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Posts Tagged ‘oligarchy’

Bill Moyers on the American Oligarchy

Posted by Larry Doyle on April 24th, 2014 11:15 AM |

Prior to correcting a problem, one needs to identify and expose it. That said, bringing about real change is challenging when the interests of those charged with protecting and promoting the public interest are outweighed by their personal pursuits and willingness to trade their position for payoffs.

Make no mistake, this reality is ultimately a failure of leadership on so many levels. Bill Moyers offers a few minutes of cutting commentary on the growing presence of an American oligarchy.

The quid pro quo system of governance practiced by our elected officials and regulatory executives allows for a host of corruptible practices including a tax structure that does not advance our national interests, economic and otherwise. (more…)

Ambulance Chasing on Wall Street

Posted by Larry Doyle on April 12th, 2010 10:58 AM |

What is driving our markets higher? A rebound in earnings along with a rebound in the economy, correct? Well, let’s take a quick look at corporate earnings.

Thanks to our Sense on Cents Hall of Famer and resident Economic All-Star David Rosenberg, we learn this morning that:

Financial sector profits have accounted for 85% of the overall increase in corporate earnings.

When I read this, I immediately think of the market akin to that gutless driver who jumps behind an ambulance as it screams down the street. Who is in that ambulance? Main Street. Who is in that car getting the ‘free ride’? Wall Street. (more…)

Price Fixing on Wall Street?

Posted by Larry Doyle on April 9th, 2010 11:16 AM |

Lessened competition in any industry will lead to wider margins and greater revenue and profit opportunities.

Wall Street circa 2010 is certainly a dramatically changed landscape with significantly lessened competition. Is Wall Street today an honest display of capitalism in which ‘to the victors go the spoils’? Or is Wall Street an oligopoly which is using its increased power and leverage to control, if not outright fix, prices for products and services?

In the midst of all the other issues Washington is facing, I think there is very little focus on this topic, but we overlook it at our peril. Why? Price fixing, or iterations thereof, is nothing more than a vehicle to transfer wealth from consumers to providers. (more…)






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