Wall Street.
“The point is ladies and gentlemen that greed, for lack of a better word, is good. “
Gordon Gekko:
In the business world.
“A business that makes nothing but money is a poor business.”
Henry Ford
There is a show on one of the major networks, ABC I think, called the Shark Tank. Basically the show is about entrepreneurs looking for investment capital to start or expand their business. They pitch their ideas to a group of likely investors hopping to get at least one of them to invest money in their business.
In one show a business woman asked for an investment to expand her line of shoes into the next lower class of stores. Her shoes sold well in very upscale boutiques and she wanted to sell in stores like Nordstrom’s and Macys. All of which would require expanding her manufacturing and distribution base.
One of the “sharks” asked where she had her shoes manufactured. She replied Florida and Mass. His response was that she should moved it (manufacturing) to China. The show includes several minutes of bantering between investors and the client until a deal is reached.
After all “you have to respect the money.” One of the investors will say during the deal making processes.
Simply, it’s all about the money. Wall Street, the unofficial indicator of “profitability” of Americas companies, has dictated it to be so. Over and over since Reagan came along we have heard the mantra “Wall Street says…” or “the Street…” as the gospel of business or the economy.
Remember this, if you learn nothing more about economics, Wall Street does not represent the American worker, businessman or America. It only represents the greed of the investors. In recent years many a business decision, work force cuts or outsourcing was made simply at the behest of Wall Street. Not one of these decisions bettered America, the economy or a worker (blue or white color.)
It has had just the opposite effect. Wall Street made pitting a company and its tax structure against communities and states for “competitive” tax rates. Another moniker for improved wealth to the investors. The next step was to pit American workers against Foreign workers. After all according to the “Street” our wages are to high.
To High, Huh!
“It's all about bucks, kid. The rest is conversation”
Gordon Gekko
Yeah it’s about the buck. Those bucks are real livable wages. They are benefits, and in many cases a retirement. Financially designed to create a middle class capable of consuming the products and services made in this country and imported for equally compensated Americans.
Americans who can even after working a life time enjoy the fruits of that labor. Americans who can buy what they make, raise a family in comfort without fearing where their next meal might come from.. Americans able to fly or drive on a vacation and explore this great county.
“There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.”
Henry Ford
But to Wall Street, it’s about the wealth of a few. Greed, that’s all. You can sum it up in one simple anagram, A.M.F.A. (Another Me First Asshole.) The Republicans have openly traded our birthright with billions in corporate welfare. Helping corporations pay for less of the nations or a states infrastructure services and resources leaving you and I to pickup the tab.
Giving greater tax breaks if a corporation will ship our jobs overseas or removing laws designed to protect our jobs, our middle class and our ability to consume the goods and services we produce. Again making you and I pay for it.
The list goes on, privatizing water systems, roads, bridges, publicly run utilities, and government. Creating a great welfare nation that protects not the poor or under privileged, rather having you and I supporting the greed of a few wealthy individuals.
Really, I hear it from those who have lost jobs, had a house foreclosed or even live paycheck to paycheck spout the mantra over and over, “The Street… .”or worse that worn out Republican talking point on how the American worker is at fault for being paid a livable wage.
“We must reduce the influence of unions….to increase our corporations competitiveness in the world” Code for doing away with a middle class able to consume the products, goods and services of the country. Simply lowering the wages and standard of living that was the American dream of millions of Americans.
As long as the Republicans and Wall Street dictate and drive the slowest recovery in recent history. Americans are doomed to suffer layoffs and financial distress. The President must take the lead in starting the economy that the “Street” created through their greed and short term planning. There will be no jobs created by the Republicans and Wall Street through more tax cuts and outsourcing/off shoring of our jobs.
It’ll never stop. With the control the right has on all of the media, we will be spoon fed the mantra that “…Greed, for the lack of a better word, is good.” Yet we can fix all of this during the next election. Cut through the “Job Creator” lie, elect those with a plan to fund the recovery and make it happen. Put an end to the greed. It’s a simple fix.