ...I think the debate about entitlements needs to be refrained. Every cut we make from aid to the poor turns into aid for the rich. So instead of talking about the poor 'moochers' who are being carried along by the system, we need to talk about the rich moochers who are being carried along by the system. Every dime that comes out of our pocket from 'reform' ends up in the pockets of the rich. So let's cut entitlements, heck let's get rid of them, but only the ones for the rich.<br /><br />And on another note. That giant Pentagon/NSA/CIA budget, where does that money go? Corporations. So the corporate world gets $1trillion or so a year from the government, and the actual citizens of this country... nothing. Yet it is the citizenry who are 'moochers' and 'takers' and 'leeches'. What a country!The Black Swanhttps://www.blogger.com/profile/03988752808485377434noreply@blogger.comtag:blogger.com,1999:blog-974773076690597683.post-90776081240776932532013-10-16T23:18:04.349-04:002013-10-16T23:18:04.349-04:00@Pearl: You're correct in being skeptical.
@K...@Pearl: You're correct in being skeptical.<br /><br />@Karen: A fine post/comment.<br /><br />@all:<br /><br />As of Wednesday evening, Karen's comment to Friedman's column had the most reader recommendations of any comment on that column. And quickly scanning through the first page of most-recommended comments, I saw that virtually all in some way took serious issue with Friedman's guilt-trip dreck-rationalization that asks even less of the rich and the corporations than the inadequate amounts they currently contribute to a nation that has made them fabulously wealthy.<br /><br />Cutting corporate tax rates to zero as Druckenmiller proposes? That suggestion alone should be enough to completely discredit both Druckenmiller and Friedman. And means testing Social Security and Medicare might seem "fair", but predictably would lead to a Balkanization of beneficiaries, and cuts to the benefits of even those who most need such programs. Again, anything to avoid properly taxing the wealthy and the corporations.<br /><br />I'm never sure whether Friedman and others like him actually believe what they write, or just knowingly serve as shills for the plutocracy. Ultimately it doesn't matter, the damage they do is independent of whether factual disconnect or willful complicity is at work.<br /><br />Anyone have any idea what Friedman's total wealth, yearly income, and tax rate are? Perhaps some substantial time living as less-well-paid Americans live might modify his wealth-serving opinions. He will, though, undoubtedly require some time to acclimate, to adjust his lifestyle and expectations, and maybe even acquire a taste for cat food — perhaps he can splurge on the "gourmet" kind. He should live on progressively less money each month, say about a 10-20% decrease each month until he reaches the monthly earnings at the current minimum wage or the average retiree's Social Security payment, or better yet, say the lowest quintile of Social Security payments *. And then live at that rate for a year. <i>Then</i> we'll see whether he wants to write any more columns echoing his most recent one.<br /><br /><br />*: (<i>Minimum-wage monthly income:</i> $1,208, based on the current federal minimum wage of $7.25 per hour, 40 hours per week, 50 weeks per year.<br /><i>Average Social Security:</i> according to the U.S. Social Security government website (http://www.ssa.gov/pressoffice/basicfact.htm), in June of 2013, retired workers received a $1,269 average monthly benefit. Princely! I have no information on the distribution of those social security payments, and don't have the time to research it, but if that's the average for the current 37 million retired workers, we can expect that many millions of people are receiving appreciably less).Fred Drumlevitchhttp://www.freddrumlevitch.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-974773076690597683.post-62888434002156500612013-10-16T22:40:58.543-04:002013-10-16T22:40:58.543-04:00I have received e-mails asking me to sign a letter...<br /> I have received e-mails asking me to sign a letter of congratulations for victory to President Obama from some various democratic groups. I may reply that I am waiting to find out what cutbacks he has agreed to sign away to his opposition in order to keep Obamacare safe and unsullied before I do so.<br /><br />Also, there are voices of concern from both sides as to how it will work out once the shutdown has ended and applications are able to come in. I don't see many conservative states changing their minds about accepting Federal funds for Medicaid in order to implement the plans for Obamacare. <br />Congratulations will have to remain on hold meanwhile. Stay tuned. <br />Pearlnoreply@blogger.com