Sunday, June 24, 2012

"A Small Elite With Vast Wealth Is Good For The Poor And Middle Class?"


"Having a small elite with vast wealth is good for the poor and middle class," says Romney former partner, protege, current pal, and secret donor, Edward Conard. (http://www.nationalconfidential.com/20110806/ed-conrad-secret-romney-donor-was-ally-at-job-killing-bain-capital/)

Yup, every day that goes by another Conservative says that the Wealthy One Percent should rule the rest of us. In a recent New York Times article, Adam Davidson interviewed Conservative magnate Edward Conard, author of the upcoming book, Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong," a treatise showing us why the the wealthy are entitled to even more of the economic and political pie that their Republican lackeys in Congress and the White House have given them through tax giveaways, loopholes, and deregulation.

http://www.nytimes.com/2012/05/06/magazine/romneys-former-bain-partner-makes-a-case-for-inequality.html?_r=1&pagewanted=all

"As for exotic derivatives, Conard doesn’t see a problem. He argues that collateralized-debt obligations, credit-default swaps, mortgage-backed securities and other (now deemed toxic) financial products were fundamentally sound. They were new tools that served a market need for the world’s most sophisticated investors, who bought them in droves. And they didn’t cause the panic anyway, he says; the withdrawals did.

"Unintended Consequences" only mentions Romney by name once (and in the acknowledgments, at that), but Conard hopes that the arguments detailed in his book will help readers understand why it’s so crucial that his former boss — who believes the government should help the investor class — win this November

"A central problem with the U.S. economy, he told me, is finding a way to get more people to look for solutions despite these terrible odds of success. Conard’s solution is simple. Society benefits if the successful risk takers get a lot of money. For proof, he looks to the market. At a nearby table we saw three young people with plaid shirts and floppy hair. For all we know, they may have been plotting the next generation’s Twitter, but Conard felt sure they were merely lounging on the sidelines. "What are they doing, sitting here, having a coffee at 2:30?" he asked. "I’m sure those guys are college-educated." Conard, who occasionally flashed a mean streak during our talks, started calling the group "art-history majors," his derisive term for pretty much anyone who was lucky enough to be born with the talent and opportunity to join the risk-taking, innovation-hunting mechanism but who chose instead a less competitive life. In Conard’s mind, this includes, surprisingly, people like lawyers, who opt for stable professions that don’t maximize their wealth-creating potential. He said the only way to persuade these "art-history majors" to join the fiercely competitive economic mechanism is to tempt them with extraordinary payoffs.

"The wealth concentrated at the top should be twice as large, he said. That way, the art-history majors would feel compelled to try to join them.

"During one conversation, he expressed anger over the praise that Warren Buffett has received for pledging billions of his fortune to charity.

"There’s also the fact that Conard applies a relentless, mathematical logic to nearly everything, even finding a good spouse. He advocates, in utter seriousness, using demographic data to calculate the number of potential mates in your geographic area. Then, he says, you should set aside a bit of time for "calibration" — dating as many people as you can so that you have a sense of what the marriage marketplace is like. Then you enter the selection phase, this time with the goal of picking a permanent mate. The first woman you date who is a better match than the best woman you met during the calibration phase is, therefore, the person you should marry. By statistical probability, she is as good a match as you’re going to get. (Conard used this system himself.)

"Conard and Romney certainly share views on numerous policy matters. Like many Republicans, they promote lower taxes and less regulation for those who achieve financial success. Romney has also said that rising inequality is not a problem and that the attention paid to the issue is "about envy. I think it’s about class warfare."

"After we spoke for one of the last times, he sent me an e-mail summing up his argument: At base, having a small elite with vast wealth is good for the poor and middle class. "From my perspective," he wrote, 'it’s not a close call.'"

Does His Majesty's Palace Have Enough Elevators For His Coaches?


Conservatives haven't been this outspoken for ages and Mr. Conard is telling us what to expect from a Romney presidency.

Hiding under their phony concerns over "States Rights," "Family Values," "balanced budgets," "small government," "personal responsibility," and all the rest, the real aim of Conservatism has now been laid before us.  Criminalize Conservatism before it's too late!


You ignore reading the stories at The Brad Blog at http://bradblog.com/ at your peril; for the most comprehensive information covering voter suppression, intimidation, and voting machine fixing over the last decade, The Brad Blog has reported on it all .


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"Wise men speak because they have something to say;  Fools because they have to say
something."

Plato (Classical Greek philosopher, mathematician.  Along with his mentor, Socrates, and
his student Aristotle, he helped lay the foundations of Western philosophy and science.  428
BCE - 348 BCE)
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