EveryJoe » Jon Stewart

Friday Fun Video: Pyramid Economy

Miranda Marquit — Fri, 07 Aug 2009 14:25:13 +0000

We’ve all heard of pyramid schemes, where everyone at the bottom supports those at the top. Those at the top get what they need before the pyramid collapses, leaving everyone else in ruins. Jon Stewart has an interesting take on the economy as a pyramid — with Goldman Sachs at the top. With Goldman raking in huge profits in the second quarter, it seems clear that the banking industry is going to be just fine. But what about the rest of us?

The news is getting a little bit better. Today, it was revealed that the unemployment rate has actually dropped. This is a surprise, since analysts had forecasted a rise from 9.5% to 9.6%. Instead unemployment eased down to 9.4%. This news is heartening, and could be an indicator that the recession is winding down, and the effects on the “regular folks” are starting to reverse.

Of course, that doesn’t make most of us feel better about the trillions that went to bail out banks during the Bush II Administration (don’t forget: then-Treasury secretary Henry Paulson was a Goldman CEO in a former life), and the billions that still went to them after the change in political leadership. But at least the bottom of the pyramid is starting to see some positive changes.

Post from: EveryJoe

Friday Fun Video: Pyramid Economy

Friday Fun Video: Jon Stewart & Jim Cramer

Miranda Marquit — Fri, 13 Mar 2009 12:55:05 +0000

I know it’s kinda serious for Jon Stewart. But it’s good, solid stuff.

Happy Friday!

Post from: EveryJoe

Friday Fun Video: Jon Stewart & Jim Cramer

Does Obama’s Success Depend on the Dow?

Miranda Marquit — Sat, 07 Mar 2009 23:50:35 +0000

It’s been interesting lately. For some reason pundits have decided that the one measure of the job someone is doing happens to be the Dow. Which is kind of silly. Even as a measure of the economy, I’m not sure how much credence we should lend the Dow. After all, it is a reflection about how Wall Street feels. And, quite frankly, I’m wondering if Wall Street is a little upset that instead of focusing mainly on big firms, Obama seems determined to do something for the middle class as well. Sure, he’s still throwing money at the banks. But in smaller amounts, and he’s tossing a few bones to the rest of us as well.

Another thing the stock market doesn’t like right now: The acknowledgment that things aren’t going to magically get better immediately. Obama has been saying this for quite some time. Perhaps the reason his approval rating is relatively high amongst the rest of us (60%) is due to the fact that the man is actually telling it like it is. There is no quick fix to our economic problems. But Wall Street doesn’t want to hear that. Wall Street wants to hear that government coffers will continue to be open the big guys, and that loads of taxpayer money will be at their disposal to try to turn things around quickly.

Helping forestall foreclosure and putting money into infrastructure and into education will help things in the long term. Sadly, Wall Street is all about the short term. Wall Street doesn’t care about the long term. Obama at least seems to be trying (whether you think he’s right or not) to do what he thinks is best for the long term. So maybe it’s not the end of the world that Wall Street doesn’t approve.

I think Jon Stewart is spot on.

What do you think? Should Obama be judged by the performance of the Dow?

Post from: EveryJoe

Does Obama’s Success Depend on the Dow?