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Zoom blessedwithgloriousbutt:

maycontainfeminists:


One of the best examples of artistic integrity on a corporate scale.

wow. 

No matter how many times I see this, I never fail to be impressed by that last sentence.

blessedwithgloriousbutt:

maycontainfeminists:

One of the best examples of artistic integrity on a corporate scale.

wow. 

No matter how many times I see this, I never fail to be impressed by that last sentence.

07.24.14 88003
07.24.14 7252
Zoom
07.24.14 3286
How about those fans let Beyonce shop in peace, like damn, leave her alone and them following her to her hotel is creepy and dangerous.

Asked by Anonymous

jcoleknowsbest:

blacksupervillain:

adoringbeyonce:

!!!!!!!! Here’s something from Angie’s (her cousin) interview with Out: 

I do believe that if she could sing under a secret identity and still affect people and touch their lives that she’d rather not be famous. That, if she had her choice, she’d rather take off her shoes and do cartwheels in the park. That’s really who she’d like to be. But unfortunately that’s something you give up when you become as famous as she is. We’ve tried it many times. We tried it in London a few summers ago—Tina, Solange, and myself. We were riding bikes and just hanging out, and Beyoncé was at the hotel and was, like, “I’m coming!” And we waited, and she got there and arrived with a big crowd of people behind her. We tried to ignore it, but even in that moment she said, “You guys enjoy the day and I’m going to go.” And she left. But she doesn’t complain about it.

Now I’m imagining beyonce walking through london, sobbing while a mob behind her goes “yaaaaaassss”

This is so sad to me…

this is super sad, I wish people would remember that celebs are human too.

07.24.14 577
15-Year-Old African Kid Tells Madonna To Go ‘Have Sex’ with Herself

almightykushlord:

Dakarai Molokomme, a 15-year-old starving child from a small village in Zimbabwe, has just told , one of the most famous pop stars in the world, to  and f*** , the local media are reporting exclusively.

“Yes, it’s true, I told Madonna to go f*** herself. Do you want to know why?” Dakarai asked. “It’s the same thing every time with these snobby rich Americans. Every once in a while they come to show us their support for the so-called eradication of poverty by adopting a child from a starving family, but they actually do more harm than good. Transracial international adoptions are part of the white savior industrial complex,” Dakarai explained.

In further discussions with journalists from the media, the  stated that “none of the children here actually want to be taken away from their family and friends so they can be displayed as some kind of trophy in the homes of self-righteous singers or actors who want to score some points with the media and Oprah.”

“If they really want to help us, they should get Big Pharma to ship us some anti-retroviral drugs for the AIDS epidemic, or build schools and hospitals. If they don’t want to do that, then they can all go f** themselves!” the child told reporters.

The 15-year-old also stated that he would say the same thing to any one of those American or European “faux humanitarian posers”, except for Bono, whom he said he would also kick in the groin.

“Bono’s efforts to save the African savage from itself prove that the colonial imperative is alive and well,” Dakarai said as he walked with other village children collecting sticks to build a tree fort.

THIS IS THE RAWEST 15 YEAR OLD ALIVE

trill ass 15 year old

07.24.14 142502
Zoom dynastylnoire:

yarrahs-life:

areddrum:

h0ney-dipped:

bossladyrah:

showingorexpressinglove:

mikelovehall:

Interesting..

she’s caring for their child, while keeping her man lifted so he can concur the world….I can dig it! lol

peep the flag under her foot

yep, and the globe says mother africa. true black love 😍

yes

Love the comments!

She’s got a grown man on her back, with the weight of both the world and him on top of her.
y’all forever talking about stay woke but don’t see how this is oppressive as hell.

this is accurate

dynastylnoire:

yarrahs-life:

areddrum:

h0ney-dipped:

bossladyrah:

showingorexpressinglove:

mikelovehall:

Interesting..

she’s caring for their child, while keeping her man lifted so he can concur the world….
I can dig it! lol

peep the flag under her foot

yep, and the globe says mother africa.
true black love 😍

yes

Love the comments!

She’s got a grown man on her back, with the weight of both the world and him on top of her.

y’all forever talking about stay woke but don’t see how this is oppressive as hell.

this is accurate

07.24.14 9188

rastaqueen3000ad:

theladybadass:

Nina Simone performing at the Harlem Cultural Festival (1969)

the feelz

& they have Zoe Saldana trying to re-create this greatness

07.23.14 5469
And how hard is it to land even a minimum-wage job? This year, the Ivy League college admissions acceptance rate was 8.9%. Last year, when Walmart opened its first store in Washington, D.C., there were more than 23,000 applications for 600 jobs, which resulted in an acceptance rate of 2.6%, making the big box store about twice as selective as Harvard and five times as choosy as Cornell. Telling unemployed people to get off their couches (or out of the cars they live in or the shelters where they sleep) and get a job makes as much sense as telling them to go study at Harvard.
07.23.14 43129

yivialo:

bohemianrationalist:

oh damn. what’s the model on the first bike? ALSO HOLY SHIT SPIRAL CURL FRO

BYE!

07.23.14 3090

so-nerdy-it-hurts:

There are over 526 million black women in the world, all with different appearances, and your racist ass is going to say not liking black women is a ‘preference’, when the only damn thing they all got in common physically is their blackness? Sure, honey. 

07.23.14 32363

dglsplsblg:

Little Richard being completely serious (x)

in 2014 they are still trying to give all the credit to fucking elvis.
07.23.14 12523
The problem is that white people see racism as conscious hate, when racism is bigger than that. Racism is a complex system of social and political levers and pulleys set up generations ago to continue working on the behalf of whites at other people’s expense, whether whites know/like it or not. Racism is an insidious cultural disease. It is so insidious that it doesn’t care if you are a white person who likes black people; it’s still going to find a way to infect how you deal with people who don’t look like you. Yes, racism looks like hate, but hate is just one manifestation. Privilege is another. Access is another. Ignorance is another. Apathy is another. And so on. So while I agree with people who say no one is born racist, it remains a powerful system that we’re immediately born into. It’s like being born into air: you take it in as soon as you breathe. It’s not a cold that you can get over. There is no anti-racist certification class. It’s a set of socioeconomic traps and cultural values that are fired up every time we interact with the world. It is a thing you have to keep scooping out of the boat of your life to keep from drowning in it. I know it’s hard work, but it’s the price you pay for owning everything.

Scott Woods (X)

he motherfucking dropped the truth.

(via mesmerisme)

THAT’S THE PRICE YOU PAY FOR OWNING EVERYTHING

(via queerfabulousmermaid)

07.23.14 86424
Zoom blue-author:

tydon:

bessibels:

neverbat:

mylittledraenei:

blue-author:

addictinginfo:

Minimum wage should be linked to the poverty level. 

This is basic economic fact.
A business that claims it can’t afford to pay a living wage to its workers is admitting that by definition it fails to meet its basic operating expenses. That major multinational corporations can be “successful” while failing to meet a basic operating expense is only possible because We The People pick up their greedy/lazy slack through taxes and charity. 
And yet somehow it’s everybody else who’s a moocher and a looter…
And this corrosive greed is a big part of what’s slowly poisoning the U.S. economy. Money being hoarded at the top and put in “safe” investments and bank accounts is money that does nothing for no one. It’s just an elaborate means of keeping score. Money put into the hands of the workers does what money is meant to do: it circulates. It gets spent. The same dollar will go through dozens of sets of hands, touching dozens of lives, feeding dozens of people and sparking profits for dozens of businesses. The same dollar, in the hands of the rich, will generally do… nothing. It won’t create jobs. It won’t fund innovations. It won’t start businesses.
Less than 1% of corporate revenues become wages for workers. Less than 3% of the wealthy are actually entrepreneurs (people who risk their money on business ventures that create jobs). 
But 100% of the working class spends their money. That money creates jobs. That money fuels innovations. That money becomes profits. That money keeps the economy ticking.
We have been lied to about who are the parasites and who are the drivers of the economy. We have largely accepted a view of money as a means of keeping score and the economy as something that must have winners and losers, rather than money being a proxy for barter and an economy being a way to divide the labor of society and distribute the load of living

#poverty #classism

"A business that claims it can’t afford to pay a living wage to its workers is admitting that by definition it fails to meet its basic operating expenses."

"Less than 1% of corporate revenues become wages for the workers."

I’m sorry. But this shows a lack of basic economic knowledge. Money sitting in a bank does not slow down the economy in any way. The way banks lend out money is by taking it out of people’s savings. So when a billionaire has money sitting in his account it is actually being loaned out to businesses to start up, or to homeowners to get a mortgage for their house. Having all the wealth at the top is actually the most efficient way. However much it sucks. This is where government is supposed to step in and provide equality. However in the us specifically due to gerrymandering, there is the most unproductive US government in history, and since they all have so much job security they have no problem taking bribes from lobbyists. At this point I would honestly not consider the US a democracy. Democracy demands choice, of whichever there is none in the current system. I believe any of the founding fathers would agree. That is what has lead to the income inequality. A broken government, not a broken economic system. Capitalism is the greatest invention of human kind. Even Karl Marx admitted it. Anyone who says otherwise is simply undereduated on the matter.
Edit: woops, I forgot to say that I whole heartedly agree about paying a living wage. Only your reasoning was critically flawed

Folks, this morning I got an ask in my inbox from the learned individual above me. It said “Please refrain from making up statistics. It does everyone a disservice.” No context, no explanation of what it might have been in reference to, and not a thought in the asker’s head that while whatever had prompted it might have been fresh and new in his mind, it was likely something days or weeks or even months old.
I point this out because thinking that his message alone was sufficient to convey any meaning to me shows both a failure of critical thinking and of empathy, both of which are key to believing that pure unbridled capitalism is the greatest system on earth.
Even though when one receives nonsense in their inbox—and a drive-by observation with no indication about what the observation is about is nonsense, let’s make no mistake—there’s no obligation to puzzle out for oneself what one’s correspondent couldn’t be bothered to make clear, I came to this blog to see if I could spot what might have prompted it, and here it is.
I’ll note that this person had nothing to say about the statistics I used in the actual reply to this post, which is a convenient omission… the asker would like to believe that the stats are made-up, but is clearly not confident in that belief.
Anyway.
Tydon.
You have an overly simplistic view of how banks operate, but I’m glad you brought them up, because they offer a fairly recent example of how the economy is better served when money circulates closer to the bottom.
See, banks don’t literally take Moneybags Q. Rockefeller’s money from his account and give it to anyone who needs a loan. In point of fact, the money that banks lend out is represented by only a fraction of their actual liquid holdings. 
The money banks lend out is actually borrowed directly from the federal reserve at a lower interest rate, with the bank’s assets that include Moneybags Q. Rockefeller’s cash simply the collateral. This is why the interest rate the bank will give you on your savings and charge you on your loans is tied to the federal reserve interest rate.
And actually, you can read the sentence “They don’t literally take Moneybags Q. Rockefeller’s money from his account and give it to anyone who needs a loan.” sentence with emphasis on either clause, because they really don’t give it to just anyone who needs a loan.
Maybe you’ve only recently started paying attention to the world, but you might recall that during the biggest round of the “too big to fail” bank bailouts, the decision was made to resolve the then-current level of crisis by pumping money into the banks to keep them solvent. The idea was that not only would this save the banks, but it would save the economy, because at that time, banks weren’t lending. There was a credit freeze, because their outstanding liabilities (loans, money they were owed) had too low a ratio against their cash on hand.
(Note that it’s not that they didn’t have enough cash on hand to cover their liabilities; they never do. It’s that the fraction was too low to allow them to do so.)
So the banks were either too broke or too nervous to lend money, and the economy ground to a halt, because we have a debt-driven society where individuals mostly lack the capital needed to start a business, build a home, or buy a vehicle, even though these can be essential parts of life and are major drivers of the economy.
(Sidenote: Capitalism! The greatest invention! will always and inevitably eventually lead us to the point where the economy grinds to a halt, because the competition that capitalism depends on has no reset button. Imagine if every time a team won a football game, they were allowed to carry over their score to the next game, and if they lost, they started over at 0. How many seasons would it be before a few teams had an unbeatable spread? And then next year, those teams would have an even bigger advantage. It takes an outside force—like government regulation—to ensure that the competition that capitalism depends on to do anything but produce an unsustainable oligarchy actually remains competitive.)
So, the American people or at least our representatives were sold on this marvelous plan whereby we give this money directly to the banks and they will then be free to start lending again.
Do you remember what happened next?
Do you?
I do!
Nothing.
The banks, recognizing that the system was still shaky and volatile and that their basic position hadn’t changed, hoarded the money. The credit freeze continued. 
It was a classic case of “YOU HAD ONE JOB!” We gave the money to the banks with a clear expectation of how it would be used, but no enforcement clause because ew, regulation, and because rational self-interest, and because invisible hand of the free market… but apparently the invisible hand was taking a personal day, because the predicted market forces did not act upon the banks and they acted in irrational self-interest to preserve themselves in a way that prolonged the crisis that was endangering them.
Even now it is markedly harder for the average person to get a loan for… well, anything. Loans have resumed, but money is still mainly circulating near the top, which in terms of overall health of an economy, is not much different from money being hoarded at the top.
Now, there was an alternate bailout plan that never got much traction for reasons having to do with the cultural consciousness of the U.S and how it’s been warped by worship of capitalism and the related “Just World” fallacy.
The alternate plan would have been to bail out the people whose homes were being foreclosed upon, the people whose mortgages were at the crux of that aspect of the crisis. Just take the same money and start paying off mortgages and other loans.
Now! What would the result have been? Well,the first thing is: the banks still get the same money. The money ends up in the hands of the bank. But all those people making mortgage payments also effectively get that money. Because the money they would have used for a payment is still in their hands, at whatever point they would have gotten it.
We the taxpayers spend the same money, but double the results! Magic, isn’t it? And the magic doesn’t stop there, because… again… the money in the homeowners’ hands will be spent, and passed on to someone else, who will spend it again, and again, and again… right on up the chain.
The extra money that the bailed out homeowners would have gotten due to the alternate plan would have still ended up at the top. Because that’s how capitalism works. So there’s no reason except base, venal greed of those at the top to oppose “bottom up” economics like this, and the economic lift they generate benefits the people at the top all the more.
A dollar released into the economy will keep being spent until it’s in the pocket of someone who can afford to save it, at which point it will be saved in a bank or invested in the markets. Even if you think the best place for the dollar is the bank/the markets, letting it run up the ladder first is helpful.
And the banks, under this plan? The banks can increase their lending based on this influx of cash, but we’re not depending on their generosity to jumpstart the economy as much as we did under the bailout we gave them. And since they’re no longer holding so many unstable assets but they also can’t look to the paid-off mortgages as a potential source of income, they have more of a reason to start making more loans, which from the bank’s point of view is an investment. Their lending is also emboldened by a rosier financial outlook, because all those people whose mortgages were paid off? They have a higher credit score. They have more money. They have fewer worries. They have more cash and more reason to spend it, which the economy kind of needs.
And the economic gains don’t stop there! A lot of people whose mortgages were “failing” (though “sabotage” might be a better word, though that’s another post) went through foreclosure. There’s a cascade effect here, as people who lose a house often lose so much more. First, there’s the equity they had in the house. The bank does not pay them back the money they’ve put in the house. They don’t “own their share” of the house, however long they’ve been paying off the mortgage. Second, there’s the expense of moving—if they could find another place—or the reality of homelessness, which makes it harder to hold a job or access basic services.
Basically, a foreclosure is one of the most expensive things a person can go through, but it’s something you only go through if you can’t afford it.
Capitalism! The greatest invention of mankind!
Now, let’s talk about all those foreclosed homes. Under the “money belongs in banks, that will jumpstart the economy!” plan, the banks ended up the proud owners of millions of empty houses that no one could afford to buy.
Is this good for the banks? No. Is it good for the economy? No. A house depreciates in value each year; an empty house deteriorates rapidly. The average foreclosed home in a bad economy is not an asset to a bank, but a liability that they feel in their hearts should be an asset.
According to the almighty laws of supply and demand, all those empty houses should have created a bonanza for first time homebuyers. It should have been a buyer’s market. Did you know banks have been paying to have empty houses bulldozed rather than maintaining them? Did you know that several municipalities have created—at the urging of banks—programs where banks can donate the land that was under these houses to the city for tax credits (that don’t come close to the value of the land, but if no one can afford to build or buy a house, then they can’t sell the land)?
According to basic market economics, if a bank is paying a dude in a bulldozer $2,000 (note: arbitrary figure, insert whatever number sounds realistic to you here) to destroy a house, I should be able to walk up and say, “Gentlemen, I will solve your problem for the low, low cost of $1,800.” As in, they pay me to take the house off their hands. Why shouldn’t they? If things worked the way the fairy tale version of capitalism says they should, banks would give away homes or pay people to take them before they paid more to destroy them.
And yet that didn’t happen, because the banks realized that if they sold their houses below “market value”, the price of homes would fall, and the value of their holdings would fall even farther. Note that “market value” here is not actual market value, the actual price the market will bear. According to fairy tale capitalism, with all these banks in the country we would just need to find the one bank that’s willing to deal fairly and give it our business and the other banks would follow suit or fall behind. 
But that doesn’t work if the banks are more interested in protecting their own game.
So all those empty houses, deteriorating, losing value… people pumped a lot of money into those houses and a lot of that value is just gone. Rotted. Burned. Bulldozed.
If we’d injected the money closer to the bottom than the top, that value would still be around. We could have saved that value.
We have had decades of experience in all the myriad ways that trickle-down economics don’t work, but the main reason is the simplest: money doesn’t trickle down in a capitalist system. Expecting it to is like expecting the higher scoring team in a game’s points to leak over to the other team’s side.
If we’d bailed out from the bottom up… the banks would have gotten their money, but everyone else would have benefited and the economy would have been lifted as all those dollars “trickled up”.

blue-author:

tydon:

bessibels:

neverbat:

mylittledraenei:

blue-author:

addictinginfo:

Minimum wage should be linked to the poverty level. 

This is basic economic fact.

A business that claims it can’t afford to pay a living wage to its workers is admitting that by definition it fails to meet its basic operating expenses. That major multinational corporations can be “successful” while failing to meet a basic operating expense is only possible because We The People pick up their greedy/lazy slack through taxes and charity. 

And yet somehow it’s everybody else who’s a moocher and a looter…

And this corrosive greed is a big part of what’s slowly poisoning the U.S. economy. Money being hoarded at the top and put in “safe” investments and bank accounts is money that does nothing for no one. It’s just an elaborate means of keeping score. Money put into the hands of the workers does what money is meant to do: it circulates. It gets spent. The same dollar will go through dozens of sets of hands, touching dozens of lives, feeding dozens of people and sparking profits for dozens of businesses. The same dollar, in the hands of the rich, will generally do… nothing. It won’t create jobs. It won’t fund innovations. It won’t start businesses.

Less than 1% of corporate revenues become wages for workers. Less than 3% of the wealthy are actually entrepreneurs (people who risk their money on business ventures that create jobs). 

But 100% of the working class spends their money. That money creates jobs. That money fuels innovations. That money becomes profits. That money keeps the economy ticking.

We have been lied to about who are the parasites and who are the drivers of the economy. We have largely accepted a view of money as a means of keeping score and the economy as something that must have winners and losers, rather than money being a proxy for barter and an economy being a way to divide the labor of society and distribute the load of living

#poverty #classism

"A business that claims it can’t afford to pay a living wage to its workers is admitting that by definition it fails to meet its basic operating expenses."

"Less than 1% of corporate revenues become wages for the workers."

I’m sorry. But this shows a lack of basic economic knowledge. Money sitting in a bank does not slow down the economy in any way. The way banks lend out money is by taking it out of people’s savings. So when a billionaire has money sitting in his account it is actually being loaned out to businesses to start up, or to homeowners to get a mortgage for their house. Having all the wealth at the top is actually the most efficient way. However much it sucks. This is where government is supposed to step in and provide equality. However in the us specifically due to gerrymandering, there is the most unproductive US government in history, and since they all have so much job security they have no problem taking bribes from lobbyists. At this point I would honestly not consider the US a democracy. Democracy demands choice, of whichever there is none in the current system. I believe any of the founding fathers would agree. That is what has lead to the income inequality. A broken government, not a broken economic system. Capitalism is the greatest invention of human kind. Even Karl Marx admitted it. Anyone who says otherwise is simply undereduated on the matter.

Edit: woops, I forgot to say that I whole heartedly agree about paying a living wage. Only your reasoning was critically flawed

Folks, this morning I got an ask in my inbox from the learned individual above me. It said “Please refrain from making up statistics. It does everyone a disservice.” No context, no explanation of what it might have been in reference to, and not a thought in the asker’s head that while whatever had prompted it might have been fresh and new in his mind, it was likely something days or weeks or even months old.

I point this out because thinking that his message alone was sufficient to convey any meaning to me shows both a failure of critical thinking and of empathy, both of which are key to believing that pure unbridled capitalism is the greatest system on earth.

Even though when one receives nonsense in their inbox—and a drive-by observation with no indication about what the observation is about is nonsense, let’s make no mistake—there’s no obligation to puzzle out for oneself what one’s correspondent couldn’t be bothered to make clear, I came to this blog to see if I could spot what might have prompted it, and here it is.

I’ll note that this person had nothing to say about the statistics I used in the actual reply to this post, which is a convenient omission… the asker would like to believe that the stats are made-up, but is clearly not confident in that belief.

Anyway.

Tydon.

You have an overly simplistic view of how banks operate, but I’m glad you brought them up, because they offer a fairly recent example of how the economy is better served when money circulates closer to the bottom.

See, banks don’t literally take Moneybags Q. Rockefeller’s money from his account and give it to anyone who needs a loan. In point of fact, the money that banks lend out is represented by only a fraction of their actual liquid holdings. 

The money banks lend out is actually borrowed directly from the federal reserve at a lower interest rate, with the bank’s assets that include Moneybags Q. Rockefeller’s cash simply the collateral. This is why the interest rate the bank will give you on your savings and charge you on your loans is tied to the federal reserve interest rate.

And actually, you can read the sentence “They don’t literally take Moneybags Q. Rockefeller’s money from his account and give it to anyone who needs a loan.” sentence with emphasis on either clause, because they really don’t give it to just anyone who needs a loan.

Maybe you’ve only recently started paying attention to the world, but you might recall that during the biggest round of the “too big to fail” bank bailouts, the decision was made to resolve the then-current level of crisis by pumping money into the banks to keep them solvent. The idea was that not only would this save the banks, but it would save the economy, because at that time, banks weren’t lending. There was a credit freeze, because their outstanding liabilities (loans, money they were owed) had too low a ratio against their cash on hand.

(Note that it’s not that they didn’t have enough cash on hand to cover their liabilities; they never do. It’s that the fraction was too low to allow them to do so.)

So the banks were either too broke or too nervous to lend money, and the economy ground to a halt, because we have a debt-driven society where individuals mostly lack the capital needed to start a business, build a home, or buy a vehicle, even though these can be essential parts of life and are major drivers of the economy.

(Sidenote: Capitalism! The greatest invention! will always and inevitably eventually lead us to the point where the economy grinds to a halt, because the competition that capitalism depends on has no reset button. Imagine if every time a team won a football game, they were allowed to carry over their score to the next game, and if they lost, they started over at 0. How many seasons would it be before a few teams had an unbeatable spread? And then next year, those teams would have an even bigger advantage. It takes an outside force—like government regulation—to ensure that the competition that capitalism depends on to do anything but produce an unsustainable oligarchy actually remains competitive.)

So, the American people or at least our representatives were sold on this marvelous plan whereby we give this money directly to the banks and they will then be free to start lending again.

Do you remember what happened next?

Do you?

I do!

Nothing.

The banks, recognizing that the system was still shaky and volatile and that their basic position hadn’t changed, hoarded the money. The credit freeze continued. 

It was a classic case of “YOU HAD ONE JOB!” We gave the money to the banks with a clear expectation of how it would be used, but no enforcement clause because ew, regulation, and because rational self-interest, and because invisible hand of the free market… but apparently the invisible hand was taking a personal day, because the predicted market forces did not act upon the banks and they acted in irrational self-interest to preserve themselves in a way that prolonged the crisis that was endangering them.

Even now it is markedly harder for the average person to get a loan for… well, anything. Loans have resumed, but money is still mainly circulating near the top, which in terms of overall health of an economy, is not much different from money being hoarded at the top.

Now, there was an alternate bailout plan that never got much traction for reasons having to do with the cultural consciousness of the U.S and how it’s been warped by worship of capitalism and the related “Just World” fallacy.

The alternate plan would have been to bail out the people whose homes were being foreclosed upon, the people whose mortgages were at the crux of that aspect of the crisis. Just take the same money and start paying off mortgages and other loans.

Now! What would the result have been? Well,the first thing is: the banks still get the same money. The money ends up in the hands of the bank. But all those people making mortgage payments also effectively get that money. Because the money they would have used for a payment is still in their hands, at whatever point they would have gotten it.

We the taxpayers spend the same money, but double the results! Magic, isn’t it? And the magic doesn’t stop there, because… again… the money in the homeowners’ hands will be spent, and passed on to someone else, who will spend it again, and again, and again… right on up the chain.

The extra money that the bailed out homeowners would have gotten due to the alternate plan would have still ended up at the top. Because that’s how capitalism works. So there’s no reason except base, venal greed of those at the top to oppose “bottom up” economics like this, and the economic lift they generate benefits the people at the top all the more.

A dollar released into the economy will keep being spent until it’s in the pocket of someone who can afford to save it, at which point it will be saved in a bank or invested in the markets. Even if you think the best place for the dollar is the bank/the markets, letting it run up the ladder first is helpful.

And the banks, under this plan? The banks can increase their lending based on this influx of cash, but we’re not depending on their generosity to jumpstart the economy as much as we did under the bailout we gave them. And since they’re no longer holding so many unstable assets but they also can’t look to the paid-off mortgages as a potential source of income, they have more of a reason to start making more loans, which from the bank’s point of view is an investment. Their lending is also emboldened by a rosier financial outlook, because all those people whose mortgages were paid off? They have a higher credit score. They have more money. They have fewer worries. They have more cash and more reason to spend it, which the economy kind of needs.

And the economic gains don’t stop there! A lot of people whose mortgages were “failing” (though “sabotage” might be a better word, though that’s another post) went through foreclosure. There’s a cascade effect here, as people who lose a house often lose so much more. First, there’s the equity they had in the house. The bank does not pay them back the money they’ve put in the house. They don’t “own their share” of the house, however long they’ve been paying off the mortgage. Second, there’s the expense of moving—if they could find another place—or the reality of homelessness, which makes it harder to hold a job or access basic services.

Basically, a foreclosure is one of the most expensive things a person can go through, but it’s something you only go through if you can’t afford it.

Capitalism! The greatest invention of mankind!

Now, let’s talk about all those foreclosed homes. Under the “money belongs in banks, that will jumpstart the economy!” plan, the banks ended up the proud owners of millions of empty houses that no one could afford to buy.

Is this good for the banks? No. Is it good for the economy? No. A house depreciates in value each year; an empty house deteriorates rapidly. The average foreclosed home in a bad economy is not an asset to a bank, but a liability that they feel in their hearts should be an asset.

According to the almighty laws of supply and demand, all those empty houses should have created a bonanza for first time homebuyers. It should have been a buyer’s market. Did you know banks have been paying to have empty houses bulldozed rather than maintaining them? Did you know that several municipalities have created—at the urging of banks—programs where banks can donate the land that was under these houses to the city for tax credits (that don’t come close to the value of the land, but if no one can afford to build or buy a house, then they can’t sell the land)?

According to basic market economics, if a bank is paying a dude in a bulldozer $2,000 (note: arbitrary figure, insert whatever number sounds realistic to you here) to destroy a house, I should be able to walk up and say, “Gentlemen, I will solve your problem for the low, low cost of $1,800.” As in, they pay me to take the house off their hands. Why shouldn’t they? If things worked the way the fairy tale version of capitalism says they should, banks would give away homes or pay people to take them before they paid more to destroy them.

And yet that didn’t happen, because the banks realized that if they sold their houses below “market value”, the price of homes would fall, and the value of their holdings would fall even farther. Note that “market value” here is not actual market value, the actual price the market will bear. According to fairy tale capitalism, with all these banks in the country we would just need to find the one bank that’s willing to deal fairly and give it our business and the other banks would follow suit or fall behind. 

But that doesn’t work if the banks are more interested in protecting their own game.

So all those empty houses, deteriorating, losing value… people pumped a lot of money into those houses and a lot of that value is just gone. Rotted. Burned. Bulldozed.

If we’d injected the money closer to the bottom than the top, that value would still be around. We could have saved that value.

We have had decades of experience in all the myriad ways that trickle-down economics don’t work, but the main reason is the simplest: money doesn’t trickle down in a capitalist system. Expecting it to is like expecting the higher scoring team in a game’s points to leak over to the other team’s side.

If we’d bailed out from the bottom up… the banks would have gotten their money, but everyone else would have benefited and the economy would have been lifted as all those dollars “trickled up”.

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Zoom imlightskintho:

nigerianroyal:

theblackandgreenmartian:

thesoftghetto:

thaunderground:

ctron164:

babycakesbriauna:

redrubied:

This dude right here….










Leak his address!

What the hell did I just read?



Kanye really gotta stop the bullshit. He’s trying to force us into thinking Kim has actually done something and I’m tired of his comparison of shit to treatment of blacks in the 60s. STOP

imlightskintho:

nigerianroyal:

theblackandgreenmartian:

thesoftghetto:

thaunderground:

ctron164:

babycakesbriauna:

redrubied:

This dude right here….

image

image

Leak his address!

What the hell did I just read?

image

Kanye really gotta stop the bullshit. He’s trying to force us into thinking Kim has actually done something and I’m tired of his comparison of shit to treatment of blacks in the 60s. STOP

07.23.14 1243

thoughtsofablackgirl:

blackhaireverywhere:

crimsong19:

consultingpiskies:

Jessica Williams speaks with Sgt. Jasmine Jacobs about Army regulation AR 670-1

Jessica Williams and Travon (one of the staff writers) do it again!

THIS is why white women can’t be in the natural hair movement

Had to bold that comment

the bolded!!! because you will never have to deal with this…EVER

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