It’s time to declare the 43-year Reagan Revolution’s neoliberal experiment a failure, and outlaw or heavily tax the share buybacks that are one of its most visible markers…
Ironically, Reagan started out decimating air traffic control with wholesale firings. Now, we are faced with corrupt, dangerous corporate profits threatening us with planes breaking apart midair. THAT is the essence of “Libertarian” Fascism. . . The money is pocketed and we are left with substandard infrastructure.
The scam of buying back company stock is just one of the affects to our country that has occurred. Just one more action that makes a lot more of the middle class into the poor class which is all necessary in order to increase the billionaire class from nearly zero to around a thousand. This is why the GOP want to make as many Americans as possible poor and the number one way to do that is force women to have a child before she is ready. It makes poverty much more likely and outcome and the only way to have wealth is family size. The poor have the largest families because that is the only wealth they can create. It is just a fact that more extreme wealth requires more extreme poverty. If you ended poverty, there would be very few billionaires if any.
I thought the corporate tax cut was going to deliver higher wages and more research to make better products. Gee, it seems that the C-suite folks took the money for themselves, and of course, for their loyal shareholders none of whom care that perhaps if the planes fall apart in the sky the stock price might be affected.
Absolutely the case, but unfortunately Democrats and Republicans alike are complicit in a system that allows company executives or board members to sit on regulatory agencies. And I'm still waiting for Pete Buttigieg to rein in the airlines on junk fees, delays and cancellations (sic and sick).
It seems the stock buyback scheme has been one of the principal ways the 1% shifted $50 trillion from the middle and working classes up to the top.....
John Oliver did a top notch job of an expose on Boeing a few weeks back. It's problems started when it acquired McDonnell Douglas, a defense contractor, Boeing specialized in passenger aircraft, with the acquisition a new Board of Directors and new CEO'S that were profit, not safety driven.
I just performed a search "Who owns Boeing", which is a good habit to get into, guess who the top shareholders are" Vanguard and Black Rock, the same names you will see in communications, health care, pharmaceuticals, chemcicals, media https://www.tipranks.com/stocks/ba/ownership
The complexites of high finance renders most Americans thoroughly incapable of understanding anything of its ramifications, therefore depriving them any considerate opinion. No doubt this labrythic obfuscation was carefully created, along with the primary reason, pure greed, to achieve that very result. Equally difficult is finding out which corporation belongs to which corporation. All by design. Intended complexity.
Most of what I have learned has come from enlightened posters in this format, to whom I am grateful, most certainly from our host, who stands alone not because he dwarfs all others, but because no other sources say much at all, certainly not regular journalist resources. The importance of people having more understanding of high financial grift cannot be over-estimated, since it is the hidden source of most of the pain Americans today suffer from. My thanks to those who address these issues.
Clean-up on Aisle 9! Seems legislatively that's all we Democrats do after some Libertarian or Republican jerk makes a mess of things.
Boeing's disasters are what happens when you buy the premise that industries and banks will self-regulate "because it is in their self-interest". What a damn joke. How naive.
Corporations are not PEOPLE! The people that run them barely act like people. They do forget the history. They don't think of employees as assets. Risks are accepted on a cost/benefit ratio.
Corporate boards and management never get past the dollar signs. We have to be the humans in this equation. Regulate is not a dirty word---it improves and saves lives.
Ironically, Reagan started out decimating air traffic control with wholesale firings. Now, we are faced with corrupt, dangerous corporate profits threatening us with planes breaking apart midair. THAT is the essence of “Libertarian” Fascism. . . The money is pocketed and we are left with substandard infrastructure.
Buybacks, then = Shrinkflation.
Hence, an inflated-with-air bag of potato chips contains fewer chips in the same bag, for the same cost. Thereby, increasing the price of each chip.
In a Plantation Economy we are merely sharecroppers, shopping for stocks and chips at the exploitative company store.
And, we get to pay the plantation owners' share of taxes, too; since his/her income is in Panama.
The scam of buying back company stock is just one of the affects to our country that has occurred. Just one more action that makes a lot more of the middle class into the poor class which is all necessary in order to increase the billionaire class from nearly zero to around a thousand. This is why the GOP want to make as many Americans as possible poor and the number one way to do that is force women to have a child before she is ready. It makes poverty much more likely and outcome and the only way to have wealth is family size. The poor have the largest families because that is the only wealth they can create. It is just a fact that more extreme wealth requires more extreme poverty. If you ended poverty, there would be very few billionaires if any.
I thought the corporate tax cut was going to deliver higher wages and more research to make better products. Gee, it seems that the C-suite folks took the money for themselves, and of course, for their loyal shareholders none of whom care that perhaps if the planes fall apart in the sky the stock price might be affected.
Absolutely the case, but unfortunately Democrats and Republicans alike are complicit in a system that allows company executives or board members to sit on regulatory agencies. And I'm still waiting for Pete Buttigieg to rein in the airlines on junk fees, delays and cancellations (sic and sick).
Reagan again. So much harm to the US can be traced back to his administration.
It seems the stock buyback scheme has been one of the principal ways the 1% shifted $50 trillion from the middle and working classes up to the top.....
John Oliver did a top notch job of an expose on Boeing a few weeks back. It's problems started when it acquired McDonnell Douglas, a defense contractor, Boeing specialized in passenger aircraft, with the acquisition a new Board of Directors and new CEO'S that were profit, not safety driven.
I just performed a search "Who owns Boeing", which is a good habit to get into, guess who the top shareholders are" Vanguard and Black Rock, the same names you will see in communications, health care, pharmaceuticals, chemcicals, media https://www.tipranks.com/stocks/ba/ownership
The complexites of high finance renders most Americans thoroughly incapable of understanding anything of its ramifications, therefore depriving them any considerate opinion. No doubt this labrythic obfuscation was carefully created, along with the primary reason, pure greed, to achieve that very result. Equally difficult is finding out which corporation belongs to which corporation. All by design. Intended complexity.
Most of what I have learned has come from enlightened posters in this format, to whom I am grateful, most certainly from our host, who stands alone not because he dwarfs all others, but because no other sources say much at all, certainly not regular journalist resources. The importance of people having more understanding of high financial grift cannot be over-estimated, since it is the hidden source of most of the pain Americans today suffer from. My thanks to those who address these issues.
By
Clean-up on Aisle 9! Seems legislatively that's all we Democrats do after some Libertarian or Republican jerk makes a mess of things.
Boeing's disasters are what happens when you buy the premise that industries and banks will self-regulate "because it is in their self-interest". What a damn joke. How naive.
Corporations are not PEOPLE! The people that run them barely act like people. They do forget the history. They don't think of employees as assets. Risks are accepted on a cost/benefit ratio.
Corporate boards and management never get past the dollar signs. We have to be the humans in this equation. Regulate is not a dirty word---it improves and saves lives.
Many of us (if not most) hold mutual funds rather than common stock.
There are ETFs that track companies that buyback stock but I wasn't able to find how most mutual funds have fared.
So where's a petition to sign? Or some other actionable guidance? It's important to know these details, but it's also important to take action.