John Thain - Nihilist in Chief - goes Bye Bye

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Merriam-Webster on-line definition for Nihilism:

“a:a viewpoint that traditional values and beliefs are unfounded and that existence is senseless and useless b: a doctrine that denies any objective ground of truth and especially of moral truths…”

Maybe I am just mortal or I live in a scale of things that does not match reality on the lofty heights of Olympus where large corporate CEOs play with virtual reality spreadsheets instead of inspecting authentic reality factory assembly lines.

The abstract world of numbers and corporate spreadsheets has eliminated the human factor out of all corporate equations for decades.

When I read about outgoing Merrill Lynch chief or is it thief awarding 3-5 billion dollars in bonuses to corporate sycophantic louts before he dumped the Merrill Lynch toxic waste portfolio onto Bank of America I am not shocked especially when U.S. taxpayer money is being used to prop up this drunken nihilistic behavior. This drunken frat house nihilistic behavior has been going on for decades in corporate America. Congress will not change anything. Get real.

A microcosm of Thain’s ego and acceptable lack of morals in the business world is his million dollar office makeover in the past year while the company is losing money, hemmoraging it in fact. Nero fiddled while Roma burned. Thain and others redecorated. No doubt this was to improve one’s mood and to enhance positive attitude toward a future pickup in profits.

In his little cocooned privileged world of American business he managed to spend $87,000 dollars on an area rug for his office. This sounds outrageous but here is the good point. Bank of America can take a two year rapid depreciation on a nineteenth century antique Persian rug. That saves money. And in Thain’s contract he probably has exclusive bidding rights on obsolete property in his office. When he bids $10.00 and drags away the obsolete rug, he is being green. The Persian rug will not be dumped into a landfill.

Oh they say that American business can’t hack it in these tough days ahead. Just look to Mr. Thain for examples of courage and nihilism and antique corporate rugs rapidly depreciated from the federal government’s virtual reality spreadsheets.

Good riddins to obsolete corporate trash!

American Industrial Redevelopment Bank Needed

Like some third world countries asking for basic loans to build basic infrastructure, it is time to rebuild the decimated industrial base of the American Economy.

I am not talking about municipal bonds to build schools and roads but while we are on the subject, that sounds like a good idea.

Our money system is mixed where the Fed ignores housing inflation and the underground cash economy. The Fed is myopic and only sees Wall Street as the alpha omega of any and all possible investment.

We used to have factories my fine white collared suits currently standing waist high in the debris of the current economic meltdown.

Lets get some new ideas, common sense ideas. Lets start categorizing money according to usage and national need.

Let us start to issue bonds or notes to develop industrial parks building only GREEN. Or refit obsolete automobile assembly lines to do so. It is time to archive an obsolete one size fits all banks Hamiltonian, general nineteenth century Wall Street only money need basis.

Let Americans buy Industrial Redevelopment Notes and make them tax free on interest until America regains its place in the world or at least has a safe at home industrial base to protect in its defense against foreign domination in the industrial sector. Let only industrial lending be done with this bond generated money.

Let the treasury only notes, cash/cash general purpose junk notes, continue to be issued and tax the hell out of money that does not build but only parasites and ponzis money off other money.

Our brilliant nineteenth century economists need new ideas and new formulas that put people, American people, back into all levels of economic equations and dequations.