Is Your Life Insured?

“Fight Against Stupidity And Bureaucracy”

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It’s an interesting question.

But worry not, I am not going to try to sell you an insurance policy nor even recommend one.

Quite the reverse in fact.

Many people have some kind of life insurance for the financial protection of their families if they should be unfortunate to pass away unexpectedly.

It is usually for enough money to pay off the mortgage with a little left over to provide some kind of income for the wife and kids.

At least that’s how it should be.

But there is a growing trend for employers to insure their employees. A nice gesture you might think at first. Until you find out that the beneficiary of the insurance would not be the survivors or estate of the insured employee, but the corporate pension plan!

It is unofficially known as “dead peasant” insurance, and hundreds of corporations have already taken out policies worth hundreds of billions of dollars, on thousands of employees, providing companies with a steady stream of income as current and former employees die  –  even decades after they have retired or left the company.

And new “dead peasant”policies worth at least $1 billion are being put in place every year!

Unsurprisingly the greedy money-grabbing banksters are especially fond of the practice. Bank of America’s policies have a cash surrender value of at least $17.6 billion; Wells Fargo’s at least $12.7 billion; and JPMorgan Chase at least $5 billion, according to filings with the Federal Financial Institutions Examination Council.

Of course the tax-men are to blame too – aren’t they always? – because so-called company-owned life insurance offers employers generous tax breaks. For example, company-paid premiums are tax-free, as are any investment returns on the policies and the death benefits eventually received. Although having said that it has to be admitted (grudgingly) that the I.R.S. has taken companies including Winn-Dixie and Camelot Music to court for using such policies as tax avoidance schemes.

Many people faced with a request from an employer to consent to such a policy are too afraid not to comply in case it affects their job or promotion prospects. They shouldn’t be because that would probably be illegal as well as unethical. Class-action lawsuits against several companies with such policies are already underway or have been settled. Several companies, including Walmart, settled the suits, paying millions to low-ranking employees who had been covered.

So if you are uncomfortable with the thought that your company might profit from your death, don’t sign up.

And as for the corporations? I’m as fond of making a few bucks as the next man, but you have to draw a line somewhere and I think corporations should be content with the contribution their employees make to their company profits when they are alive, instead of conniving to profit from their deaths also.

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Term Talk

“Fight Against Stupidity And Bureaucracy”

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The Sunday Sermon

Don’t worry the title of this post doesn’t mean that you’re back at school again. This ‘term talk’ in the title refers to politics and politicians.

President Obama takes a lot of stick because of his headstrong insistence in implementing his Obamacare legislation. As I’ve said before, it’s a laudable goal, but the country can’t afford it. But on he goes anyway.

Love him or hate him, or neither, he’s limited to two terms of four years in office, then he has to go and make way for the next person who wants the job.

To begin with that’s a stupid system because the main thrust of the first Presidency about half way or so in office isn’t governing the country but instead trying to ensure election for a second term and wasting billions of dollars doing it.

It doesn’t take a genius to work out that the present system sucks. Nor do you have to be a professor of politics to suggest an alternative  –  for example a single term of five or six years, which still leaves plenty of time to settle into the job and implement whatever policies you have promised the electorate.

So that’s the first problem solved.

However, there is another term problem that infests American politics (and many other countries too).

What about the rest of the elected politicians?

Well, why not introduce the same system for them? Elected for a five or six year term after which they have to start to earn a living again?

Sounds good to me.

According to Wikipedia John Dingell has managed 58 years in the House and still going. John Conyers has been there for 49 years. Coincidentally both these politicians are Democrats and both represent Michigan, so another problem that these ‘lifers’ cause is that there is no incentive for new blood to enter politics when they have little or no chance of being selected for election.

Congressman John Dingell

I’m not picking on these guys in particular. They just happen to be the two longest serving examples. There were others of similar longevity but they had the good grace to eventually retire, or die after half a century or so. Amazingly more than one hundred members of Congress have been allowed to serve for at least 36 years.

When I say “serve” I am just using the normal expression for these jobs. Whether they realize it or not, career politicians are nothing more than parasites living a cozy life off the money provided by the rest of us through our taxes. When an elected representative is entrenched in his or her position for a very long period of time they are not serving their people, they are simply relying on their people to provide them with a good living, premier health care and generous pension benefits (assuming they retire eventually!).

“Ah,” I hear someone say. “But what about the ‘experience’ that these long serving members bring?”

“Oh,” I reply. “What about it? Have we not seen in recent years and months that whatever experience they bring is not worth a hell of a lot. Just look at the mess the country is in and tell me if fresh faces could do any worse.”

So the solution to the two worst political problems that face America are easily solved.

The next question is will they be solved?

And the answer to that is probably ‘NO’. And it is probably ‘NO’ because the people who have the power to change the law are the very people that that law would affect.

They say turkeys wouldn’t vote for Thanksgiving or Christmas.

Asses and elephants probably wouldn’t vote for this idea either.

What a pity.

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What Happened To This Thing Called ‘Democracy’ Anyhow?

“Fight Against Stupidity And Bureaucracy”

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The Sunday Sermon

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Some people have asked me why, when I am so scathing about politicians, I still have an interest in politics.

It is a good question because one thing is for sure, I do have little or no time for the politicians who in general I consider to be stupid, self-serving, untruthful, devious party-before-country hacks seldom, if ever, working for the best interests of the people they are suppose to represent. The exceptions to that statement are VERY rare!

But that’s my assessment of the politicians.

Politics as a subject is important because it sets the rules and standards that we all have to live by.

One of those standards that we have chosen to live by is the principle of ‘democracy’.

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I used to think that I knew what that meant.

I used to think that in a ‘democracy’ the adult population got a chance to vote for candidates and policies that, based on the arguments and evidence provided, they thought were most in line with their own thinking and therefore best for the country as a whole.

I used to think that when a candidate said something during an election campaign he or she would stick by those pledges once elected.

I even used to think that ‘democracy’ meant that the country would be governed by the policies that the majority of people voted for.

I don’t think like that any more. Indeed I haven’t thought that way for some considerable time.

And I don’t think that way any more because the ‘democracy’ that we once knew has long since disappeared.

Nowadays ‘democracy’ is no longer a matter of principle, but rather a matter of political expediency. Nowadays ‘democracy’ means pandering to the vested interests of those who can donate millions to the obscene amounts spent on political campaigns. Nowadays politicians will say whatever they have to say to get elected and forget every promise they have made the minute the polls close.

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President Obama was elected by a ‘democratic’ vote.

President Obama is a member of the ‘Democratic’ Party.  

Yet President Obama is and will continue to try to ride roughshod over that ‘democracy’ by starting another war, or wars, that the vast majority of the American people do not want and did not vote for.

Wars that will eventually cost the lives of yet more young brave Americans in a foreign land – no matter how Obama and his minions like failed Presidential candidate Kerry try to spin it (i.e. lie about it).

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It may even cost the lives of those within America itself should these foolhardy misadventures spawn retaliatory terrorist attacks on the homeland.

Sadly, people have short memories.

Politicians rely on that.

None more so at the moment than President Obama and his sidekick Joe Biden.

Hardly anyone remembers that during the presidential election last year Biden attacked Mitt Romney for being “ready to go to war” in Syria. (York, Pennsylvania, Sept. 2, 2012)

In the previous campaign Biden also said that the nation could only be taken to military action with the approval of Congress, except where it was necessary to stop an “imminent attack” on the United States itself.

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He was supported in this ‘principle’ by the then ‘Senator’ Obama, who said that the President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation.

“The Constitution is clear”, Biden declared. “And so am I.”

I wonder where all that ‘clarity’ has gone today?

Maybe it’s in a White House cupboard somewhere, on a shelf along with ‘democracy’.

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No Mo Town?

“Fight Against Stupidity And Bureaucracy”

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Here comes the Sunday Sermon folks!

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Before his first election victory the platform was one of “change” and “yes we can”, not very specific policies but the implication was that everything would get better under his administration, and people went for it.

Guess what?

“No he couldn’t” and “nothing changed”, not for the better anyhow.

Then last year during the re-election campaign he said, “We refuse to let Detroit go bankrupt”, and people went for it again.

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Guess what?

Detroit is bankrupt! Yes, last Thursday, Detroit became the largest U.S. city to declare bankruptcy, filing for Chapter 9 protection.

Are you seeing a trend here?

You should.

But it’s not all Obama’s fault. By no means. He’s just the latest in a long line of clueless politicians who made big promises and had no idea how to pay for them.

So how did it get this bad?

How did the city of Detroit that was once the powerhouse of America, and from whose industry came wealth creation that stimulated the entire economy, get to the stage of being bankrupt?

Sadly, what has happened to Detroit is the culmination of decades of political incompetence and graft and corruption.

For example, the most recent mayor, Kwame Kilpatrick, is currently facing charges of racketeering conspiracy, extortion, bribery, mail and wire fraud, filing false tax returns and income tax evasion, Quite a guy!

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It is also the culmination of years of union’s self-serving greed that meant, for example, that every car Detroit manufactured had to be sold at a loss – if it were to sell any at all.

But the problem goes even deeper than that.

Detroit is just the latest example of political and economic stupidity that has been allowed to fester within many western nations. It is not just an American malaise. The very same thing has happened in other countries, like Britain.

And it has happened because American and British politicians got the idea that their countries were a bit better than everyone else’s.

That they could leave the blue collar stuff like steel-making, ship building, car assembly and everything else that created true wealth for a nation, to be done by other ‘inferior’ places such as Japan, Korea, Taiwan and more lately China.

They actively helped to destroy their own manufacturing base through lack of investment, over taxation, needless government interference and over-regulation, etc.

Worse than this, they thought they could replace real industries making real money, with ‘service’ industries.

They never figured out that the former is the foundation that means you can afford the luxury of the latter!

And guess what? They still haven’t!

So instead of making real money, greedy banksters were allowed to conjure imaginary money out of nowhere. Then they were allowed (and encouraged) to invest money that didn’t exist in products that weren’t real either! And of course they lost the money. 

And the governments were willing accomplices to this fraud. When they could’t balance their books they simply printed more money and used this imaginary wealth in their economic statistics reports to show everyone how well they were doing.

Detroit is just the latest and biggest example of what the policy of living well beyond your means….. means!

So is this the end for this once great city?

Absolutely not. In fact it might be the making of it. There are going to be tough times ahead, but getting rid of a crippling $20 billion debt, which their bankruptcy will do, at the very least makes a recovery a possibility.

The halcyon days may be gone and never to return because of the damage the politicians have done. But there will be better days ahead.

When you reach the bottom you may bounce around there for a while but eventually the only way is back up.

If the politicians let you, that is.

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Have You Heard Of The Herd?

“Fight Against Stupidity And Bureaucracy”

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Today was originally scheduled for the latest part in the short series about the curious and amusing phobias some people seem to have. But it’s a holiday week for most of us and I have put that post back until next week.

Instead I feel the urge to say something else. Two things actually.

First one is, have you heard of the herd? In particular the herd mentality, where people do something they have no need to do just because other people are doing it?

It happens a lot. Far too much in fact.

We witnessed it during the recent election campaign where people formed opinions not on the basis of their own analysis of the candidates and policies, but because of something someone else said or something they heard on tv.

We saw it again very recently after the dreadful murders in Connecticut where the unthinking herd ignored the real problem and  jumped on gun control as a solution to senseless attacks such as this. They might as well call for a ban on knives, axes, chainsaws, bows and arrows and gasoline when they are at it as any of these could do the same job in the hands of a mental defective.

And on December 24 we witnessed another example in grocery stores throughout the country (throughout the world even) as hoards of the unthinking joined the herd and bought up bread and food supplies like the shops would not be open again for at least a month. They are open again today you dummies!

These three examples have been going on for years and people never seem to learn, they just keep on following the herd without a thought in their heads.

And this leads me on to point two which is how little thought most of us give to what we are doing and what we are buying the already well off and pampered.

I know for a fact that Santa had orders for laptops and ipads and iphones and all sorts of other expensive playthings. And I also know that he hadn’t the sense to say no, but just bought them anyway. Mea culpa as much as anyone.

Then I got to thinking that life was a lot different when I was a kid. Yes we liked to get presents at Christmas, but they were a lot less sophisticated and a lot less expensive – even in relative terms. When I was eight, for example, I didn’t need a smart phone, or any phone come to think of it, nor was my social life so complicated and hectic that I had to have a chauffeur for all my must-do activities for every day of the week.

When I was a kid we had our toys, but we also had a thing called an imagination and we could make our own fun out of very little.

So what is the problem today? Why are kids so incapable of making their own entertainment? Why are they constantly “bored” without clicking a button on a computer consol or without someone else to do their thinking for them?

Like a lot of other things, it all boils down to money at the end of the day. Now I’m not advocating poverty as a solution to the world’s ills. Far from it. I like to make money, the more the better, and the thought of being, perhaps not rich, but comfortably well off is a very nice one. But if we had to we could all make do with a lot less. And I don’t think we would be any less happier in the process.

People in other countries seem to manage quite well. And they still seem to have the mental capacity to enjoy what little they have and make their fun out of next to nothing. In other words they are happy. If things do ever deteriorate to the extent that some of the doomsday preachers are telling us, there are a lot better prepared people in the world than there are in rich countries like America, or Britain, or Germany, etc.

Think about giving your kid or nephew or niece an old oil drum from the local garbage dump next Christmas instead of an ipod touch or some other overly expensive apple. I wonder how much music and entertainment they could get out of that?

Check out the video and you will see what I mean…

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