Tuesday, June 29, 2010

Two great quotes...

A Facebook friend of mine posted these and I thought they were excellent!

"Working people don't rise to the task because they have been propagandized into believing that "fiscal austerity" is something that needs to be done in order to save their children from an even worse fate. What actually needs to happen in a deflationary collapse is to spend more money into the system, not pull it back out by paying off the federal debt; but the money needs to go into the real economy - into factories, farms, businesses, housing, transportation, sustainable energy systems, health care, education. Instead, the stimulus money has been hijacked, diverted into cleaning up the toxic balance sheets of the financial gamblers who propelled the economy into its perilous dive."
- Ellen Brown

"Creating capital for business has to be less than 1pct of the volume on Wall Street in any given period. . . . My 2 cents is that it is important for this country to push Wall Street back to the business of creating capital for business. Whether it's through a use of taxes on trades, or changing the capital gains tax structure so that there is no capital gains tax on any shares of stock (private or public company) held for 5 years or more, and no tax on dividends paid to shareholders who have held stock in the company for more than 5 years. However we need to do it, we need to get the smart money on Wall Street back to thinking about ways to use their capital to help start and grow companies. That is what will create jobs. That is where we will find the next big thing that will accelerate the world economy. It won't come from traders trying to hack the financial system for a few pennies per trade." - Mark Cuban

And I don't usually agree with Mark Cuban, but I think he's right on this one!

1 comment:

Brantley said...

CUBAN, ----BLAH! BLAH! BLAH! blah! blah!........
He's dreaming and anyone that thinks that will happen doesn't know Corporate America. What a joke. Corporate America, Wall Street, Bankers. Gov.... will NEVER police themselves into doing anything that doesn't serve their pockets directly & COMPLETELY. (I might add, at the expense of anyone/ anything).

Regulations are overlooked everywhere, cost vs. paying fines are SOP - kick the can to somebody else's court. There is no moral conscience operating in most upper management in any Fortune 500 companies ----- including their boards. The examples are endless.

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