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Showing posts from January 4, 2017

Opinion: U.S. stocks riding a bull market in corruption

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[Wall Street banksters await the pay-off from their investment in the POTUS. Rally rooted in greedy hopes, not grounded fundamentals. *RON*]

Tim Mullaney, Market Watch, 4 January 2017
I’m an American, full of pride for President-elect Donald Trump and his big, big, 10% stock market rally since the election!

Now imagine my pride if that had actually happened. Or if the 5% gain in the S&P 500 SPX, +0.51% that has happened, or even the 8% climb in the narrower Dow Jones Industrial AverageDJIA, +0.25% — which has failed for the 15th day to gain the last 250 points needed to cross 20,000 — were based on fundamentals.

Today's Trumpery

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No longer ‘Mayberry’: A small Ohio city fights an epidemic of self-destruction

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[Same as the Downtown Eastside. This is where the growing divide takes us. *RON*]

By Joel Achenbach, Washington Post, 29 December 2016 
UNNATURAL CAUSES | SICK AND DYING IN SMALL-TOWN AMERICA: Since the turn of this century, death rates have risen for whites in midlife, particularly women. In this series, The Washington Post is exploring this trend and the forces driving it.

CHILLICOTHE, Ohio — Nine women live in the little house by the railroad tracks. It’s early fall, and they’re sharing three bedrooms and a single bathroom. They rise each day at 6 a.m., brush their teeth, eat breakfast together and then get into a van to ride a half-mile to all-day group therapy. At dusk they’ll be back, typically sitting on the porch, smoking cigarettes and watching the trains go by.

Cuomo vetoes bill that would have required state to fund legal services for the poor

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[Is Cuomo pulling on his wicked witch hat to gather his bona fides for a run at the next Presidential nomination? *RON*]

Kenneth Lovett, New York Daily News, 1 January 2017
ALBANY — Gov. Cuomo vetoed a bill late Saturday that would have required the state to fund legal services for the poor in each county.

Cuomo’s office in a New Year’s Eve statement released just over an hour before the bill was required to be signed or vetoed said last-minute negotiations with the Legislature to address the governor’s concerns failed to yield a deal.

The way to a better work-life balance? Unions, not self-help

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[An old story, but ain't it the truth - on the crapification of labour. "Welcome to the world of 24/7 capitalism, where some people even work in their sleep. Why are we so addicted to work, and what can we do about it?" *RON*]
Peter Fleming, The Guardian, 14 October 2016

In a fascinating account of work-addiction by Melissa Gregg, we meet Miranda, a pricing manager in a telecommunications firm.

Miranda is seriously injured in a motorcycle accident. When her husband arrives at the hospital, she is barely conscious and only able to whisper a few words. Sadly it isn’t the kids she calls for. The first thing Miranda wants is to phone the office because her presentation might not be happening tomorrow – but if they send a laptop to the emergency ward she will see what can be done to salvage the situation. This anecdote is shocking, but not that surprising.

Chew on this: Report says top CEOs to earn more by lunch than average worker in 2017

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[They pull this one out every year and it's as creepy every time... *RON*]

David Paddon, Canadian Press / Ottawa Citizen, 3 January 2017
TORONTO - Before lunchtime Tuesday, Canada's highest-paid CEOs were projected to earn as much as the average working person does all year, says a report released by a think tank that tracks executive compensation.

The Canadian Centre for Policy Alternatives estimates this year's elite group of chief executive officers will earn the average, full-time Canadian wage by 11:47 a.m. on Jan. 3, the first working day for many Canadians. Last year, it would have taken until 12:18 p.m., the report said.