Tag Archives | Economics

Switzerland To Vote On Radically Limiting CEOs’ Pay Nationwide

ZurichMontageMost likely with fists clenched and all the blood drained from its face, the Wall Street Journal reports:

Switzerland is expected to vote later this year on a proposal to place further limits on executive pay, the latest effort to govern corporate compensation in a country that recently approved some of the world’s strictest say-on-pay rules.

The Young Socialists have collected more than 100,000 signatures—the threshold needed to call a vote—in support of a referendum to limit executive salaries to 12 times those of a company’s lowest-paid employee.

The campaign, dubbed the 1:12 Initiative for Fair Pay, is named for the organizers’ belief that no one in a company should earn more in one month than the lowest-paid employee makes in a year.

The Swiss Federal Council, the country’s cabinet, has advised the parliament to recommend that voters reject the proposal. However a poll earlier this month showed 49.5% of respondents were in favor of the 1:12 Initiative, 40.5% against and 10% undecided.

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Rx for Revolution

MatrixBluePillRedPill“We were probably the most conservative-minded revolutionaries who put through a successful revolution.”  Kevin O’Higgins

“If they have real grievances redress them, if possible; or acknowledge the justice of them . . . . If they have not, employ the force of government against them at once. “  George Washington, letter to Henry Lee, 31 October 1786

“I am a monarch of God’s creation, and you reptiles of the earth dare not oppose me.  I render an account of my government to none . . . .”
Napoleon Bonaparte, speech at Breda, 1 May 1810

While the exact precipitants of overt rebellion are perhaps impossible to predict, history does grant us absolute certainty that the next regime will be a fundamentally conservative one.

The revolution of 1789 may have been reasonably foreseen given that country’s horrific long-term economic trends and decades of fiscal mismanagement by the French Crown.  However, before Easter 1916, few would have dared prophecy an end to nearly 800 years of English dominance in a disgruntled and disenfranchised but thoroughly exhausted and demoralised Ireland.  And even today it is more than a little perplexing as to why 1773 in particular should be the occasion for violent resistance to British Crown policies which had been pursued at least since 1696, when William III established the Lords of Trade.  But inevitably each of these momentous events was succeeded by a conservative regime.… Read the rest

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Americans Increasingly Turn To Selling Body Parts

bloodYour family might be worth more chopped up and sold for parts. Via Bloomberg:

Hair, breast milk and eggs are doubling as automated teller machines for some cash-strapped Americans. While Americans can legally sell hair, breast milk and eggs, the sale and purchase of a kidney in the U.S. is against the law.

In all but two quarters since the beginning of 2011, “hair,” “eggs,” or “kidney” have been among the top four autofill results for the Google search query, “I want to sell my…,” according to Nicholas Colas, chief market strategist at New York-based ConvergEx Group.

At Shady Grove Fertility Center, which has offices in Washington, Virginia, Maryland and Pennsylvania, about 13,000 women will apply this year to be an egg donor. That’s roughly a 13 percent increase from 2012.

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In Recognition of Endless Wars and Those Who Profit From Them: The Savage Sword of Conan

via chycho

conan_2_1d_thumbIn recognition of endless wars (2) and imperial presidencies, executive salary bonuses, maximizing shareholder value, and banking profits, in recognition of profits made from selling weapons of mass destruction, waging war, and propagating fear, and in recognition of big oil (2, 3) and profiting from scarcity, let’s remind ourselves who actually benefits from war by taking a look at a couple of pages from one of the greatest comic book series ever created, “The Savage Sword Of Conan”.

Below you will find panels from page 29 and 30 of the August 1983 issue of The Savage Sword Of Conan #91 (click images to show full pages and enlarge):

source

The story so far …

    Conan and his mercenary army have won another victory and have dispatched their fastest rider to carry the news to King Ronal of Lapis L’harr, a Corinthian city-state engaged in protracted warfare with the adjacent city-state of Razalah B’qen:










In comic books, more often than not, the good guys win.… Read the rest

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The Ugly Truth: What the Drop in Unemployment Doesn’t Tell You.

ratrace

It’s the same game, only harder!

The truth is out.  We are living in a time when a shocking four out of 5 U.S. adults will struggle with joblessness or poverty.  This revelation not only flies directly in the face of another drop in unemployment, but reconfirms what many of us had already known, we’re in trouble.

If you find yourself looking for a job, you’re in an over-crowded market where the young and educated are relegated to jobs well below their intellectual station. This is due in part to the heavy competition at the of the top of the job market among the highly-skilled.  Basically, those left out of the jobs they really want are knocked down a peg, creating what Economist Paul Beaudry calls “cascading.”  The top pushes down on the middle and the middle pushes down on the bottom, burying those who are most vulnerable and under-qualified.

This phenomenon stems from what’s been deemed  The Great Reversal.”  That is, there used to be an over-abundance of high-paying jobs that required skill, intellectual capital and education, but now there just aren’t.  In fact, demand for those types of jobs peaked all the way back in the year 2000.  That’s right, even with all this talk of a “skills gap,” the need for high-skill jobs actually stopped growing 13 years ago.… Read the rest

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What I Learned Walking The Picket Line

Picket line in front of Wendy's in the Chicago loop. Photo by Aaron Cynic

Picket line in front of Wendy’s in the Chicago loop. Photo by Aaron Cynic

Aaron Cynic writes at Diatribe Media:

Yesterday’s hardest moment came for me when I watched a worker cry. I had been on the streets for about 5 hours with striking workers from the Fight for 15 movement and their supporters, who held a series of actions for two days in conjunction with a national week of strikes and protests to raise the minimum wage. I met the first picket in front of a Subway in the Chicago loop during the morning rush hour where several workers walked off the job. Organizers planned more than twenty pickets spread throughout the financial heart of the city for the day. Hundreds of demonstrators snaked along the sidewalks, stopping in front of retail and fast food outlets to deliver their message – “We can’t survive on $8.25.”

Morning was slowly turning to afternoon and demonstrators lined the sidewalk in front of a Walgreen’s on State and Randolph, a location sandwiched between the Chicago Theater and a Macy’s outlet in the loop.… Read the rest

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Robb Smith on Economics, World Crisis and More

robb09headshotKeith Martin-Smith’s Only Everything podcast recently had on entrepreneur Robb Smith. This thirty-eight minute interview covers a lot of ground, discussing the collapsing economy, the historical background of the situation and what the future is likely to be. A pretty wide-ranging conversation, moves along quickly, and there’s some good nuggets for consideration. Worth listening to.

From Only Everything:

Robb is a social entrepreneur who works on “transformational era” systems at the intersection of human development, education, spiritual understanding and civilizational sustainability. He holds a uniquely grand view of what’s happening in the world today and what makes Millennials unique.

We get into nothing short of the future of the world economy, human happiness, and where we’re heading in the next 5-6 decades.

We discuss:

  • How World War II transformed the American economy and fueled the emerging consciousness counterculture of the 60′s and the success of Gen X in the 90′s
  • How this economic foundation is in the process of collapsing
  • What happens when a culture like ours, focused on finding lives of “meaning”, has the economic rug pulled out from under it (hint: crisis)
  • How companies like Air B&B represent the downside and problem with technology interacting with brick-and-mortar industries, such as hospitality
  • Why it’s  better today  to be a Chinese teenager today than an American one (and not what you think)
  • Why the next great economic wave and business movement will and must move away from a winner-takes-all mentality to a “win-win” mentality, as represented by B-corps and conscious capitalism.
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Goldman Sachs Contains 4,000 Separate Corporate Entities

Including more than 739 companies based in the Cayman Islands alone. Common Dreams on the staggering webs woven by multinationals as they split and grow, bringing to mind primitive, blob-like life forms expanding and engulfing their surroundings:

The London-based Open Data Institute has collected and mapped ccorporate data, much of it made public for the first time, showing the complex relationships between multinational companies and their global subsidiaries. Stunning visuals on the corporate networks of the six biggest banks in the U.S. – Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo, Citigroup and JP Morgan – show the tangled webs they weave.

corporate entities

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Wall Street Investors Buying Up Entire Neighborhoods In Poorer Areas

wall street

Wall Street investment firms are eager to become your new landlord. New York Times Dealbook reports:

Large investment firms have spent billions of dollars over the last year buying homes in some of the nation’s most depressed markets. The influx has been so great, and the resulting price gains so big, that ordinary buyers are feeling squeezed out. Nationwide, 68 percent of the damaged homes sold in April went to investors, and only 19 percent to first-time home buyers.

Wall Street played a central role in the last housing boom by supplying easy — and, in retrospect, risky — mortgage financing. Now, investment companies like the Blackstone Group have swooped in, buying thousands of houses in the same areas where the financial crisis hit hardest.

Blackstone, which helped define a period of Wall Street hyperwealth, has bought some 26,000 homes in nine states. Colony Capital, a Los Angeles-based investment firm, is spending $250 million each month and already owns 10,000 properties.

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The Invisible Histories, Pt. I – Devil Thou Art Ambiguous

SatanasAntichrist[We tend to view History as a linear line of events, one leading inexorably to the next but History like the present, is composed of a myriad of interlocking discreet moments.  These first few entries of the Invisible Histories will examine those historical forces which have currently manifested in the form of a Catholic Pope crusading through the America’s against the Animist and Pentecostal religious faiths which have emerged here.  Also cocaine, there will be lots of cocaine.  No names have been changed to protect the innocent because from a historical perspective no one is innocent.]

This will be complicated.

First we have to go all the way back to the Second World War and to Italy because that’s when the Vatican created its slush fund.  I am not really sure how else to describe ‘the Institute for the Works of Religion’, definitely not the word ‘bank’ however.   In the recent sort of confusing and not often talked about  Vatican banking scandal, ‘banking’ gets mentioned a lot and rightly so since it involves a lot of banks but the actual arm of the Vatican which has been caught in this dirty business is not in fact the Vatican’s bank.  That by necessity falls under Papal mandate and is the Roman Curio known as ‘the Patrimony of the Apostolic See’ which manages the Vatican’s International property and currency holdings.  Bored yet?  It gets weirder.… Read the rest

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