The DOW is not looking very good today. However, our office broker has been predicting that the DOW would be hitting 6000 since it started to hover around 8000. (I remember when the DOW was normal at 2000 and 3000. That’s some time ago, so I’m giving away my age.) Looks like our broker was right because 6000 seems to be where it is heading today. The TV news networks panned around the world and showed us the way their stock markets are also falling today. There was a disturbing look at Japan and the way people there are living in tent cities. There is a business in Japan taking advantage of poor people by constructing buildings with so-called “rooms” about the size of a walk-in closet, and filling these up with poor people. They say the buildings are always full. Of course, we have tent cities in our region, too.
We don’t think of Japan as having those kind of problems. They seemed so stable. However, they have changed, and not for the good. Just like in other places, the emphasis has been on improving the lot of the upper classes and the owners at the expense of employees. In Japan there was a movement toward part-time workers, and away from full time workers. These part-time workers can be paid less, and let go easily. The constant pursuit of wealth (greed), without regard for who gets used up in the process, is a universal value, I guess.
I’ve been looking for the positive highlights of our President’s budget proposal. A budget proposal is always a moral document, so this stuff is very interesting to me. Here are just a few highlights:
- Makes a $634 billion down payment on fixing health care that will go a long way toward paying for a more efficient, more affordable health care system that covers every single American. It’s a shame that there is this feeling by some that health care is a privilege and not a right.
- Reduces taxes for 95% of working Americans. Since my family makes less than $250,000, my taxes won’t go up one dime. Most of us are in this category. It’s about time we get a break.
- Invests more than $100 billion in clean energy technology, creating millions of green jobs that can never be outsourced. Our state is really eager to get involved in this stuff.
- Brings our troops home from Iraq on a firm timetable, finally bringing the war to a close—and freeing up almost ten billion dollars a month for domestic priorities. I’m not so sure about this one, as there seems a lot of possibility that we could stay stuck in Iraq for years if the Iraqis can’t make peace with themselves. I’m also not so sure about sending more and more troops to Afghanistan.
- Reverses growing income inequality. The plan lets the Bush tax cuts for the wealthiest Americans expire and focuses on strengthening the middle class. In my book, it is about time that the advantage to the upper classes is taken away and given back to us, the regular folks. How the republicans can always and continuously call for tax cuts, tax cuts, tax cuts for the rich — which makes as much sense as someone deciding to cut their income because their expenses are going up — tax cuts for those who don’t need them is foolish at a time like this.
- Closes multi-billion-dollar tax loopholes for big oil companies. I am betting that big oil, supported by the “Grand Oil Party” won’t like this at all.
- Increases grants to help families pay for college—the largest increase ever.
- Halves the deficit by 2013. President Obama inherited a legacy of huge deficits and an economy in shambles, but his plan brings the deficit under control as soon as the economy begins to recover. Finally there is actually a plan, as when Clinton was in office, to begin to take care of our debt. Under the republicans there is always complaints about the deficit, but never a plan.
- Dramatically increases funding for the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) —the agencies that police Wall Street. We really need the regulations to control those who would like to become “Robber Barons” like those in the 19th century.
- Tells it straight. For years, budgets have used accounting tricks to hide the real costs of the wars in Iraq and Afghanistan, the Bush tax cuts, and too many other programs. The Obama budget gets rid of the smokescreens and lays out what America’s priorities are, what they cost, and how we’re going to pay for them. Isn’t it amazing that the republicans didn’t mind in the least that the budget was something done with smoke and mirrors for years — hiding the true expense of the wars? Now, because these expenses are in there, in plain sight, these same people will begin to yell and holler.
- Stops unnecessary government subsidies to big banks, health insurance companies and big agribusinesses. I also find it interesting that these entitlements have gone unquestioned for years, but let there be a hint of money for workers, and you will hear the republicans scream.
- Expands access to early childhood education and improves schools by investing in programs that make sure every child has a qualified, strong teacher. This is really essential. Sometimes I really don’t understand why the republicans resist good schools for everyone with such determination. Of course, in a rich person’s dream world, only the rich will have educations. The poor only need enough education to be able to service the rich. So, I am very suspicious of motives when money for schools is resisted so fiercely.
- Negotiates for better prescription drug prices using Medicaid’s tremendous bargaining power. I really didn’t understand why we didn’t set things up like this in the first place — except to benefit the drug makers.
- Expands access to family planning for low-income women. People are so confused when it comes to this issue. They think this is only for birth control or abortions, but this is NOT the case. Family planning includes great help for pre-natal care.
- Caps the pollution that causes global warming, and makes polluters pay to support clean energy innovation. It is about time that we became a nation that cares for more than money, and began to care about what we are doing to our one earth.
Of course a budget proposal is just that — a proposal. Those who have been making a killing and getting rich from the old way of doing business in Washington DC are going to fight hard to defeat this budget. They do NOT want to lose their ticket to greater wealth. Social Darwinists and “Robber Barons” will be especially resistant to this budget, since they believe that the wealthy are the true citizens of the country, and deserving of the best of everything. This fight is not going to be any fun at all, because these people have a lot of money to spend and don’t care what they do in order to get what they want. For them the end always justifies the means. For them all is fair when it comes to making money. What amazes me is the way they can recruit the poor to stand with them in the fight — kind of like the Lords of old did with their serfs.
As a real estate agent I’m all for the President’s plan because when we have a strong middle class, we have lots of people who can afford to buy houses. When people are unemployed, or paid mere subsistence salaries, they can’t afford to buy houses. I know that I am often out of sync with other agents, but for me this just makes very practical sense. The proposed budget plan is good for me, and good for the majority of our citizens. I think it’s okay to look our for ourselves for a change!
Back to the DOW. This indicator of how we are doing in our economy is an indicator based on how the economy is affecting the Investor Class. I think it is time we began to measure how well our economy is going by having an emphasis on whether or not salaries are going up for the regular people of this country.
Tags: budget, dow, economy, Japan, plan, president, robber barons
