Closing Thought–01Oct20

More bad news for the workers thanx to the Trump admin during the pandemic.

All those economic stim packages that were aimed at helping workers to live until the virus can be conquered…..most of the money….all the money….has made it into the hands of corporations….and to add one more failed program to save the workers from unemployment.

A new analysis out Wednesday reveals that the Federal Reserve bond purchasing program meant to prevent workers from losing their jobs amid the Covid-19 pandemic instead bolstered companies who laid off more than one million workers while paying massive dividends to shareholders—a finding escalating concerns that the central bank’s behavior is “contributing to an economic recovery that benefits wealthy executives and investors but leaves behind American workers.”

The report put forth by the Select Subcommittee on the Coronavirus Crisis —titled “Prioritizing Wall Street” (pdf)—examines individual corporate bonds purchased through the Fed’s Secondary Market Corporate Credit Facility (SMCCF), a lending system supported by funds from the CARES Act but which lacks taxpayer and worker protections included in other programs backed by the legislation passed earlier this year. 

For corporations hoping to become eligible to issue bonds purchased by the Fed, the SMCCF “imposes no conditions requiring companies to save jobs or limit payments to executives or shareholders,” the report notes. 

https://www.commondreams.org/news/2020/09/23/fed-program-meant-help-workers-amid-pandemic-prioritized-wall-street-investors

“The primary beneficiaries of the program have been corporate executives and investors, not workers.”

This is no different than the rest of the stim plans……make the CEOs richer and the screw the people that make these corporations possible.

Not to worry though the whole BS about the shareholders saving the working people is a LIE….please let me repeat that for the mentally slow….IT IS A LIE!

When the Business Roundtable issued a statement on corporate purpose and promised to “deliver value to all of… our stakeholders” in 2019, some applauded the attention paid to social and environmental concerns by 181 CEOs as a significant improvement from neoliberal economist Milton Friedman’s 1970 dictate that “the social responsibility of business is to increase its profits,” which marked the beginning of an era of shareholder primacy. 

But a study (pdf) published Tuesday by the Test of Corporate Purpose (TCP) initiative showed that amid 2020’s disastrous public health, economic, social, and environmental challenges—the coronavirus pandemic, massive unemployment and worsening inequality, persistent police violence and racial injustice, and intensified climate crisis—”stakeholder capitalism” has failed to follow through on its promises to do more to benefit workers and communities, continuing to “put profits ahead of people” instead. 

https://www.commondreams.org/news/2020/09/22/study-shows-stakeholder-capitalism-failing-live-promises-corporations-continue

“The study enhances doubts that corporations can be depended upon to moderate their quest for profits to pursue solutions to challenges like climate change, racial injustice, and economic inequality.”

The more you learn the more you see what a biased system we live in….the workers mean NOTHING.

If you cannot see the inequality you are either ignorant or a Trump supporter….wait…that is basically the same thing.

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

It’s Been A Bad Week For Music

It has been a horrible week for music icons from them70s and 80s…….death has taken two of the greats from the era…..Mac Davis and Helen Reddy.

First Helen Reddy…..

Helen Reddy, who shot to stardom in the 1970s with her rousing feminist anthem “I Am Woman” and recorded a string of other hits, has died. She was 78. Reddy’s children Traci and Jordan announced that the actor-singer died Tuesday in Los Angeles, the AP reports. “She was a wonderful mother, grandmother, and a truly formidable woman,” they said in a statement. “Our hearts are broken. But we take comfort in the knowledge that her voice will live on forever.” Reddy’s 1971 version of “I Don’t Know How to Love Him” from the musical Jesus Christ Superstar launched a decade-long string of Top 40 hits, three of which reached No. 1. The Australian-born singer enjoyed a prolific career, appearing in Airport 1975 as a singing nun and scoring several hits, including “Ain’t No Way To Treat a Lady,” “Delta Dawn,” “Angie Baby,” and “You and Me Against the World.”

In 1973 she won the best female vocal pop performance Grammy Award for “I Am Woman,” quickly thanking, among others, “God because she makes everything possible” in her acceptance speech. The song, which she also performed at the awards ceremony, would become her biggest hit, used in films and television series. In a 2012 interview with the AP, Reddy cited the gigantic success of “I Am Woman” as one of the reasons she stepped out of public life. “That was one of the reasons that I stopped singing, was when I was shown a modern American history high-school textbook, and a whole chapter on feminism and my name and my lyrics (were) in the book,” she said. “And I thought, `Well, I’m part of history now. And how do I top that? I can’t top that.’ So, it was an easy withdrawal.” Reddy’s death comes less than three weeks after the release of a biopic about her life called I Am Woman.

Next was Mac Davis…….

Mac Davis, who wrote hits including “A Little Less Conversation” and “In the Ghetto” for Elvis Presley before forging a successful solo career, has died. Jim Morey, the 78-year-old’s longtime manager, says Davis died Tuesday in Nashville after becoming critically ill following heart surgery. As a country singer in the ’70s and ’80s, Davis had a string of easygoing hits, including “Baby Don’t Get Hooked on Me,” which topped both the country and pop charts in 1972, the Los Angeles Times reports. Davis, who was born in Lubbock, Texas, also had his own NBC show, The Mac Davis Show, and made numerous film and TV appearances, reports the AP.

Country superstar Kenny Chesney was among many artists who paid tribute to Davis, Variety reports. He recalled how Davis and his “tremendous creative light” helped him when he was starting out. “A small town boy who’d achieved the greatest kinds of fame, he remained a good guy, a family man,” Chesney said. “That was Mac: a giant heart, quick to laugh and a bigger creative spirit. I was blessed to have it shine on me.” Davis also wrote hits for stars including Dolly Parton and Kenny Rogers, and, in later years, received co-writing credits on songs by Avicii and Bruno Mars.

Of all of Reddy’s songs my favorite was not one of her better known tunes…..

Thank you guys for your contribution to my life and my music…..

May they Rest In Peace.

Changes Needed!

73 million people watched the first 2020 presidential debate.  (Did anyone learn anything new?)

For all those that have not heard the first presidential debate was a shout fest and a complete disaster.

Even FOX’s anchor Wallace has seen the disaster of the evening…..

It’s “soul-searching” time for Chris Wallace. The Fox News Sunday anchor admits he struggled to moderate last night’s presidential debate—a contentious affair that one pundit called “two old men shouting at each other”—but he isn’t apologizing or taking all the blame. “I’ve read some of the reviews. I know people think, well, gee, I didn’t jump in soon enough,” Wallace tells the New York Times in a voice still hoarse from the debate. “I guess I didn’t realize—and there was no way you could, hindsight being 20/20—that this was going to be the president’s strategy, not just for the beginning of the debate but the entire debate.” For more:

  • “I thought this was great—this is a debate!” Wallace says of the moment when President Trump first spoke straight to Joe Biden. But as Trump kept interrupting, Wallace got worried. Then came “desperation.” He says he “never dreamt that it would go off the tracks the way it did.”
  • “You’re reluctant—as somebody who has said from the very beginning that I wanted to be as invisible as possible, and to enable them to talk—to rise to the point at which you begin to interject more and more. First to say, ‘Please don’t interrupt,’ then ‘Please obey the rules,’ and third, ‘This isn’t serving the country well.'”
  • Should the president’s microphone be cut off he interrupts next time? “People have to remember, and too many people forget, both of these candidates have the support of tens of millions of Americans.”
  • “Generally speaking, I did as well as I could, so I don’t have any second thoughts there. I’m just disappointed with the results.”
  • “To quote the president, ‘It is what it is.'”

The entire paid punditry told whoever would listen that changes should be made to the format and mechanisms of the debate process……and the debate officials were shamed into making the changes that the pundits want……

After the chaos in Cleveland Tuesday night, some Democrats have been calling for Joe Biden to skip the next two debates with President Trump, who ignored moderator Chris Wallace’s pleas to stick to the agreed-upon rules and stop interrupting his opponent. But Biden’s campaign says he’s definitely going to show up in Miami and Nashville—and the Commission on Presidential Debates says there will be some changes. In a statement Wednesday, the CPD said the Tuesday debate made it clear that “additional structure” should be added to the remaining debate to “ensure a more orderly discussion.” The commission thanked Wallace for the “professionalism and skill” he brought to the debate.

The debate commission said it is “carefully considering” the changes and will announce them soon. Kate Bedingfield, Biden’s deputy campaign manager, said Tuesday night that Biden will definitely be at the Oct. 15 debate in Miami, the Tampa Bay Times reports. In that debate, the candidates will take questions from voters, and Bedingfield said it will be up to Trump whether he wants to repeat his “unhinged meltdown.” Trump campaign communications director Tim Murtaugh slammed the nonpartisan commission, saying it was only looking at changes “because their guy got pummeled last night.” He accused Biden of “trying to work the refs,” adding: “They shouldn’t be moving the goalposts and changing the rules in the middle of the game.”

Seriously?  Do these self-absorbed d/bags really think that Trump will follow the rules?  He did not in the first debate why would he play nice in the second and third?

It always amazes me just how naive these political pros can be.

My thought on the popular idea of a kill switch will play into the hands of Trump and his minions…..they can use it to prove that the news is corrupt and out to get Donald the Orange.  I agree with whoever said that the remaining debates should be canceled because nothing more can be learned….the viewer has seen all they need to know about Trump and his “style”…..

No one will listen to this lonely blogger and the change will be made and the news cycle will have their few days of story lines to keep them in beans.

I close with Weird Al’s look at the debate….

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

The Iron Triangle

This could be that area of South Vietnam during that war……

The heavily forested Cu Chi and Iron Triangle jungles were frequently... |  Download Scientific Diagram

…..but it is not for no one gives a shit about that war anymore…..nor the Iron Triangle from the Korean War.

The Iron Triangle I am talking about in this post is a political or should I say a bureaucratic one.

I recent tried to inform my readers about the government contract process……https://lobotero.com/2020/09/29/those-government-contracts/

And that lead me to this particular part of our federal bureaucracy….the Iron Triangle.

But first a few words about the institution we called bureaucracy…..

Red tape. Paper pushers. Bean counters. Vast, cookie-cutter buildings with fluorescent lighting and thousands of file cabinets.

These are the images that come to mind when many Americans think of government bureaucracy. A bureaucrat is someone who works in administrative capacity for the government. How important are bureaucrats and their government agencies in actually running the United States government? According to some, they are the real government — the ones behind the scenes who go to work when the politicians are enjoying the spotlight.

Max Weber, a German sociologist was one of the first people in modern times to think seriously about the importance of bureaucracy. The term actually comes from the French word “bureau,” a reference to the small desks that the king’s representatives set up in towns as they traveled across the country on king’s business. So bureaucracy literally means “government with a small desk.”

https://www.ushistory.org/gov/8.asp

Now on to the Iron Triangle…..

Iron Triangle Examples

The term “iron triangle” is a term used to describe the dynamics of policy-making between special interest groups, Congress and governmental agencies. The interrelationship between these three factions can create a self-sufficient (and sometimes corrupt) sub governmental situation in which American citizens’ best interests are ignored in favor of receiving special favors and regulation changes for passing particular legislation.

Other times, special interest groups (SIGs) like the National Association for the Advancement of Colored People (NAACP) will lobby to have meaningful laws passed that protect a certain group of people. Let’s take a look at the good and the bad with the following iron triangle examples.

Special interest groups are a key element in the iron triangle because they can create a governmental situation in which their lobbyists have an undue influence on government.

Another corner of the iron triangle is Congress. Congress exchanges “friendly legislation” to interest groups as well as bureaucrats and governmental agencies in order to gain their support in elections.

Anyone that has studied Civics, you know that dying subject that few care about, they would understand what the “Triangle” represents.

The Iron Triangle

The Iron Triangle is responsible for the stalemate in Congress…if the legislation does not benefit them then they throw cash at select Congresspeople and bring any progress to a halt.

The Iron Triangle needs to be dismembered once and for all…never to return to hold the nation captive.

Just A Thought!

I Read, I Write, You Know

“lego ergo scribo”

How To Solve The Iran Problem

Trump and his minions have entered into even more sanctions on Iran….

The exact wording is still being worked on, but the Trump Administration is preparing to introduce a new round of sanctions against Iran in general, and its financial sector in particular. The goal an executive order from Trump imposing these before the election.

Again, how it works isn’t yet confirmed, but the idea is to prevent every last avenue of legal financial exchange for Iran. Since this is already effectively the case with existing sanctions, the changes are likely to be minor.

These new restrictions will be presented as closing “loopholes,” and some officials are saying that the real goal is to prevent Joe Biden, if he wins the election, from easily reversing the sanctions and returning the US to the nuclear deal.

Right now, the US has blacklisted more or less all of Iran’s international banks, and this will add the country’s last 14 banks to the blacklist. The sanctions will also target money-changers and hawala transfer systems. Anywhere money changes hands, the US will try to stop it.

(antiwar.com)

This is not making the situation less volatile….if anything it is giving our geopolitical opponents, Russia and China, an opening that they will exploit.

Trump has made a mess of the Iranian thing…..but could Biden do any better?

We will know only if he wins in November but there are ways if he is elected that he could cool the simmering pot.

The solution to the crisis is simple: come back into compliance with the Iran nuclear agreement and related United Nations Security Council resolutions, then work with our allies to build upon them, addressing through diplomacy our other disagreements with Iran.

Implementing this simple solution, however, will be difficult. Even with a new Biden approach, Iran may not agree, regional powers will try to sabotage him, domestic opponents aligned with these foreign governments will attack him, and the window for action will be short.

Unlike other Middle East dilemmas, such as the Israeli-Palestinian conflict or the Saudi war on Yemen, a solution was in place before Trump assumed the presidency. The Iran accord, known as the Joint Comprehensive Plan of Action, is the strongest non-proliferation agreement in history. Worked out by seven nations plus the European Union and unanimously approved by the U.N. Security Council, this agreement shrank Iran’s nuclear program to a fraction of its previous size, froze it for a generation, and imposed the most intrusive inspection regime ever negotiated. It provides the basis for additional agreements that could address Iran’s other troubling actions and rebalanced U.S. regional relations.

How Joe Biden can solve the Iran crisis

Diplomacy could be the savior of the situation.  But then ask will Israel allow it to move forward?  Israel needs a belligerent Iran for the government to hold its position of power.

The only way this situation will calm down is if someone besides Trump is president in 2021.

Learn Stuff!

VOTE!

I read, I Write, You Know

“lego ergo scribo”