If you’ve read your morning paper, then you’ve seen the story about the billionaire who put in a $2 billion bid to buy the LA Clippers from the Sterling Trust. Doesn’t something about it feel vaguely obscene? Like the story shouldn’t be about the sale of the team, but rather that one man, given our current national condition, can or would cut a check for two billion dollars to buy a basketball team? Particularly when the team’s actual value is believed to be far below $2 billion?
Basketball. A game. A form of entertainment which, if it went away tomorrow, would have little or no impact on our well being. We could all get along without it. However, at the same time-
According to the Dept. of Housing and Urban Development, there are 633,782 homeless people in America. According to Amnesty International, the U.S. has five times as many vacant homes as we have homeless people.
Experts believe the nation’s real unemployment rate is much higher than you might think. Much higher than the 6.7% that’s officially being reported. That when those who have given up on finding a job are factored in, the real unemployment rate is closer to 13%.
Economists tell us that Wall Street remains out of control, as it continues its high stakes risk taking, gaming the markets, that will likely lead the nation and then the world into another economic crash.
A new study points to species being killed off at an increasingly accelerated rate by our inability to control ourselves.
Climate Change is what it is. We continue to moving toward the necessary switch from carbon-based fuels to wind, solar and other alternative energy sources at a rate that is much, much too slow – provided you believe in science more than in fairy tales or the lies being told by greed driven corporate leaders who care more for “building shareholder value” than the survival of the human species.
Republicans in the House and Senate continue to demand austerity, completely disregarding the fact that a Republican administration took the nation into two wars while cutting taxes, and that a significant amount of history teaches that the best way to get out from under a major economic downturn is through job creation requiring more and not less federal spending. Clearly, anyone who looks at the facts will see that the demand for less regulation and greater austerity, the cutting the government has done to date, is not working. And the cutting has been extreme. According to the Congressional Budget Office, our federal tax rate is the lowest its been in 30 years.
And yet-
“More than 16 million children in the United States – 22% of all children – live in families with incomes below the federal poverty level – $23,550 a year for a family of four. Research shows that, on average, families need an income of about twice that level to cover basic expenses. Using this standard, 45% of children live in low-income families.’ -Nat’l Center For Children In Poverty
Income inequality, the gap between the rich and the poor, is at a level not seen since the Great Depression.
While employee compensation is at its lowest level in 65 years, corporate profits have hit their highest level since 1929, just prior to the Great Depression.
And here in Los Angeles, in a move reminiscent of “The Great Gatsby,” and with the zeal of a kid buying a new bike, one man has just put in a $2 billion bid to buy a basketball team. Not that there’s anything wrong with that. It’s his money and he can do whatever he wants with it. It’s the American way.