Robert Oak's blog

Friday Movie Night - The Flash Crash

It's Friday Night! Party Time!  Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!  Tonight's documentary is Money & Speed: Inside the Black Box.   It is a nanosecond by nanosecond account of the May 6th, 2010 flash crash,  the most famous of sudden jolts to the markets due to automated computerized trading. 

The Lobbyist Congressional Cheap Labor Drone Marches On

The Lobbyists are gearing up in hopes of obtaining more methods to flood the U.S. labor market with cheap, controllable foreign labor.  The target is to include their agenda in the upcoming Comprehensive Immigration Reform legislation.  As a result, we have been inundated with lobbyists lies, planted articles and even faux pas Congressional hearings, all geared to media spin the public.  CEOs are even  having summits, all to make sure they obtain more foreign labor so these businesses do not have to hire Americans.

Holder Claims He Can't Prosecute the the Banks Because It Would Negatively Impact the Global Economy

Attorney General Eric Holder, the highest law enforcement officer in the land, said he cannot prosecute the big banks because that would endanger the global economy.  This is an admission the world is run by the banks and not governments or the rule of law.

The Only Ones Who Recovered from the Recession are the Top 1%

There is another round of bad news for most Americans.   A study shows the top 1% of America's rich captured 121% of the income gains for the two years after the 2007-2009 recession was declared over.  U.C. Berkeley Economist Emmanuel Saez released his study Striking it Richer:  The Evolution of Top Incomes in the United States early this month to much press.   It truly is astounding.   Gone is America's strong middle class where work was rewarded.

Sequestration Suicide

For once he's right.  President Obama came out blasting against the upcoming sequestration as a major threat to the U.S. economy.   He's right.  These draconian cuts, $85 billion for FY 2013, will be enacted starting in March 2013 if Congress doesn't stop it.  The CBO estimates this year's budget costs will cost the United States a full 1.5 percentage points of GDP.

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