Posted on 08/16/2020 8:24:31 PM PDT by MagillaX
If you’ve spent any time driving around America recently, you may have noticed that an awful lot of the country seems to have shriveled up and died. Take a trip on route two in Maine count the boarded-up paper mills and abandoned houses...consider the empty factories ringed with barbed wire. scenes like this are everywhere. Shuttered car dealerships, next to defunct restaurants, across the street from thrift stores and methadone clinics. Community after community,
But one of the big factors in this slow-moving disaster is the utter transformation of the way our leaders think about the American economy. During the last gilded age, America’s ruling class may have been ..rich, but it was still recognizably America. Tycoons accumulated fortunes, but felt some obligation to the country. In January of 1914, Henry Ford doubled the prevailing wage, to a then-astounding five dollars for an eight hour day. Ford didn’t have to do it, but his company was succeeding ...it’s nearly impossible a big company doing anything like that today. Attitudes are just too different. Your average finance mogul looks at workers merely as costs to be reduced or eliminated. Private equity isn’t building a lot of public libraries these days.
Instead the model is ruthless economic efficiency: buy a distressed company, outsource the jobs, liquidate the valuable assets, fire middle management, and once the smoke has cleared, dump what remains to the highest bidder, often in Asia. It has happened around the country. It has made a small number of people phenomenally rich. One of them is a New York-based Hedge Fund manager called Paul Singer, who according to Forbes has amassed a personal fortune of more than $3 billion dollars. Singer made a lot of his money by purchasing sovereign debt from financially-distressed countries, usually at a massive discount.
(Excerpt) Read more at realclearpolitics.com ...
https://www.realclearpolitics.com/video/2019/12/03/tucker_carlson_how_paul_singer_hedge_funds_are_destroying_rural_america.html
New York-based Hedge Fund manager called Paul Singer... made a lot of his money by purchasing sovereign debt from financially-distressed countries, usually at a massive discount.
Drive down properties to fire sale prices. Swoop in and buy them at pennies on the dollar.
I’ve been suspicious that this is the real reason for the global shutdown.
Plenty of big money players circling like vultures.
I think most employers have always paid what they had to but a few came along and paid what they could but still were not running philanthropies for employees. They in turn forced the other employers to pay what they had to at a higher scale.
Money today is probably the same as it always was but the likes of Carnegie and Westinghouse made a really good showing of liquidating what they didn’t need unlike the virtue signaling vultures of today who just make token showing.
At some point it just becomes monopoly money. How much does one need? I see lots of things worth donating to that appear to struggle constantly. Employing outrageous fortune should not be that hard. What else is there to do with it after some certain point?
I hate those guys, especially Singer.
“Singer ... grew up in a Jewish family...
Republican or not, considering the current anti-Israel climate, Mr. Singer would do well to remember:
“First they came for the socialists ... “ (And, in the end, they came for Robespierre.)
look out for Buffett/Minneapolis.
BLM/Antifa riots are providing for the vultures.
Mitt Romney does the same thing as Singer.
“Drive down properties to fire sale prices. Swoop in and buy them at pennies on the dollar.”
Mitt Romney, just sayin....
“Mitt Romney does the same thing as Singer.”
*********************************************
I think that the despicable Romney loses sleep at night thinking that, in his second term, the patriotic nationalist President Trump will be on mission to end these monstrous, self-serving practices of vile phonies such as Globalist Romney.
In the end, Mitt Romney will die in his funny underwear.
He is, and, will still be a loser until then.
Then, it will be appearing before the Ultimate Judge.
Mitt and John McCain, pleading their cases...
Bookmark
It’s not a suspicion. It’s a fact.
There are some big farms in my neck of the woods that seem to be doing pretty well.
Huge dairy operations. Also a lot of acreage being turned over to hops.
Upstate NY.
l8r
Eddie Lampert pick up the Sears courtesy phone. If ever there was a guy who took a struggling company and internationally stripped it clean tand killed it for his own personal enrichment, it was Lampert. The guy was no different than Jesse James or any other train robber. He destroyed on a massive scale.
So in 1914 Henry Ford RAISED the wages to $5 for eight hours. Well, in 1954 I went to work at a supermarket for that same exact wage. We endured a war during that span of time. Forty years of no inflation. You could plan then because you knew what tomorrow was going to be like. Also, everything was MADE IN AMERICA except the crap labeled MADE IN OCCUPIED JAPAN.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.