Stupid!
Stupid! Stupid!
I'm
not an economist, I'm an artist, but even I can see that
raising interest rates doesn't do anything but increase the
cost of anything that requires a bank's help to purchase.
And that's a LOT of things.
How about, instead, a windfall profits tax? Now! And how
about an end to companies buying back their own stock with
excess profits?
While we're at it, let's also stop the practice of millionaire/billionaire
CEO's being
paid
with
company stock instead
of easily taxable salaries.
There's a story by the late, lamented comedian, Bill Hicks,
about being on a plane arguing with a businessman over capitalism. Hicks
was on the socialist side of the equation and the businessman,
exasperated by Bill's philosophy, asked if there was anything
wrong with money. Hicks said that if you want to make money
then sell illegal drugs. "Lots of profit in that, right?"
And so, here were are, where corporations ARE making mountains
of cash on the manufacture and sale of drugs, even some (thalidomide)
that should be in the public domain. And others, like insulin
that cost $5 to make but are sold for $1000 a month. And
then there's asthma inhalers, which are dirt cheap across
the Mexican border but $35 or more here in the U.S.
Bill was a bit ahead of his time.
High interest rates may slow the rise of real estate but
it's not going to lower the price of a can of beans or a
chicken wing until we hold out-of-control corporate greed
accountable via every means available.
----------------
And, finally, do you know how to tell if a milk cow is from
Mexico?
It has moo-hair.
=Lefty=
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