Larry Winget Rants about America

It's time for straight talk. Here's Larry Winget's opinion.

Larry Winget — Money – Personal Development – Business |.

I am sick of listening to the politicians blow smoke up my skirt saying that Americans are the hardest working people on the planet.  They are simply pandering to our emotions and our sense of patriotism about what great people we are.  That’s a load of crap.  American workers are NOT the hardest working people on the planet.  Read a little.  Watch some educational television.   Travel some.  You will quickly find out that the American worker is about the laziest worker on the planet.  For the most part, workers do just enough to squeeze by.  Tell them that you have a problem with how little effort they put out and the crappy job they are doing and they will contact their union rep and file a grievance.  Yep, I am taking on labor unions too.  Originally, they were a great idea.  They were formed to protect the American worker from abuse.  But folks, this ain’t a hundred years ago.   Working conditions are not what they used to be.  Your rights aren’t being violated by expecting you to actually do what you were hired to do and are being paid to do.  Now labor unions exist not to make sure that workers are treated fairly and to stop abuse but to put the squeeze on companies for every dollar they can to the point that the company can no longer be profitable or compete globally.  Want to know why we ship so many jobs overseas?  One of the reasons is labor unions.  Highly skilled people, who are willing to work harder than people in our country are willing to work (and for less money, I know) and don’t belong to a union that has management by the short hairs. (Of course the situation is more complex than that but this is a rant, not a thesis.)  In few cases does America produce the highest quality product  and almost never is it done at the lowest price.

Am I anti-American?  Some of you will read this and think so.  Nothing could be more wrong.  I am very PRO-American.  But I’m not so wild about what we have let happen to our great country.  GREED.  A lack of INTEGRITY.  LIES.  IMMORALITY.  Not the kind of immorality that the fundamentalists talk about.  I’m talking about the morality that is based in doing the RIGHT thing.  The thing that has nothing to do with religion or politics.  Instead, it’s the thing you know in your heart is right because it just IS.  You don’t have to ask, you don’t have to think about who will win and who will lose, you don’t have to wonder about the repercussions or consequences, you just KNOW it’s the right thing.  And because you know it is the right thing, you do it.  That is real morality.

The U.S. Economy

Astute observer Barry Ritholtz rants about our country’s economy. Do we laugh or cry?

Link: The Big Picture | Idiots Fiddle While Rome Burns.

The collection of ne’er do wells, clueless dolts, political hacks, and oh, let’s just be blunt and call them what they are — total Idiots — expands into an ever larger circle.

While the Republic burns due to the unsavory combination of incompetence, ideological rigidity, and crony capitalism, the fools and assclowns seem ever more determined to avoid any personal responsibility for the damages they have wrought. Instead, they flail about blindly, blaming everything and everyone — except their own horrific negligence.

This is financial incompetence writ on a scale far grander than anything seen for centuries.

As a nation, our institutions have failed us: Under Alan Greenspan, the Federal Reserve slept through the most reckless and irresponsible expansion of bank lending in history for reasons of ideological purity. His opposition to the Fed’s regulatory role reached the point of malfeasance long ago.  History is unlikely to be kind to the Maestro.

There is a choice to be made: Either we regulate the Banks, or leave it to the vagaries of the free markets to punish those who trade with, or place their assets in the wrong institutions. But for God’s sake, do not give us the worst of both worlds — do not allow banks the freedom to make horrific but preventable mistakes (i.e., only lending money to those who can pay it back), but then expect the taxpayers to foot the trillion dollar bill.

That’s not capitalism, its not socialism, its not regulation, and its sure as hell isn’t what free markets are. Our language is insufficient to describe this hodge-podge system, other than to call it a random patchwork of quasi-capitalism, quadrennial-socialism, and politics as usual. Ideological idiocy is the only phrase I can muster that has any resonance with the daily insanity.

We have entered into a fit of Orwellian madness: The American Capitalists, long the globe’s leading advocates for free markets, have become near Socialists. Halfway around the world, the Chinese Communists have picked up the baton, and are moving rapidly towards a form of Capitalism. Ironically, it is the once largest communist nations — the Chinese and the Russians — who holds much of Fannie and Freddie’s paper.

Massively over-leveraged companies? Blame short sellers.

Wildly under-capitalized financial firms? Blame rumors.

Heinously poor corporate management? Blame a Senator.