The old USSR (Union of Soviet Socialist Republics), now a much-downsized one-country “Russia”, called themselves socialist. But they were nothing of the sort. The USSR was communist to the core that included the word ‘socialist’ in an attempt to disguise their true agenda. As a result, “socialism” became a dirty word in democratic-elected countries around the world.
Today we have a self-describe Democratic Socialist running for President of the United States – Bernie Sanders. His problem is that very few know what Democratic socialism really is. In short, it is “a democratic state that incorporates both capitalist and socialist practices”. And what Sanders is offering Americas’ commoners is a choice: Democratic socialism or corporate socialism; the latter being exactly what we have today.
In the beginning Sanders was completely written off by the main stream media and other candidates on both sides of the isle simply because of the word “socialist”. They were convinced a “socialist” would never be taken serious by the public. However, he’s running neck and neck with the “(once) presumed Democratic nominee”, Hillary Clinton. The reason? Bernie Sanders’ “socialism” is NOT communism or communist socialism as the political right would have you believe, and tens of millions of voting commoners know that.
Democratic Socialism is a far, far cry from Communist Socialism. In fact, Sanders has openly championed just the opposite, which is a capitalistic free market economy, going all the way back to 1991 when he first came to Washington as a Representative. Sanders’ position is that he does not support a rigged capitalistic economy (corporate socialism), which he points out in most of his campaign speeches. And there’s more-than-enough glaring evidence that our economy is indeed rigged in favor of an extremely small and powerful minority which has resulted in a steady and exponential upward transfer of wealth, especially over the past 30 years.
Sanders has over-the-top details on where he stands on most all issues, and how he plans to implement and pay for his policies. On the other hand, Clinton’s path-forward is to simply tweak her past policies, some of which will still support corporate socialism. But even so, a Clinton White House – as far as American commoners are concerned – would be head & shoulders above what the Republican Presidential candidates’ want which is to supercharge the status quo.
“Our goal should be a society in which all people have a decent standard of living”: A frequent statement by Bernie Sanders. [bold, underline emphases mine]
Sanders has no intention of taking the wealthy’s fortune and sharing it among commoners. What he is saying, among other things, is that multi-billionaires such as Walmart’s Walton family shouldn’t be allowed to escalate their fortune ($149 billion as of 2015) by paying slave-labor wages (average $15,600 annually) and providing rigged benefits.
Who the hell could argue with that; except, of course, the wealthy and their paid lapdogs.
Mark Yusko, founder and CEO of Morgan Creek Capital Management, predicted nearly a year ago that crude oil would fall to $30 per barrel. At the time WTI oil was ranging around $50 but jumped back up to the $60’s before beginning a steady decline to Yusko’s predicted price. Last Tuesday CNBC reported “Guy who saw $30 oil has more bad news”. Although that particular prediction came true, this subtle report by CNBC speaks volumes about their lack of news-worthiness.
Yusko was only one of dozens who made predictions about last years’ future oil prices and CNBC touted every single one of those predictors as “experts”. Therefore, they had a wide range of experts to pick from – depending on which one got it right – to parade across their stage, thereby implying ‘you first heard it here’ in an attempt to promote their own “expertise”.
Here are just three of the many other predictions heard on CNBC about oil prices for 2015 – that got it wrong!
- Oil could hit $65 by year end
- Pickens: $70 oil by year’s end
- Brent oil at $90 to $100 next year: Pickens
As for those oil experts, on any given day when oil is a major news topic different guest will predict prices ranging from as much as fifty percent below to maybe one hundred percent above current prices. At the same time they’re certain to predict what oil producing countries will do and not do that will affect oil prices. More often than not, they’re all proven wrong.
If you are a frequent viewer of CNBC you already know that oil-price predictors are not the only “experts” they run across their stage, always giving every single one of them credence. These experts range from market index experts to individual stock experts to market industry experts and beyond. And not once do you hear CNBC point out the obvious conflicted interest each one usually has. In fact, one might term them as ‘expert salesmen’ for their own vested interest or product.
For example, when a fund manager, big or small, is called upon for their expert advice about where one should be investing, you will never hear that manager say anything that might jeopardize his own investment product. If you “listen” between the lines, you will hear that he is actually promoting what he sales. That should come as no surprise given his job; that’s what he gets paid to do — how he makes his multi-millions.
Then today AutoNation Chairman and CEO Mike Jackson declared that cheap gas is here to stay. If you know who AutoNation is then you’ll know they are the largest automotive retailer in the entire country who sales almost every brand of vehicle there is and obviously has a lot of gas guzzlers sitting on their lots.
The real problem here is that CNBC seems perfectly content to provide a platform for the snake-oil salesmen to market their wares via false predictions.
If you’re a CNBC fan who may be listening for investment purposes, you should keep in mind that commercial where the first actor asks the second “Do you get your commission back if your broker loses your money?” [Paraphrased] The second actors’ answer is “It doesn’t work that way.” In other words, ‘hell no’! The broker gets his regardless of whether you make or lose money.
And, for your entertainment, here’s a prediction for this year.
Hess CEO: $60 oil by late 2016 – Oil company peddling his oil to speculators.