Archive for the ‘Economy’ Category

Till the Euro do us part

November 20, 2011

How plentiful brothers are when you count them

But they are, in time of crisis, very few

                                                    Alsamaw’al, 6th century Arabic poet

When you’re rich and powerful, everyone wants to be your friend. Not so in a time of crisis.  That is exactly what is happening now across the pond in the Euro zone.

Many nations enjoyed being in the euro zone in fair winds. I remember traveling across Europe a few years back. Excitement was in the air. For many nations, getting into the Euro zone was like a ticket to paradise. It was like selling indulgences all over again in Europe; only on behalf of a different God this time around!

 Now that the ominous storm is gathering strength, those nations are scrambling to find a way out. They discovered nationalism all over again. Home sweet home indeed! 

And by the way, Turkey must be  having a (well deserved) Schadenfreude moment.  Its economy is booming and they look in a pretty good shape on many fronts. The European bigots (elites and otherwise) that  denied Turkey a membership in the Euro zone because of its muslim heritage did Turkey a favor, after all.  Bigotry pays, doesn’t it!

ekwaysan

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Kick the Pharisees out of the temple

October 19, 2011

They have literally bought the White House and the Congress.

They have turned what used to be a representative democracy into a bazar.

 They have given bank robbery a whole new meaning, and they have robbed every one of us, literally.

Lets kick those pharisees out of the temple.

Long live “Occupy Wall Street” movement!

ekwaysan

 

 

This is my slogan for the “Occupy Wall Street” movement.

 

Epitaph for American democarcy

July 28, 2011

It is now official. Big banks own the Democratic party and big oil and coal companies own the Republican party. The rest of us  are just a token.

In the absence of a third party, why even vote?

Hundreds of billions of dollars of tax payers’  money were spent to make the banks whole; the very banks whose greed and trickery have caused this near-depression anyway. And now to balance the budget, our elected officials ( big-money representatives) in Washington are saying working people should suffer more for the sins of their masters. And so in their infinite wisdom, they’re cutting social security, medicare, and Medicaid!

 Don’t forget also they’re cutting taxes for big oil, big banks, and millionaires and billionaires.

We’re getting screwed  on this seesaw back and forth.

For how long are we going to keep going to the polls and vote into office smooth talking politicians, owned by big money, and expect different results? Isn’t that the definition Einstein gave for stupidity?

Two-tier justice system

July 18, 2011

” What had destroyed nations before you was that when the powerful stole they let him go and when the weak stole they punished him”

                                             Imam Ali, a seventh Century Arabic leader

It is ominous when justice starts seeing with one eye. 

Millions of people lost their homes, their retirement funds, and their jobs, not to mention their dignity. New generations are going to be saddled with debts for the rest of their lives.

How many bankers, who  every one agrees caused this economic meltdown, got charged of fraud or wrongdoing of any kind, let alone convicted ? Answer: Zero!

In fact, federal officials are encouraging states prosecutors not to press charges against any banker. Rather, they’re pushing for settlements. A grand total of $30 billion  when they had swindled families across the globe out of trillions of dollars, not to mention the tremendous suffering toll.

ekwaysan

Town without “Borders”

April 25, 2011

There is something missing when we go for a night out in town these days.

The crowd looks as lively and animated as ever, mind you,  but the mood in the big open strip mall feels somber. Stores are still vibrant, especially the “pay-day loan” stores that are sprawling faster than the speed of the sinking economy.

But somehow I feel I am in a barren land.

No longer can I sip my cup of brewed beans and wonder about the mysteries of the universe and its inhabitants while curled with a book in the cozy leather chair.

No longer can the  vibe of the music from a new  prophet  lift my soul to new heights and luscious sights. 

No longer do I meet the lit eyes of a crowd hungry for a piece of knowledge about one thing or another or watch the joy in the eyes of  kids getting their first taste of the nectar flowing from fairy tales in garden of books.

Atlas has shrugged….  Borders has closed its doors in this town. And it feels like a forced break up with a soul mate.

ekwaysan

Connect the dots: The free market canard

March 30, 2011

There is a place where light can not make it through and it is not a black hole in outer space. It is the space between our business leaders and our government.

Fact 1: GE is the single largest company in the US.

Fact 2: GE made $13.5 billion in profit last year.

Fact 3: GE didn’t pay a penny in taxes on its profit. In fact, it is asking the federal government for $3.2 billion in tax rebates!

Fact 4: Back at the end of 2008, Bloomberg reported that the U.S. government had agreed to insure an additional $139 billion in GE Capital’s debt holdings, the second such intervention within a month.

Fact 5: GE’s CEO, Jeffrey Immelt, is the head of the president’s team of economic advisors.

Fact 6: Anyone who thinks we have a free market economy is utterly blind.

Disclosure: The New York Times’ David Kocieniewski broke the GE profit story.

ekwaysan