Weekend Economists Bash Billionaires Behaving Badly - April 25-26

[MattSh]

I'm convinced that there are three types of billionaires. They are:

1. Those that behave badly, are proud of it, and show that off to the whole world.
2. Those that behave badly, but don't go around displaying it to the whole world.
3. Those that don't seem to behave badly, but if you look at them more closely, you'll see a well-oiled public relations campaign that he or she hides behind.

Today we celebrate bash billionaires of all types. But we won't restrict ourselves to official billionaires, oh no we won't. Any very rich person, or groupings of rich people, or special interests that fight for the interests of the rich are fair game. So, let's get started, shall we?

Let's start with a top 10 of billionaires behaving badly. This comes from an Alternet article from 2013, titled the "10 Worst People on Forbes 2013 Billionaires List. But why 2013? Elementary my dear weekenders. The top 10 rarely changes. These top 10 were likely the top 10 in 2003, and for those still living 10 years from now, will be top 10 contenders then too.

- - - - - - - - - -

10 Worst People on Forbes 2013 Billionaires List
Oligarchs and monopolists and thugs, oh my!

It will hardly come as a surprise that the rich got richer in 2013. Didn’t happen to you, did it? The combined wealth of the world's billionaires hit an all-time high of 5.4 trillion, up from 4.6 trillion in 2012.

The Forbes list of billionaires is brimming over with oligarchs, monopolists, thugs, miscreants, and hustlers. Not to mention right-wingers, narcissists, and parasitic predators. The only thing missing is the king of Mexian drug lords, Joaquin"El Chapo" Guzman, whose assets were evidently too hard to calculate this year.

Putting together a list of the worst individuals in this group is a daunting task: How to choose, for example, between telecom monopolists? The richest person in the world, Mexican mogul Carlos Slim Helu, is certainly no friend of humanity, but Silvio Berlusconi, with his special brand of Technicolor depravity, managed to edge him out. There are hundreds of garden-variety jerks to choose from, along with several dozen egregious SOBs like GoDaddy’s Bob Parsons who deserve dishonorable mention. And there should be a whole separate list of Russian oligarchs. Alas, one runs out of space and time.

While not comprehensive, here, in no particular order, are some of the biggest creeps on the 2013 roster.

(My note. These are Alternet's selections, with my comments added. To read the whole article and their comments, click the link below...)

1. The Koch brothers: Charles Koch ($34 bn), David Koch ($34 bn), William Koch ($4 bn)

Pretty damn evil stuff, they are. Believe in justice, but only if it's for "just us".

2. Rupert Murdoch ($11.2 bn)

This used to be a pretty normal country until Murdoch arrived on the scene spewing his hatred and venom.

3. Gina Rinehart ($17 bn)

Never worked a day in her life, but tells everybody else to suck it up. For her benefit.

4. The Walton family: Christy Walton and family ($28.2 bn), Jim Walton ($26.7 bn), Alice Walton ($26.3 bn), S. Robson (Rob) Walton ($26.1 bn), Anne Walton Kroenke, ($4.5 bn), Nancy Walton Laurie ($3.9 bn)

No top 10 of evil would be complete without the Walton family.

5. Sheldon Adelson ($36.5 bn)

Evil for a long time, but showing off that evil is a relatively new endevour for him.

6. Silvio Berlusconi ($6.2 bn)

Hell, you didn't think the USA had a monopoly on this sort of shit, did you? (Of course, #3 above is Aussie).

7. Carl Icahn ($20 bn)

How many have lost their jobs to this vulture?

8. Donald Trump ($3.2 bn)

The name "Trump" used to have a bit of class to it, but his true colors have been showing through for quite a few years now.

9. Peter Peterson ($1.3 bn)

Ah yes, he the driving force behind the "Catfood Commission."

10. Stephen Schwarzman ($6.5 bn)

General all around sleeze.

http://www.alternet.org/economy/10-worst-people-forbes-2013-billionaires-list

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While the 10 are pretty odious, I'd have to find room for George Soros.

Let's get today started with this blast from the past. Yeah, you knew this one was coming!

Lyrics:

Money
(Waters) 6:32

Money, get away.
Get a good job with good pay and you're okay.
Money, it's a gas.
Grab that cash with both hands and make a stash.
New car, caviar, four star daydream,
Think I'll buy me a football team.

Money, get back.
I'm all right Jack keep your hands off of my stack.
Money, it's a hit.
Don't give me that do goody good bullshit.
I'm in the high-fidelity first class traveling set
And I think I need a Lear jet.

Money, it's a crime.
Share it fairly but don't take a slice of my pie.
Money, so they say
Is the root of all evil today.
But if you ask for a raise it's no surprise that they're
giving none away.

"HuHuh! I was in the right!"
"Yes, absolutely in the right!"
"I certainly was in the right!"
"You was definitely in the right. That geezer was cruising for a
bruising!"
"Yeah!"
"Why does anyone do anything?"
"I don't know, I was really drunk at the time!"
"I was just telling him, he couldn't get into number 2. He was asking
why he wasn't coming up on freely, after I was yelling and
screaming and telling him why he wasn't coming up on freely.
It came as a heavy blow, but we sorted the matter out"


So, post 'em if you've got 'em!

[MattSh]

1. Ah, trouble in the EuroZone. Spain specifically.

The EU’s Five Worst Unemployment-Fiasco Regions? | Wolf Street

Spain’s crisis is “in many ways over.” At least according to Mariano Rajoy, Spain’s disaster-prone Prime Minister. As for the country’s 5.5 million unemployed, the ordeal continues – in many ways. Indeed, so fierce was the ensuing backlash that Rajoy was forced to at least partially retract the offending phrase. “In many ways the crisis is history, but its consequences are not,” he clarified.

With a new political scandal erupting just about every other day and his party’s credibility at an all-time low, Spain’s fragile economic recovery is the only silver lining Rajoy’s government has left. Hence, every time a journalist brings up the government’s growing rap sheet, Rajoy’s knee-jerk response is straight out of the politician’s elementary handbook of distractionary methods.

“Look over there, a beautiful economy,” he seems to gush as his eyes glaze over dreamily and his mouth launches into a well-versed tale of economic happiness.

Like most good tales, the storyline contains a great deal more fiction than truth – demonstrated by two separate but closely linked data points. The first is a report by Eurostat on unemployment. Spain still has the second-highest unemployment rate in the EU, at 23.2% way worse than third-place Hungary (18.5%) but not quite as terrible as Greece (26%). That would be bad enough. But the report also shows that Spain is proud home to the five European regions with the worst levels of unemployment.

At the top of the medal positions is the southern province of Andalusia, currently sans government after recent regional elections returned a deeply divided hung parliament. It’s unemployment rate is closing in on a disastrous 35%! The next five worst regions are also in Spain. Even fifth place, Castilla-la Mancha, has an unemployment rate of 29%. In fact, six of the worst 10 regions in the EU are in Spain, the rest are in Greece.

Complete story at - http://wolfstreet.com/2015/04/23/don-quijones-5-regions-in-eu-with-worst-unemployment-are-in-spain/



The "ES" in the chart is Spain.

[Demeter]

36. It ain't over til it's over--Yogi Berra

Excellent job, Matt!

I've been stymied by this hotel...broken elevator, wonky internet access, and exhaustion....but it was great to get away. Now, I have to go back....and that's not a welcome thought.

Caught Fred Rogers on cable, good for the Kid, good for me....that's the depth of my despair at present. but the horoscope says it will all get better soon--the sun will come out, etc. Only Time will tell.

[MattSh]

2. Probably a good thing, except for those who work there.

Mish's Global Economic Trend Analysis: Supersaturation and Store Cannibalization: McDonald's to Close 700 Stores, 350 Already Took Place First Quarter

McDonald's is closing 700 stores this year, 350 of which took place first quarter. That sounds like a lot but it pales in comparison to the 32,500 stores in the chain.

Still it is a sign of Multiple Problems for McDonald's

On Wednesday, McDonald’s had reported an 11% decrease in revenue and a 30% drop in profit for the first three months of year, a continuation of its troubles in the last two years as it has struggled to compete with new U.S. competitors, a tough economy in Europe and a food safety scare in Asia.

McDonald’s CFO Kevin Ozan told analysts that the shuttered stores in China, where comparable sales fell 4.8% in the first quarter, had been underperforming for years. In Japan, where McDonald’s is still reeling from the food safety scare last summer, the stores closed stores were “heavy loss maker restaurants.” As for the U.S., comparable sales were down 2.3%, one of their biggest drop in years as chains like Chipotle ate into sales.

In the last few months, it has made a few moves that telegraph where it is heading, though it is pretty clear how the big the challenge will be for the Golden Arches.

For instance, earlier in April the company announced it is testing out a larger, pricier, third-of-a-pound burger for $5, two years after dropping the similar Angus burger line because they were too pricey for McDonald’s diners. Despite that earlier failure, new CEO Steve Easterbrook expressed confidence his customers would go for premium burgers.

Complete story at - http://globaleconomicanalysis.blogspot.com/2015/04/supersaturation-and-store.html

My note: Who goes to McDonalds for a premium burger? You can still get a premium burger at a local restaurant for a buck or two more, including fries and a salad, can't you? Or have I been outside the USA for that long?

[Demeter]

37. It's the Crapification of everything, as Tansy calls it

The semi-decent, not exactly fast food, non-franchised restaurants are driven out by the franchises. The franchises cut corners and people get sick or turn away from the poor quality.

In Ann Arbor, there are so many people into "alternative eating"...which I define as "anything except real food that generations of humans have enjoyed"...that food snobs have destroyed dining out and eating in. God help the person who goes to a potluck. The pots might be the only thing edible or nutritious. The grocery stores are full of "nutraceuticals" neither food nor medicine, but purporting to be both.

And then, there's the imports from China....why, in a continent of such fertility, are we importing food of dubious nature from China? Why is California exporting more than half its produce to Asia?

This is why people don't fear death...it may be the only thing that saves them.

[MattSh]

3. The invisible victims of Russia’s economic crisis aren’t even in Russia - Quartz

New data show that central Asian governments have been right to fear Russia’s economic crisis was heading their way: remittances from migrant laborers are falling sharply, more than in any other region worldwide.

Migrant remittances are the largest single source of foreign currency in Tajikistan and an important factor in declining poverty rates throughout central Asia in recent years. So the contracting Russian economy and stricken ruble—brought on by a sudden fall in oil prices and Western sanctions—have a direct impact on millions of the region’s laborers and their families back home.

“Overall, reduced remittances are likely to worsen standards of living in remittance-receiving countries, and the increasing number of returned migrants could put upward pressures on unemployment rates,” the World Bank said in a regular briefing on Apr. 13.

Tajikistan—which sends approximately one-half of its working age males to labor in Russia—is the most remittance-dependent country in the world. Remittances account for the equivalent of 49% of GDP, according to the World Bank. In dollar terms, they fell 8% last year, largely in the fourth quarter, and are expected to decline another 23% in 2015.

Kyrgyzstan is the world’s second most remittance-dependent country, with remittances totaling the equivalent of 32% of GDP. Last year they fell 1%, but are expected to drop another 23% this year.

Complete story at - http://qz.com/389209/the-invisible-victims-of-russias-economic-crisis-arent-even-in-russia/


A migrant family, on the outskirts of Moscow.(Reuters/Denis Sinyakov)

My note: But hey, let's make chaos for Tajikistan and Kyrgyzstan. This makes them ripe for color revolutions, and Russia needs a few more color revolutions on their border.

[MattSh]

4. And speaking of Kyrgyzstan...

The putsch in Kiev has reminded governments in the Caucasus and Central Asia that they could fall victim to similar events at any time. This applies especially to countries in Russia’s sphere of influence, such as Kyrgyzstan. The specter of a Kyrgyz Maidan has haunted Bishkek since last year, when the suspicious activities of the U.S. State Department’s TechCamp project and the subsequent visit of George Soros raised a few eyebrows. Lately, Kyrgyz and Russian media went into a frenzy over the delivery of 150 tons of “diplomatic mail” to the U.S. Embassy in Bishkek:

US Sends Mysterious 150 Tons of ‘Diplomatic Mail’ to Embassy in Kyrgyzstan

Washington has remained tight-lipped on a report by the Kyrgyz newspaper Delo No. that a mysterious Ukrainian aircraft delivered 150 tons of cargo with the status of “diplomatic mail” to the US Embassy in the Kyrgyz capital Bishkek late last month.

According to the newspaper, the cargo was delivered during two separate flights by the AN-124 transport jet of the Ukrainian air carrier Antonov Avialinii. The flights took place between March 28 and March 30, and each time the plane was en route from the UAE capital Abu Dhabi to the Manas international airport.

The newspaper recalled that in November 2013, the US Embassy in Kiev also received “diplomatic cargos” that were delivered by US Air Force transport aircraft.

http://russia-insider.com/en/150-tons-us-diplomatic-mail-stirs-kyrgyzstan/5897

[MattSh]

5. Off for a break, though I'll be back later...

Hopefully Demeter will stop by for a spell too, because I can be nearly as prolific as she!

And remember, post 'em if you've got 'em!

[MattSh]

16. Dang,

I meant to say I can't be nearly as prolific as she!

[MidschoolLiberal17]

6. The top 2 and number 8...

are expected. All they want to do is to monopoly the RW media even further to spread their evil message. I am sad to say that the US would become an autocratic country if they continue..

[DemReadingDU]

13. Thanks for dropping by!

Check back with us every weekend!

and during the week, check our daily Stock Market Watch thread.

[MattSh]

7. Everybody's heard about Russian Oligarchs, but just who are they?

Riches, Scandal, And Exile: 10 Russia Oligarchs You Should Know - Business Insider

You may have noticed, but there are a few incredibly rich Russians being mentioned in the media as of late.

Utilizing the country's mineral and energy resources, these oligarchs have transformed themselves into some of the wealthiest businessmen on the planet.

However, with constant question marks hanging over exactly how these guys got their money, they're constantly finding their way into the headlines. Couple that with the fact that the Russian government (i.e. Vladimir Putin) doesn't like them very much and that they seem to have no love lost for each other, and you've got a group of pretty intriguing guys.

Here's a list of 10 for you to get acquainted with.

Roman Abramovich
Vladimir Potanin
Mikhail Prokhorov
Boris Berezovsky
Vladimir Gusinsky
Alisher Usmanov
Oleg Deripaska
Roustram Tariko
Mikhail Gutseriyev
Mikhail Khodorkovsky

Read more: http://www.businessinsider.com/russian-oligarchs-a-beginners-guide-2011-10?op=1#ixzz3YJSu4dFF

My Note: Though the article is from 2011, the lists of Russian oligarchs doesn't change much. I just wish this article would have filled in the blanks more. An example:

Who he was: The scientist with a PhD in mathematics and physics who began his career in academic research.

How he made his fortune: Initially by acquiring stakes in the state car manufacturer, Avtovaz. He then went on to Russian airline Aeroflot and acquired shares in Sibnet with Roman Abramovich. He also controlled a large part of the Russian aluminum industry and a TV network.

That's a pretty big leap, saying he began in academic research, then acquired stakes in a car manufacturer. Did academic research pay that well?

[MattSh]

8. More about Russian Oligarchs...

Including some cheesecake!

http://www.therussianoligarchs.com/

Not a lot at this blog, but very informative nonetheless.

[MattSh]

9. Now of equal time to the Ukrainian oligarchs...

The Ukrainian oligarchs are a group of business oligarchs that quickly appeared on the economic and political scene of Ukraine after its independence in 1991, just as happened in neighboring post-Soviet state Russia.[1][2] As of 2008, the combined wealth of Ukraine's 50 richest oligarchs is equal to 85% of Ukraine's GDP.[3]

Notable Ukrainian oligarchs

In January 2001 only two people of this list were seen as being an oligarch by the general public (only Lazarenko and Tymoshenko were perceived to be, they topped a Kyiv International Institute of Sociology survey in January 2001).[5]

• Petro Poroshenko is the fifth and current President of Ukraine.
• Rinat Akhmetov is the wealthiest man in Ukraine.
• Leonid Chernovetskyi, one of the first bankers in Ukraine, former mayor of the capital Kyiv.
• Dmytro Firtash, the most important figure in the vital gas industry.
• Andriy Klyuyev, a multi-millionaire with a long career in Ukrainian government with rapidly growing fortune and alleged close connection to the President's family.
• Ihor Kolomoyskyi, the second/third richest person in Ukraine since at least 2006.[6]
• Viktor Pinchuk, the son-in-law of ex-president Leonid Kuchma who controls much of the nation's media.
• Yulia Tymoshenko, former Prime Minister of Ukraine, speculated to be one of the wealthiest persons in Ukraine (although she claims to have a modest income).[7][8][9][10]
• Serhiy Tihipko, a multi-millionaire with a long career in Ukrainian politics.[11]
• Pavlo Lazarenko, former Prime Minister of Ukraine now jailed in U.S. prison.
• Vadim Rabinovich
• Oleksandr Yaroslavskiy
• David Zhvaniya
• Armenak Minasyants

http://en.wikipedia.org/wiki/Ukrainian_oligarchs

[MattSh]

10. Champagne Tastes On Beer Incomes: Tax Declarations In Ukraine Suggest Enduring Corruption

KYIV -- Yulia Tymoshenko didn't have much of an income in 2014.

The former Ukrainian prime minister spent part of the year in prison, part of it rehabilitating in the hospital, and much of it in back-to-back campaigns for president and parliament.

But nevertheless, she managed to buy a luxury car, according to her tax declaration. And that’s despite having no savings at all.

Tymoshenko’s mysterious finances are by no means unique among Ukrainian politicians. As they begin to make their 2014 income declarations public -- something that they are legally obliged to do every April -- it became painfully obvious that such financial discrepancies are commonplace.

And they cross party affiliation, age, and background.

The gaps between officials' incomes and their assets are a painful reminder of the deep-rooted corruption and insider deals that continue to plague Ukrainian politics, despite being the main cause of two revolutions.

Tymoshenko declared that last year her family purchased a Mercedes Benz GL-350, worth about $78,000, in Ukraine.

Complete story at - http://www.rferl.org/content/ukraine-tax-declarations-discrepencies-corruption/26969701.html

[MattSh]

11. Raúl Ilargi Meijer has been on a roll this week at The Automatic Earth.

First he starts off with this....

Why Europe Lets People Drown - The Automatic Earth

That Europe let almost 1000 people die in the Mediterranean in one night shouldn’t be a surprise to anyone, at least not to those who are still occasionally awake. The Club Med migrant crisis has been going on for a long time, and the EU’s only reaction to it has been to slash its budget and operations in the area, not to expand them.

So when the New York Times opens with “European leaders were confronted on Monday with a humanitarian crisis in the Mediterranean..”, they’re a mile and a half less than honest. Brussels has known what was going on for years, and decided to do less than nothing.

The onus was put on Italy, Malta, Greece and a handful of private compassionate activists to handle the situation, as if it was some sort of local, or even tourist, issue, while Europe’s finest went back to festive gala openings of their €1 billion+ ‘official’ edifices, and back to forcing more austerity on member nations. Somebody has to pay for those buildings.

The EU took over rescue operations from Italy late last year and promptly cut the budget by two-thirds. Saving migrant lives was deemed just too expensive. You don’t survive in European politics if you don’t get your priorities straight.

On March 8, I wrote ‘Europe, The Morally Bankrupt Union’, and things have only deteriorated from there. If the international press, and various world leaders, wouldn’t have called them out over the weekend, the Brussels class would still not do a thing about the migrant drama, and would still feel comfortable hiding behind the factoid that most migrants drown outside European waters.

In their meeting on Monday, a bunch of EU interior and foreign ministers once again didn’t reach any meaningful conclusions; it’ll be up to presidents and prime ministers to do this on Thursday. One might almost hope for another huge tragedy before that date, just so the cynical hypocrisy that rules Europe would be exposed once again for all to see.

Complete story at - http://www.theautomaticearth.com/2015/04/why-europe-lets-people-drown/

And then he follows it with this:

When Did We Become Murderers? - The Automatic Earth

Appalled doesn’t cover it. Disgusted won’t do either. Angry doesn’t come close. Maybe I have yet to learn of a word that would express my feelings on the following topic. There’s a disease, an epidemic, that spreads through out the western world. We are all turning into accomplices to murder. And I still believe we are better than that. Just perhaps not all of us.

The US, and the rest of the west, have made plenty enemies already without needing to create their own out of thin air – as if there were ever a need to create enemies. But that’s still what we’ve been doing in many places in the world, including Ukraine. And there’s an entire multi-billion machine working just to make us think what someone else wants us to think about these ‘enemies’.

These days, when you call someone ‘pro-Russian’, that’s about on on the same level as ‘murderer’, rapist, things like that. And that must be why the western press once again resorts to ‘pro-Russian’ as a swear word, or even curse, in reporting on the murders of at least 10 people in Ukraine over the past 3 months. As far as we can see, all were considered ‘allies’ of former President Yanukovych (whatever ‘allies’ may mean in this context) and 2 were journalists (of whom at least 1 was also a historian).

Yanukovych was (or is, actually) not a saint. He was the utterly corrupt president of a country that has been utterly corrupt for a very long time. It still is today, and it’s getting worse, fast. Whereas Russia didn’t feel it had the right or need to interfere in the country, the west did. Its interference culminated in the ouster of Yanukovych in late February 2014, and the introduction of a ‘government’ that is extremely pro-western and extremely anti-anything-’that has anything to do’-with Russia (including the language).

First, we saw the US install its puppet Yatsenyuk as PM (we know about this through leaked tapes of US Dep. Secretary Victoria Nuland). ‘Yats’ to this day has never been elected to office by ‘his’ people (or any other people, for that matter) . A few months later came oligarch Poroshenko as president, who was.

Both men have been instrumental in waging a very bloody and deadly war against a significant segment (a third) of their own population, in east Ukraine. This warfare has coincided with an ever more blatant propaganda war against anything-’that has anything to do’-with Russia, both in Ukraine and across the west. Need I repeat not one of the accusations against Russia has, still to date, ever been substantiated, despite the best spy satellites etc. equipment in human history?

Whereas someone who cannot be accused of anything worse than being pro-Russian is merely equal to a murderer or rapist, being – labeled as – pro-Putin is several levels worse than that. Meanwhile, Russian President Putin himself has been compared to the biggest mass-murderers in human history, amongst others by US presidential candidate Hillary Clinton.

Complete story at - http://www.theautomaticearth.com/2015/04/when-did-we-all-become-murderers/

And did Soros play a role in this? I'm glad you asked. Of course he did. His money backed many of the groups advocating change in Ukraine. This put Soros in the perfect place to profit once the new government came to power and had to sell off assets as part of IMF demanded austerity. However, the Russian leaning parts of the country, those parts that had been part of Russian for centuries, decided they wanted no part of this, and rebelled. Ukraine responded by bombing its industrial base back to the Stone Age. Soros, seeing the his grand Ukrainian adventure might end up losing money, earlier this year demanded that the USA and the EU part with an additional $50 billion to "help" Ukraine. As a side benefit, Soros would still be in a position to profit on his bets.

It must suck to not have a soul.

[DemReadingDU]

12. Open Letter From Greece on the Mediterranean Migrants Issue

and another posted by Raúl Ilargi Meijer....

4/24/15 Open Letter From Greece on the Mediterranean Migrants Issue
This is an open letter I received from a group of 57 Greek intellectuals, addressed to the EU and America, concerning the waves of refugees (migrants, immigrants) that ‘wash ashore’ on Greek territory in increasing numbers.

We all know by now to what extent Europe has dropped the ball on the issue, and I’ll have much more to say on that soon. I thought it would be a good and respectful idea to let this letter stand on its own, and on its own merit.

The number of refugees trying to make it to Greece was estimated at 30,000 in 2014. It’s certain to be a multiple of that this year. The EU may quote numbers like 150,000 for all of southern Europe for 2015, but in real life it will easily be over 500,000.

The EU has no idea what it’s doing, what it’s up against, or what to do next. Brussels figured if it would just close its eyes, the problem would go away. And even today, after almost 1000 victims drowned last weekend, passing the buck to its weakest member nations is apparently still too tempting an opportunity to resist.

Greece Can No Longer Withstand The Waves Of Desperate People Arriving From War Zones:

Your Immediate Action Is Imperative


To:
• The Leaders of all European countries
• All Members of the European Parliament
• President Obama and All Members of the United States Congress


Greece, April 2015

The conflicts in many Middle-Eastern and African countries have devastated life in these regions and made survival uncertain. While the world has been witnessing the horrific decapitations and burning alive of human beings, large scale events are also occurring that can change the history and the fate of the affected countries and the world. Thousands of people, Christians and Muslims, are fleeing the war zones in any way they can; entire families jump into boats hoping to reach Europe, if they do not drown on the way.

Southern Europe is the most accessible, and particularly Greece and Italy. Tragedies in the Mediterranean Sea, with desperate people drowning on the way to Europe, have been happening for a few years by now. But only recently this news reached the United States (US) and every part of the world, due to the extensive loss of human lives, while it is hardly in the news that Greece and Italy have been left essentially with no help to deal with these tragedies.

much more, and a list of the signors too
http://www.theautomaticearth.com/2015/04/open-letter-from-greece-on-the-mediterranean-migrants-issue/

[MattSh]

14. A little bit more about Soros...

This is an archived link, which won't let me copy and paste for some reason.

http://web.archive.org/web/20101105030129/http://nationalpride.wordpress.com/2009/02/18/george-soros-imperial-wizard-part-i

[MattSh]

25. More on Soros

A couple years old again, but has anything gotten better since then? Of course not!

Land Destroyer: Soros Criminal Conviction Exposes "Human Rights" Scam

Soros leverages "human rights" for personal gain - as does his global NGO empire.

by Tony Cartalucci

March 28, 2012 - Bloomberg's report, "Soros Loses Case Against French Insider-Trading Conviction," indicates that an appeal based on a "human rights" violation against Wall Street speculator George Soros has been rejected by the "European Court of Human Rights." Soros, who was convicted and fined for insider trading in 2002 regarding French bank Société Générale shares he bought in 1988, has built an empire out of obfuscating global criminal activity with the cause of "human rights."

The court's decision in rejecting the appeal was based on Soros being “a famous institutional investor, well-known to the business community and a participant in major financial projects,” and thus should have been “particularly prudent” regarding insider-trading laws. The contents of Soros' appeal, based on "human rights" was not heard, and the details of the appeal not yet made public, however, it is an illustrative example of how Soros and global elitists like him leverage the legitimate cause of human rights and freedom as a means to execute and defend both individual and institutional criminal behavior.

Soros has built a global empire of networked nongovernmental organizations (NGOs) allegedly promoting "human rights," "freedom," "democracy," and "transparency." His Open Society Institute funds amongst many others, Amnesty International (page 10), Global Voices, and Human Rights Watch. In reality these NGOs constitute a modern day network of imperial administrators, undermining national governments around the world and replacing them with a homogeneous "civil society" that interlocks with "international institutions" run from and on behalf of Wall Street and London. And contrary to popular belief, Soros has built this empire, not against "conservative" ambitions, but with their full cooperation.

It is difficult to find a cause Soros' Open Society Institute supports that is not also funded, directed, and backed by the US State Department-funded, Neo-Conservative lined National Endowment for Democracy (NED) and its various subsidiaries including Freedom House, the International Republican Institute (IRI) and the National Democratic Institute (NDI).

Complete story at - http://landdestroyer.blogspot.co.uk/2012/03/surpise-soros-is-convicted-criminal.html

[MattSh]

15. Musical Interlude. Then a break.

The Flying Lizards - Money (That's What I Want)

[mother earth]

17. Excellent theme. There's no short supply on the Walton (Wal-Mart) family, corporate welfare

kings and queens. There's a five part series at Brave New Films since it is such a greed rich enterprise. Here's a slice, part 5,

The largest employer in the United States is also the most aggressively anti-union corporation in our nation's history. How do they quell their workers' attempts to organize around obtaining fair terms of employment? Watch to find out. BRAVE NEW FILMS BOXED SET: http://www.bravenewfilms.org/10thanni...

The subsidies Walmart gets from city governments takes funding away from public schools. When Walmart opened stored in Denver, they got $1.7 million in city subsidies, if the money had gone to the Denver Public Schools system, they wouldn't had have to shut down three schools. Subsidies also give Walmart an unfair business advantage over small, locally owned stores that offer better pay and benefits for their workers.

Enough is enough. All working people deserve fair wages and benefits. Workers in more than 2,000 stores have come together to call for Walmart to increase wages to a minimum of $13 an hour and access to full-time hours. OUR Walmart is coordinating these protests and is attempting to strike a blow to the most exploitative corporation in America on the biggest retail day of the year. Stand with the Walmart strikers this Black Friday at a protest near you:
http://www.blackfridayprotests.org/

Quick facts about Walmart:

•The Walton family, who owns Walmart, is the richest family in America -with nearly $150 billion in wealth.

•They have as much money as 43% of America’s poorest families combined.

•Most of Walmart's 1.3 million employees make less than $25,000 per year.

•Most Walmart jobs are part-time.

•Many Walmart workers are forced to utilize state subsidized benefits in lieu of receiving sufficient benefits from their employer. Very interesting that The Waltons have funded numerous political campaigns which attack welfare, while they benefit hugely from the system...

•Walmart no longer offers health benefits to employees who work less than 24 hours per week.

•Walmart requires workers to attend anti-union meetings and specially trains supervisors in union avoidance.

•"In 2005, a memo from Walmart’s then Vice President of Benefits Susan Chambers outlined a strategy for how the company could remove sick workers from the payrolls and avoid paying healthcare benefits." - MakingChangeatWalmart.org

You can fight back. Join us: https://www.youtube.com/channel/UCy1U...

ABOUT BRAVE NEW FILMS Robert Greenwald and Brave New Films are at the forefront of the fight to create a just America. Using new media and internet video campaigns, Brave New Films has created a quick-strike capability that informs the public, challenges corporate media with the truth, and motivates people to take action on social issues nationwide. Brave New Films’ investigative films have scrutinized the impact of U.S. drone strikes; the war on whistleblowers; and Wal Mart’s corporate practices. The company’s films have received more than 56 million views online.

----------

Kudos & TY to Brave New Films!!!

[mother earth]

18. Wal-Mart, no fools, does not suffer activists...just close the store & commence plumbing repairs.

http://www.latimes.com/business/hiltzik/la-fi-mh-is-walmart-closing-stores-to-remodel-20150421-column.html#page=1
Is Wal-Mart closing stores for 'repairs,' or to punish activist workers?

Wal-Mart says repairing its stores is urgent, but it hasn't even filed for work permits

April 21, 2015, 3:28 PM

It's certainly possible that the reason Wal-Mart is temporarily closing five of its stores, including one in Pico Rivera is "ongoing plumbing issues that will require extensive repairs," as it claims..

It's possible that the Pico Rivera closing, which will cost the jobs of more than 500 employees and will last six months to a year, isn't part of an effort to punish workers who who have been at "the center of concerted action by associates to improve the wages and working conditions of all Walmart associates around the country," as the workers asserted in a complaint filed Monday with the National Labor Relations Board.

“This unprecedented 'closure' to fix 'plumbing' is part of Walmart's overall national strategy to punish associates who stand up and speak out for better working conditions.”

If so, however, there wouldn't be so many questions about Wal-Mart's repair plans. One wouldn't have to wonder why the giant retailer hasn't applied for building permits for the work. Not at Pico Rivera, nor (according to inquiries by a Tampa TV station) at any of the other four--two in Texas and one each in Florida and Oklahoma.

One wouldn't have to ask why, of the list of 50 "plumbing issues" Wal-Mart provided to The Times dating back to July 2014 for the Pico Rivera store, half were identified as "non-emergency" and involved problems such as leaky urinals and broken toilet handles.

One wouldn't have to ask why such problems hadn't been fixed when the store underwent a $500,000 refurbishment over the last year, during which it didn't have to be closed--a refurbishment that included the restrooms and the grocery department, according to papers on file with the Pico Rivera building department.
(continued at link above)

[DemReadingDU]

23. Walmarts are evil

It's been years since I bought anything in any of those stores.

[mother earth]

19. Adelson, Casino Mogul& GOP purchaser..er..campaign donator...what happens in Vegas decides nominee..

What Happens In Vegas This Weekend Could Decide The Next Republican Presidential Nominee

A few snippets:

This weekend, Republican presidential hopefuls, including Sen. Ted Cruz (R-TX) and former Texas Gov. Rick Perry (R), will travel to Las Vegas to audition for billionaire casino mogul Sheldon Adelson’s backing at the Republican Jewish Coalition’s spring meeting. In their speeches, the candidates will make their pitch to Adelson that they mostly closely share his interests.

Mega donor Adelson and his wife Miriam spent nearly $150 million on the 2012 election — more than the Koch brothers — and are likely to match that amount this campaign cycle. With his $32 billion net worth, Adelson was the single largest campaign donor in American history.

Early in the last presidential election, Adelson made a decision to give a majority of his donations to conservative nonprofits which do not disclose donors. At the time, Adelson said he believed the media’s use of the phrase “casino mogul” when discussing his contributions is not helpful to the people he is trying to elect. By the time President Obama was reelected, Adelson had given close to $50 million of his contributions to dark money groups that were created after the U.S. Supreme Court issued a stream of rulings against political spending limits.

Florida Sen. Marco Rubio (R) may already be Adelson’s favorite nominee. The two men speak on the phone “about once every two weeks,” according to a Politico report that detailed Adelson’s attraction to Rubio.

More:
http://thinkprogress.org/election/2015/04/24/3650498/gop-sheldon-adelson-primary/

[mother earth]

20. More Adelson/Rubio love (the key to his heart is Israel...surprise, surprise):

Sheldon Adelson Bet Big in 2012 and Lost. Has He Learned From His Mistakes?
The Koch brothers are set to play a historic role in 2016, but they’re not the only conservative megadonors who could shape the election. This weekend, casino mogul Sheldon Adelson will host a pair of GOP contenders and a slew of other Republican politicians at one of his Las Vegas hotels. There, Texas Sen. Ted Cruz and former Texas Gov. Rick Perry will be addressing the Republican Jewish Coalition—but in reality their eyes will be on Adelson, who spent a staggering $100 million in 2012, making him the largest individual donor (non-dark money category) that election cycle .

If Adelson chooses to crack open his checkbook again—and all signs suggest he will—he could have a drastic impact on the GOP nominating contest. In 2012, Adelson almost single-handedly kept Newt Gingrich’s primary bid afloat far longer than it had any right to be by donating $20 million to the former House speaker’s super PAC. Of course, Gingrich is also proof of the limits of deep-pocketed patrons like Adelson. His cash was enough to allow Gingrich to prolong the inevitable, but it wasn’t enough to avoid it. (Adelson’s other political bets didn’t turn out much better for him that year.)

Adelson seems to have learned that lesson. Already there are signs that he plans to spend his cash more wisely this time around. His advisers are saying that he’s determined to cast his lot with a more mainstream candidate in 2016, one that has an actual chance to win the nomination. To prove it, his team has made it known that his current favorite is Florida Sen. Marco Rubio, who attended last year’s RJC meeting. Via Politico:

In recent weeks, Adelson … has told friends that he views the Florida senator, whose hawkish defense views and unwavering support for Israel align with his own, as a fresh face who is “the future of the Republican Party.” He has also said that Rubio’s Cuban heritage and youth would give the party a strong opportunity to expand its brand and win the White House. …


Adelson’s attraction to Rubio is in no small part centered on the Florida senator’s outspoken support for Israel, an issue near and dear to the billionaire’s heart. Rubio has reached out to Adelson more often than any other 2016 candidate, sources close to Adelson say, and has provided him with the most detailed plan for how he’d manage America’s foreign policy.

More:
http://www.slate.com/blogs/the_slatest/2015/04/24/sheldon_adelson_2016_casino_mogul_is_expected_to_spend_big_in_gop_primary.html
------------

Income inequality is set to be a big issue this campaign....

[mother earth]

21. UK Lehman Moment on Horizon? (Seems everyone has one coming up these days.)

Election ‘Chaos’ In UK Could Trigger ‘Lehman Moment’ For Pound

UK economy a ‏’timebomb’ and will explode after election – Albert Edwards
- Telegraph warns of “Lehman Moment” stemming from possible election chaos
- Currency traders view pound as being particularly vulnerable
- Latest data shows UK poised to slip into deflation for the first time since 1960
- Polls place Labour and Tories neck and neck as election looms
- Hung parliament may force either side to enter coalition with potentially disliked partners
- Outright majority for either side would also lead to further uncertainty
- Political uncertainty may impact sterling and UK assets
- UK has massive debt and vulnerable to Eurozone debt crisis

With the British general election due in just under two weeks on May 7, concerns are growing about the outlook for the UK pound after the election and the long term outlook of the UK economy due to the extremely high levels of debt – particularly in the private sector in the UK.

UK debt has continued to rise throughout the recovery and has soared to an eye-watering £1.48 trillion. In recent days, a slew of foreign exchange analysts have warned that the pound is vulnerable to falling in value.

London’s Telegraph warned last week that election ‘chaos’ could lead to a “Lehman moment” for the pound. The pound has been in steady decline since July apparently due to traders pricing in uncertainty around the election. It is currently trading at $1.51, down from $1.71 in July.

MORE:
http://www.goldcore.com/us/gold-blog/election-chaos-in-uk-could-trigger-lehman-moment-for-pound/

--------------

Lehman moments seem to be all the rage. Could it be all of this multi-national corporate welfare, l% nonsense at play?

[Frustratedlady]

22. How can Trump be on this list when he files for bankruptcy so often?

Protected by bankruptcy laws that protect part of his wealth? That shouldn't be. If he has money, take it to pay off his debts. He's a con man.

[DemReadingDU]

24. +

[Fuddnik]

40. It's been one of their best cons for about 2 decades now.

Bankruptcy for profit.

Romney and Bain Capital were experts at it. Put up about 10-20% of the cost to buy a thriving company. The rest is debt. Now go after the workers for wage and benefit concessions because the company is so heavily in debt.

After you've rung every last nickel out of the employees, take the savings to the bank, and borrow more money with it, and use that to pay yourself huge bonuses and dividends. Keep repeating until nobody will loan the company any more money, and declare bankruptcy, and take whatever assets are left (pensions, etc.) with you.

[Frustratedlady]

42. And yet, they show their faces in public.

The sad part is, we let them get by with their thefts.

I still think these "clowns" running for office each cycle are pocketing thousands. Why else would you prostitute yourself in front of the public? Ego can't be the only answer.

[MattSh]

26. Let's examine some truly bad ideas for international aid, while we're at it...

7 worst international aid ideas - Matador Network

Maybe their hearts were in the right place. Maybe not. Either way, these are solid contenders for the title of “worst attempts at helping others since colonialism.”

1. One million t-shirts for Africa

Foreign aid circles employ the cynical acronym SWEDOW (stuff we don’t want) to describe initiatives like Jason Sadler’s 1 Million T-Shirts project. Sadler had admittedly never been to Africa, and had never worked in an aid or development environment before. But he cared a great deal, and came up with the idea to send a million free shirts to Africa in order to help the people there.

Like some sort of lightning rod for the combined venom of the humanitarian aid world, Jason found himself pilloried across the web in a matter of weeks. Everyone from armchair bloggers to senior economists spat fire on his dream until it eventually ground to a halt. In July 2010, Jason threw in the towel and abandoned his scheme. And somewhere in Africa, an economy sighed in relief.

Why was the idea so bad?

Firstly, it’s debatable whether there is actually a need for T-shirts in Africa. There is practically nowhere that people who want shirts are unable to afford them. Wanting to donate them is a classic case of having something you want to donate and assuming it is needed. Just because you have a really large hammer does not mean that everything in the world is a nail.

Secondly, dumping a million free shirts is inefficient. What it would cost to pack them, ship them, and transport them overland to wherever it is they are meant to go would cost close to the manufacturing cost of the shirts in the first place. That’s just incredibly wasteful. If you wanted to get people shirts, it would be far more cost effective to simply commission their manufacture locally, creating a stimulus to the local textile economy in the process.

Which brings us to the third critique of free stuff. When people in the target community already have an economy functioning in part on the sale and repair of the stuff you want to donate (shirts in this instance), then dumping a million of them free is the economic equivalent of an atom bomb. Why buy a shirt anymore when you can get a five-year supply for free? Why get yours repaired when you can simply toss it and get another? And in the process everyone who once sold shirts or practiced tailoring finds themselves unemployed and unable to provide money for themselves or their families to buy anything.

Except shirts. Because those are now free.

And before you think dumping free shirts is the sin of an uneducated maverick, Jason’s poor logic was subsequently repeated by World Vision, in accepting 100,000 NFL shirts to dump on some poor, shirtless village in Africa.

And there 6 more at the link!

Complete story at - http://matadornetwork.com/change/7-worst-international-aid-ideas/

[DemReadingDU]

27. Making food aid the same colour as cluster munitions.

6. Making food aid the same colour as cluster munitions.

Probably the most devastating screw-up in the history of helping was the decisions that lead to cluster munitions and daily food ration packets both being coloured canary yellow.

Each yellow BLU-97 bomblet is the size of a soda can and is capable of killing anyone within a 50 meter radius and severely injuring anyone within 100 meters from the detonation. A Humanitarian Daily Rations (HDR) package contains a 2,000 calorie meal.

It was inevitable that Afghans coming across the yellow packages in the field would confuse the two. Children in particular — with no English and little idea of what a BLU-97 is even if they did — would investigate the yellow containers and try to pick them up, with devastating consequences that an Air Force general described as “unfortunate.”

http://matadornetwork.com/change/7-worst-international-aid-ideas/

[mother earth]

28. Can't Buy Me Love...."Forbes' Billionaires' Marriages & Divorces", 82 Soros tries for third time...

It seems that money -- even loads of it -- can't buy love.

Although billionaires seem to love tying the knot (82-year-old investor George Soros recently announced his plans to marry for a third time), their marriages all too often meet the same sad end as the unions of us non-moneyed folks: divorce. (If they're lucky, they get to keep most of their money in divorce settlement, as Telsa tycoon Elon Musk recently did.)

Click through the slideshow below to find out more about these divorced billionaires, then tell us: is it simply a matter of mo' money, mo' problems?

Here's the slideshow...you know you want to see it.

http://www.huffingtonpost.com/2012/08/25/forbes-billionaires-_n_1829135.html

[MattSh]

29. Charles Hugh Smith: Our Financial Future: Infinite Greed Meets a Funny Thing Called Karma

All those angered by the mere question of the viability of this predatory pillaging in the name of capitalism are incapable of even admitting this cultural crisis exists.

Somewhere along the line, we lost the ability to distinguish between earning a profit and maximizing private gain by any means, i.e. Infinite Greed. If you insist on making this distinction now, you anger a lot of people, as it blows the capitalist cover of Infinite Greed.

The distinction between earning a profit and maximizing private gain by any means angers not just the few benefiting from the useful delusion that Infinite Greed is simply profit on overdrive; it seems to anger everyone who believes the Status Quo of burning mountains of coal to power towel warmers, sitting in traffic burning petrol two hours a day and central banks enriching the already wealthy is not just sustainable but gol-darned good.

If you make the distinction between earning a profit and maximizing private gain by any means, then you realize the status quo is neither sustainable nor good: it is unsustainable and evil. This angers everyone who has rationalized their investment in (and defense of) an evil system, because, well, it's hard to feel all warm and fuzzy about your choices if the phony facade falls and the evil of the system you've defended is starkly revealed.

Every enterprise must earn a profit to survive. A worker-owned collective must earn a profit, as it needs money to reinvest in the business and reward those who have invested their capital (human, social, financial, intellectual, etc.) in the enterprise.

Complete story at - http://charleshughsmith.blogspot.com/2015/04/our-financial-future-infinite-greed.html

[MattSh]

30. Charles Hugh Smith: The Rehypothecation of Gold, and Why It Matters

Claiming to own X quantity of gold is one thing, and reporting how many times the gold has been pledged as collateral is another.

When correspondent Scott A. Batten offered to write an explanation of the rehypothecation of gold and why it matters, I quickly accepted. Like many others, I have breezed over the word rehypothecation with the basic understanding that it means assets pledged by counterparties (such as the infamous copper stored in Chinese warehouses) are reused as collateral/repledged--in effect, the same assets are pledged as collateral multiple times.

But beyond this, I have not had a clear understanding of how the rehypothecation of gold reserves threatens the whole shaky edifice of Infinite Greed, oops, I mean neoliberal capital markets.

Here is Scott's commentary:

When introducing a new concept, it is best to start with the definition of the words to be used. In this case, the discussion of rehypothecation and how it places the world at risk with the fun and games played in the stock market.

Rehypothecation:

Rehypothecation occurs when your broker, to whom you have hypothecated -- or pledged -- securities as collateral for a margin loan, pledges those same securities to a bank or other lender to secure a loan to cover the firm's exposure to potential margin account losses.

When you open a margin account, you typically sign a general account agreement with your broker, in which you authorize your broker to rehypothecate.

Complete story at - http://charleshughsmith.blogspot.com/2015/04/the-rehypothecation-of-gold-and-why-it.html

[DemReadingDU]

32. Paper Promises

If you can't hold it, you don't own it.

[MattSh]

31. 11 Signs That We Are Entering The Next Phase Of The Global Economic Crisis | Zero Hedge

Last one for the evening folks! Yes, it's evening here, in the dark depth of East Europe.

Well, the Nasdaq finally did it. It has climbed all the way back to where it was at the peak of the dotcom bubble. Back in March 2000, the Nasdaq set an all-time record high of 5,048.62. On Thursday, after all these years, that all-time record was finally eclipsed. The Nasdaq closed at 5056.06, and Wall Street greatly rejoiced. So if you invested in the Nasdaq at the peak of the dotcom bubble, you are just finally breaking even 15 years later. Unfortunately, the truth is that stocks have not been soaring because the U.S. economy is fundamentally strong. Just like the last two times, what we are witnessing is an irrational financial bubble. Sometimes these irrational bubbles can last for a surprisingly long time, but in the end they always burst. And even now there are signs of economic trouble bubbling to the surface all around us.

The following are 11 signs that we are entering the next phase of the global economic crisis…

#1 It is being projected that half of all fracking companies in the United States will be “dead or sold” by the end of this year.

#2 The rig count just continues to fall as the U.S. oil industry implodes. Incredibly, the number of rigs in operation in the United States has fallen for 19 weeks in a row.

#3 McDonald’s has announced that it will be closing 700 “poor performing” restaurants in 2015. Why would McDonald’s be doing this if the economy was actually getting better?

#4 As I wrote about the other day, we could be right on the verge of a Greek debt default. In fact, we learned on Thursday that the Greek government has been “running on empty” for months…

Greece warned it will go bankrupt next week after failing to stump up enough cash to pay millions of public sector workers and its international debts.

Deputy finance minister Dimitras Mardas set alarm bells ringing yesterday when he declared the country had been ‘running on empty’ since February.

With a debt repayment deadline looming on May 1, Greece faces the deeply damaging prospect of having to snub its own employees to make a €200m payment to the International Monetary Fund.

#5 Coal accounts for approximately 40 percent of all electrical generation on the entire planet. When the price of coal starts to drop, that is a sign that economic activity is slowing down. Just prior to the last financial crisis in 2008, the price of coal shot up dramatically and then crashed really hard. Well, guess what? The price of coal has been crashing again, and it is already lower than it was at any point during the last recession.

Complete story at - http://www.zerohedge.com/news/2015-04-24/11-signs-we-are-entering-next-phase-global-economic-crisis

[mother earth]

33. Truthout with Greg Palast on the Koch Brothers, Dark Money, Pre-Citizens United & Today

Published on Feb 16, 2014


Since the Supreme Court of the United States ruled that money essentially equals speech in Citizens United v. The Federal Election Commission in 2010, and later in the US Court of Appeals Speechnow.org v. the Federal Election Commission decision, unregulated "expenditures" have flowed to so-called Super PACs. Both conservative and liberal groups have rushed to create these organizations that supposedly exist to work on "social welfare" causes. However, they are often sham non-profits whose sole purpose is to support or attack a candidate or a political issue. The political advantage of being a 501(c)(4) organization centers on two things: they are not limited in how much money they can take in for their so-called social welfare work, and they do not have to disclose who their donors are. Some have called this "dark money," because the funds donated to these Super PACs can't be traced to individuals or groups. If this smells of money laundering and the creation of an elaborate shell game with front organizations to hide who the political puppet masters are, that's because it is.

By law, candidates and elected officials cannot coordinate with these Super PACs during an election or to shape policy. It's a crime to do so, but that hasn't stopped the Koch brothers from helping politicians of both parties get elected - and then calling in political favors.
Investigative reporter and Truthout contributor, Greg Palast, has spent most of his career exposing the corrupting effects of money and politics in many hard-hitting pieces. Greg is gifted in his ability to connect the dots between billionaires and politicians by following the money. In the Citizens United era, it can be more difficult to follow the money because of the anonymity 501(c)(4) Super PACs afford their donors. But that hasn't stopped Greg, who shares with me some of what he has uncovered in his Truthout article, "Christie and Koch in Cahoots? It's Time to Subpoena the Committee for Our Children's Future."

[MattSh]

34. For those who missed this one...

‘Promposal’ pressure: A teen tradition gets pricey - The Washington Post

A high school junior demolishing a bagel described the pressure.

“Yeah, it’s stressful, because you have to do it right,” he explained on his way to class at Yorktown High School in Arlington.

SATs? AP tests? College applications?

“And it’s gotta be big. I mean, BIG,” said one of his pals.

“And public. It has to be really public,” added another, and the weight of it all seemed to droop his slight shoulders a little more.

What’s stressing out these 17-year-old peach-fuzz boys laden with backpacks and books and athletic bags?

Promposals. This is the phenomenon — celebrated in movies and Allstate car insurance commercials — in which teens ask each other to prom in increasingly elaborate and creative ways.

Sounds kind of cute and harmless. But here’s the thing that floored me this year: A study that Visa released this week on teen credit card spending revealed that the average prom costs $919 a couple, with $324 going toward the promposal. Crazy, right?

Complete story at - http://www.washingtonpost.com/local/promposal-pressure-a-teen-tradition-gets-pricey/2015/04/23/ccf237b8-e9df-11e4-aae1-d642717d8afa_story.html

My Notes: You've got to be freaking kidding me. No wonder a good part of the world thinks the USA is nuts. And it looks like a lot of the commenters think so too:

prom goer
4/25/2015 6:04 AM GMT+0300
Speaking as a current high school senior, and someone who's been promposed to twice, I HATE this tradition. It's embarrassing, not to mention fairly manipulative. I mean, if you get asked in such a huge way it's basically impossible to say no. You're up there, in front of whole team or class or SCHOOL and it's a lot of pressure. And if you do stand up to the pressure and say no, it's the talk of the school for ages and even more embarrassing.

sgk1150
2:03 AM GMT+0300
Sweet Jesus Americans are freaks.

SquareDot
1:07 AM GMT+0300
No sympathy here. Kids are brought up to feel entitled. This sounds like one of the steps.

prudenthedgehog
4/25/2015 2:53 PM GMT+0300
Way too much pressure on the recipient to say yes when it's done publicly. I feel bad for the kids on the receiving ends of these

Sheri McMahon
4/24/2015 9:37 PM GMT+0300
Well, when people hire limos for 6th grade graduations (or kindergarten!) that kind of sets a high bar from the get go

[DemReadingDU]

35. Yeh, crazy

Crazy parents to allow and pay for these extravaganzas, or maybe kids are independently wealthy nowadays.

[MattSh]

38. Had to post this over in GD.

Would you kill for a Bentley?

http://www.democraticunderground.com/10026569946

[Demeter]

39. Sorry to be so AWOL

I just threw a whole bunch of ad-blocking applications on this computer, and it finally stopped winking out on me....

Excellent thread, Matt....quality counts even more than quantity.

It's still pretty cold here, considering it's May in a few days....and they are predicting a cold summer this year, perhaps not as cold as last year, and last summer was COLD! But I don't trust the weather predictions, either...they threw out the actual data and built all these computer models, and the models are....less than stellar.

In a few hours, after I've helped clean up the production, the Kid and I will trek home, see if anything can be salvaged, and go back to the daily grind.

I have had some time in input for reflection, to fight the good fight a little smarter and better. So we will see.

[MattSh]

41. Musical Interlude: The Magnificent Seven - The Clash

While the billionaires are ripping us off, here's a song for your average working stiff.

Clash – The Magnificent Seven Lyrics
Ring! Ring! It's 7:00 A.M.!
Move why'self to go again
Cold water in the face
Brings you back to this awful place
Knuckle merchants and you bankers, too
Must get up an' learn those rules
Weather man and the crazy chief
One says sun and one says sleet
A.M., the F.M. the P.M. too
Churning out that boogaloo
Gets you up and gets you out
But how long can you keep it up?
Gimme Honda, Gimme Sony
So cheap and real phony
Hong Kong dollars and Indian cents
English pounds and Eskimo pence

You lot! What?
Don't stop! Give it all you got!
You lot! What?
Don't stop! Yeah!

Working for a rise, better my station
Take my baby to sophistication
She's seen the ads, she thinks it's nice
Better work hard - I seen the price
Never mind that it's time for the bus
We got to work - an' you're one of us
Clocks go slow in a place of work
Minutes drag and the hours jerk

"When can I tell 'em wot I do?
In a second, maaan...oright Chuck!"

Wave bub-bub-bub-bye to the boss
It's our profit, it's his loss
But anyway lunch bells ring
Take one hour and do your thanng!
Cheeesboiger!

What do we have for entertainment?
Cops kickin' Gypsies on the pavement
Now the news - snap to attention!
The lunar landing of the dentist convention
Italian mobster shoots a lobster
Seafood restaurant gets out of hand
A car in the fridge
Or a fridge in the car?
Like cowboys do - in T.V. land

You lot! What? Don't stop. Huh?

So get back to work an' sweat some more
The sun will sink an' we'll get out the door
It's no good for man to work in cages
Hits the town, he drinks his wages
You're frettin', you're sweatin'
But did you notice you ain't gettin'?
Don't you ever stop long enough to start?
To take your car outta that gear
Don't you ever stop long enough to start?
To get your car outta that gear
Karlo Marx and Fredrich Engels
Came to the checkout at the 7-11
Marx was skint - but he had sense
Engels lent him the necessary pence

What have we got? Yeh-o, magnificence!!

Luther King and Mahatma Gandhi
Went to the park to check on the game
But they was murdered by the other team
Who went on to win 50-nil
You can be true, you can be false
You be given the same reward
Socrates and Milhous Nixon
Both went the same way - through the kitchen
Plato the Greek or Rin Tin Tin
Who's more famous to the billion millions?
News Flash: Vacuum Cleaner Sucks Up Budgie
Oooohh...bub-bye

Magnificence!!