The Focus of this Blog

October 25, 2014

Anyone who reads my Posts has probably noticed I’ve veered more and more toward financial topics and have moved away from commenting on world event dynamics.

The reason for focusing more and more on markets is that I want to accomplish my original goal of designing a system to immunize me  (and you )  from the poisonous creatures the innocent can and do  encounter in the Wall Street jungle.

But, in recognition  of recent comments by Janet Yellen, Chairman,  U.S  Federal Reserve, expressing her concern about the widening gap between rich and poor, and an article in  Barron’s citing an analysis of financial data by Roll Call indicating there are 189 millionaires out of 538 members of Congress , I thought that this may be a good time to return to my Post of December 28, 2011 to enumerate the primary systemic issues which I believe exacerbate the perception among us that the system is rigged to perpetuate the status quo and result in a widening of  the wealth and influence gap  in the USA.

1-   Term Limits for Congress.  Government should not be an industry.

2-   Line item veto  for the President – Don’t throw the baby out with the bath water.

3-   Encouragement via protection and awards for whistle blowers. Example, that Ebola  nurse speaking out about he lack of leadership at her Texas hospital.

4-   Congressional staff conflicts of interest. Mainly with Lobbyists.

5-  Greater oversight of Lobbyists and increased transparency of Lobbyist activities and record keeping.

6-   Congressional ” legal” insider trading and front running based on information from  closed door Congressional meetings.

7-   Earmarks – Pork attached to important legislation .

8-   Elected officials and staff crossing the employment line between government and industrial companies  they have helped regulate.

9-   How corporate Boards are selected and audited.

10-  Investor rights .  The CEO is an employee in the employ of shareholders…He and the Board should be at  arms length not cronies.

11-  Flat Tax or Value Added Income Tax …no loopholes.

12  How Congressmen  report to constituents.

 

OK. So we are not perfect. But all the above can be impacted by the collective will of a democracy through the ballot box by having an electorate familiar with the issues. That’s where we need to improve…awareness / involvement via selecting candidates dedicated to improving the process via reform.

BUT,…. after all is said and done, I’d much rather be a Richard Gore, citizen of the US of A than a Richard Gorochovsky, living in Russia  and looking toward KGB Putin as my one and only beacon lighting the path toward  social justice.

Talk about hopelessness , the  New Russia vision of Gorbachev has devolved into a kind of commune run by a cabal of  cronnies who dispense their version of  justice. based on winks and nods and the corruption  they grew up with  and accept.   Take a good look at Putin’s face and ask yourself what your gut reaction would be if he entered the room as your interrogator.  And to tell the truth, I’d prefer him to someone  I imagine as one of his assistants !

No, …for all his supposed procedural  failures  I’ll take Barak Obama as my interrogator.  In his face I see idealism and compassion backed up by a Harvard Law  degree and a resolve to do the right thing..

Conclusion: We can stand some reform, but we are light years ahead of Russia and China in our quest for social justice.

Case Closed.

Richard Maurice Gore

 

 

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