extraneous added news groups removed from distro

On Sat, 21 Dec 2013 11:45:09 -0800, Rudy Canoza
wrote:

On 12/21/2013 11:29 AM, F. George McDumpster blabbered:
not metal/machining related

On Fri, 20 Dec 2013 14:30:29 -0800 (PST), "Daring Dufas: A
hypocrite TeaBillie on welfare!"
wrote:

http://www.csmonitor.com/Business/20...-a-better-2014

=====================

Wall Street is not Main Street, and

Main street also is doing better, and Wall Street does well in
anticipation of Main Street doing well later on.

Not for you Jon, but the rational people in the NG
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Up until the mid 70s you were/are more correct than
incorrect. The syllogism "When American companies do well,
America does well, and when America does well, Americans do
well" was on the whole accurate.

That was then and this is now.

(1) Because of the changes in, and ignoring of, FASB
accounting principles, and the failure to update corporate
accounting standards, e.g. the deliberate blocking of
expensing of stock options, and not forcing of SPIVs
[special purpose investment vehicles] back onto the
corporate ledgers (e.g. Enron), it is impossible to tell if
the American companies are doing well or were taking another
big hit off the financial bong before they file their 10ks
and write their annual reports. (Check the number of
financial restatements by Fortune 1000 companies by year.)

(2) De Facto if not De Jure, there are fewer and fewer
American companies, although the supranational corporations
may still be legally domiciled in the U.S. Increasingly,
nominally American companies are operationally only an
importing/marketing activity for goods/services produced
outside the country, the "profits" are never remitted (e.g.
transfer pricing), and no jobs/economic activity are
domestically created.

(3) Increasingly, improved corporate earning (see item 1
above) are not the result of real value added activity,
which increases the aggregate supply of goods and services,
but rather the result of "new and improved" financial
engineering/tax evasion/rent seeking/debt abrogation [e.g.
defined benefit pension plans] and are ersatz contributions
to the GDP, equivalent to counterfeit currency and clipped
coins.

Asset bubbles, an economy breaks, not makes...