Friday, December 02, 2016

Wall Street is going to run the economy.

December 6, 2016
Written by Max de Haldevang

If you were worried that the three former Wall Street bankers (click here) Donald Trump has tapped for lead roles in his administration so far represent a pretty limited set of business expertise, fear not.

Having been elected on a promise of bringing private sector sense to Washington, the US president-elect has assembled a wide-ranging collection of US business leaders to serve as an advisory group: the rather prosaically-titled “Strategic and Policy Forum.” (As to why it’s not a “Strategic Policy Forum” or “Strategy and Policy Forum,” we’re afraid we can’t help you.

The list—which includes 14 men and two women—spans manufacturing, entertainment, transport, technology, accounting, retail, and, of course, finance. Big-name CEOs like JP Morgan Chase’s Jamie Dimon (who reportedly turned down the idea of serving as Trump’s Treasury secretary), Walt Disney’s Bob Iger, and General Motors’ Mary Barra will share tips on how best to put together a “plan to bring back jobs and Make America Great Again,” according to the announcement of the forum’s founding. The press release was distributed by Blackstone; its CEO, Stephen Schwarzman, is chairing the forum...

Why aren't the Koch brothers on the "Let's Make America Great Again" panel? Walmart is there, why not the Kochs?

Walmart is going to destroy local economies all over again after "Mom and Pop" finally came back to life. This is an outrageous forum. 

Stephen A. Schwarzman (Forum Chairman), Chairman, CEO, and Co-Founder of Blackstone;

Blackstone. And the forum chairman. Is this looking more and more like SSI is on the chopping block to Wall Street. It sure looks that way to me. I don't think we need to hear much about what this forum is all about. We already know. 

Look, SSI is not up for grabs. It just isn't. That fund has been in existence in one form or another since the 1930s. Does anyone remember why SSI was originally started?

It was because the elderly were in poverty. Poverty was a common condition of the aged in the USA. I don't want that back and as far as I am concerned any inkling of privatization FAILED ROYALLY in 2008. So, Wall Street needs to put their balance sheets away because it ain't goin' ta happen. Eight years would require a very short memory by the American people. The younger Americans are concerned they will never make enough to matter in their senior years and they will be "The Working Poor" forever. That isn't what the welfare to work program of the USA was suppose to do. It was suppose to bring the impoverished to the ability to join the Middle Class. That isn't what happened. The welfare to work program permanently impoverished people. Now, they don't know what is going to happen to them day to day and certainly not into their senior years.

I don't trust Wall Street and that isn't going to change soon. If this advisory group should do anything it should make it clear to Mr. Trump that NATO is imperative to secure confidence in investment and Russia basically doesn't treat anyone from The West well. 

"Americans Fight to Expose Corruption in Russia" (click here)

Paul Atkins, CEO, Patomak Global Partners, LLC, Former Commissioner of the Securities and Exchange Commission;

Indeed. Classify him in there among Blackrock. I don't know how a global investment firm (if that is what Global Partners is) can be an LLC. Clever, but, a bit shady. 

Here he is:

Paul Atkins (click here) is chief executive of Patomak Global Partners, LLC. He founded the company in 2009 to leverage his decades of regulatory, policy, political and legal expertise to support and advise companies operating in the capital markets. His work is driven by his belief in the power of open, free and competitive capital markets that allow for opportunity.

From July 2002 to August 2008, Mr. Atkins served as a Commissioner of the U.S. Securities and Exchange Commission....

He was one of the guys that regulated the investment banks with mortgage backed securities (MBS). Then when the dust settled he went out on his own to build his own idea of safety in handling wealth, an LLC. Amazing. There was a time in the USA when LLCs were frowned on by most people, until "W" came along and legitimized them. LLCs are okay if the company is backed by a bond(s), but, just an LLC to be an LLC to avoid real liability isn't what that is suppose to be about. See, LLC is Limited Liability Corporation. That isn't suppose to be a perk so much as a warning to consumers. "W" managed to turn that designation on it's head.

But, he is in it to bring the SEC part of the privatization of Social Security. Lord only knows what would happen to Medicare. Maybe, "Medicare, LLC." What to do you think?

Mary Barra, Chairman and CEO, General Motors;

I think Mary Barra is great. Have you seen the commercials? Chevy is getting award after award after award. It leaves a person with a really good feeling about bailing out a company that is part of the USA landscape. She did us proud.

She also was introduced to her CEO with a problem in recalls and a dangerous ignition switch. She held her own.

I like her. I think she is tough when she needs to be and honest to Congressional panels. She is a winner. Chevy now reflects the influence of a person that loves the company enough to be a winner in the market place. She needs to get her electric cars out there. Tesla knows high performance is possible.

Mary Barra is a winner, now she has to be a competitor as well. 

Toby Cosgrove, CEO, Cleveland Clinic;

July 20, 2016
By Rebecca Lee 

...However, (click here for interview) according to Cleveland Clinic CEO Dr. Toby Cosgrove, it's unlikely that the law, now in its sixth year, will be totally dismantled. He says Obamacare may actually be having an effect closer to Trump's goal to "take care of everybody."

"What we see is access. We got now 20 million more people covered," Cosgrove told "CBS This Morning" Wednesday.

Cosgrove said that quality care metrics have been gradually improving, but the act is still falling short of its "principal objective" -- lowering costs....

I stated when the law was being debated in the US House the first two years (starting with 2014 and the opening of the insurance pools) would not see lower costs as people of poor health were finally having insurance. Those folks will be healthier and the changes to the cost would improve. What I didn't foresee was abuse by people handling very and chronically ill people purchasing ACA insurance rather than maintaining Medicaid as the insurance carrier. That has to be examined to raise the quality of care people receive under Medicaid. In other words there has to be a public option for these folks so they aren't part of the pools.

The inclusive nature of the ACA is why the debt burden for the Medicaid Expansion received 100 percent funding for the first two years. The expense to the states would be greater those two years. 

Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co;

No comment. JP Morgan Chase and Co. was the last bank standing before the bailout of 2008 under "W." Plenty of people were angry with Dimon in 2008. I didn't really 'get it' although he was among the banks that received bailouts. But, Dimon didn't want the bailout until he was required to participate. But, everyone knows Chase. I don't mind the company. It is huge and that is the reason why it was "The Last Bank Standing." Now there is a topic for an independent filmmaker. 

Everyone knows the London Whale. Dimon survived it at a stockholders' meeting. Then there are the very different Christmas cards. But, living at the peak of the Ivory Tower must breed a far different understanding of life. Then there is the last time I remember hearing Dimon testimony to Congress, there was some discussion about moving to London. Not him. The company. He along with the company, I suppose. But, to the best of my knowledge that hasn't happened yet. Maybe he was given a deal and Trump decided Congress was playing his tune. I don't know. I am just being, what is the word? ???? Oh, yeah, bombastic.

I actually believe Jamie Dimon is a reasonable person to have on an advisory board. What his company did reveal with the London Whale is that companies can and are too big to manage. Wasn't he the one that came up with the idea of "claw back?" I am sure that is an affectionate term to Trump; greed mixed with justification in the form of a vicious animal. I think Dimon stole some of that from the Putin persona, what do you think? 

Larry Fink, Chairman and CEO, BlackRock;

This is the Social Security privatization company.

BlackRock (click here) is trusted to manage more money than any other investment firm*. Our business is investing on behalf of our clients — from large institutions to parents and grandparents, teachers, nurses, doctors and people from all walks of life who entrust their savings to us.

I remember these guys. It was shortly after the 2008 global economic collapse they became more prominent/visible in their advertising and the dialogue in the ads were more inviting to average folks. The Blackrock I know is a private equity and venture capital company known for leveraged buy outs. 


In 2007, Blackstone Group bought Hilton Hotels for $26 billion through an LBO. Blackstone put up $5.5 billion in cash and financed $20.5 billion in debt. Before the financial crisis of 2009, Hilton had issues with declining cash flows and revenues. Hilton later refinanced at lower interest rates and improved operations. Blackstone sold Hilton for a profit of almost $10 billion.

But, after 2008, Blackrock decided to open it's investment platforms to individuals. They stated in their ads they nearly specialized in trusts for children, etc. I didn't like the new avenue although I understood they now were a new face to an old practice that was ruined because of 2008 and the ponzi scheme of Bernie Madoff. Blackrock was not part of the real estate bundling. But, if there is any reason Blackrock is on this committee or what is it called? Oh, yeah, an advisory group; it is because of the ideology to privatize Social Security. Lord only knows what they would do with Medicare. 

Bob Iger, Chairman and CEO, The Walt Disney Company;

Independent filmmakers are going to have to mount a fight against any assault on their craft. Disney is going to try to corner the market and make it more difficult for independents to distribute their films. Film festivals may want to examine the intent on any of Disney's recommendations. Disney should welcome consensus from the industry, but, something tells me that won't happen. In question is the limited rating system currently in use with films. Films are NOT made to fit into a category so there should be more classifications of films and even descriptions rather than ratings. Descriptions paint a picture, ratings victimize.

Rich Lesser, President and CEO, Boston Consulting Group;

Rich Lesser. That is a heck of a name, isn't it? It sounds like a Wall Street 12 step program.

...Welcome to the BCG Greater China website! (click here)

We hope to leverage this platform to provide a comprehensive introduction of the past, present, and future of BCG Greater China. On this site, you can learn more about our company, our expertise and practice areas in Greater China, our studies and insights, job opportunities and career path, as well as other important information.

Since 1980s, BCG has been committed to helping clients in Greater China create sustainable competitive advantage, providing highest-value strategic consulting services to clients including the world's top companies and leading local firms....

I am confounded as to what to think of Rich Lesser's involvement in the Trump advisory group. China? Really, Mr. Trump? I know Henry Paulson is jealous.

Doug McMillon, President and CEO, Wal-Mart Stores, Inc.;

I think I already said my piece about Walmart. But, considering Doug McMillon is in the same room with Rich Lesser, it is making more sense to realize since Wall Street could not have TPP and Mr. Trump has pledged not to institute TPP, there might be an alternative to TPP Doug and Rich can figure out.

Jim McNerney, Former Chairman, President, and CEO, Boeing;

Boeing has some issues. The WTO ruled against their US tax break for it's new jet, the Dreamliner (click here). The US Congress and/or Washington State is suppose to be looking at the ruling and determining the best way to handle it. 

See, the tax subsidy (click here) Boeing received for engineering, manufacturing and selling the Dreamliner can put it under the cost of other jet manufacturers such as Airbus. 

I think it is a tricky issue. On one hand Boeing did what the State of Washington wanted and produced a lighter more efficient jet. But, what the WTO doesn't seem to understand is that other jet companies are not competing with the Dreamliner. They are pointing a finger at Boeing and it's subsidy and demanding it compete at the same costs as their jets.

I think the WTO is wrong in this case.

The WTO should have pointed out the Dreamliner is a separate class of jet. The WTO should have told the other companies to compete within the same class and then decisions would be equitable to the costs of the others.

At any rate, if the US Congress and/or Washington State decides to remove the subsidies and Boeing has to pay the government, that will send Boeing into an unfortunate debt it never planned for and it will inhibit the invention and engineering of the very answers to the climate crisis. I think the US Congress needs to decide or ask the FAA to decide on the WTO ruling and return to the WTO for an appeal of sorts.

And there is this. (click here) A low cost airline company, Scoot, purchased a Dreamliner and evidently a loud bank and sparks were noticed by a passenger while in flight. I think it is a maintenance problem and the jet's records should be checked. Boeing should send a crew to Singapore, the place of Scoot's offices and jets, to examine the jet and determine it's problem. I don't think anyone can simply dismiss this incident as a one time issue.

Adebayo “Bayo” Ogunlesi, Chairman and Managing Partner, Global Infrastructure Partners;

This is background compliments of Bloomberg. 

Mr. Adebayo O. Ogunlesi, (click here) also known as Bayo, J.D. serves as the Managing Partner and Chairman of Global Infrastructure Partners. Mr. Ogunlesi serves as Managing Director and Head - Global Investment Banking at Harrisdirect LLC. Mr. Ogunlesi served as Executive Chairman of Credit Suisse First Boston (CSFB) (now Credit Suisse AG) and served as its Head of Investment Banking from 2002 to 2004 and Chief Client Officer from 2004 to 2006. He served as Head of Investment Banking at Credit Suisse (Deutschland) Aktiengesellschaft....

Deutschland, huh? I guess NATO has a place in this after all. But, look, if someone from Japan turns up; I'll start to think "Trilateral Commission." That must be a hot topic among the Trump supports.

This statement below from the Bloomberg assessment is the gold standard:

This person is connected to 13 Board Members in 13 different organizations across 13 different industries.

Mr. Ogunlesi has to be the most connected person on the advisory panel, committee or what the heck is this again? ????? Oh, yeah, the "Strategic and Policy Forum."

I should have known. What might be the most connected member of the "Strategic and Policy Forum" spent time at Goldman Sachs. Goldman Sachs is addicted to power. Every opportunity they can put one of their staff into government anywhere in the world it will happen. There is no other investment firm that is even similar to the influence peddling of Goldman Sachs.

Director Since: October 2012 (click here)

Goldman Sachs Committees: Governance (Chair), Ex-officio member: Audit,
Compensation, Public Responsibilities, Risk

Other Current U.S.-listed Public Company Directorships: Callaway Golf Company and Kosmos Energy Ltd.

Other U.S.-listed Public Company Directorships within past 5 years: None

IBM. Not necessarily young techy input, but, Ms. Rometty seems like a talented lady.

Ginni Rometty, Chairman, President, and CEO, IBM; (click here)

Ginni Rometty began her career with IBM in 1981 in Detroit. Since then she has held a series of leadership positions, most recently as senior vice president and group executive, IBM sales, marketing, and strategy.

Earlier she served as senior vice president, IBM Global Business Services, where she led the successful integration of PricewaterhouseCoopers Consulting. This acquisition was the largest in professional services history, creating a global team of more than 100,000 business consultants and services experts.

Mrs. Rometty serves on the Council on Foreign Relations, the board of trustees of Northwestern University, and the board of overseers and board of managers of Memorial Sloan-Kettering Cancer Center.

She holds a Bachelor of Science degree, with high honors, in computer science and electrical engineering from Northwestern University.

IBM is a cognitive solutions and cloud platform company that leverages the power of innovation, data and expertise to improve business and society.

I think this will be standard operating policy for the Trump administration. They will reach out to the established firms that have been forgotten. I am not saying IBM is a washed up company for all but the retirement of it's name. That isn't it. But, Trump came from an era of discovery and development. He feels comfortable in what he knows. He won't wander far from the earlier pioneers like IBM. It is my estimate Trump may reach out to these paragons of the 'originals' of American innovation because he sees them as underappreciated by current generations. He lacks familiarity with current generation techy companies. That is not a critique of IBM, it is a caution about the loyalties of Mr. Trump and how young companies and professionals need to bring him enlightenment of the world as they see it. I think Ms. Rometty is a wonderful inclusion to the "Strategy and Policy Forum." 

I think Mr. Trump should provide the recommendations of the "Strategy and Policy Forum" to the people and request a "Public Comment Period" before implementing any of the recommendations.  

Kevin Warsh, Shepard Family Distinguished Visiting Fellow in Economics, Hoover Institute, Former Member of the Board of Governors of the Federal Reserve System;

Someone has to bring Mr. Trump up to speed on monetary policy and The Fed.

Thank you. (click here) I am honored to join you. 2016 is the most consequential year for the U.S. and global economy since the darkest days of the financial crisis in 2008. So it’s high time that we question some of the persistent practices and trendy truisms that are influencing conduct of monetary policy. My remarks are not of high praise, but of the high purpose to which our profession is tasked. I speak today in the spirit of reforming the conduct of monetary policy. For those of us who believe strongly in the importance of the central bank, the cause of reform can ill-afford to wait. And I hope to recruit you in this endeavor. You stand with a strong footing in both economics and business, and are well situated to help reform the customs of the guild in which we are privileged to be charter members. So, take note, this will be a working lunch for all of us....

One has to recall "The Fed" is a very sensitive discussion with Trump supporters. They want to close it down. So, to extinguish the fire Mr. Trump will probably replace those coming up for re-nomination with people who may or may slightly see the world the way his supporters see The Fed, as an institution that has long over lived it's usefulness.

...Some people believe (click here) that the "money controllers" constitute the "secret government" of the world, and that most or all of the ostensible national governments are mere puppets of the "secret government" behind the scene....

There is some sort of reference/framework to nearly every counter culture belief that is reflected among the supporters of Trump. That doesn't mean it is a majority concensus, but, there are those with some credentials that will cater to a counter financial culture. I think that is what will be the tone of this administration. A hearkening back to a time when 'the original' founders were all there was and life was exciting in it's potential.

Be prepared for the counter culture that might get it's day of reckoning.

Mark Weinberger, Global Chairman and CEO, EY;

...In addition to his time at EY, Iclick here) Mark previously served as the Assistant Secretary of the United States Department of the Treasury (Tax Policy) in the George W. Bush Administration. Mark was also appointed by President Clinton to serve on the US Social Security Administration Advisory Board, which advises the President and Congress on all aspects of the Social Security system. Mark has also held other US government and policy positions, including Chief of Staff of President Clinton's 1994 Bipartisan Commission on Entitlement and Tax Reform; Chief Tax and Budget Counsel to US Senator John Danforth (R-Missouri); advisor to the National Commission on Economic Growth and Tax Reform; and Commissioner on the National Commission on Retirement Policy.

Mark was co-founder of Washington Counsel, P.C., a Washington D.C.-based law and legislative advisory firm that merged into EY and now operates as Washington Council EY....
Need I say more? Self-explanatory. There is nothing nostalgic about Mr. Trump's plans for SSI. Welcome to the exploitation of angry people in the electorate and the man that can deliver it. 
Jack Welch, Former Chairman and CEO, General Electric;

What happened to Jeffery Immelt? He was always at the White House.

Mr. Welch is a great man with the capacity to lead and motivate. His flavor of leadership spans decades at GE and moved the company immensely without the benefit of a global economic crash to facilitate a bailout and a Fed that worked without demanding influence to stabilize Wall Street. Mr. Welch's leadership does include finance with another LLC.

His expertise from the time when morality and dignity mattered is important. I think he is a good choice, but, he also needs to leave SSI alone.

...As CEO of GE, Mr. Welch's management skills (click here) became almost legendary. He had little time for bureaucracy and archaic business ways. Managers were given free reign as long as they followed the GE ethic of constant change and striving to do better. He ran GE like a small dynamic business able to change as opportunities arose or when a business became unprofitable.
GE saw great growth and expansion under Mr. Welch's leadership. Through streamlining operations, acquiring new businesses, and ensuring that each business under the GE umbrella was one of the best in its field the company was able to expand dramatically from 1981 to 2001.
In 1980, the year before Welch became CEO, GE recorded revenues of roughly $26.8 billion; in 2000, the year before he left, they were nearly $130 billion. The company went from a market value of $14 billion to one of more than $410 billion at the time of his retirement, making it the most valuable and largest company in the world, up from America's tenth largest by market cap in 1981.
In 1999, Fortune named him the "Manager of the Century," and the Financial Times recently named him one of the three most admired business leaders in the world today.
Mr. Welch is the head of Jack Welch, LLC, where he serves as Senior Advisor with the private equity firm, Clayton, Dubilier & Rice and is an advisor to IAC (Interactive Corp). He also speaks to business audiences and students around the world.
Mr. Welch is the author of Winning, a #1 Wall Street Journal and international bestseller. In 2001, he wrote his #1 New York Times and also international best-selling autobiography,...

Mr. Yergin is a so called energy expert.
Daniel Yergin, Pulitzer Prize-winner, Vice Chairman of IHS Markit

The Prize: the Epic Quest for Oil, Money, and Power received the Pulitzer Prize. These are his other books.

The first print of "The Prize" was 1991.

Mr. Yergin WAS an energy expert. His idea of energy is limited to punching holes in the ground and sometimes pouring chemicals in the ground that ultimately cause seismic activity. 

Papers Detail Industry's Role in Cheney's Energy Report (click here)

Also realize there is a direct line between Cheney's Energy Report under "W" and Russia and the Caspian Sea and Post Soviet States. The Cheney energy report mentioned here is when Ford was Vice President and "H.W." was President. I find the parallel between the energy report under "H.W." and "W" interesting. 

Ford's memo was dated March 20, 2001. (click here) In May that year, Bush issued an executive order similar to API's proposal.
Cheney appears to have played a more behind-the-scenes role in the task force's deliberations, the document indicates, listing only a handful of meetings with the vice president. Those included a previously reported meeting with Lay, who died last year; a meeting with officials from Sandia National Laboratories to discuss their economic models of the energy industry; and two sets of meetings with lawmakers. Cheney had other meetings, such as with John Browne, then the chief executive of BP, that were not listed on the task force's calendar.
The vice president also met with energy experts he had known, such as J. Robinson West, chairman of the Washington-based consulting firm PFC Energy and an old friend of Cheney's.
Those who met with Cheney said he was intensely interested in waning U.S. energy supplies, even though prices of oil and natural gas were much lower than they are today.
West agreed, and still agrees, with Cheney about opening up more areas in the United States and offshore for oil drilling, but he said he thinks the administration ended up not doing enough to dampen energy demand. West said he also urged in vain that the administration pursue a cap-and-trade system that would include China and India in an effort to reduce greenhouse gas emissions.
"I don't agree with the administration on a number of issues," said West, who gave a memo to Cheney with his views. "But this issue of Cheney being a stooge of the oil industry . . . there's nothing there."
Cheney and Lundquist also met with Daniel Yergin, chairman of Cambridge Energy Research Associates and author of "The Prize," a history of the oil industry. Yergin recalls discussing energy efficiency and natural gas data, which were then showing that increased drilling had for the first time not raised U.S. production....

So, here we are again. With Daniel Yergin emerging from the past while Howard Hamm is worried about his wealth as adviser to both Romney and Trump.

How long and how many times is the old energy paradigm going to be involved in the USA's energy policy?

There is a huge generation gap within the Trump administration and the future. The past cannot dictate the future. Not at a time when the future of American kids are burdened with a ridiculously hot Earth. This entire ideology is bullshit and dominated by old money and power. There is nothing in this "Strategy and Energy Forum" that will serve the children of the USA. NOTHING is beneficial to the USA.

What the "Strategy and Energy Forum" will achieve is THE UNTHINKABLE !!!!!

I had the displeasure of being in the company of a Tea Party member about a month ago. These people are crazy when it comes to politics. They actually want to do the unthinkable. This one particular woman stated she was disappointed when the federal government was refunded when the budget wasn't passed. I stated it was irresponsible to carry out such strategies. She stated she had hoped to defund the federal system and crash SSI and Medicare. I told her she isn't much of a Christian if she is willing to go that far for politics. It was then she smiled and stated, well maybe defunding SSI and Medicare might be going to far since the recipients did pay for them.

These people are crazy. They actually do want to do the unthinkable. They have no insight to outcomes if such drastic measures were allowed. Some of these folks are from the 'backwoods.' They found identity with Trumps radical dialogue, but, once they get involved they tend to back down from extremism a bit. One man actually told me during the primaries he wanted Trump to be nominated, but, changed his mind when he realized Trump was too course a personality to be a diplomat. He was intending to vote, though, when he never did before.

At this point, I have to say Donald Trump needs to be taken at face value. 

If he is saying it, he means it and will carry out his plans.

This doesn't make sense. If Russia can direct the USA away from NATO and sucker us in the Pacific we are then isolated and alone.

Recently, China didn't even reply to the WTO when the Philippines complained about trade and/or boundary issues. Now this? With the expansionist posture China has been taking regarding it's borders there must be tensions we aren't aware of and might not be aware of until it is too late.

Then to add to the confusion, Donald Trump, is speaking about Russia as a long lost friend.

I think there is a false sense of security occurring in the Asia-Pacific region. That is not even mentioning North Korea. None of this makes sense. A relationship with China that is hostile and one with Russia that is friendly. The puzzle pieces don't fit. Russia will never turn against China and vice versa. I think there is a dearly important break is real communication with China and Russia. 

Everyone knows Taiwan would love the USA to take on China and liberate Taiwan. That is crazy stuff and when it comes right down to it, I the leadership in Taiwan uses such language for politics, but, know there is no way there is going to be a confrontation between the USA and China, it would drag Russia into it, too.

I'd like to see the Secretary of State that will fix this. China is a vital partner to the issues with North Korea. 

See, Trump is used to talking to oligarchs in China and Russia. But, the oligarchs have no real government power. China has put a man to death when pets in the USA died. Talking to oligarchs is not like talking to the governments. Heck, there are issues of espionage that ended in death in Europe and Russia will never extradite the suspects.

Romney would recommend "Duck and Cover" and Bolton would be launching nukes the day of his confirmation. 

December 2, 2016
By Anne Gearan

President-elect Donald Trump (click here) spoke Friday with Taiwan’s president, a major departure from decades of U.S. policy in Asia and a breach of diplomatic protocol with ramifications for the incoming president’s relations with China.

The call is the first known contact between a U.S. president or president-elect with a Taiwanese leader since before the United States broke diplomatic relations with the island in 1979. China considers Taiwan a province, and news of the official outreach by Trump is likely to infuriate the regional military and economic power.

The exchange is one of a string of unorthodox conversations with foreign leaders that Trump has held since his election. It comes at a particularly tense time between China and Taiwan, which earlier this year elected a president, Tsai Ing-wen, who has refused to accept the notion of a unified China under Beijing’s rule. Her election angered Beijing to the point of cutting off all official communication with the island government....             

Rupert Murdoch shows his true colors in serving the American people.

I never doubted for a minute the fact Rupert Murdoch is not interested in the best interests of the American people. I was probably one of the some that found the "family values" on FOX News was about corporate profits while giving that "Feel good feeling."

"W" thought the only way Americans could keep their jobs was to become a Third World Company. I suppose that is still a potential under Trump if his executive branch alone handles jobs leaving the USA.

The idea is not just to keep jobs in the USA, but, to keep well paying jobs in the USA. The idea is not to impoverish the employees in order to pay the 35 percent tariffs either. 

There are several methods of taxing the has to go into place before anyone can say the Trump paradigm of keeping jobs in the USA is the American Workers best friend.

December 2, 2016
By Chris Isidore

In an editorial Friday entitled "Trump's Carrier Shakedown," (click here) the newspaper argues that President-elect Donald Trump's pressuring the company not to move jobs is bad for the economy, and for the workers in the long run. It said Carrier wanted to move the line to Mexico to remain competitive in the market.

"As U.S. auto workers have learned the hard way, real job security depends on the profitability of the business," the paper's editorial page said. "If the extra costs of staying in Indianapolis erode that business, those workers will lose their jobs eventually in any case."

The paper argues that Carrier had no choice but to give into Trump's pressure because of the threat of a 35% tariff on goods imported from Mexico, as well as the fact that parent company United Technologies (UTX) gets $5.6 billion a year, or 10% of its revenue, from defense contracts....

The sixteenth amendment to the USA Constitution provides for the collection of income taxes from workers. Before the early 1900s there was no federal income tax. The country was supported by tarrifs.

The Tariff Act of 1789 (click here) insured the treasury of the federal government.

As time went by the American worker became a force to contend with the growth of big business. Women working for Ma Bell were among the first workers to unionize and hold a strike. With the burgeoning power of unions came the definition of what a living wage was and even a good wage, because, Americans were becoming a market place force as well. 

Wall Street did not complain to loudly when the American worker translated into profits with higher demands for products and the improvement of quality of life. Places like restaurants and ultimately hotels and the purchase of trailers became profitable businesses. The fact is when Wall Street opened in 1817 it was the American worker that made it possible. Investors were no longer limited to one company they owned, it was now possible to invest in many companies and receive profits in the way of stockholders. 

For the most part Americans were in a good and fair place for nearly a century. Then came globalization. One can argue globalization started in the 15th century with Columbus, but, there is no indication until the 18th century there was an impact on American workers. But, the indications were the import of foreign workers to replace American workers at a far lower wage. It wasn't until the "Age of GMC's Roger Smith" (click here) did the American worker begin to feel the impact of globalization. 

The car industry is a huge part of the American economy. In the 21st century the car is a part of the culture and finding alternatives to petroleum is important. But, the fact the auto industry was not booming in the '80's and '90's speaks to the stagnant economy within the USA. Corporate American with the burgeoning of the draconian CEO began to destroy the American economy and trapped workers into paradigms now called "The Working Poor."

The salary structure of workers has to improve, not the importing of or the destructive drilling and fracking by the petroleum industry of the land, if there is to be significant growth. When Americans can purchase homes without difficulty and send their children to college without significant debt there will be an economy to match those opportunities. Up to now, the American worker was at the mercy of Wall Street due to the timid nature of the political tone. Politicians actively sought corporate money to run for office and in that came a power to Wall Street; Wall Street exploited and ensnare workers into cheap wages and destroy unions. Then the American worker was made to be grateful for the pittance of a paycheckS they received and thank god for any mercy shown to them.

The idea American workers could be harnessed for poor pay rates and had no power otherwise the ideology of "Trickle Down Economics" has been the bastion of deception by the Republican Party of the USA. Workers grateful for their paychecks became brainwashed that if they demanded better wages and benefits the business would close down and their jobs would be gone. 

Now, today comes Donald Trump and is promises. He wants to closes the porous borders of the USA to illegal immigrants and hike the protections of American jobs. So far, Carrier is the only Wall Street company to experience that, but, it is a bitter sweet reality. Carrier 'got a deal' to leave about half of the planned jobs in the USA while receiving millions over ten years. In addition, the retention of American jobs even cost the employees and they had to accept less pay which returns us to the "Southern Business Style" of praying to god for solace of what is the vast numbers of working poor.

The USA doesn't want the Working Poor. It is a product of another Republican ideology called welfare to work. The USA wants good wages for their workers in recognition of the quality work they provide and the SPRING BOARD to much larger companies that can seek profits in other countries. The American Worker doesn't exist to be exploited, but, to provide an opportunity for profits that can be applied to building outside the USA. 

We'll see. I remain skeptical to the "Trump Effect" in Washington, DC. There is a long and standing ideology of Republicans that panders to corporate profits while abandoning workers to their holy men. That is going to be a challenge and if a tariff is to be retooled to serve the USA's worker it also serves the USA's economy. If a poll was taken today of the Congress, they would say, "What is a tariff and why would I vote for one." 

Mr. Trump has his work cut out for him and the American worker will be watching with expectations. Will those expectations be met or will they fall short of providing real jobs security in the USA?