Real solutions for a financial recovery which do not cost a single tax dollar.
It's simple, much if not all of what ails us economically can be solved without costing one thin dime, that is what we mean by a ZERO COST RECOVERY.
Many of today's ills have come from easily reversible causes, here are a few to start you thinking:
- The Bible condemns usury (sort of); whether or not you are religious, this make great sense.
- Big Banks don't work for America or Americans (or anyone else for that matter). Consolidation was touted as a way to lower costs, provide better service and more affordable fees to customers. Can anyone show me an example where these promised economies of scale came to life? How about the lower fees and better service?
- Bigger is not better, that is why anti-trust legislation was enacted. Today's financial crisis was brought to a head by the unvarnished greed of the giant banks, financial institutions and corporations with the complicity of the majority of our legislators, it is just that simple.
- The "Free market" is not the cause of this problem, the fact that it has been castrated, prostituted and redefined by the greedy is. "Free market" does not mean a market without rules, or domination by the richest and most powerful. Without meaningful competition, free markets cannot, and do not, exist - period.
Rollback, update and aggressively enforce meaningful anti-trust & financial sector regulations and the root cause will be eliminated. How about requiring a binding contract guaranteeing that all consumer beneficial promises be a part of all mergers and acquisitions? To be effective, it should include an onerous non compliance clause!
- "A Free & Independent Press is the Cornerstone of Democracy". I don't know who first said it, but they were spot on. Today's media does not hold the rich and powerful accountable, it is owned by them; they are at the core of the problem.
- Food costs have more than doubled, yet the family farmer is struggling while large corporate farmers are getting huge subsidies. One solution would be enacting anti-trust legislation that forbids the huge conglomerates which are so dominant in critical industries from operating at more than one level in the manufacturing and distribution chain.... Grow it, process it, distribute it or retail it - choose one!
- The price of oil at the well head is dramatically different from the price we see quoted on the TV each night. The difference is created by speculators in the commodities markets (the same holds true for food and other vital commodities). Force the CFTC to re-institute the commodities speculation guideline that were in place prior to 1990.
- Big Pharma spends far more on marketing and lobbyists than on R&D, some say the figure is twice as much. How much do you think this adds to what your prescriptions cost? Lobby our legislators to allow Medicare to negotiate drug costs with their manufacturers and watch prices fall to the levels enjoyed in most other countries.
- Health care costs are skyrocketing yet Physicians pay has decreased dramatically. How much do you think the near monopolies in Health Insurance and HMO's contribute to this?
Tuesday, August 2, 2016
Obama reneges on two more vitally important promises to 90% of American people!
Friday, July 29, 2016
An open letter to Hillary Clinton, from "Never Hillary" to "Reluctantly and Cautiously Hillary"
An open letter to Hillary Clinton, from "Never Hillary" to "Reluctantly and Cautiously Hillary"
Wednesday, March 2, 2016
My takeaway from 2016's Super Tuesday
Saturday, December 17, 2011
Keystone XL & Dakota Access, let the builder bear the risks
There are several core concepts that are critical to any discussions about Keystone XL, and Dakota access, and are generic to all other high-risk / high-profit projects. Before moving forward with their development, I think these issues must be fully addressed, understood and resolved.
- Who should bear the responsibility for disclosing the true risks associated with the development and operation of these ventures, and to what extent should they be held accountable for misrepresenting them?
- Who should be held accountable for misinformation disseminated through the media in support of their project, and to what extent?
- Who is in the best position to know how risky a given project is? This includes those which are hidden either for a lack of information, or those which are purposefully hidden to further a hidden agenda.
- Who should be granted the authority to make the social cost-benefit decisions regarding them? Shouldn't it be the people who bear the greatest cultural burdens and greatest risks?
- Who should be held morally, financially, and criminally liable for accidents and malfeasance? Should society at large bear the costs of their accidents, corner cutting to minimize costs & maximize profits or their wanton disregard for the welfare of all living things (including our kids) and the environment? I think not!
If and when something goes wrong, is it the corporations and governmental officials who promote, build and oversee these projects that should bear the full burden in all its glory? Should we allow them to be protected from criminal and financial liability by passing laws which provide the safety and security of corporate shields or official immunity?
Rather than transport extremely hazardous materials across America's heartland at great risk by pipeline, rail or truck, why not build a new refinery at or near the point of entry to the US? Wouldn't this create just as many jobs, or far more (many of which would be highly skilled and long term), greater cost effectiveness, and lessen environmental risks dramatically?
Although it is far too big an issue to do justice to here, let's keep in mind the tremendous value of clean water, fertile land, and all living thing, not to mention the importance of insulating them from all reasonable risks.
The proponents of these pipelines are advertising that the pipeline itself will be totally safe and environmentally friendly. Their ads clearly state that the end product will be environmentally cleaner than "many" existing fuels, and that might be fantastic depending on the precise meaning of the statement. Based upon precedent, this is the diametric opposite of reality.
In an effort to reach fair and equitable solutions to all of these questions among honorable people, why not attach rigid contractual obligations to any permit requiring that all of their promises be truthful and carry guarantees that they bear fruit. If their claims are true, there can be no reason to object, if they are false it is fraud and those responsible must be held fully accountable.
They say the project is safe and will cause no damage to America, Americans, or the environment. Frankly, we've all heard that song before and reasonable human being wants to repeat past failures. In spite of Exxon and BP's claims that they have been good citizens, their TV ads showing how they restored utopia, and that they were/are totally committed to 100% restoring the environment and compensating every person and business damaged buy their oil spills, this bears no resemblance to reality. Both companies thrive, while countless Americans and our ecology suffer the unfathomable consequences of their irresponsible actions.
Before allowing these projects, and others like them to move forward, it is only good sense to require their backers and investors to have a comprehensive indemnification plan in place. It must assure the resources required to fully and promptly return to whole every single person, business large or small, wildlife species, or piece of public land damaged by their project are in place and readily accessible. The potential liability is far beyond huge and the indemnification must be up to the full value of the company, its affiliated corporations and shareholders - no exceptions. It must be backstopped by insurance sufficient to totally cover any and all shortfalls. Huge projects offer huge profits, but they also present huge risks which must be 100% born by those who are in a position to reap the gains. It's only fair and right. America and the American people cannot continue bearing these burdens and costs.
Frankly, the developers will never accept these conditions because they know the magnitude of the serious risks. Risks they are completely willing to place upon the American people, but not upon themselves, and that is why this plan should be rejected out of hand. Keystone XL, Dakota Access, and other similar projects are terrible deals for America and must be permanently stopped.
Sunday, November 27, 2011
Revisiting the Boston Tea Party
They come from many different backgrounds. About one-third are skilled craftsmen, a much smaller number are professionals, doctors, educators, lawyers, merchants, and the like. Although we do not know the occupations of all the participants, the majority are students and from the working class. About two-thirds are under 20; few are over 40. Most are locals, but some came from great distances. They have one thing in common, they are committed in opposition to a government which ignores the needs of the people in favor of the rich and powerful. Regardless of their financial or social origins, they work as a team of self-sacrificing patriots against an oppressive and seemingly all-powerful enemy. Although the words were yet to be written, they stood for “the Right of the People to alter or to abolish any Form of Government that becomes destructive of inalienable rights of men such as Life, Liberty, and Pursuit of Happiness”.
Copyright Fred Schwacke 2011-2017
Sunday, November 13, 2011
WSJ China comments
- Fred Schwacke wrote: (your comment)
- 8 hours ago
- Zilong Zhao replied:
Are you nuts?Recommend
1. When US was at the peak of her industrialization, did she consult or ask for agreement when she polluted the environment and burnt so much fossil fuels relative to others?
2. What do you mean by subsidizing exports? What do you think US has been doing for decades to protect her agricultural sectors? And when you are talking about subsidizing, didn't you think of Solyndra and the other two solar companies that received massive subsidies but went bankrupt. How about the bailing out of US banks, GM and Chrysler? Don't you get any goose pimple for being such a hypocrite?
3. If you want to trade on a level playing field, you need to get your country's fiscal and monetary policies fixed instead of demanding others to heed to US senseless commands.
4. Don't accuse other countries of illegally gaining US military and industrial secrets. If US have the proofs, please expose them to the world, otherwise whining daily on such accusations are nothing short of stupid and barbaric. Accusing others without facts is an easy and coward thing to do.
5. Don't think that US can force China of anything without seriously causing more damages to itself. US would not have restrained herself from doing anything to gain and take the fullest advantages over others.- 1 hour ago
- Alex Temenid replied:
While the US does indeed need to address its fiscal concerns, to balance its current account it also has no choice but to adopt the merchantilist policies of nations like China.Recommend- 29 minutes ago
- Fred Schwacke replied: (your comment)
I appreciate your comments and totally agree with some. We definitely abused the environment in the past when arguably we did not understand the consequences. Unfortunately, to a lesser extent we still do. Although the unenlightened self-interest of some forms their defense against incontrovertible scientific evidence, the importance of protecting the environment is perhaps today’s top priority. The fact that we made mistakes in the past does not justify their continuation, nor does it justify supporting the ability of others to profit from similar abuses.
As a Nation we certainly made massive investments in our agricultural sector resulting in America becoming the world's leading food producer. It must also be said that China forbids the importation of U.S. beef. There were, and still are, wrongs and abuses done along the way, and the people of America are fighting to correct them. Bailing out the auto industry was a hard pill to swallow, but Main Street overwhelmingly saw the importance of supporting one of the most important sectors of our economy and its industrial base. This was Americans supporting Americans through loans, not subsidies. Although imperfect, this worked brilliantly by saving jobs, an entire industry, yielding a line of far superior products, and re-inventing what promises to be a healthy cornerstone industry. Let's not forget that those loans are being repaid. It is America at its best and requires no apology.
Regarding Solyndra et al, there is no question they have failed financially at our taxpayer’s expense. The questions are how they fit into the big picture, what underlying benefits they produced, why they failed, and what can be done to minimize the chances of it happening again? Clearly, there are hidden internal factors which led to these failures, and questions about the wisdom of these specific investments.
In fairness, China’s huge subsidization of their solar industry enabled anti-competitive dumping and the resulting artificial depression of worldwide market prices. These subsidies, made possible largely by their blind eye on human rights and ecology, made a huge contribution to these failures. How would this have been handled in China; even bigger subsidies?
Creating national initiatives make good sense when developing important technologies for the future, both here and internationally. Our space program is a shining example of what they can achieve, and also the errors which need to be addressed. Keep in mind, the resulting economic benefits this investment has been enjoyed around the world.
You are 100% right, bailing out the massively corrupt U.S. financial system was a big mistake, it is truly “too big to succeed” and anti-competitive. Our financial policies are seriously flawed and need a thorough overhaul and the main stream of American people are aggressively fighting to correct these problems; in spite of the real obstacles in their path, they are showing signs of winning.
Your comments about China’s national policy of IT and technology theft is self-serving and disingenuous. While deny, deny, deny is a popular defense for the indefensible, it is always transparent.
I’m not demanding anything from China, or anyone else, I’m simply saying if you want access to our markets, your products must adhere to our rules and standards. Every nation has that right. There is a huge debate here as to what those criteria should be, but although the effort to compete with less enlightened competitors is clouding the discussion, we are moving in the right direction. America cannot allow others the power to force us to follow their path.
In the end, it may be seen by some it as hypocritical & by others as pragmatic or unrealistic, but we must put America first, just as China is. At the same time, we must benefit from 20/20 hindsight and do it sensibly and honorably, with a major emphasis on protecting our hard earned technologies, human rights and the environment, and we have the right to expect the same from those who want access to our country and its markets.
- 1 hour ago