Who was left relatively untouched by the recent economic crisis? While you ponder the question lets roll back the clock. From the day that my father said to me "Harry, follow the money and you will know the truth", thats what I have been doing. The search has been fascinating, to say the least, and of course we are still far from an objective truth. However, when one watches and probes, certain things seem to stand out. Through every economic crisis (At least the documented ones), big business (BB) seems to survive unscathed.
A short lesson in economic philosophy. Ninety (90) percent of the wealth on the planet is owned by 10% of the people. If we take all the wealth and divide it out equally amongst the people, after a certain period of time, 10% will own 90% of the wealth. Who are these 10 percenters? I guarantee you that the president of the US is not one of them. He is just the vehicle. And if he does not drive in the right direction he can pack his bags. Ask Jimmy Carter visa vie his attempt to regulate US oil companies. Barak Obama found out the hard way. Health Care before the economy....big mistake. But he's learning. Just lately I see Obama and BB have become long lost brothers!
At the end of World War 2, the US loaned Europe billions of dollars (in those days it was a lot of money) in order to rebuild, using the theory that if you got them by the balls, their hearts will follow their minds (excuse the french). Capitalism at its best. Who benifited? The people and of course big business (BB). As the decades rolled by The US became the engine of world economic growth. US consumption fuelled the world. At some point, this hunger turned to gluttony and the financing turned into debt. As saturation point neared (how many TV sets can one sell?), what to do? 300 million americans can only buy so much. Answer...create new markets for BB. China and India in Asia, Brazil in South America, South Africa in Africa and Israel in the Middle East. What do you think, the Oslo accords were the brainchild of left wing mumbo jumbo? All new engines to create markets. Except for 1.3 billion muslims, the rest of the world are in the loop.
So who are BB? The Dow Jones Global Titans 50 index has a market capitilization of 7.3 trillion dollars. In comparison GDP for China in 2010 was 5.7 Trillion. The S&P 500 has a market capitilization of $10.1 trillion. Walmart had sales of $408 billion in 2010. The total GDP for Iran in this period was $338 billion. Not the most accurate comparison, but you get the idea.
The big American Banks received a windfall from the administration. Over a trillion dollars of cheap loans to the banks in "in order to give loans to small business". Drat! I cannot get this tongue out of my cheek! The banks used these funds to purchase higher interest yielding US treasury bills and pocketed the difference. And now the big bonuses are back! Go figure....
Some of the largest companies in the world are based in the US. They are economic units whose loyalty is to their shareholders and only to their shareholders. They don't give a damn about middle America unless they can profit from it. General Motors sells more cars in China than in the US. They have moved their magnets division to China in order access China's rare earth stockpile. In fact they sold a US based rare earth production facility (Magnequench) to China, and in 2004 the Chinese shipped the whole company, lock, stock, barrel and technology to China. Today we see General Electric and Boeing selling product and technology to the Chinese. And the list goes on and on. The WSJ is now questioning how the Chinese acquired the stealth technology for their air force. So while Obama entertains Hu at the White House, its business as usual for BB.
A conspiracy? Perish the thought! But something to think about....
Everything is relative according according to Albert Einstein ""If I am proved correct," he said, "the Germans will call me a German, the Swiss will call me a Swiss Citizen, and the French will call me a great scientist. If relativity is proved wrong, the French will call me Swiss, the Swiss will call me a German, and the Germans will call me a Jew.
H
A short lesson in economic philosophy. Ninety (90) percent of the wealth on the planet is owned by 10% of the people. If we take all the wealth and divide it out equally amongst the people, after a certain period of time, 10% will own 90% of the wealth. Who are these 10 percenters? I guarantee you that the president of the US is not one of them. He is just the vehicle. And if he does not drive in the right direction he can pack his bags. Ask Jimmy Carter visa vie his attempt to regulate US oil companies. Barak Obama found out the hard way. Health Care before the economy....big mistake. But he's learning. Just lately I see Obama and BB have become long lost brothers!
At the end of World War 2, the US loaned Europe billions of dollars (in those days it was a lot of money) in order to rebuild, using the theory that if you got them by the balls, their hearts will follow their minds (excuse the french). Capitalism at its best. Who benifited? The people and of course big business (BB). As the decades rolled by The US became the engine of world economic growth. US consumption fuelled the world. At some point, this hunger turned to gluttony and the financing turned into debt. As saturation point neared (how many TV sets can one sell?), what to do? 300 million americans can only buy so much. Answer...create new markets for BB. China and India in Asia, Brazil in South America, South Africa in Africa and Israel in the Middle East. What do you think, the Oslo accords were the brainchild of left wing mumbo jumbo? All new engines to create markets. Except for 1.3 billion muslims, the rest of the world are in the loop.
So who are BB? The Dow Jones Global Titans 50 index has a market capitilization of 7.3 trillion dollars. In comparison GDP for China in 2010 was 5.7 Trillion. The S&P 500 has a market capitilization of $10.1 trillion. Walmart had sales of $408 billion in 2010. The total GDP for Iran in this period was $338 billion. Not the most accurate comparison, but you get the idea.
The big American Banks received a windfall from the administration. Over a trillion dollars of cheap loans to the banks in "in order to give loans to small business". Drat! I cannot get this tongue out of my cheek! The banks used these funds to purchase higher interest yielding US treasury bills and pocketed the difference. And now the big bonuses are back! Go figure....
Some of the largest companies in the world are based in the US. They are economic units whose loyalty is to their shareholders and only to their shareholders. They don't give a damn about middle America unless they can profit from it. General Motors sells more cars in China than in the US. They have moved their magnets division to China in order access China's rare earth stockpile. In fact they sold a US based rare earth production facility (Magnequench) to China, and in 2004 the Chinese shipped the whole company, lock, stock, barrel and technology to China. Today we see General Electric and Boeing selling product and technology to the Chinese. And the list goes on and on. The WSJ is now questioning how the Chinese acquired the stealth technology for their air force. So while Obama entertains Hu at the White House, its business as usual for BB.
A conspiracy? Perish the thought! But something to think about....
Everything is relative according according to Albert Einstein ""If I am proved correct," he said, "the Germans will call me a German, the Swiss will call me a Swiss Citizen, and the French will call me a great scientist. If relativity is proved wrong, the French will call me Swiss, the Swiss will call me a German, and the Germans will call me a Jew.
H
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