A “license to loot” is what our guest, economist William Lazonick, calls stock buybacks. Until the Reagan Revolution, stock buybacks were considered market manipulation and at the very least are an unproductive use of profits used only to pump up the stock price and enrich upper management, while neglecting workers’ wages, capital expansion, and innovation. Ralph and Professor Lazonick break it all down for you.
Everytime I hear the word, Boeing, I think of the time, in 1997, when I was an employee of McDonnell-Douglas Corporation (MDC). It was announced that Boeing was pursing a merger with MDC, making the only two commercial aircraft manufacturers one company. I assumed that it would never happen as the Clinton administration would surely put the brakes on the plan in order to avoid Boeing getting monopoly power over the world's commercial airlines manufacturers, their only remaining competition being AirBus. The response, from Washington, was absolute silence. As with any monopoly, the history of the 737 MAX resulted in minimal financial damage to Boeing and, with no competition, no interruption in its winning contracts with the federal government.
Re the 737 MAX, according to Wikipedia, "During the certification process, the FAA delegated many evaluations to Boeing, allowing the manufacturer to review their own product." This has the same heartwarming value to the reader as the knowledge that Nuclear power plants are now performing their own safety inspections, allowing the government to save valuable taxpayer dollars. What Could Go Wrong???
I think the strongest PoliticaL Party in USA
is the PENTAGON PARTY.
Does anyone of you actually listen to "In Case You Haven't heard?" It's rapid fire reporting with no less than 15 "quotes" but zero "close quote," "end quote," or any other indication the first quote ended somewhere.
It can be tough to decipher considering the speed of the messaging.
No argument with the reporting, It would just be nice to know who actually said what.
Another expose on the criminal corporate plutocrat class which are in reality greedy, malevolent predators that voraciously seek for more and more of the economic power in the US. And most are low class crass materialists without real taste, but are constantly, like Trump, seeking to pimp up their social status and wash their ill gotten gains through highly public charities, whether for disadvantaged children, "human trafficking", "social justice", or feeding programs for the poor. It's all a con. The ministers and charities are so dependent on their ill-gotten gains that they treat them like royalty instead of doing the right thing as Bible prophets did and call them out and refuse their blood money. The Bible warns about accepting bribes from criminals.
Are there any mutual funds that guarantee that their investments do not include any companies that do stock buybacks? The arguments in this hour would indicate this would be a very good long-term investment strategy. If there is no such fund, there should be.
Sen Klobuchar and Doris Kearns Goodwin both have recently called for Campaign Finance Reform a la McCain-Feingold. Amendment is out of the question in this environment. Would it be possible for the Congress to pass such a reform in language so strong that it would survive a challenge in this SuCt? In his dissent in Citizens United JP Stevens wrote: "It is very difficult for a democracy to function when its constituents believe votes are being bought and sold."
I've heard many surprising things on the RNRH over the years, but the ending of the 'Wrap Up' segment this week might be the biggest shocker yet!
I recently discovered Bernie Sanders' book, "It's Okay to be Angry about Capitalism." It has been out for a few months. I enjoyed hearing Bernie read it to me. Here's a link to a description from the library:
Seems we have 5 Major PoliticaL Parties:
Dear Friend of a Regenerative Future,
The block-chain secured web page "We the People" is now receiving yes/no votes on the First Question: Do you want to be your own representative in a constitutional democracy?
I have written numerous letters on behalf of the Heart Mind Alliance (.com ) which raised $25,000 for the development of this voting system in which each voter has a personal ledger to find a voting transaction in the block chain and verify that it was counted correctly. I have had no acknowledgement of receipt of any letter from Noam Chomsky, Michael Moore, Rachel Maddow, Amy Goodman and others. There seems to be no interest in celebrating the launch of this planetary first. Could that be? Can you give me your opinion as to why?
Founder and president of the Heart Mind Alliance (.com)
Producer of the documentary "Bolivia Beyond Belief" (on You Tube) regarding the Bolivian Democratic Revo lution I witnessed while living in Bolivia from 2005 to 2008
Initiated as an Andean Cosmovision Amauta
After working in 20 countries in community development I have created a You Tube channel with 135 videos of the most successful appropriate technologies I learned of: "Community-based Appropriate Technologies" (Now on the Northern New Mexico College portal for international access)
Served as Area Director for South America and the Caribbean for Habitat for Humanity
Reflexologist certified by the International Institute of Reflexology
Founder of Colorado's San Luis Valley Solar Energy Association and Alamosa Childrens' School
Founder of the Rio Arriba Bioregional Council and the Espanola Valley Community Council, New Mexico
Author of I Am: A Journey Through Times and Spaces and the book The Great Mandate (available via Kindle)
Grandfather of three