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Regardless of what government, big media and banks are telling you, the business investments in United States are seriously down. Big banks took trillions of dollars of tax payers money and ran away. They are not lending that money to small businesses, which are the economic engine of our country and which create most of the jobs. How in the world, any sane person can expect an economic recovery, without extension of credit to small businesses? That is why the economic and jobs growth is so sluggish and I guarantee you that it will be so, if this problem is not fixed. Corporate bailouts on the bases of “Too big to fail” are failing, again. The whole argument behind these unconstitutional bailouts was that this was supposed to save the economy and prevent the sky from falling over us. About four years later, economy still sucks, jobs market is pathetic and their are no encouraging signs of recovery. Only results that we got out of these bailouts is that we have lot more debt, which we and our future generations will have to pay back (banks are not going to pay it), Dollar is declining, cost of living and doing business is on rise and standards of living are getting a nose dive. If you do not have a short term memory loss, this is not what we were told by corporate crook politicians and corporate owned media. They told us that it would save our economy, our country, our nation and every one of us. Well, that is not the case, so far, after nearly four years.
You are probably with me on this. But, I do not understand the logic behind the corporate bailouts and corporate welfare on tax payers money, except that the politicians and big media tell us that it is good for us. First of all their is no real legal, constitutional, ethical, economic and financial basis for it. Tax payers who paid taxes to run the government cannot be ripped off, and their money cannot be simply rewarded to multi billion dollars corporations and multi millionaire executives, who should have been in jail for the heinous crimes they committed against humanity and messed up the whole world’s economy. It is really unbelievable to me that same corporate media and politicians are now blaming the welfare system for it and are advocating austerity measures. Do they all have a total short term memory loss or they think that we are totally stupid? It is okay to spend trillions of dollars in corporate welfare but it is not okay to help the needy? What the F is that?
The other effect these bailouts created, as always, was that we retained the domination of same crooks over the banking, financial, insurance, investment and business banking, with the help of our tax payer money, who are doing the same bullshitting as they were doing before. Why? because they have no fears, as long as their well fed lobbies are alive and as long as the big media keeps playing their game. If they get in trouble, again, because of what they did, these politicians, lobbies and media will get them bailed out, just one more time . What do they have to loose? Nothing! The only losers in this game are the tax payers like you and me. But, who cares. Politicians do not care about consequences either. As long as corporate lobbies are heavily financing their election campaigns, they have nothing to fear about. Same is the case with media. As long as the corporations are doing multi million dollar advertising on big media, they can kill all the smaller and less financed competition. So, no worries. You scratch my back and I scratch yours. Together, we will keep our dominance and will keep enslaving the “people” and “voters”. If these financial institutions were not bailed out by tax payers money, while some of them would have been able to survive through regular bankruptcy and re-structuring process, many of them would have been replaced by smaller and honest competitors. That policy would have rewarded fair play and honesty, instead of criminality and fraud.
Beside the devaluation of dollar and compromised standards of living and business conditions, these banks are failing to meet their moral obligations, too. They are still not working on the most basic and advertised reason for their bailouts; saving and reviving the economy. Instead, U.S. companies keep increasing their investments in China, for example, while they are reluctant to invest in their own country. Their have been lot of uproar on outsourcing recently. Result? These companies changed their strategy. In accordance with CNN money report, “Rather than “outsourcing” their operations to China’s low-cost environment to produce cheap goods for U.S. consumers, multinational corporations are pouring billions into China to meet demand from the rapidly growing Chinese middle class. Total investments in China by U.S. multinationals were worth $49 billion as of 2009 — up 66% from two years earlier, according to U.S. Commerce Department figures.” Similarly an OECD report highlights, “For now, OECD-wide business investment remains well below the average intensity of the previous three decades”. This is what January, 2011, Economics And Statistics Administration, United States Department Of Commerce report mentioned, “The bottom line is that January’s data on durable goods orders and shipments wasn’t as strong as expected”. This June 2011 Bloomberg report stated, ” Research in Motion Ltd. (RIM), missed profit and revenue estimates”. As per U.S. Bureau of Economic Analysis, the Gross private domestic Investments were 1,589 Billions in 2009, as compared to 2,327 billions in 2006. Net Private Domestic Investment was only 56 billions in 2009, while it was 936 billions in 2006. Fixed investment in 2009 was 1716 billions, which were 2267 billions in 2006. Net fixed investments in 209 were only 181 billions, down from 876 billions in 2006. Nonresidential investments were 1665 billions in 2008, which came down to 1364 billions in 2009.
This must make it absolutely clear that we cannot have a real and powerful recovery, just by handing over trillions of dollars to big banks and corporations. Real recovery requires better cash flow to small businesses. This is the only way to create new jobs and stronger consumer demand.
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