Uncle Jay Explains 2008 - Happy New Year!

Thank You Mr. Obama

....for appointing Hilda Solis as our new Secretary of Labor.

She's the daughter of a Teamster shop steward and a member of the United Rubber Workers.

Hilda Solis:

Quote: "When union people get paid good wages, that money stays in the community, it helps to provide a vibrant economy, it helps to also even send their children like me . . . to college and eventually run for office. Wow. Outstanding," she said, speaking out for the Employee Free Choice Act last year. "The unions always get a bad name by certain people in [Congress], but I'll tell you one thing: I'm proud to stand with many of our union members to see how they have revitalized many of our communities."

There's Your Sign

The top ten highest paid hedge fund managers in 2007:

Name: John Arnold
City: Houston
Firm: Centaurus Energy
Age: 33
$1.5-2B

Name: James Simons
City: East Setaucket, New York
Firm: Renaissance Technologies Corp.
Age: 68
$1.5-$2B

Name: Eddie Lampert
City: Greenwich, Connecticut
Firm: ESL Investments
Age: 44
$1-1.5B

Name: T. Boone Pickens
City: Dallas
Firm: BP Capital
Age: 78
$1B-1.5

Name: Stevie Cohen
City: Stamford, Connecticut
Firm: SAC Capital Advisors
Age: 50
$1B

Name: Stephen Feinberg
City: New York
Firm: Cerberus Capital
Age: 47
$800-900M

Name: Paul Tudor Jones
City: Greenwich, Connecticut
Firm: Tudor Investment Corp.
Age: 53
$700-800M

Name: Bruce Kovner
City: New York
Firm: Caxton Associates
Age; 62
$700-800M

Name: Israel Englander
City: New York
Firm: Millennium Management
Age: 58
$600-700M

Name: David Shaw
City: New York
Firm: D.E. Shaw & Co.
Age: 55
$600-700M

Well, this explains a lot of things for me. For one thing, it explains how T. Boone Pickens had the money for incessant advertising during the pre-election season. I knew anybody spending that kind of cash on advertising and "info-mercialing" was leveraging for something, and as much as I'd like to see wind energy become a relevant reality Mr. Pickens has made all those little "predator alert" hairs on the back of my neck start to prickle. I will now be looking for the "billionaire in the woodpile" of wind energy from now on.

The other thing it explains to me is how completely stupid we are as a people. Sure, I knew there were people in this country making lotsa money. For me, that's certainly anybody pulling over 250K a year. The national poverty level is 20K. Anybody earning over 50K a year is doing pretty darned good.

What I truly had no concept of, and I think I'm not alone in this, is that there are actually people in this country who measure their annual salary in billions.

Pardon me but, WTF? Did they finally invent the Orgasmatron???

I mean, seriously, what product, knowledge or service could they possibly be providing the masses, that was of such a unique and tremendous value, that "we" see fit to compensate them in the BILLIONS?

To top it off, the top earner, Mr. John Arnold, was only taxed at 15% rather than the 35% tax bracket he should have been hit with. So his maid pays a bigger bite than he does. Nice.

I truly believe that most of us working stiffs have no idea how much money these guys take from the coffers. (and I did notice, they ARE all guys).

A lot of the youngun's I talk to these days are either too young to remember the 80's or they spent the greater part of that decade playing video games. They don't remember the wave of restructuring that swept through American business with leveraged buyouts and hostile takeovers. What I remember was this:

Wall Street investors targeted good, financially stable business for takeover. Once acquired they enacted a slash and burn program.

• They wiped out product research and development (and the funds set aside for R&D went into deep pockets),
• They fired the seasoned, experienced (knowledgeable) employees and replaced them with cheaper, dumber younger employees, (and the resultant savings went into deep pockets)
• They completely did away with HR departments and not only lost the "soul" of the organization they lost the knowledge of how to follow State and Federal employment laws,
• The company would eventually be forced to dissolve, liquidating all assets and again, pouring money into those self-same deep pockets.

I remember one Friday morning in 1989 when we were all called into a "department meeting", complete with doughnuts and coffee and the usual "staff meeting" BS. We were just a wee bit confused because we'd recently had a staff meeting and there seemed to be nothing new on the agenda. After a few minutes the President stuck his head in the door and said, "It's OK to tell them now."

What we were told was that the entire HR department had been fired, along with the Customer Service Manager. The Customer Service Manager was three months away from retirement. They'd been given 1/2 hour to clean out their desks and disappear. We were all denied the opportunity to say goodbye, grieve together, and tell them how much we cared about them.

We were also denied the opportunity to start a riot.

I get really tired of the milksop platitudes that say that corporations are not evil. That CEO's and Execs are just doing what they are supposed to do to serve the Corporation and make profits for shareholders. Well, fellow shareholder, how do it feel? Have your best interests been served?

Corporations are organizations made up of humans, run by humans, for the benefit of humans. Human beings really do know the difference between right and wrong. When humans make decisions that are damaging to the larger number of other people, while creating huge profits for themselves and a select group of individuals.......that cannot be excused as being good and wholesome because it serves the interests of Capitalism and the Corporation.

When Humans make decisions that destroy the lives of people, while making certain individuals wealthy beyond what the mind can envision................that's evil.

Affluenza

A freind shared this with me. It's well worth watching.

The Cult of Capitalism

I've mentioned before, I grew up in a religion that was so freakishly fundamental it would make Jesus weep. That's why I know a cult when I see one.

In reading various blogs and forums about this current economic mess we're mucking about in, it's obvious to me that a huge segment of our population has succumbed to the Cult of Capitalism.

Here are some signs you may be dealing with a cult:

Are you told not to question what is being taught because the leaders are honest and want the best for you so you must trust them?

The Free Market system is God's will for mankind. You must submit to God. (seriously, don't you sometimes get that feeling when talking to some of these folks?)

I just read today, "they have operated outside of the rules of pure supply and demand" and "it's a shame that during this time of pure capitalism events we seem to think we should "do something" non-capitalistic like bail outs".

That would be the brainwashing, telling him there is only one solution to every problem. (trust Jesus, praise God and don't question the Cult)

Are you made to feel your failures, that your performance is not up to par for the bibles standard.

If you have just lost you entire life's savings, your home and all hope of security for your family and your future, well, obviously, you've done something horribly stupid. Better yet, you're one of the lazy mofo's who obviously expected ME to bail you out. God will forgive me for laughing at you while your children go hungry.

In fact, God loves me best.

"The market" cannot be blamed for your incompetence and those who profited greatly by your mistakes have no obligation whatsoever to extend a hand in your time of need.

Are they putting down other church’s and building themselves up. Do they sometimes use people as examples of what you are to be doing and others on what you are not to be doing.

Rich people acquire wealth through good, old fashioned hard work. We should love them. Admire them. And seek to emulate them.

If you're not rich, you're just not working hard enough.

Do they put down others to make themselves look better, calling themselves righteous and others unrighteous.

I paid my bills! I didn't take a mortgage I couldn't afford!!! All the stupid lazy bums who did should be living on the street just to prove how superior I am!

Do they defend all that they do even though it can be harmful or wrong.

Seriously, how can we keep flogging the dead horse of runaway Capitalism given the obvious results? I do know that a fundamental characteristic of Capitalism is "boom and bust" cycles. When we "boom" the rich get richer and the rest of us finance that wealth, as there is no creation of wealth without labor. When we "bust"...........why is it so unreasonable to expect that there be something in place to soften the blow for the guys on the bottom?

One thing I do know with absolute certainty. As long as the middle class and the poor are down here bickering with each other, we're giving the rich and powerful complete freedom to do with us as they will.

How Embarrassing! These Chicks Need A Life

I am embarrassed that some video game developer, somewhere, thinks grown women would find this an intriguing game.




Apparently, I'm not the only one who thinks so.

Just in Time for the Holidays!

Just in time for the Holidays! The Blues are here! Hurry! Don't be late, get yours now!!!

Everyone on this planet has to deal with tragedy and loss. It seems like the older I get, the more they build up. When I was in my twenties I used to lay awake at night and stress over my job. Occasionally there would be some Shallow Hal type to worry about, but mostly it was just my job.

Now I find there are nights I lay awake and watch the endless PowerPoint from Hell. No matter how many times I turn that sucker off, it reboots and starts that damned show all over again.

The Holidays will stir up a lot of sadness for a lot of people, especially with the tough economic future we're all facing. Here are some tips I found for dealing with it:

Do's and Don'ts to Manage Holiday Blues

The DO's of managing holiday blues:

Do follow the three basics for good health:...eat right....get plenty of rest....exercise regularly.

Do set realistic goals:...organize your time....make lists....prioritize....make a budget and follow it.

Do let go of the past and create new or different ways to celebrate.

Do allow yourself to feel sad, lonely or melancholy -- these are normal feelings, particularly at holiday times.

Do something for someone else.

Do enjoy activities that are free.

Do spend time with people who care about you.

Do spend time with new people or a different set of friends or family.

Do contact someone with whom you have lost touch.

Do give yourself a break -- plan to prepare (or buy) one special meal, purchase one special gift, and take in one special event. The rest can be ordinary, but will seem special because of the time of year and the people you're with.Do treat yourself as a special holiday guest.

The DON'Ts of managing holiday blues:

Don't drink too much alcohol. (damn)

Don't overindulge in holiday foods, especially those that are high in sugar and fat. (double damn!)

Don't have unrealistic expectations of yourself or others.

Don't dwell on the past.

Don't focus on what you don't have.

Don't spend money you don't have.