Linked by Thom Holwerda on Thu 29th Aug 2013 14:14 UTC
In the News

Victoria Espinel, who until recently served as the White House's first intellectual property enforcement coordinator, will now head one of the most powerful trade groups in the tech industry. She's been tapped to become the new president and CEO of The Software Alliance (or BSA) starting September 3rd. In her new role, she'll be tasked with pushing the anti-piracy interests of major players like Microsoft, Dell, Apple, Oracle, and Intel. And while the BSA spends a large part of its time lobbying Congress and other governments to push that agenda, Espinel will be barred from engaging in such practices herself - at least initially. According to Politico, an ethics pledge Espinel took to secure her "copyright czar" position under President Obama prevents her from lobbying for at least two years.

No corruption here. Nothing to see. Move along.

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RE: Money
by Alfman on Fri 30th Aug 2013 16:21 UTC in reply to "Money"
Alfman
Member since:
2011-01-28

MOS6510,

"We, the people, are guilty too. People won't accept taking a step back in their luxuries and way of living."

I don't necessarily disagree with your post. However if we're talking about the middle class, then I do think the economic situation is actually causing people to step back from their luxuries and way of living in real terms, if not by choice, then by force.


On the other hand, modern generations don't "feel" the pinch as much as they should because now we're financing our stuff via various kinds of debt. Consider:
http://research.stlouisfed.org/fred2/series/TOTALCB?cid=101
http://research.stlouisfed.org/fred2/series/TOTALGOV?cid=101
http://research.stlouisfed.org/fred2/series/REVOLSL?cid=101
http://research.stlouisfed.org/fred2/series/NONREVSL?cid=101

The interest on this debt is ultimately transferred out of the lower and middle classes to the upper classes. Of course this is putting off a major financial crisis as more of the indebted generations start to retire without any net personal wealth at all. The officially predicted social security budget shortfalls are looming, which will leave many 100% broke. It's not going to be pretty.


IMHO profit driven creditors are an economic evil. Even those of us who try to be financially responsible have to face inflated prices caused by others paying with credit.

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