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Showing posts with label Federal Reserve System. Show all posts
Showing posts with label Federal Reserve System. Show all posts

Monday, October 03, 2011

Koch Crimes and Tea Party Chumps

Greenpeace blimp protests Koch-funded rally
We got a preview of how damaging an upcoming Bloomberg Markets magazine story on the Koch brothers would be last week. Salon's Justin Elliott reported that "an anonymous person or persons in the orbit of the billionaire conservative donors Charles and David Koch try to discredit a forthcoming story in Bloomberg Markets magazine."

"Based on the prebuttal items appearing this week in the Washington Examiner, the Daily Caller, and U.S. News and World Report," he continued, "the Bloomberg story focuses on alleged malfeasance and/or fraud and/or bad behavior by the conglomerate Koch Industries."

That's right, prebuttals. They want to discredit the story before it ever even hits the newsstands. But this weekend, Bloomberg put up what Politico calls an "early glance" of the article up on their website and what's there is explosive. And detailed.

There's plenty there; illicit business dealings with Iran, bribery in Africa, India, and the Middle East, firing the company's internal investigators for not turning blind eyes to obvious wrongdoing ("They didn't know what to do with me," says one. "They were really kind of baffled that I had ethics"), and general corporate culture of lawlessness and corruption. If you want an idea of what the perfect corporate climate would be for the Koch brothers and the Tea Party, look no further. Just imagine nearly everything they're already doing, only made legal.

Monday, January 31, 2011

No, the Government Doesn't "Just Print Money"

Printing moneyIt's not often that I blog about a letter to the editor in my local paper. Generally, one person's misinformed opinion isn't worth worrying about. But sometimes, the opinion expressed is so wrong, yet so widespread, that it must be addressed. I'll quote the whole thing here, so you can get the full impact.

Wisconsin State Journal:

It amazes me how supposedly intelligent folks can claim that the stimulus, bailout, bribery money is an actual benefit to those receiving it. You read about brain drain out of Wisconsin when it comes to jobs, but what about brain drain when it comes to intellect?

It's not hard to understand the simple concept of currency value. Print more money and the existing money becomes worth less. Print even more and it continues to drop. At some point it will become worthless. Read about Germany's Weimar government of the 1920s to get a glimpse of what it could be like here.