Saturday 27 September 2014

A Wealthy Capitalist on Why Money Doesn't Trickle Down | BillMoyers.com

"The fundamental law of capitalism is: When workers have more money, businesses have more customers. Which makes middle-class consumers — not rich businesspeople — the true job creators. A thriving middle class isn't a consequence of growth — which is what the trickle-down advocates would tell you. A thriving middle class is the source of growth and prosperity in capitalist economies.

Our economy has changed, lest you think that the minimum wage is for teenagers. The average age of a fast-food worker is 28. And minimum wage jobs aren't confined to a small corner of the economy. By 2040, it is estimated that 48 percent of all American jobs will be low-wage service jobs. We need to reckon with this. What will our economy be like when it's dominated by low paying service jobs? What proportion of the population do we want to live on food stamps? 50 percent? Does this matter? Should we care?"

http://billmoyers.com/2014/09/11/a-wealthy-capitalist-on-why-money-doesnt-trickle-down/



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Inside the New York Fed: Secret Recordings and a Culture Clash | BillMoyers.com

"New York Fed President William Dudley had to answer two questions quickly: Why had his institution blown it, and how could it do better? So he called in an outsider, a Columbia University finance professor named David Beim, and granted him unlimited access to investigate. In exchange, the results would remain secret.

After interviews with dozens of New York Fed employees, Beim learned something that surprised even him. The most daunting obstacle the New York Fed faced in overseeing the nation's biggest financial institutions was its own culture. The New York Fed had become too risk-averse and deferential to the banks it supervised. Its examiners feared contradicting bosses, who too often forced their findings into an institutional consensus that watered down much of what they did."

http://billmoyers.com/2014/09/26/inside-new-york-fed-secret-recordings-culture-clash/



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BRUCE: How ISIS already threatens America - Washington Times

"The New York Daily News covered the warnings of New York Police Commission Bill Bratton that the Islamic State is targeting the city, "The terror group responsible for the videotaped executions of two American journalists and a British aid worker are calling for 'lone wolf' attacks on Times Square. The recent call for terror — found in an online chat room that claims to be affiliated with the Islamic State — came with directions on 'how to prepare a bomb in the kitchen' as well as a list of tourist spots that will create 'pictures of horror.'"

Read more: http://www.washingtontimes.com/news/2014/sep/22/bruce-how-isis-already-threatens-america/




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Germany's Jewish Problem

"The wave of modern anti-Semitic rhetoric and violence inundating Germany in recent months jolted Chancellor Angela Merkel and religious and political leaders to participate in a "Stand-Up: Jew-Hatred-Never Again!" rally organized on Sept. 14 by the Central Council of Jews in Germany in the heart of Berlin's government district, not far the country's national Holocaust memorial."



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