melsjumpsite.com » economy

A Public Retirement Program Even a Republican Could Support

melt — Sat, 09 Apr 2011 07:11:22 +0000

Now here’s a grand idea for a nice public retirement program for the great masses of the USA. But I must admit that the idea comes to us from the former communist country of Georgia. Having recently embraced a no-holds-barred kind of capitalism, they have certainly taken the concept to new heights.

The story came to the wires as a simple article about a whole country being cut off from the internet, but the real story here is how a 75 year old woman makes her daily bread. Light bulb moment, maybe we could implement this program in the good ole USA. When you’re old and wore out from working the factories and sweat shops, grab a shovel and settle down to some of that easy life. Man it’s enough to make a good republican have wet dreams…

An elderly Georgian woman was scavenging for copper to sell as scrap when she accidentally sliced through an underground cable and cut off internet services to all of neighboring Armenia, it emerged on Wednesday. The woman, 75, had been digging for the metal not far from the capital Tbilisi when her spade damaged the fiber-optic cable on 28 March.

Here’s the jump: Georgian woman cuts off web access to whole of Armenia

The Rise of the Super Rich

melt — Wed, 16 Feb 2011 23:05:23 +0000

“In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data. Meanwhile, the richest 1% of Americans — those making $380,000 or more — have seen their incomes grow 33% over the last 20 years, leaving average Americans in the dust.”

No one wants to talk about that “redistribution of wealth”. And there are many experts with many explanations. Well I sure ain’t no economic expert, but I do have some words to throw at the conversation. Words that have been studied and verified since they were first postulated over 200 years ago. “For every action there is an equal and opposite reaction.” It is, therefore, not a large task to extrapolate to the words, “from extreme wealth comes extreme poverty.”

Here’s the jump de jour: How the middle class became the underclass

Mississippi Appliance Rebate Program Starts April 22

melt — Wed, 21 Apr 2010 06:49:47 +0000

Time to throw out that old clunker and get one of them thar new fangled ice box thingy’s. Thanks to a 2.8 million dollar grant from the American Recovery Act the program encourages folks to replace their old appliances with more efficient ones.

”The State of Mississippi will implement a mail-in rebate program to help residents replace old, inefficient appliances with new, ENERGY STAR® qualified appliances. The program is scheduled to begin April 22, 2010 and will continue until funds are depleted.”

Here’s the scoop on all you need to know, complete with local participating retailers:

Mississippi Energy Efficient Appliance Rebate Program

FBI knew of Mortgage Mess early as 2002

melt — Fri, 30 Jan 2009 19:22:12 +0000

The Seattle p-i is reporting that the Bush Administration went to extraordinary measures to thwart the FBI’s investigation of Financial Institutions. It is clear the agency knew the implications of such actions as evidenced by this testimony

“Based on various industry reports and FBI analysis, mortgage fraud is pervasive and growing,” Chris Swecker, then assistant director of the criminal investigation division, said in October 2004 before the House subcommittee on housing and community opportunity.

Then Swecker made a chillingly accurate prediction of the coming mortgage meltdown and financial collapse:

“The potential impact of mortgage fraud on financial institutions in the stock market is clear. If fraudulent practices become systemic within the mortgage industry and mortgage fraud is allowed to become unrestrained, it will ultimately place financial institutions at risk and have adverse effects on the stock market.”

You can read about the whole slimy mess here: FBI saw mortgage fraud early

Once mighty Nortel succumbs to times.

melt — Thu, 15 Jan 2009 04:15:21 +0000

Back when I first entered the world of computers and networks these people were practically at the top. A share of their stock would have set you back $850, today you can buy that share for 15 cents. Once the largest maker of telephone equipment in North America, the company has filed for protection from it creditors.

Probably a combination of the bad times and the further decline of the traditional telephone. Traditional telephone vendors have been subjected to the double-wammy of Internet phones and, of course, the cell phone. I haven’t had a “traditional telephone” for over 2 years now and I ain’t going back now.

Here’s the jump: Nortel files for bankruptcy, shares plunge

Review: United States National Debt

melt — Tue, 23 Sep 2008 19:16:35 +0000

One of the best graphical representations of the subject I have seen on the net. In revision since 2003, Steve McGourty, has recently updated, September 21, 2008, this good work.

Graphs include, “United States National Debt and the Presidents Responsible”, “United States National Debt 1791 to Present”, “Change in Average Revenue and Spending by Administration”, and my favorite, “United States National Debt versus Percent of Gross Domestic Product”.

Here’s the Jump: United States National Debt

Uncle Sam’s Farm

melt — Sat, 20 Sep 2008 19:46:47 +0000

The price of the big bail out is going up faster than you can say “pow zoom, straight to the moon”. Just last week they were talking about 100 billion, a few days ago they were saying 400 billion, late yesterday, and in all the morning papers, 500 billion dollars. Now it’s 700 billions dollars! Most of the reliable places say that the total price tag will be closer to 4 trillion dollars.

Bush team, Congress negotiate $700B bailout

High Oil Prices, Hallelujah Brother!

melt — Mon, 04 Aug 2008 05:09:31 +0000

For the past 50 years or so it has been economically advantageous for manufacturers to partake in some fairly wasteful ways to make their products available to the American market. Things like buying raw lumber to ship to Asia to be made into furniture and shipped back to the US to be sold. We are, by the way, the last industrialized country to still allow the exporting of raw lumber. Most countries will only allow the exporting of finished lumber goods, thereby creating many more jobs with their raw resources. In the US, lobbyists have long carried many big sacks of money to Washington to guarantee the continued export of raw lumber. I can’t believe the Lumberjack’s Union could afford such a thing.

High oil prices will bring a great decline to this practice. Phrases like “the made-here revolution”, “the neighborhood effect”, and “globalization death watch” are all propagating the net rapidly. A welcome sign of things to come? We can only hope!

Economics 101

melt — Wed, 16 Jul 2008 17:16:23 +0000

As we watch the governor and state representatives squabble over ways to pay for the 90 million dollar Medicaid shortfall, keep in mind the following:

Taxpayers in Mississippi will pay $2.6 billion for total Iraq war spending approved to date. That’s 2600 million.

Taxpayers in Mississippi will pay $529.8 million for tax cuts for the richest 10% in FY 2009.

Have a nice day folks.

Source Jump

Economy literally hits the Sewer

melt — Wed, 16 Jul 2008 16:17:32 +0000

A great metaphorical analysis of the American economic times. And, as a true sign of the American economic atmosphere, people up in Michigan are literally stealing the covers off of manholes to make a living. How do we ever expect to maintain a functioning society with deeds such as this pervading the landside?

Jump to AP story via Yahoo