Wall Street Bailout Exceeds Cost of All US Wars Combined: And you can throw in the New Deal, Marshall Plan and Moon Shots as well
(The Creek) — Casey Research, of Vermont, has analyzed the costs of the government bailouts of the housing crisis, the credit crisis and others and has concluded that the total is $8.5 trillion, which is more than the cost of all US wars, the Louisiana Purchase, the New Deal, the Marshall Plan and the NASA Space Program combined.
According to CRS, the Congressional Research Service, all major US wars (including such events as the American Revolution, the War of 1812, the Civil War, the Spanish American War, World War I, World War II, Korea, Vietnam, Iraq and Afghanistan, the invasion of Panama, the Kosovo War and numerous other small conflicts), cost a total of $7.5 trillion in inflation-adjusted 2008 dollars.
From: The Intelligence Daily
Four Reasons to Get a Doctoral Degree in the Humanities:
1. You are independently wealthy, and you have no need to earn a living for yourself or provide for anyone else.
2. You come from that small class of well-connected people in academe who will be able to find a place for you somewhere.
3. You can rely on a partner to provide all of the income and benefits needed by your household.
4. You are earning a credential for a position that you already hold — such as a high-school teacher — and your employer is paying for it.
Those are the only people who can safely undertake doctoral education in the humanities. Everyone else who does so is taking an enormous personal risk, the full consequences of which they cannot assess because they do not understand how the academic-labor system works and will not listen to people who try to tell them.
It’s hard to tell young people that universities recognize that their idealism and energy — and lack of information — are an exploitable resource. For universities, the impact of graduate programs on the lives of those students is an acceptable externality, like dumping toxins into a river. If you cannot find a tenure-track position, your university will no longer court you; it will pretend you do not exist and will act as if your unemployability is entirely your fault. It will make you feel ashamed, and you will probably just disappear, convinced it’s right rather than that the game was rigged from the beginning.
From The Chronical of Higher Education: January 30, 2009
AN ACADEMIC IN AMERICA
Graduate School in the Humanities: Just Don’t Go
Where you shop, the company you took out your mortgage with, even the falling real estate values in the homes around you are all being used to cut your credit card limits, even if you charge little, pay on time, and have a perfect credit score.
Where you shop? Yep. If you shop in a place where “deadbeats” shop, you may find yourself not only with a lower line of credit, but with a lower credit score, as it is based on what percentage of debt you have vs. available credit. American Express admits to the practice, but says it is doing nothing illegal. It is merely “data mining” your world, and making decisions based on what they find.
Dollar Store, anyone?
It’s Tough Being Uber-Rich…
The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show.
That’s a tax rate is a bit over someone making $35,000 a year.
But that’s just dandy, according to Rudolph Guilani, who believes that Wall Street bankers, who received $18.4 billion in bonuses in 2008, will trickle that money down to help out NYC:
“Those bonuses, if they are reversed, are going to cause unemployment in New York,” the self-described fiscal conservative said. “I remember when I was mayor, one of the ways in which you determine New York City’s budget, tax revenue is Wall Street bonuses. “Wall Street has $1 billion, $2 billion in bonuses, the city had a deficit. Wall Street has $15 billion to $20 billion, New York City had a $2 billion, $3 billion surplus, and it’s because that money gets spent. That money goes directly into the economy. First of all, it gets taxed as income. Secondly, it gets taxes again when somebody buys something with it.”
This was my point exactly, about how job loss will effect States, cities and towns. Without job, we can’t spend $14,000 on a pair of Manolo Blahnik alligator boots, and a matching classic Chanel shoulder bag, with the iconic Chanel “Cs” encrusted in a staggering 334 diamonds (a total of 3.56 carats) set in 18-carat white gold. The alligator skin is farmed and treated with a matte finish. Price? $260,150. Or, famished, stopping in for some “barely touched” seafood at le-bernardi.
You’ll also know that your Amex card won’t be altered when you shop this way…
We have to stop thinking about ourselves, and start thinking about the good of the nation!