Tag Archives | Economics

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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Why The “Financial Literacy” Push Is A Sham

financial literacyApril was national financial literacy month, promoted heavily by major banks and other debt-producing institutions who want you to believe that poverty, the financial crisis, and mounting student debt are the result of ordinary people’s ignorant refusal to discipline themselves and budget properly. Via the Guardian, Helaine Olen writes:

Companies and colleges say that if we all understand our finances, financial crises won’t happen. This is simply untrue.

April is National Financial Capability Month. Federal Reserve chairman Ben Bernanke says: “Among the lessons of the recent financial crisis is the need for virtually everyone – both young and old – to acquire a basic knowledge of finance and economics.” Sounds great.

But it promotes the false equivalence that the victims of the financial shenanigans of the past several years are as responsible for the financial crisis as the financial services sector, the ultimate creator of all those financial products of mass destruction.

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Major U.S. Banks’ Checks Sent To Homeowners Bounce In $3.6 Billion Improper Foreclosure Settlement

improper foreclosureHere’s fair warning that if Bank of America, Citibank, Goldman Sachs, HSBC, or Wells Fargo illegally foreclose on your home, the piddling compensation check sent to you a few years later may bounce when you attempt to cash it. Via ABC News:

A bunch of big banks agreed to a $3.6 billion legal settlement a few months ago to halt a review of improper foreclosures, in which banks’ law firms fabricated and robosigned documents.

Under the settlement, checks will be sent to more than 4 million homeowners who lost their homes to foreclosure in 2009 and 2010.

The first wave of checks was sent Friday. And, according to the Federal Reserve, at least some of them bounced. The Fed phrased it this way: “Some early recipients of checks informed the Federal Reserve’s consumer helpline on Tuesday that they were told their checks could not be cashed.” The Fed says the problem has been solved.

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