Tuesday, April 17, 2012

Republicans to Americans: "Go Fuck Yourselves"

As most of us know, The Buffett Rule was "voted" on today, in other words blocked by Republicans.

It is asinine when a bill that has the support of over 70% of American gets blocked. It is self evident in today's session that the Republicans are in the pockets of the rich. They only care about the Haves and the Have Mores.

Today the republican party had this to say to Americans: "Go Fuck yourselves, We don't care about you, Just the rich people in this country"
Well the didn't actually say it in so many words, just in their actions for the past decade.

If only we the pawns could realize our true potential in this country....

Friday, April 13, 2012

The Buffet Rule

The Buffett Rule

Many People on the right seem to HATE the idea of The Buffett Rule, often citing that there is no need because the rich pay more... They could not be more wrong.

If you think that the current tax system is fair, then get the hell out of here.

If you think the rich are "Job Creators" then get real! They are businessmen and women, NOT "Job Creators", they are rich because they have a good job or business. The only reason they will open a business is to make more money, taxing them less will not make them more willing to open a business.

The White House is pushing for The Buffett rule, and for good reason. As the rich get richer, the poor have been getting poorer; too much money is concentrated among the top .1%. If you are wondering why our economy is doing bad, it is because the middle class has shrunk so much, the people at the top are hoarding the money, and we are doing nothing to combat this oppression.

Both sides of the political isle need to get on the ball. There is a reason Taft drafted Anti-Trust legislation, they did not want too few companies having too much power. However, too few people now have too much power. Decades of low taxes gave the top earners the opportunity to stockpile their earnings and slow the flow of money throughout the economy culminating in a recession.

If we are going to fix this economy, then were are going to have to take some drastic steps, and yes that includes tax increases, minimum wage increases, and fair tax laws.

Monday, April 2, 2012

Reply from the CEO of J.P. Morgan to a Pretty Girl Seeking a Rich Husband

Jamie Dimon Fortune
J.P. Morgan CEO

A young and pretty lady posted this on a popular forum:

Title: What should I do to marry a rich guy?

I’m going to be honest of what I’m going to say here.

I’m 25 this year. I’m very pretty, have style and good taste. I wish to marry a guy with $500k annual salary or above.

You might say that I’m greedy, but an annual salary of $1M is considered only as middle class in New York.

My requirement is not high. Is there anyone in this forum who has an income of $500k annual salary? Are you all married?

I wanted to ask: what should I do to marry rich persons like you?

Among those I’ve dated, the richest is $250k annual income, and it seems that this is my upper limit.

If someone is going to move into high cost residential area on the west of New York City Garden (?), $250k annual income is not enough.

I’m here humbly to ask a few questions:

  1. Where do most rich bachelors hang out? (Please list down the names and addresses of bars, restaurant, gym, etc)
  2. Which age group should I target?
  3. Why most wives of the riches are only average-looking? I’ve met a few girls who don’t have looks and are not interesting, but they are able to marry rich guys.
  4. How do you decide who can be your wife, and who can only be your girlfriend? (my target now is to get married)
Ms. Pretty

A Philosophical Reply from CEO of J.P. Morgan:

Dear Ms. Pretty,
I have read your post with great interest. Guess there are lots of girls out there who have similar questions like yours. Please allow me to analyse your situation as a professional investor.
My annual income is more than $500k, which meets your requirement, so I hope everyone believes that I’m not wasting time here.

From the standpoint of a business person, it is a bad decision to marry you. The answer is very simple, so let me explain.

Put the details aside, what you’re trying to do is an exchange of “beauty” and “money” : Person A provides beauty, and Person B pays for it, fair and square.

However, there’s a deadly problem here, your beauty will fade, but my money will not be gone without any good reason. The fact is, my income might increase from year to year, but you can’t be prettier year after year.

Hence from the viewpoint of economics, I am an appreciation asset, and you are a depreciation asset. It’s not just normal depreciation, but exponential depreciation. If that is your only asset, your value will be much worse 10 years later.

By the terms we use in Wall Street, every trading has a position, dating with you is also a “trading position”.

If the trade value dropped we will sell it and it is not a good idea to keep it for long term – same goes with the marriage that you wanted. It might be cruel to say this, but in order to make a wiser decision any assets with great depreciation value will be sold or “leased”.

Anyone with over $500k annual income is not a fool; we would only date you, but will not marry you. I would advice that you forget looking for any clues to marry a rich guy. And by the way, you could make yourself to become a rich person with $500k annual income.This has better chance than finding a rich fool.

Hope this reply helps.

J.P. Morgan CEO