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mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

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 Post subject: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 02 Dec 2008, 10:31 am 
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Posts: 731
It's a depression
By HELEN THOMAS
HEARST NEWSPAPERS
Last updated November 28, 2008 5:32 p.m. PT

ImageImage

Source:
http://seattlepi.nwsource.com/opinion/389882_helenonline29.html

WASHINGTON -- Few prominent economists will say it, but to me it looks & feels like we are in another Great Depression or a reasonable facsimile.

The current meltdown is dubbed a "financial crisis." But a rose by any other name would still inflict the same hardship and suffering on most people & businesses.

Clearly, the lessons have not been learned from the Herbert Hoover era. Nobel Prize-winning economist Paul Krugman, a columnist for The New York Times, says the current banking crisis is "functionally similar to that of the Great Depression."

"Many of the symptoms" are the same, including the impotence of monetary policy -- like cuts in interest rates -- that has not halted the economic downturn.

Typically, the current Republican administration has acted first to bail out the collapsed financial industry, with few strings attached. Belatedly, the government now has come up with an ($700 plus now) $800 billion program for hard-pressed average Americans to make it easier to get loans for homes, cars & education or borrow through credit cards.

The moves evoke the old quip on Capitol Hill: "A billion here & a billion there & pretty soon you are talking about real money."

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The big three auto-makers -- on the verge of collapse -- won little or no sympathy from the nation's lawmakers in a recent appearance before Congress. They will be back again next week to make their appeal along with some representatives of the United Auto Workers union.

Thousands of workers at auto-assembly plants in Michigan & at car-parts suppliers in the Midwest are losing their jobs. No one is predicting a quick turn around from Detroit's 9 percent unemployment rate.

Former Energy Secretary Spencer Abraham, a former Republican senator from Michigan, said in a New York Times opinion column that allowing the auto industry to go into bankruptcy would be a "disastrous course." Thousands of Americans would be forced on "the rolls of Medicare & Medicaid, costing billions of dollars," he said.

President-elect Barack Obama has promised a "strong Wall Street & a strong Main Street" if his multi-billion-dollar stimulus package is adopted after he takes office on Jan. 20. In a radio address last Saturday he promised the creation of 2.5 million new jobs, following Franklin D. Roosevelt's recovery blueprint for needed public works projects.

After speaking by phone to President Bush on Monday, Obama told a news conference: "We have to do everything we can to keep the financial industry working."

He also named his economic policy team, many of them familiar from the Clinton era, which prompts the question: Where is the change that Obama promised in his presidential campaign?

It's all going to get worse, according to the experts. We have had recessions before but nothing like this, with massive layoffs, hundreds of foreclosures, retail stores closing, stock market losses, & widespread fears about the future.

I grant you I have yet to see former wealthy men selling apples on the street corner as I did during the Great Depression in the early 1930s but the current uncertainty is cause for worry.

And the outlook for a return of consumer trust in the market is bleak at this time.

Obama told reporters: "The truth is, we don't have a minute to waste. With our economy in distress, we cannot hesitate & we cannot delay. Our families cannot keep on waiting & hoping for a solution."

MSNote: Mr Obama ignored MPE solution or the gate keepers did not let him know about it, one of the two

Obama will have the customary honeymoon & some political running room, at least at the start. But he has to move fast to restore confidence in the market place & trust in the banking system.

MSNote: The trust in the banking system will be restored after inflation, deflation & industrial business cycles are removed from the economic equation just to start with..

His heady presidential campaign is over but prosperity is not just around the corner.
Helen Thomas is a columnist for Hearst Newspapers.

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Helen Thomas & George W. Bush
E-mail: helent@hearstdc.com. Copyright 2008 Hearst Newspapers.

Source:
http://seattlepi.nwsource.com/opinion/389882_helenonline29.html

Tuesday, December 2 2008 @ 6:39 PM EST
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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 02 Dec 2008, 4:37 pm 
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Quote:
Obama will have the customary honeymoon & some political running room, at least at the start. But he has to move fast to restore confidence in the market place & trust in the banking system.


How can we gain confidence in a system that is constantly manipulated, has no transparency and is rot with cronyism?




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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 12 Dec 2008, 12:04 am 
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"Moving fast" won't be enough to restore ignorance toward the banking system so long as I live to expose him.

You know, if 20 years ago someone told us that "they" wouldn't even declare a *recession* after *years* of 10,000 homes a month going into foreclosure... we wouldn't believe such culls could possibly hold onto the reigns of power.




mike


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"When the freedom they wished for most was the freedom from responsibility, then Athens ceased to be free, and never was free again."



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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 15 Dec 2008, 1:10 am 
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Joined: 29 Jan 2008, 6:06 pm
Posts: 731
Back in July of 2003 there was a Feature in Financial Times.
"CEO:(n) greedy liar with personality disorder" by Micheal Skapinker.
It looks that the link to the original post is not there, but I have a original page from that Financial Time - Wednesday, Jul 2 2003.

Quote:
:Top executives pay is out of control & the professors identify a way it got like that: greater disclosure" M.Skapineker/FT/Wed/July/02/2003/Page#8/Features/
emial:micheal.skapinker@ft.com
http://www.aomonline.org


Why I am bringing this up?
If the CEO of a company is an ultimate-decision-maker then it would not be unjust to state that the Central Banking System, i.e., CBS, is like the CEO of the global economy, & five percent of them are 'sociopaths' leading the rest of blindfolded population. WOW!

So let's update the title to today's global financial debacle realities.
CBS: (n) greedy liar with personality disorder creating & inflating bubbles, recessions, depressions, & an alphabet list of other socio-economic problems just to begin with, etc

This is the real hard copy article with the link to the source with an example of how to do a search!
Quote:
CEO: (n) Greedy liar with personality disorder
By Michael Skapnker, http://www.FT.com
Published: July 01, 2003

Top executives are liars. They are overpaid. They cannot be trusted to pay their workers' pensions. And a fair proportion are sociopaths.

The first three charges come from the British public. According to an opinion poll published in the FT this week, only 11 per cent of people think company directors tell the truth. Almost 80 per cent think directors are paid too much and only 25 per cent believe companies can be trusted to honour their pension commitments.

These are dismal figures. But the fourth charge, that a good number of chief executives are sociopaths, is even more damning because it comes from a group that corporate leaders could once have regarded as friends: six senior US business school professors.

The professors' round table discussion, organised by the Academy of Management, had as its subject "What should be done about CEO pay?".* These professors have spent their working lives teaching top executives, chatting to them and addressing conferences with them. Yet what is striking is the professors' apparent perception that chief executives have turned into beings they no longer recognise. Rather than business school teachers, the professors come across as zoologists contemplating the hunting, feeding (but, thankfully, not mating) habits of a rare and rapacious species.

Take the "sociopath" allegation. The professors refer to research suggesting that if you fill a room with 100 members of any profession - priests, plumbers or chief executives - five will be sociopaths. Margarethe Wiersema, professor of strategic management at the University of California, Irvine, argues that the recent behaviour of chief executives suggests the proportion who are sociopaths has risen above the usual level.

MSNOTE: So, 5% of sociopaths took over 95% of the population, WOW!

This is serious stuff. A sociopath is not just someone with an aggressive and unpleasant manner. The Shorter Oxford Dictionary defines a sociopath as "a person with a personality disorder manifesting itself in extreme antisocial attitudes and behaviour". What have chief executives done to deserve this label? The professors focus particularly on what they see as corporate leaders' lack of shame. Like the British public, the American professors think chief executives are ludicrously overpaid. In 1970, the average US chief executive's total remuneration was just over 25 times that of the average worker. By 2000, it was 600 times as much. Today, even after falling share prices have slashed the value of their options, chief executives still earn 360 times as much as the average worker.[MSNOTE: this is July 2003 figure]

Worse, chief executives do not seem to care. Donald Hambrick, of Pennsylvania State University, asks: "Isn't there some element of shame or social sanction that should persuade them to rein themselves in? Well, apparently not."

Luis Gomez-Mejia of Arizona State University says chief executives "are not constrained by common ethical norms" & speculates that they have "a different sense of fairness from that of the person in the street". Donning his zoologist's spectacles, Prof Gomez-Mejia confesses: "In reality, we know little about CEO motives."

To anyone whose job involves regular contact with chief executives, this seems silly. In the flesh, chief executives are little different from the rest of us. Most are personable - and very bright. (They would not have got where they are if they were not.) Whatever the opinion polls say, few are compulsive liars. And in spite of recent corporate scandals, even fewer are out-&-out crooks.

So what has gone wrong? Those scandals have taken their toll, as has fraudulent investment banking research. But nothing has soured the atmosphere as much as the perception that top executives get rich no matter how badly everyone else does.

Top executive pay is out of control and the professors identify one of the ways it got that way: greater disclosure. Shareholders are entitled to know what chief executives earn; in a democratic society, the more information the better.

Yet disclosure has had an unforeseen consequence. The moment remuneration becomes public, chief executives' pay begins to rise. Why? Because no chief executive can be seen to earn less than average. If he or she does, it implies that the company has a below-average leader. If that is true, the company had better sweeten the pay package or find a new leader, one of above-average ability with a remuneration package to match.

New chief executives make other demands: such as long notice periods, perhaps three years. The board may regard this as excessive but - look at the published data - it is what everyone else gets. When the company continues to languish, the "above average" chief executive departs with a massive pay-off in lieu of that three years' notice.

Employees, calculating that this "payment for failure" is several times their expected lifetime earnings, & worried sick about the security of their pensions, understandably come to see chief executives as a gang of looters.

As for shame, the over-remunerated chief executives may suffer some private embarrassment but why should they express any public remorse over their riches? They are simply getting the rate for the job.

There is little point expecting chief executives to remedy the situation themselves. Nor can any one board act alone. If it does, its top executives will be vulnerable to poaching by less fastidious companies.

Only collective action, by governments, regulators & shareholders, will work. As the professors observe, requiring companies to account for share options on their profit & loss accounts will make boards think harder about how many options they hand out.

And when shareholders act together, as they have in the UK, they can force companies to cut top executives' notice periods to 12 months. Chief executives may find this medicine difficult to swallow, but the more perceptive will understand that it is for their own good.
* http://www.aomonline.org
michael.skapinker@ft.com
Source:
http://search.ft.com/ftArticle?queryText=CEO%3A+(n)+greedy+liar+with+personality+disorder+&y=7&aje=true&x=16&id=030701005453&ct=0




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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 15 Dec 2008, 1:17 pm 
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Posts: 492
Mario,

You must have a lot of old stuff on hand. Good article to resurface amongst present events. It's time for us to realize that the problem isn't that these guys "make money" no matter how badly they manage "the economy" or purported services/industries which only take. It's time to realize that was the very purpose from the beginning; and that the only way *we* can fix this is to rule them out of the equation. So thanks for the reminder!




mike


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"When the freedom they wished for most was the freedom from responsibility, then Athens ceased to be free, and never was free again."



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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 18 Dec 2008, 12:35 pm 
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Yeahoo! Warming up the gears!
I highly recommend the author of this article.




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 Post subject: Re: Now It's Official - It's A Depression by Helen Thomas
PostPosted: 18 Dec 2008, 3:44 pm 
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Joined: 24 Jan 2008, 8:33 pm
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I hope you have the time to post the other matter you wrote me about — criminal prosecution.




mike


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"When the freedom they wished for most was the freedom from responsibility, then Athens ceased to be free, and never was free again."



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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.



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