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Upsetment
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Obama to Outline Proposals to Bolster a Lagging Housing Sector

Obama to Outline Proposals to Bolster a Lagging Housing Sector | Upsetment | Scoop.it
President Obama will seek to address the disappointing housing sector Thursday, lowering insurance rates on federally issued mortgages to first-time home buyers, minorities and struggling Americans.
Kenneth Weene's insight:

Every America should have the possibility of a decent place to live. Private home ownership is good because it gives people a stake in their communities. However, artificially stimulating home ownership was one of the major causes of the last recession. Inducing banks to play with mortgages (and derivatives) was a fool's errand. We should not be going down that road again. If the government wants to encourage home ownership among the less wealthy, then build the housing and sell it to them for less. Guarantee mortgages as long as people are honestly trying to work and keep their homes, much as we give Social Security to those who become disabled and welfare to those who lose their jobs without fault of their own. But let us not play the mortgage tinkering game again.

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The Hole in Holder’s Legacy

The Hole in Holder’s Legacy | Upsetment | Scoop.it
The Justice Department under Attorney General Eric Holder Jr. failed to prosecute cases related to the financial crisis.
Kenneth Weene's insight:

The bottom line so often seems to be the bottom line. Our government no longer seems to be a balance between business and the public but is rather primarily a servant of corporations and the wealthy. We have moved back to the late nineteenth century. We need another Teddy Roosevelt to lead the charge up the hill of money.

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Kansas bond rating downgraded after tax cuts

Kansas bond rating downgraded after tax cuts | Upsetment | Scoop.it
Big tax cuts and no spending cuts means Kansas has to pay more to borrow.
Kenneth Weene's insight:

Anybody for a Republican government? Somehow they just don't get it, those tickle down and increased revenues from tax cut ideas just don't work in the real world. 

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The Founding Fathers backed Thomas Piketty – and feared a powerful 1 percent

The Founding Fathers backed Thomas Piketty – and feared a powerful 1 percent | Upsetment | Scoop.it
This 4th of July, remember the truth about founding fathers, and their prescient warnings about income inequality
Kenneth Weene's insight:

If you don't know who Thomas Piketty is; no, he was not a founding father. He is a modern French economist who proposes a worldwide tax on wealth to stop the growth of inequality. Meanwhile, the review of the thought of some of our great American heroes is very instructive and interesting.

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Where the World's Unsold Cars Go To Die | Zero Hedge

Where the World's Unsold Cars Go To Die | Zero Hedge | Upsetment | Scoop.it
In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as "channel stuffing", of which General Motors is particularly guilty and whose inventory at dealer lots just hit a new record high. But did you know that when it comes to flat or declining sales and stagnant end demand, channel stuffing is merely the beginning? Presenting... Where the World's Unsold Cars Go To Die
Kenneth Weene's insight:

This is strong evidence that the "capitalist" system of Adam Smith is not the way our actual economic system is working. Excess supply should drive down prices or supply, but that isn't happening. Instead we have collusion among the manufacturers, which is why we need government supervision of markets.

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The Scariest Environmental Fact in the World | TIME.com

The Scariest Environmental Fact in the World | TIME.com | Upsetment | Scoop.it
China is burning almost as much coal as the rest of the world combined. We won't solve global warming until that changes
Kenneth Weene's insight:

Another example of why unbridled econmic growth is not the best plan for the world. What good is all that stuff if we end up breathing crap?

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Voters are punishing Obama for this one economic failure

Voters are punishing Obama for this one economic failure | Upsetment | Scoop.it
Obama's economic performance has been middling compared with other presidents, except for one key thing.
Kenneth Weene's insight:

Until we have a political party willing to address the issue of income distribution, willing to recognize that the concentration of wealth is the real issue in every system, nothing will be accomplished to address the stagnation of incomes.

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United States' Highest-Paid CEO Works for Company That's Never Turned a Profit

United States' Highest-Paid CEO Works for Company That's Never Turned a Profit | Upsetment | Scoop.it
Here's something fun I saw on Bloomberg TV (whose Market Makers is truly the morning show of champions and/or people who are really interested in the bond market) earlier today: The highest-paid CEO in the United States, Charif Souki, works for a company that has never turned a profit. Souki...
Kenneth Weene's insight:

Two things seem obvious to me. One is that executive compensation should be tied to realities of production and function not to the creation of market fantasies. The other is that a system of taxation which makes it meaningful to just suck a company dry is not good for the economy in the long term.

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Feds stop public disclosure of many serious hospital errors

Feds stop public disclosure of many serious hospital errors | Upsetment | Scoop.it
As of this month, the federal government no longer publicly reports when hospitals leave foreign objects in patients' bodies or make a host of other life threatening mistakes.
Kenneth Weene's insight:

It seems that in this information age the role of government has not been to make information more available to consumers but rather to protect businesses by concealing the information we deserve to have for our decision making. This is the antithesis of capitalism. Sadly, many Americans think corporatism, which is our actuality, is the same as the capitalism of free markets. NOT!

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In Modi, Indians hope for an economic miracle-worker | Al Jazeera America

In Modi, Indians hope for an economic miracle-worker | Al Jazeera America | Upsetment | Scoop.it
Indians overlook new PM's hardline, sectarian rhetoric in hopes he can revitalize the slumping economy
Kenneth Weene's insight:

I think this is wishful thinking on the part of the press and perhaps many Indians. There are two things going on, and one of them is definitely the desire for a Hindu state, not necessarily religious but certainly cultural instead of non-sectarian. Second, is a hope for economic growth. However, his secret to date has been to more his state into a better competitive position against other states in India. This model is very much like the model in the U.S., a model in big business has ended up getting all the real benefits as states compete.  As a love of India, I wish Mr. Modi well, but as a realist and skeptic, I wait to see.

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5 companies that excel at screwing over customers

5 companies that excel at screwing over customers | Upsetment | Scoop.it
Time Warner Cable, Wal-Mart and others have made treating you like crap part of their basic business model
Kenneth Weene's insight:

The market only works if there is information. Here is some information that might well influence your consumer behavior. The two biggies for me are Walmart, against which I am always warning people, and Sprint, about which I have heard many complaints. Of course I don't live near the Time-Warner market.

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