Conflict resolution skills are paramount in order for anyone to have confidence in U.S. leadership, the economy, and work force. As reported this week in the Guardian News and Media Agency,
The US government shutdown debacle has hit investor confidence within the eurozone, according to the latest data from German research firm Sentix. Sentix's monthly measure of investor sentiment dropped to 6.1, from 6.5 in September. Analyst had expected the index to jump to 8.0, but it appears morale has suffered from the deadlock in Washington. Sentix reported that investors' current assessment of the United States, and the assessment of prospects in six-months time, has been noticeably damaged by the budget row and the debt ceiling fears. Its headline index for the US dropped to 16.8, from 24.8 last month. Overall indices for the emerging markets regions rose, while those surveyed remain optimism for Japan's prospects.
Have you reached your patience limit with what is happening in the U.S. government as of yet? If you have time to read this article, call your U.S. Representative now to be on record that you want the government re-opened and the debt ceiling lifted without conversation.
The time for any conversation with John Boehner, or any other persons, in Congress is over. Our duly-elected President must act quickly to repair the damage to our national reputation and investment markets. Before U.S. truckers leave their routes to blockade highways, how much more national and international embarrassment can America tolerate? How much is sustainable? We don't want the answer to these questions. It may be later than any of us might imagine.
AFT Congressional Call Assistance Tool:
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Contact your representative and tell him or her to put country before politics and that you want the government re-opened and the debt ceiling lifted without conversation.
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A Comedy of Errors? This is no laughing matter.
Live Shutdown Updates: Dueling Press Conferences
China warns US over debt ceiling as deadlock hits markets - as it happened
Traffic Shutdown? Truck drivers plan 3-day protest on Capital Beltway
Climate activists have to get outside Washington, build organizational networks across the country, stretching “far beyond friendly congressional offices, comfy board rooms, and posh retreats,” said a report by Harvard professor of government and sociology Theda Skocpol.
Phaedra Ellis, chief executive of Green for All, a San Francisco-based multicultural environment group, wondered whether the funders of mainstream groups are driving the divide.
“We’re applying for this grant, and they say don’t put in there the part about people of color and low-income. And we said, if you don’t want this in the proposal, we’re not a group you want to deal with.”
Tom Goldtooth, executive director of the Indigenous Environmental Network, based in Minnesota, said they need “to put a human face on the issue.”
Goldtooth said his network works with groups such as the National Wildlife Federation, attempting to stop the Keystone oil pipeline from extending across native lands from Canada to Texas. But big groups generally approach them only when they need something.
They “will not step up to fully support native rights,” Goldtooth said. “They’re allies of ours . . . [but]it’s not just asking us for help when they need it.”
Book Title: Climate Controversy 2013
Mitt Romney claims that his essential qualification to be president is grounded in his 15 years as head of Bain Capital, from 1984 through early 1999. According to the campaign’s narrative, it was then that he became immersed in the toils of business enterprise, learning along the way the true secrets of how to grow the economy and create jobs. The fact that Bain’s returns reputedly averaged more than 50 percent annually during this period is purportedly proof of the case-real-world validation that Romney not only was a striking business success but also has been uniquely trained and seasoned for the task of restarting the nation’s sputtering engines of capitalism.
Except Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way-out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale-the faster the better.
That is the modus operandi of the leveraged-buyout business...in an honest free-market economy, there wouldn’t be much scope for it because it creates little of economic value. But we have a rigged system-a regime of crony capitalism-where the tax code heavily favors debt and purposefully enables rampant speculation by propping up the price of financial assets and battering down the cost of leveraged finance.
So the vast outpouring of LBOs in recent decades has been the consequence of bad policy, not the product of capitalist enterprise. I know this from 17 years of experience doing leveraged buyouts at one of the pioneering private-equity houses, Blackstone, and then my own firm. I know the pitfalls of private equity. The whole business was about maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible. Occasionally, we did invest in genuine growth companies, but without cheap debt and deep tax subsidies, most deals would not make economic sense.
‘The Great Deformation: How Crony Capitalism Corrupts Free Markets and Democracy’ by David A. Stockman. 400 pp. PublicAffairs. $29.99.
In truth, LBOs are capitalism’s...vulture investors who feed on failing businesses...they have now become monsters of the financial midway that strip-mine cash from healthy businesses and recycle it mostly to the top 1 percent.
This article was sent by Byron A. Ellis, PhD, Executive Director of Jethroproject.com
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Pamela Ellis, PhD
President/CEOHarambee Conference, LLC.
Saturday, October 13, 2012 - Article of the Week:
Loyalty's for Chumps on the Street: Bankers' Man in 2008, Obama's been Dumped by the Money Men
The choice is so clear... Actually, it is the tale of two countries. Wall Street always knew that Obama was trying to pull the wool over their eyes, and surreptitiously wanted to change the "preferences for some" equation. Romney is "genuinely" the man willing to take gullible "victims" "to the bank."
Everyone should vote their version of American values. Wall Street's Deception, i.e. for the Uber Rich, or with worthy contributors to candidates "Education, Microsoft, Google, and trade unions." Vote Early!!! What mistakes Obama has made pales in comparison to a ruling hierarchy of 120,000 families... We know that "over 90 percent of the nation's financial assets -- including stocks and pension-fund holdings -- are owned by the richest 10 percent of Americans. The top 1 percent owns 38 percent...The 400 richest Americans have more wealth than the bottom 150 million Americans put together." (Reich, 2012). Good government cares for those at the bottom "first."
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Pamela Ellis, PhD
President/CEOHarambee Conference, LLC.