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Archive for category Economy

Make no mistake…

May 28

Posted by Patrick Thrush in Economy, Environment | No Comments

I am responsible.  These sum up the words of Fearless Leader the other day, in describing the ongoing catastrophe left behind by the demise of the Deepwater Horizon.  For those who read literally–he was not claiming that what happened was his doing–but rather that someone was going to take point position in cleaning up the wreckage.

This was not the case a week or so ago when the Three Stooges of BP, TransOceanic, and Halliburton were on the congressional hotseat.  Finger pointing was the order of the day there,  with Moe McKay, Larry Newman, and Curly Probert blaming each other.  The only excuse not heard was that it was “God’s Will”, and they got dangerously close to whipping that one out.  We always get some good Nyuk Nyuk’s out of Halliburton’s stooge–this time was no exception.

Watching the plumes of oil and drilling mud, courtesy of BP’s “catastrophe camera” stream–I stop to think that I need to fill up my Jeep today.  What the hell if it only gets 16 MPG around town.  We are not moving away from petroleum before my demise, so “Keep the Jeep” will be the order of the day.  Let the greenie weenies drive their little putzmobiles around.  I might have to haul something big and heavy.

Sarcasm or position?  Or a little of both as a scene from “The Graduate” comes to mind:

Continue reading “Make no mistake…” »

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The War We Lost

Aug 2

Posted by Patrick Thrush in Economy, Health, Regional, Society | No Comments

In a surprise pre-dawn attack, Special Forces infiltrate an area and prepare to secure the perimeter.  They hope to seal the enemy inside the cordon they have created, and to capture those targeted by intelligence agents without bloodshed or casualties to innocents and children.  The risk of causing an explosion due to hidden stockpiles is very real, as is the problem of chemical contamination of the skirmish line during the raid.  It is known that the enemy is well armed.  If all goes well, another dangerous anarchist cell will have been eliminated in this very lengthy war.

If one thinks that this is just one more tale from Iraq, Afghanistan, or another part of the Middle East, then they are wrong.  This is a story that unfolds around us every day in this country when law enforcement authorities confront an illegal drug lab and its operators.  Here in Appalachia, methamphetamine production can be found in every county, produced and supported by users from all economic and social walks of life.  And there are other kinds of drugs manufactured as well; Ecstacy, PCP, crack cocaine, designer amphetamines, hallucinogens, the list goes on.  And then there is Tennessee’s number one cash crop, marijuana.

There are two realities here.  The first and most important is that throughout the entire discernable history of all cultures of humanity, man has sought and found ways to change his perception of reality through plants, chemicals, and alcohol.  No society has ever been free of this, and many encourage the behavior as it is built around significant cultural and spiritual rituals.

In the modern Western “civilized” world, it is estimated that approximately 25% of the population uses some sort of illegal or legal prescription drug (in a manner not intended) on a regular basis to feel different about themselves and the world they interact with.  Perhaps another 10% are very occasional recreational users. Continue reading “The War We Lost” »

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Small Investment Yields Big Returns

Jul 26

Posted by Patrick Thrush in Business, Economy | No Comments

In the economic and community development world, something known as Microenterprise has become all the rage.  There are an estimated ten million microentrepreneurs in the United States today, and the number is growing along with lenders and assistance programs to help them.  Microentrepreneurs come from all walks of life—people seeking to start businesses or to use existing skills toward supplementing their incomes.  These business people offer services ranging from car repair to day care programs, and products ranging from specialty foods to clothing.

In many successful microenterprise programs it all begins with business training and investment in ordinary people in a place called a “business incubator.”   While this may conjure up some wild images, a business incubator is simply a place where microentrepreneurs go to grow their business.  Incubators provide space to work, and supply services such as technical support, telephone, office equipment such as computers and copiers, and most important, an environment that is conducive to success.

While microenterprise is a common outlet for progressive or displaced workers, development really shines for those who are disadvantaged—and located in minority communities that are seeking to renew themselves.  Self employment is one way to earn extra income to supplement low wages typical for those lacking a college degree.  Women with families choose self employment for the flexibility they need to balance home and work responsibilities.  Individuals with disabilities find economic independence through business ownership.  And most importantly, for many low income people, microenterprise offers the chance to use talents, realize suppressed dreams and find fulfillment that is rarely possible with their options in the current labor market. Continue reading “Small Investment Yields Big Returns” »

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America For Sale

Apr 10

Posted by Patrick Thrush in Economy, National, Society | No Comments

The trouble with reaching 50 is that it enables one to have a personal view of the paradigm shift that has overwhelmed America and its economics. It was not that long ago in the scheme of things that “imported” usually held the connotation that the item was a special, to be coveted item. The phrase “made in” was universally seen as cheap junk and trinkets from Hong Kong or India.

Today it is estimated that over 60% of our consumer goods are manufactured abroad. I doubt that this figure includes the American produced goods that are assembled from materials and components made elsewhere. The rationale given by producers is that these sort of production systems make items more affordable for the consumer, and meet demand for the product.

The reality is that much of the demand is artificial due to marketing and an artificially suppressed price tag due to cheap foreign labor. We as citizens are convinced to buy cheaply made disposable goods—all in the name of profit for the corporations that funnel them to the retail market. So, let’s all roundly boo the big bad corporation.

Incredibly enough this control is largely financed by debt—borrowing against other debt financed ventures to keep it afloat. This economic house of cards bears a remarkable resemblance to a legal Ponzi scheme.”

Bashing the company is a pastime that has its roots in the 20th century labor movement, but now is little more than a shadow of the meaning behind the original stereotype. Consumers conveniently forget that old John D. and his ilk are long gone and the real control of a corporation and its course are now completely held hostage by the power of its stockholders. Incredibly enough this control is largely financed by debt—borrowing against other debt financed ventures to keep it afloat. This economic house of cards bears a remarkable resemblance to a legal Ponzi scheme. Continue reading “America For Sale” »

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Dumb Credit Moves Choke Economy

Mar 2

Posted by Patrick Thrush in Economy, National | No Comments

The rules do not apply to everyone. We all know that it is too easy to get into serious trouble with credit debt. Taking on too much credit, risky loans, high interest rates, it all adds up to financial chaos. And thanks to our concerned congressional representatives, it is extremely difficult to avoid bad debt through bankruptcy, or get good loans to bail out bad financial decisions. Unless of course you are a bank, an automaker, or an investment broker.

A case in point is the current fallout of the mortgage market, Ponzi Scheme investment by brokerages, and the impending demise of several American automakers. For years, lending institutions have made riskier and riskier loans with “flexible” interest terms–under the great presumption that default rates would not seriously encroach on profits. They sold these mortgages to investors–you know, the folks that buy them to prop up your retirement fund and bolster companies that need to show ever increasing profits while they make nothing really tangible…

A recent NY Times story says it all, “Wall Street analysts say they are increasingly concerned that consumer spending will weaken as more people in housing and related sectors lose their jobs. They also worry that many homeowners will cut back as they find it harder to refinance or borrow against the value of their homes.” Continue reading “Dumb Credit Moves Choke Economy” »

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