Category: Economics

The Great God–Greed

+++Note:  I need to be at the hospital for my procedures at 0645….so this will be my only offering for today as I will probably be in a shitty mood when I get home….thanx for understanding.+++

Since the late 70s early 80s the country has had an emerging new god on the horizon…..greed.

It is steadily gotten worse year by year and then we elected the spokesman for greed…..DJ Trump….but even with is insatiable appetite for money he has only made the tech bros the lead on greed.

I am talking about people like Bezos, Zuckerberg, Musk, et al….

Life is strange.

If you’d told me fifteen years ago that, as part of covering DC politics, I’d be reading books about space, I’d have told you to take a hike. But when Jeff Bezos bought the Washington Post, he set a chain of events in motion.

I remember the day the Washington Post’s sale was announced. It was August 2013 and I was with my friend Tony Norman at our regular falafel haunt on U Street when I got an alert on my phone saying Bezos had just bought the Post for $250 million. “What?” Tony said when I broke the news to him. I read it again, not believing the words either. The Graham family, which had owned the Post for decades, wasn’t known to be looking to sell its prized possession. But now they had.

And in that instant, Bezos was transformed from the billionaire founder of Amazon, into the savior of the Post, if not the entire failing media industry. I read these hot takes with steam coming out of my ears. As the child of parents who owned our local newspaper, I was keenly aware of Amazon’s role in destroying newspapers across the country — namely by bankrupting local business, which are the lifeblood of any local paper (and community). The man who may be responsible for destroying more newspapers than anyone on earth was definitely not a savior of the free press.

That much I knew. But there was a lot about Bezos that I didn’t know. And now that he owned the Post, then the all-important newspaper for local DC politics, it was time to start reading up on the man.

The first book I cracked was The Everything Store, Brad Stone’s revelatory 2013 biography of Bezos. Eight years later, Stone followed that up with Amazon Unbound, another invaluable work. More recently, I devoured Wall Street Journal reporter Dana Mattioli’s excellent 2024 book The Everything War. These books laid bare Bezos’ business practices, a good number of which are illegal, or would be if we enforced antitrust laws in this country.

But there’s another aspect to Bezos that these books didn’t quite capture — namely how he’s lost touch with reality.

Bezos truly believes that he’s going to save humanity via an intergalactic bank shot. He’s perfectly open about this, and always has been. As I wrote in a story at Truthdig last year:

https://www.counterpunch.org/2026/07/23/how-bezos-and-the-tech-bros-made-greed-godly/

The Tech Bros will save humanity?  First, from what?  Second, are you kidding?

These Tech Bros firmly believe that they are serving humanity….I do not see it….do you?

What is up with the lie that if you are poor then you are lazy?  Which conserv moron thought this piece of crap up?

I guess when you have that much money you can claim whatever you want.

I Read, I Write, You Know

“lego ergo scribo”

Fraudsters Can Run Wild

Yesterday I posted about Donny’s new thing of letting corporate bosses have instant access to his babblings of Truth Social so they can run to the markets and make money before the fact….that is disgusting but there is more disgusting stories….

The DOJ is abandoning the Corporate Crime Enforcement stuff.

US President Donald Trump’s Justice Department is systematically taking a softer approach to corporate crime, letting companies and executives that have admitted to wrongdoing off the hook with no charges.

The Wall Street Journal reported over the weekend that “so far this year, 12 companies have pleaded guilty to federal criminal charges. At least six companies have reached deferred prosecution agreements, including refiner Phillips 66 and medical-waste specialist Stericycle, acquired by Waste Management in 2024.” The Journal added that while Acting US Attorney General Todd Blanche and other officials have signaled that the Justice Department is “focusing on prosecuting employees rather than companies, it has also granted leniency or dropped charges against people it accused of wrongdoing.”

“The Trump DOJ’s grotesque retreat from corporate crime enforcement leaves Americans increasingly vulnerable to tainted food, workplace exploitation, environmental destruction, widespread ripoffs, and all-around illegal corporate predation,” said Rick Claypool, a researcher at the consumer advocacy group Public Citizen who has been tracking the fall of corporate enforcement during Trump’s second White House term—which has been rife with corruption and profiteering at the very top.

Claypool called the Trump Justice Department’s lenient approach to corporate criminals “an absolute outrage” and that the trend is “going from bad to worse.”

The Journal lays out several examples of the Justice Department abandoning enforcement efforts against prominent companies. “In matters involving Alibaba, EagleBank, and Abbott Laboratories, the department declined to charge companies even when prosecutors thought executives or managers were involved in the wrongdoing,” the newspaper reported. “In those cases, the department didn’t charge any individuals.”

https://www.commondreams.org/news/trump-corporate-crime-enforcement

This is pathetic that he would allow these pieces of shit have such freedoms…..all this sounds like his buddy Putin’s playbook in Russia for over twenty years.

Where are those elected cowards we call Democrats in all this corruption?

Well most are sitting in their offices counting the cash lobbyists throw at them….what I am saying in case you missed it….the Dems are NO better than the GOP when it comes to corruption.

I have said my piece.

I Read, I Write, You KNow

“lego ergo scribo”

“I Love Inflation”

Words uttered by our dear clueless leader when he heard the new report that inflation is at a 3 year high……

… data released by the US Bureau of Labor Statistics (BLS) on Wednesday showed overall prices in May posted a yearly increase of 4.2%, marking the highest rate of inflation since 2023. Core inflation, which excludes food and energy costs, posted a yearly increase of 2.9%, the highest rate since September 2023.

Why would any president say such bullshit when most of the country is struggling under the pressure of this number?

President Donald Trump on Wednesday said, “I love the inflation” after being asked if he was concerned about new consumer price index data that showed the annual inflation rate at 4.2%, a three-year high.

Trump, speaking with reporters in the Oval Office, also predicted that inflation is “going to come down like a rock” after the United States’ war against Iran is over.

The president linked that prediction to a confusing statement about the U.S. “taking” oil and ships.

“No, I love it, the numbers were great,” Trump said when a reporter asked him about the CPI number issued earlier in the morning by the Bureau of Labor Statistics.

“You know what I really love? I love the inflation. You know why?” Trump said. “Because as soon as this war is over, you know I can say it now … you know we’ve been taking out millions of barrels of oil.”

“Nobody knows it. You know who doesn’t know about it? Iran, until right now,” Trump said.

(cnbc.com)

Donny thinks the numbers will come down once he figures out how to end the war with Iran.  (Don’t hold your breath that could take awhile)

Trump predicted that inflation would “come down like a rock” when the war was over, CBS News reports. Trump claimed the US had reached “the best economy we’ve ever hit” before the conflict, citing record stock market highs.

So much manure spread and the worse part about it is there are those the believe this stink.

Just a reminder….“Trump promised repeatedly that he would ‘end inflation’ starting on day one but by almost every measure, he’s failed to achieve those goals,” Beyer said. “And far from lowering costs, his tariffs have only made the affordability crisis worse for the American people.”

Is his plan working?

I Read, I Write, You Know

“lego ergo scribo”

NYC Does It Again

I recently wrote about a policy that the new mayor of NYC will pursue…..city owned grocery store….personally I think it is a great idea and more cities should be so concerned.

The mayor has yet another plan for the city….this time it will help city employees with child care….

Tucked in New York City Mayor Zohran Mamdani’s sprawling universal childcare plan is a little-talked-about milestone: In September, the city will open what appears to be the first free daycare for municipal workers in the country.

The center, called The Little Apple, is a pilot program that could prove to be a model for cities across the country that are childcare curious, but not ready to take the big universal swing.

Housed in a renovated space on the first floor of the David N. Dinkins Municipal Building in Manhattan, home base for more than 2,000 city workers, the Little Apple will offer free care to the kids of full-time staff. All workers in the Department of Citywide Administrative Services (DCAS), a city government support agency, can also take advantage of it regardless of their work location.

The center will be small — just 40 seats for children ages six weeks to 3 years old. To pay for it, the city budgeted about $1.5 million, or $35,000 per child.

“This is what Wall Street could call a good investment,” Mamdani said in a press conference announcing the new center. “We know that after housing, the cost of childcare is what is pushing working families out of this city.”

DCAS Commissioner Yume Kitasei told The 19th said the solution came about as a retention strategy, responding to the needs workers shared. In surveys, workers enthusiastically embraced the idea. One worker described access to free childcare as “life-changing.”

https://znetwork.org/znetarticle/under-mamdani-new-york-will-be-first-to-open-free-childcare-center-for-city-workers/

So far this man has done just about everything he said he wanted to do….he has my vote of mayor of the year.

Right after the first of the year the mayor first major proposal was a tax plan….

A number of new taxes have been proposed this winter and spring to address the City’s structural budget gap. They range from a surcharge on high-income Personal Income Tax filers, to a partial recapture of the federal tax benefits accruing to Pass-Through Entity Tax filers, to higher rates for the City’s business income taxes, to higher real property transaction taxes on luxury properties at time of sale. One of the most likely, and possibly only, new tax revenue to be included in the FY 2027 State budget is a tax on pied-à-terre properties in New York City.

To date, details on the proposed tax have been hard to find, but Governor Hochul announced a revenue estimate of $500 million from 13,000 “second homes” with market value of at least $5 million.  The lack of further information has spurred wide-ranging conjectures regarding which properties might be subject to the tax and how much they might pay.

In this Fiscal Note we use previous pied-à-terre tax proposals to estimate potential revenues and highlight areas of uncertainty. Based on the parameters chosen for the analysis, tax revenues are critically dependent on the share of targeted properties that are rented and on the behavioral responses to the tax. We find that, before adjusting for these factors, our choice of tax rates and brackets could raise almost exactly $500 million from a little over 11,200 properties. However, revenues could be reduced to between roughly $340 million and $380 million based on assumptions on exclusions for rented units and behavioral changes following the imposition of the tax.

The Pied-à-Terre Tax and Its Potential Revenues

Another policy that meets with my acceptance….

I Read, I Write, You Know

“lego ergo scribo”

Those City-Owned Grocery Stores

Everyone knows and has felt the bite to the price of groceries….and the mayor of NYC promised to introduce city-owned stores to help bring down the cost of food….

How has it so for?

 

https://time.com/article/2026/05/21/mamdani-city-owned-grocery-stores-east-harlem-manhattan-the-bronx/

 

WE will see how well this idea works for the people of NYC….maybe it could help the rest of the country as well.

Sadly, we probably will not here much about this if it is a success but everything if it fails…..for the MSM does not want a success to become a national morn.

Any thoughts?

I Read, I Write, You Know

“lego ergo scribo”

Inflation By The Numbers

This post is no news to working families for their wallets are being hit and hit hard thanks to this dolt of a president, who by the way cares NOTHING about your lives as long as he and his butt buddy billionaires keep raping the country….but the numbers tell the tale of the tape….

Federal data released Tuesday showed US inflation rising to the highest level it’s been since May 2023, as President Donald Trump’s Iran War has led to increases in the costs of both energy and food.

The latest Consumer Price Index (CPI) released by the US Bureau of Labor Statistics finds that prices in April posted a year-over-year increase of 3.8%, above economists’ expectations of a 3.7% increase, driven by energy prices that surged nearly 18% from April 2025.

The price of groceries also notched significant increases during the month, the report notes.

“Five of the six major grocery store food group indexes increased in April,” says the report. “The index for meats, poultry, fish, and eggs increased 1.3% over the month as the index for beef rose 2.7%. The fruits and vegetables index increased 1.8% in April and the nonalcoholic beverages index rose 1.1%. The index for dairy and related products increased 0.8% over the month and the index for cereals and bakery products rose 0.1% in April.”

…

Heather Long, chief economist at Navy Federal Credit Union, observed that the cost of living in April rose above average monthly wage gains, meaning US consumers are no longer just treading water but falling behind.

“Inflation is now eating up all wage gains for the first time in about three years,” she wrote. “This is painful for Americans and a true financial squeeze.”

University of Michigan economist Justin Wolfers highlighted just how much the latest CPI report exposes the false promises President Donald Trump made during the 2024 presidential campaign.

https://www.commondreams.org/news/trump-inflation-april-cpi

I realize that this is nothing new to people that have to live on their wages….but they need to know just how bad it is and just how bad it is going to stay.

The way things are going I do not think that elections will bring any change soon…we are stuck in this cycle thanks to the ‘brilliant’ mind of a ‘stable genius’….which saying that makes me laugh at the stupidity presented as policy.

Sorry to be redundant or giving you the news you may already be aware of but seeing the numbers may make it more clear on what we can expect in the near future.

I Read, I Write, You Know

“lego ergo scribo”

Economic Inequality

The Dems should be all over this situation but instead they want to mess around with Epstein and other such nonsense none of which will improve the lives of Americans on iota.

Economic inequality should be the priority as elections start coming into view…for instance…

On Saturday, data shared by The Kobeissi Letter highlights a stark divergence in wealth growth since 1976.

According to the post on X, the real wealth of the top 0.001% of U.S. households has surged roughly 3,500% over that period.

By comparison, the top 0.01% and 0.1% saw gains of about 2,200% and 1,200%, respectively, while the average household’s wealth increased by just 200%.

The post also noted a sharp rise in ultra-wealthy households, estimating that about 430,000 U.S. households now hold at least $30 million in net worth, including roughly 74,000 worth more than $100 million.

A large share of wealth at the top is tied to financial markets. “~72% of wealth for the top 0.1% is concentrated in corporate equities, mutual funds, and private businesses,” the post said.

In contrast, lower-income households have struggled to build wealth.

“The bottom 50% of US households had more debt than assets for nearly 2 decades,” the post stated, adding that their net worth turned positive only after 2020, aided by stimulus checks and rising home values.

Summing up the trend, the post concluded: “Asset owners are the only winners.”

https://www.benzinga.com/news/politics/26/04/51903117/us-wealth-inequality-hits-record-high-as-top-0-001-gains-3500-since-1976-while-average-households-lag-at-200

Let’s be honest the plan is to pay workers as little as possible to keep the CEOs rolling in bonuses….

Janine Jackson interviewed Institute for Policy Studies’ Sarah Anderson about “successful” corporations paying poverty wages for the April 17, 2026, episode of CounterSpin. This is a lightly edited transcript.

Janine Jackson: In 2024, Forbes asked, “What Is the Secret to Walmart’s Success?” The answer:

Walmart’s strategy is boring but reliable. The foundation is provided by the scale of the business, creating the fuel necessary to maintain cost leadership.

In 2025, the Economist explained to readers “How Walmart Became a Tech Giant—and Took Over the World.” The answer, well, founder Sam Walton, a “trucker-capped, pickup-driving penny-pincher,” had a simple idea: “Keep costs low, pass savings on to customers, win market share, harness scale to further lower costs, and listen as the cash registers sing.”

Early this year, Inc. Magazine gave us “One Bold Decision Helped Make Walmart a Trillion-Dollar Company.” That story says:

Early this year, Inc. Magazine gave us “One Bold Decision Helped Make Walmart a Trillion-Dollar Company.” That story says:

Most experts see the company’s tremendous growth as a triumph of technology, including AI, and that’s certainly true. Walmart has used its heft, highly efficient warehouse network and the ubiquity of its stores as a competitive advantage.

But oho, the shocker, the big reveal, is that former CEO, Doug McMillon, “visited Walmart stores and asked the people working there what they needed. He listened to their answers and he started paying them more.”

Well, I hope you’re sitting down for this: “To begin with, every associate, as Walmart calls employees, would earn at least $9 an hour and soon move up to $10 an hour.” McMillon took home $27.4 million in 2024.

https://znetwork.org/znetarticle/its-all-about-keeping-wages-at-poverty-levels-to-overpay-their-ceos/

There you have a simple plan….give the voters something that will help make their wallets fatter and you have hit on a winner.

But instead the Dems crawl back to the high dollar donors and become their representatives not those of the people….they will be losers as long as they lay with the dollars.

You can change that but instead you had rather stand on the sideline and wish for change….and whine about your plight.

Not coming as long as you have that kind of attitude.  PERIOD!

I Read, I Write, You Know

“lego ergo scribo”

Tax Day Comes And Goes

Sorry to be a bummer but I just had to say something.

April 15th was a couple of days ago…..did you go through the agony of preparing your taxes only to learn you owed the government?

Will it be a burden on your finances?

Well do not worry for no one will take up the slack for our ‘saviors’, big business, has gotten a swell deal from the government…..did you?

Dozens of America’s most profitable corporations avoided paying any federal income taxes in 2025, according to an analysis out on Tuesday from the Institute on Taxation and Economic Policy.

The 88 companies—which include Tesla, Southwest Airlines, Live Nation, Palantir, Citigroup, and many others listed in the S&P 500—brought in a collective $105 billion in pretax income last year.

ITEP found that 2025 saw a spike in corporate tax avoidance, enabled in part by new loopholes created by the One Big Beautiful Bill Act signed by President Donald Trump and by his 2017 Tax Cuts and Jobs Act, which reduced the corporate tax rate to 21% from its previous 35%.

The One Big Beautiful Bill Act is expected to hand the wealthiest 1% of Americans $117 billion in tax cuts this year, while those in the bottom 95% are set to pay more in taxes while facing across-the-board cuts to social safety net programs like Medicaid and the Supplemental Nutrition Assistance Program.

It also allowed multimillion- and billion-dollar corporations to find new ways to avoid paying taxes. More than half of the tax-avoiders listed in the report used a provision in the new tax law allowing companies to immediately write off capital investments, reducing their collective taxes by $11.4 billion.

Pharmaceutical and tech companies, meanwhile, were able to take advantage of tax write-offs for research and development, exempting them from approximately another $4.4 billion.

In total, the corporate tax avoidance documented in 2025 by the researchers helped to rob the public coffers of yet another $26.7 billion, enough to give every public school student a free lunch for a year, according to a University of Missouri analysis of the National School Lunch Program.

https://www.alternet.org/big-beautiful-bill-taxes/

I am so proud of this country for making the hard working public pay all the goddamn bills while the robber barons sit on their fat asses smiling like that fat cat from Alice in Wonderland.

I am starting to like this NYC mayor more4 these days……he sees what I see….I wish others did…..

New York City Mayor Zohran Mamdani is using Tax Day to remind Americans that the nation’s tax code is “rigged” to protect the superrich while making the case for a more equitable system.

In a Guardian op-ed co-written with Nobel laureate in economics Joseph Stiglitz and Paris School of Economics professor Gabriel Zucman, New York’s democratic socialist mayor lamented that the world is living with greater wealth inequality than ever before, with just 0.0001% of the global population holding the equivalent of 16% of global wealth—more than the bottom half of humanity.

Mamdani and the economists attributed the global surge in inequality in large part to America’s “regressive” tax system, which has grown dramatically more favorable to the wealthy over the past half-century.

Compared to 1960, when the 400 richest Americans paid roughly half their incomes in taxes, they now pay about 24%—helped by a combination of lower marginal tax rates and loopholes that allow billionaires and corporations to shield their wealth and effectively pay a smaller share of their incomes than everyone else.

https://www.commondreams.org/news/zohran-tax-day

Ain’t capitalism great?

I Read, I Write, You Know

“lego ergo scribo”