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Daily Archives: July 5th, 2018


With the 24 hour news cycle we currently get, it is difficult to always get at the truth of all of it. An Aldous Huxley quote offers us this: “Facts do not cease to exist because they are ignored”. If you do not like what the administration is doing then vote against them. This is quite simplistic but gets to the point of voting. We have so many differing opinions on what is said in the media as to be easily swayed by sensationalism and entertainment type information. The major “news” channel that uses up much of the oxygen is “Faux” which has headliners whose sole objective is “gotcha” interviews and line item twisting of facts. It is our personal choice as to what source we use for our news and information however that source should be as even as possible and fact based. Getting to the truth is much harder than distorting it. The road to the truth is rough and requires diligence but the destination is more rewarding than the shortcuts along the way. Our sole objective should be to take the extra time to find the truth so we can elect proper representatives who have the interest of America in mind rather than special interests whose objectives are not in the best interests of us all. The lines have been blurred for  a long time when it comes to Church and State relations. Our politics ought not be tempered by religious beliefs nor should Religion be tempered by Politics. It appears that crossover will plague us if the replacement High Court Justice has specific leanings based on political party and religious belief . Historically religious zealots have caused more harm than good as have Political radicals who made others suffer in the name of a deity or other demons (sometimes of their own making). Essentially the solution is:gather as much (correct) information as you can and keep your religious beliefs in the Church where they will not be subject to the corrupting influence of politics.

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How Big Business and Big Banks Are Using Their Tax Windfalls. In the topsy-turvy world of the past few weeks, it’s comforting to know that some things haven’t changed. Economic inequality, for instance, continues to surge.
Recent data make clear what any sentient observer could have predicted a year ago: The benefits of the Trump tax cut have gone chiefly to major shareholders, with little to no impact on either corporate investment or workers’ wages. “For the remainder of 2018,” S&P Global’s Howard Silverblatt told The Washington Post’s Heather Long, “expectations are high for record corporate expenditures in both buybacks and dividends.”
Indeed, in the first quarter of 2018, stock buybacks were the highest ever recorded ($189 billion). By contrast, wage increases are just keeping pace with inflation, and Morgan Stanley reports that capital spending by American corporations is “past its peak.”
Of course, you can’t invest or give your employees raises if you dole out all your money to your shareholders. Last week, after the Federal Reserve announced that all six U.S. mega-banks had passed their stress tests, the banks announced how much they planned to funnel to their shareholders over the coming year. The New York Times compared those numbers to the banks’ forecasts of how much they’d earn in the coming year, and the results tell us a good deal about the absurd state of the American economy. Bank of America planned to direct 95 percent of its anticipated profits to its shareholders in buybacks and dividends; JP Morgan Chase came in at 98 percent; Citigroup raised the ante to 128 percent; and not to be outdone, Wells Fargo won the bidding at 141 percent. (Morgan Stanley and Goldman Sachs came in at 80 percent and 69 percent, respectively, but these lowball numbers may be due to the fact that, as investment banks, they not only have to pay their shareholders but their many partners as well.)
How much, exactly, that leaves for loans is a good question. ~ HAROLD MEYERSON

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