Having recently posted a new song called This Crazy World, four things struck me in the news today.
First, as part of an article pointing out that stocks are at a 3-year high, I read that shares in Delta Airlines rose 11%. Why? Because the airline LOST less money than it was expected to! Think about this for a moment. This is how top executives get performance bonuses even as their companies crash and burn. Many executives' pay is tied to stock performance. So when the stock goes up because you lost less money than people expected you to lose that performance is bonus worthy! But you still LOST money and probably had to fire a few employees to try to make up for that loss. A very simple law should be passed that states that nobody's salary can be tied to stock performance but only to increased revenue. Not even to profit as that can be manipulated by lowering costs by firing people. The only true proof of business growth is revenue growth. It can then be left to the company to decide what percentage of that revenue their costs are allowed to eat up. This system just might get executives focused on the right thing and start them hiring again.
Second, President Obama put out a blisteringly brilliant and true statement about the fuss over where he was born and released his full length birth certificate from Hawaii. So what does the asshole Donald Trump - the latest in a long line of brain-dead 'birthers' - have to say about it? He claims credit for making the President release the certificate. Moron!
Third, and this relates in many ways to my first point, there were several mentions of the need to "create jobs". Every statement or action on the part of both political parties right now seems to be evaluated on whether or not it will create jobs. Now, we all know jobs are needed. But will somebody please alert this country to the fact that jobs, generally, cannot be created. The only ones that can are jobs in government or, mainly, construction jobs created by government spending. And since the Republicans are now religiously anti-government spending and are cutting government jobs in the states they control, they clearly don't give a damn about the only job-creating powers they possess. Looking at overall jobs in our economy the only thing that works is to create DEMAND. This in turn is what creates jobs. People demand (buy) more, more needs to be made, therefore more people are needed to make whatever product or service we care to mention. So, with that in mind, jobs are created by disposable income. The more people spend, the more jobs we create. And since it's been proven time and time again that giving tax cuts to the rich means they save the difference rather than spend it - or invest it in one of those companies paying their executives even when they lose money (and therefore do not create jobs) - the entire current Republican platform is a house of cards with no foundation. But the whole political circus keeps on talking about the need to create jobs - while doing nothing to increase demand.
Finally a "celebrity" chef from New York has filed for bankruptcy after being sued by his ex-kitchen staff for, among other disturbingly egotistical behavior, charging them for staff meals they were never given. Talk about not feeding the hands that bite you!
It's a crazy world indeed.