Caribbean News, Latin America News:
News Americas, NEW YORK, NY, Fri. Feb. 21, 2020: STEP RIGHT UP … get your SUCKER button right here. They are FREE!
All you Slouches out there – which means 330 million Americans. Hope you watched Wednesday night’s debate. NOW you know The Truth! But don’t worry if you did not; I watched every delicious second of it for you.
THE GREASTEST DEBATE IN AMERICAN HISTORY EVER!
NOW you know why Michael Bloomberg is worth $60 BILLON + and you are NOT … Bloomberg works much, much harder than you. He told us so!
STOP LAUGHING. This is serious BUSINESS. Get it? Have you ever heard a rich person who does NOT say they work HARD? EXPLODE the MYTHS about wealth; SAVE our nation and OUR future NOW.
Thank God for Wednesday’s debate. NOW we know the answer … So just work harder like Mike and you too will be worth $60 Billion – maybe more!
A SECRET FOR MY READERS ONLY ….
Bloomberg’s incredible wealth has NOTHING at all to do with hard work.
TRUST ME, you work far harder than Bloomberg. And it has been over 16 years since Bloomberg has done any real work at all at his company. While living a luxurious lifestyle ALL his adult life beyond your wildest dreams.
How many BILLIONS are you worth? Or to use a specific example, immigrant women lugging big garbage pails, mops and vacuum cleaners through the halls who clean the office building where I work as they do every night.
They sure work harder than Michel Bloomberg EVER did. Where are they hiding their BILLIONS $$ and are they night cleaning offices for “fun” (sic)?.
So how did Michael Bloomberg become one of the richest individuals on Earth? Since I am sure you have no idea – and GUESS WHAT is the scary part? – I bet none of the other candidates yesterday did either, BECAUSE when Bloomberg said he got so rich because he works HARD, not one of them responded.
Here is what you should have said IF you were on the debate stage …
STOP, STOP, STOP! Michael Bloomberg just told us he is worth over $60 BILLION because he works hard. Is that Bloomberg’s idea of a BAD joke?
Everyone should know how Blomberg got so rich. He owns a MONOPOLY called Bloomberg, Inc. A MONOPOLY in the “great tradition” of Standard Oil and so many others. The difference is, the U.S. govt. trust busters broke up those monopolies’ years ago, but no one is touching Bloomberg, Inc.
Globally, Bloomberg’s company rents out 350,000 Bloomberg terminals which everyone in the financial industry around the world need to conduct their business because there is no other realistic way to get the kind of information they need and communicate among themselves effectively.
Each of those 350,0000 terminals cost $20,000 or more to rent annually – each of them. Bloomberg Inc.’s annual revenue is $10 BILLION or more. Michael Bloomberg owns 88 % of the company. Fortune Magazine estimates based on industry standards that 40% of that revenue is pure PROFIT. Price gouging.
This means Michael Bloomberg’s wealth increases about $3.5 BILLION each and every year. What does Michael Bloomberg have to do personally to “earn” (sic) that much? He does absolutely NOTHING. That means if Bloomberg spends $3.5 BILLION on his Presidential campaign this year, which he might NO problem, he will “earn” (sic) it ALL back this year.
SO MUCH FOR WORKING HARD AND GETTING RICH.
I am so, so glad Bloomberg is running and so should you. There is no better way to prove how BAD INEQUALITY is and how it can even try to buy the most powerful job on Earth – the American Presidency – IF WE LET HIM!
Even the idea that he is a great manager is a JOKE. Yes, he is a smart guy who won the MEGA LOTTERY. Years ago, he figured out the importance of information to the financial industry; then he set about creating a company that would MONOPOLZE all that information. The govt. did not have a clue.
So, what Bloomberg represents are much LARGER issues confronting us all and our nation that go far beyond his personal fortune. Unfortunately, the candidates and the media and much of the public are CLUELESS.
If we don’t confront Bloomberg and the rest of the 10% in a meaningful way, nothing is going to change, except get worse for the rest of us in the future.
Sanders, Warren, Biden, Klobuchar, and the others and their basket of proposed new laws if they are elected President, starting with health care and the environment and race, will NEVER pass unless we confront Bloomberg and “his kind” in a way that will bring real change to America.
IT IS ALL ABOUT THE FAIR OR UNFAIR DISTRIBUTION of rewards and responsibilities now and for the future that is MISSING from reality.
PUT IN VERY SIMPLE TERMS … Michael Bloomberg’s contribution to our nation and society is 60 BILLION times GREATER than the women who clean the building every night where I work. Conversely, Michael Bloomberg is extracting an UNFAIR share of the wealth from our nation while other Americans like these cleaning workers’ pay an UNFAIR burden.
The core issue is VALUE creation and VALUE extraction, more commonly referred to as the level of INEQULAITY in a nation and society.
Unless we admit and then act upon this issue of VALUE, nothing will change.
Bloomberg is an even more “perfect” example of the problem, in that even more than in other industries, it is the financial industry and those who benefit the most from it like Bloomberg more than anyone, who EXTRACT wealth from our nation and individual Americans far, far more than their contribution.
For example, why is the prime interest rate among banks and large corporations just 4.75% while the average credit card interest rate today is over 21%? Why doesn’t the gov’t cap credit card debt at let’s say 6% today or even just 10%? Why? Because banks will refuse to issue credit cards? Really? Will they tell Americans to GO TO HELL even though the big banks are making astronomical profits year after year from this interest rate gouging?
And even after we Americans bailed them all out with the most generous terms in 2008, thanks to both Presidents Bush and Obama, when they got so GREEDY they nearly destroyed the American economy and did destroy millions of lives of poor and middle class Americans ,only for these banks to make even larger profits just a few years later and NO body went to jail.
Which of the candidates is proposing LIMITING credit card interest rates to even twice the prime rate? None of them; but even I am getting away from the CORE issue. This will not solve the CORE problem by itself; not close.
YES, of course we also need an annual WEALTH tax on the SUPER Rich like Bloomberg, Bezos, Zuckerberg, etc., but the core need is a federal government and a NEW President that BENCHMARKS everything it does in terms of …
Value CREATION and Value EXTRACTION and the FAIR allocation.
More to follow but for this episode I conclude with a special SHOUT OUT to Professor Mariana Mazzucato and her book: “The Value of Everything.”
What a GREAT Secretary of the Treasury Professor Mazzucato would be!
(This series dedicated in honor of the late Liu Xiaobo & Jamal Khashoggi)