Thursday, April 30, 2009
Long live the Capitalists!! Job Cuts Avert Catastrophic Quarter as Profits Excel
Capitalism often thrives at the expense of workers and wage earners. Here is a classic example: Q1 corporate profits weren't bad at all, but only because workers got laid off in massive numbers.
If you are going to survive in our current model, then you have to think like a capitalist: invest in stocks, own a business, seek to control capital--both physical and human.
If you think you're gonna get a good job that pays well and have long-term job security you're only kidding yourself. Even Obama is not on your side. Look at his remedy for the autoworkers: throw Chrysler to bankruptcy. GM is probably next. Good for capitalists, bad for workers.
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4 comments:
Dude,
I just saw Peter Schiff own you on the December 31, 2006 broadcast of Fox News. The best part was how you were laughing at him when he was completely right and you were completely wrong. Thanks for the entertainment. If it wasn't for arrogant jerks like you, it wouldn't have been nearly as funny. What a tool you are.
Alan,
The REAL funny part was how he blew out all of his clients' money, even though he "called the housing bubble and said the dollar would collapse."
Hahaha!!
Keep drinking the Kool-Aid!!!
Oh yeah, I forgot the part about when he said, "Foreigners will sell Treasuries and interest rates would spike!"
Even if the "foreigners" as Schiff indicated were to sell out treasuries even right now, they would lose themselves by very act of selling out - depreciating their own stake by their selling action.
The Treasury / Fed would reap again with Forex swaps to maintain a position, to expand the monetary base to prevent bank runs, and the USA would profit and the tax payer would not be on the hook because we are able to keep interest rates low to keep business and consumers going to the extent of what the gov can do.
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