Billionaires and corporations can now buy politicians legitimately.
The rich have far, far too much influence on American politics already. 😦
I’m hoping there’s more disclosure on who donated how much to whom, in future. But not optimistic.
Category: government
ultra rich Americans should worry
Unless the GOP changes, they are not going to win many Presidential elections in future. No matter how badly the Democrats run the country.
Nobody believes Paul Ryan cares about the poor.
Republicans are still mostly in favour of the rich getting richer, the poor getting poorer.
DEREK THOMPSON:
I’ve written, over and over, that the most important divide in our wealth disparity was between the 1 percent and the 99 percent. For example, when I compared the evolution in investment income since the late 1970s, I often imagined a graph like this from the Economic Policy Institute, showing the 1 percent flying away from the rest of the country.
It turns out that that graph is somewhat misleading. It makes it look like the 1 percent is a group of similar households accelerating from the rest of the economy, holding hands, in unison. Nothing could be further from the truth.
A few weeks ago, I shared this graph (from the World Top Incomes Database) showing how the top 0.01 percent—that’s the one percent of the 1 percent—was leaving the rest of the top percentile behind.
It turns out that wealth inequality isn’t about the 1 percent v. the 99 percent at all. It’s about the 0.1 percent v. the 99.9 percent (or, really, the 0.01 percent vs. the 99.99 percent, if you like). Long-story-short is that this group, comprised mostly of bankers and CEOs, is riding the stock market to pick up extraordinary investment income. And it’s this investment income, rather than ordinary earned income, that’s creating this extraordinary wealth gap. …
Unveiling the real story behind the richest of the rich
So why should the top .01% of Americans worry?
Soon there’s going to be a backlash.
60 Minutes revealed that the U.S. stock market is rigged:
in the last two weeks, the New York attorney general and the Commodities Futures Trading Commission in Washington have both launched investigations into high-frequency computerized stock trading that now controls more than half the market.
The probes were announced just ahead of a much anticipated book on the subject by best-selling author Michael Lewis called “Flash Boys.” In it, Lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. …
Steve Kroft: What’s the headline here?
Michael Lewis: Stock market’s rigged. The United States stock market, the most iconic market in global capitalism is rigged.
I’ve got nothing against rich people. Lebronne James has earned every penny.
But when I see a dork, stupid billionaire … I get suspicious.
How did this guy get rich?
It’s not smart. It’s not an efficient distribution of wealth to have so many dollars in the hands of so few people, many of whom do not deserve it.
The ultra rich should be prepared to move to that that retirement estate in Belize. 🙂
corrupt South African politicians
Here’s the latest proposal shoveling tax dollars into the pockets of politicians.
Parliament’s new post-retirement travel policy, which could see MPs with 15 years or more of service gain 24 business class air flights a year for 10 years, has been agreed to in principle. It must still be adopted if it is to come into effect.
This policy was agreed to by the national legislature’s highest policy-making structure, the Parliamentary Oversight Authority (POA) …
The new post-retirement travel privileges would see MPs who had served one term of five years receive eight single economy air tickets a year for 10 years; those who had served 10 years getting 16 single economy tickets; and those with three terms under their belts receiving 24 single business-class tickets a year.
This could add tens of millions in expenditure from the national coffers at a time when Finance Minister Pravin Gordhan has called for cost-cutting and savings.
And in a potentially controversial decision, the POA decided that these post-retirement travel privileges should also apply to all nine provincial legislatures, benefiting a total of 430 MPLs, in addition to the 400 National Assembly MPs and 54 National Council of Provinces delegates. The POA report also said there should be no restriction on the number of tickets used by a spouse from this new quota. …
Travel policy set to allow retired MPs to stay on gravy plane
reaction – Proposed retired MP travel benefit slammed
Here’s an overview of the corruption charges against Zuma.
I’ve yet to talk to anyone here who likes Jacob Zuma.
He’s currently being slammed for this scandal.
President Zuma says he shouldn’t have to pay for government paid improvements to his personal home because … he didn’t ask for the renovations.
I didn’t ask for Nkandla upgrade – Zuma
The cost of the refurbishments, which include a helipad, a swimming pool and even a chicken coop, ballooned from the initial estimate of R65m in 2009 to R246m.
South African elections are coming up. Most assume the NAC will win again. Many hope for some kind of strong opposition, however.
Norway the most GENEROUS nation?
American right wing types love to complain that the USA gives away more foreign aid money than anyone else.
If you count GROSS dollars, it could be argued that the USA is the most GENEROUS nation.
If you calculate per capita or per GNP (Gross National Product) the USA drops down the list to perhaps 17th.
Luxembourg, Norway, Sweden, Denmark are near the top of the list, per person.
That said, I’m not at all convinced that foreign aid money is well spent. It could certainly be money wasted. 😦
via KRISTJAN WAGER – Is USA the biggest foreign aid donor? (2007)
SLOW internet in Africa
Internet speed and reliability in southern Africa is crappy. As bad as I’ve seen anywhere in the world.
We postulate that there are not enough cables running under the ocean …
NOT SO.
Oh sure: cables in the Atlantic have a higher capacity than a cable going down the coast of East Africa. … Not to say the cables in Africa are less useful, in fact many are newer…
Africa is in pretty good shape because multiple new cables have been laid so capacity can grow for many years to come, and cables are designed to last for a minimum 25 years.
CNN – This is what the Internet actually looks like: The undersea cables wiring the Earth
So — we should blame the Internet Service Providers of Africa. The “pipes” are not the problem.
Mandela – Long Walk to Freedom
Long Walk to Freedom is an autobiographical work written by South African President Nelson Mandela, and published in 1995 …
The book profiles his early life, coming of age, education and 27 years in prison. Under the apartheid government, Mandela was regarded as a terrorist and jailed on the infamous Robben Island for his role as a leader of the then-outlawed ANC. He has since achieved international recognition for his leadership as president in rebuilding the country’s once segregated society. The last chapters of the book describe his political ascension, and his belief that the struggle continues …
His childhood name was Rolihlahla, which is loosely translated as “pulling the branch of a tree”, or a euphemism for “troublemaker“.
Indeed, many of the most winning anecdotes are stories of how the now sainted man bungled, cheated or lied.
Mandela oversaw the formation of a Truth and Reconciliation Commission to investigate crimes committed under apartheid by both the government and the ANC, appointing Desmond Tutu as its chair. To prevent the creation of martyrs, the Commission granted individual amnesties in exchange for testimony of crimes committed during the apartheid era. Dedicated in February 1996, it held two years of hearings detailing rapes, torture, bombings, and assassinations, before issuing its final report in October 1998. …
Though Mandela was influenced by his older contemporary, Gandhi, he did not subscribe to Gandhi’s non-violence. Nelson felt that non-violence worked in India because the British government was reasonable. But that it would not work in South Africa government.
I’d previously read the interesting and controversial book by his warder/censor James Gregory, Goodbye Bafana: Nelson Mandela, My Prisoner, My Friend.
Mandela said that he actually didn’t know Gregory very well. But did state:
“He was one of the most refined warders. Well-informed and courteous with everybody. Soft spoken. Very good observations. I developed a lot of respect for him.”
They made a film I’ve not seen of Gregory’s book.
I’ve also not yet seen the 2013 British/South African biographical film – Mandela: Long Walk to Freedom.
Click PLAY or watch the trailer on YouTube.
to Victoria Falls
First Maputo, Mozambique for a 3-day Gymnastics Coaching course.
Then I fly to Livingstone, Zambia on March 4th.
Looks pretty intense. 🙂
Click PLAY or watch it on YouTube.
Frank Underwood’s Ruthless Advice
The viciously-cutthroat protagonist of Netflix’s hit political thriller House of Cards often breaks the fourth wall to provide viewers with merciless advice.
Click PLAY or watch it on YouTube.
I Am A Ukrainian, This Needs To Go Viral
I’m shocked and disbelieving about what’s happening in Kiev.
Click PLAY or watch it on YouTube.
Kiev’s central square looks like the aftermath of a war, with rubble strewn across the streets and smoke pouring out of a trade-union building that served as the protesters’ headquarters. …
The Globe in Kiev: Fragile calm follows truce between Yanukovych, opposition
Apartheid Museum, Johannesburg
The Apartheid Museum is a … complex in Johannesburg, South Africa dedicated to illustrating apartheid and the 20th century history of South Africa.
Click PLAY or watch it on YouTube.
Watch another video on the museum.
Rick McCharles 