PUBLIC ADVOCACY: Financial Reform

The New York Stock Exchange, the world's large...
The New York Stock Exchange, the world’s largest stock exchange by market capitalization (Photo credit: Wikipedia)

I’ve been listening intently to talks about The Budget and deficits ;  especially when folks mention slashing entitlements to provide extra revenue.   I agree with slashing entitlements, but my definition may differ from those mentioned .  For me, it’s a no- brainer, to start with farm subsidies . I don’t believe the working poor should pay to subsidize farmers who are too big to plant. Nor do I wish to purchase insurance or hedges for farms that gross more then $250,000. Who bailed out or protected small businesses and retail against loss in this Nation? The elimination of farm subsidies might be a good beginning to raise capital ? It’s a thought and a choice?

Next, slash oil and gas subsidies. Since we have enough fossil fuel to last decades why support more exploration when we still require development of alternative fuels.  It may make sense to pay for less oil and more alternative fuels?

Speaking of Revenue,  why not look at the” benefits” of Corporate Welfare”?   Isn’t  it great , the American worker, in fear for his job , has become more productive. Thanks to the American worker, rather then investing in new products, more factories and more jobs, the Corporations are able to buy back Billions in stock and reward their shareholders.

When I attended Berkshire Hathaway Meetings, Warren and Charlie, would say, we don’t give a dividend because we can invest your money better then you can. But today’s companies, don’t invest in new companies or businesses or creative processes of development, they buy back stock and give more money to shareholders. The shareholders are happy and the Corporations become stagnant.

Unfortunately, with the Fed propping up the stock market, the market and the Corporations represented are guaranteed to make profits, no matter what they do or don’t do. In fact, with the governments help, and the change in accounting rules,Wall Street has contributed to the GDP.   Wall Street, not Main Street , is the reason for the 4.1% increase in the GDP.   THIS IS AN ARTIFICIAL #, a rigged system is contributing to the increase in GDP. This # has no relevance and does not consider the numbers of unemployed or under employed American workers!   The majority of Americans will be unable to participate in the market’s rise and they will forever be barred from making “real ” money . Even if wages increase, if no new jobs are added, how will the Middle Class sustain itself? This is a vicious cycle for everyone, unless and until, we agree that we need another choice?

We are destroying American business , by allowing them to become cash machines rather then producers of products. Businesses are meant to take risks and invest in their Communities. We should stop worrying about Technology and start worrying about people. The people’s needs still have to be met. The challenge is to think big picture and get us out of the mess we have created. The People who committed fraud , may make up 1% of all our problems, but their more sophisticated counterparts in government, banking , and business brought the Country to it’s knees . It’s time to look at The State of our Nation and think solutions and stop kicking all the problems down the road till 2015, or 2018? Those dates will arrive, but we’ll never be ready unless and until we change our mindset.

The Country has money. As Americans, we merely have to rethink our priorities and reallocate funds. There are ways to control waste and tap into bank and “bank lite structures ” to create capital and decrease their risk to our Country. Several hedge funds are sitting on Trillions.  How are they contributing to Main Street?

I think we can agree that the Fed is destroying our economy by enabling ” Wall Street and Corporate welfare“.   Additionally, though well intentioned,  it’s  also destroying the mortgage market for average citizens.   Since the Fed is buying mortgaged backed securities , banks aren’t lending to homeowners.  Banks are hoping interest rates will go up and they don’t want to hold mortgages with low rates. They want you to purchase variable rates, instead, if they are forced  to work with the Public, at all?   While the Fed is trying to keep interest rates down, they are further enabling the Banks.  The banks are now free to gamble, charge outrageous fees and profit usuriously?

You don’t have to ask why the middle class can’t get ahead. There is no money in the system for them. There’s no creativity , there’s no thought of putting more people back to work. Yet we have time to flex our muscle against China? At least they have a 7 yr plan to reform their economy. What choices are we going to make?

24 thoughts on “PUBLIC ADVOCACY: Financial Reform

    1. Thanks for your support.
      I will continue to post articles on Finance.
      I believe Financial reform is the key to restoring the Middle Class.
      All the best. Joyce

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    1. Hi there:
      Thanks for your kind comments.
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    1. I think you’re doing the work now.
      If you’re writing in your journal daily, you’ve begun the process.
      I started with Journals, which I could no longer decipher, emails and twitter.
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      Like anything, once you start, it’s easy.
      All the best. Joyce

    1. Thanks for your kind comments.
      I love to write, especially about finance.
      The flow of Money effects all of us.
      Please continue to read, share with friends and comment.
      All the best. Joyce

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