Wednesday, February 22, 2012
The biggest LLC checks to Restore Our Future in January came from entities close to one industry: short-term lenders.
It's interesting that it takes a discussion about campaign finance to finally begin a discussion about predatory lending. As the rich and the poor choose up sides in our political system and invest their best efforts aligning sympathy from those who are neither rich nor poor one simple fact gets easily lost in the noise. Being poor is expensive. It's often said "it takes money to make money". Just as true is a similar slogan. "It costs money to need money" Between the lack of credit and the lack of transportation, not having a leg-up in life ends up being a chronic condition. Of course the reason this sees little discussion is that it interferes with the notion that the poor are just parasites who deserve their fate. At the end of the day though, any business model that relies on the ignorance of its customers is NOT an example of normal Capitalism at work.
Thursday, February 16, 2012
While everyone goes back and forth arguing over what a recession is, it obscures an important point. We are not in a recession and haven't been for a long time. Corporate profits are quite healthy. Productivity is healthy. The stock market is healthy. What isn't healthy is the job market. The irony then is the fact that we can lay the blame for our current morass on one place and one place only. The Job Creators®. For a bunch of folks who insist that the government can do no right, the current crop of Republicans are sure spending a lot of time blaming the Government for a situation that's directly under the control of the private sector. But as I've said before, when you're a purchaser of labor, high unemployment is a feature, not a bug.