Wells Fargo Bank, the nation’s largest home lender, recorded a 22% profit in the year’s first quarter. J.P. Morgan Chase made a 33% profit. How much did you make?
I’m glad they’re rebounding. Remember, they’re doing it by investing your money, so expect more from them. But, you won’t get it. They’ll carefully guard their profit margin. And don’t be surprised if six months from now they raise interest rates on credit cards, and fees on accounts.
The fact is, the economy is growing, and growing at a slightly faster rate than expected. You don’t hear the President or John Boehner continually talking about jobs and how badly or nation’s financial situation is. All you hear about is “cuts”, “cuts”, and more “cuts”.
The GDP is up an unexpected 3%. Jobless claims are down, driving the Stock Market, NASDAQ, and the S&P up, based on optimism due to jobs and the housing market. Hence, it’s fair to say, Wall Street has done more than simply comeback, it’s running away.
The price of gold is down, another sign that the economy is moving in the right direction.
So why isn’t our government getting behind this positive outlook? Why aren’t the President, Congress, and Senate creating programs to further grow our economy instead of trying to destroy gains made by the working class over decades? Well I have to be brutally honest. Both, Republicans and Democrats are in bed with the money barons. To put it another way, American Politicians work for Wall Street, and U.S. banks, and not for the citizens that elect them.
It’s my least favorite word, politics. We don’t have legislators, we have politicians.
Definitions of a “legislator”:
n. One that creates or enacts laws, especially a member of a legislative body.
n. A lawgiver; an individual who gives or makes laws; also, a member of a legislature or parliament, or other lawmaking body.
n. Someone who creates or enacts laws, especially a member of a legislative body.
n. A lawgiver; one who makes laws for a state or community; a member of a legislative body
Definition of a “politician”:
n. One who is actively involved in politics, especially party politics.
n. One who holds or seeks a political office.
n. One who occupies himself with polities; one who devotes himself to public affairs or to the promotion of the interests of a political party; one who is practically interested in politics; in a bad sense, one who concerns himself with public affairs not from patriotism or public spirit, but for his own profit or that of his friends, or of a clique or party.
So who knows what’s wrong with Washington?
Finally, what is wrong with the wealthiest Americans paying their fair share of taxes? They should be grateful they have the income to place them in a higher tax bracket. Loopholes need to be closed. Tax rates are already too low for corporations and the wealthy. Republicans like to call them the “job creators” which entirely false in reality. For the most part they are not creating any new jobs. They are taking their record profits and investing them, not spending them in ways to make their businesses grow.
Columnist-The Guardian Express