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David A. Schwinghammer

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· 232 titles
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Member Since: Dec, 2007

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Books
· Soldier's Gap


Short Stories
· Mengele's Double, Chapter 9

· Seminary Boy, a memoir

· Fisher of Men, Chapter Nine

· Soldier's Gap, Chapter Three

· Honest Thief, Tender Murderer, Chapter Nine

· Fisher of Men, Chapter 8

· Honest Thief, Tender Murderer, Chapter Eight

· Mengele's Double, Chapter Eight

· Bereavement Blues

· Fisher of Men, Chapter 7


Articles
· A Beautiful Mind, book review

· Another Planet, book review

· The Three Stooges, book review

· The God Particle

· Empire of Sin, book review

· Science at the Edge, book review

· Obama, a Modern Caesar?

· Americans Need to Pull Together

· Voices of the French Revolution, book review

· Great American Scandals


Poetry
· Fashion

· Widow's Peak

· Myth

· Alumni Game

· Stradivarius

· Snow-a-holic

· Girls Who Wear Glasses

· The Do Drop Inn

· Ode to Neve Campbell

· Jacks or Better 101

         More poetry...

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Books by
David A. Schwinghammer



Soldier's Gap

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Blogs by David A. Schwinghammer

Super Computer
10/19/2010 10:18:57 AM
Wall Street is gambling with our futures again.


Apparently the derivatives mess wasn’t enough. Wall Street is at it again, this time employing a super computer that makes bets rather than basing buys on the viability of the company. It works like this: If a stock has been down for ten days, the computer buys that stock, hoping for a quick upturn where it can make a few cents, then sell. It buys hundreds of these stocks at a time. If a stock has been gaining for ten days, it sells and buys it back when it‘s cheaper.

All of this is based on a mathematical algorithm, and so far the companies that use this computer have been making lots of money using it. Except for the time, the computer screwed up and caused a 600 point drop in the Dow.
People and pensions lost hundreds of thousands of dollars.

Another algorithm predicted that if you would chop up bad mortgages and mix them with fractions of good mortgages, they would serve as a hedge against a downtown in the market. They call those derivatives, and we all know what happened to those. It is also possible to place a bet against a stock you don’t own or to gamble in favor of one you don’t own. That’s called a bucket shop, or it used to be when it was illegal. President Clinton and Congress legalized them in 1998. It was illegal for a reason. If you bet heavily against a stock you can influence its price on the exchange. Commodities brokers affected the price of oil and wheat by betting heavily that these prices would keep on going up. And to hell with poor countries like Haiti, whose people couldn’t afford to buy bread.

This is why we need to regulate Wall Street. The government should kick them in the pants every time they pull one of these algorithm stunts, gambling with other people’s futures. You will note that campaign contributions are running seven to one in favor of Republican candidates. Obama managed to push through a financial reform package, trying to make sure another mortgage bubble doesn’t happen, but the GOP opposes any regulation at all. They are also willing to gamble with other people’s money.
What they’re doing is comparing 2010 with 1870 when capitalism was humming. Railroads were being built, Carnegie built US Steel, the meat packing companies were making millions on the backs of the poor (see Upton Sinclair’s THE JUNGLE), Rockefeller was forming Standard Oil.
What they choose to ignore are all the recessions and depressions that kept popping up when big business overextended itself.

The GOP maintains we need to give these people tax breaks so they will expand and hire more people. But there’s no assurance that they will. Business is jumping right now but the bankers and the corporations are sitting on the money, hoping that Republicans will gain control of Congress and they’ll be able to resume their reckless ways. Republicans say they will provide jobs by cutting taxes and big government, but what happens in the mean time? You’ll remember that they did this during the Iraq War. Bush cut taxes while at the same time borrowing money from the Chinese to finance his aggression. Cutting taxes adds to the deficit and there are not that many places to cut government as Obama found out when he tried to do it. You know for sure the GOP won’t cut defense spending which is at close to a trillion dollars a year. The GOP claims entitlement programs eat up most of the budget, but Social Security pays for itself or it would if the government kept its meat hooks off that money. The government currently owes Social Security two trillion dollars. When Obama tried to cut Medicare, the GOP was against it, despite the fact that they opposed Medicare in the first place.
And here’s the real rub. Medicare spends billions of dollars on terminal patients, billions on people in the last two months of their lives. Republicans called that “kicking Grandma under the bus.” But we do this all the time. People who drink aren’t eligible for liver transplants; people with certain diseases don’t qualify for heart transplants. The government needs to say no when a treatment won’t do any good. It would also help to pass some sort of tort reform so that doctors don’t have to pay huge insurance premiums. Republicans could have gotten tort reform if they’d negotiated at all with Obama. But they preferred to be the “Just say no” party.


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More Blogs by David A. Schwinghammer
• Our Bloodiest War - Tuesday, March 17, 2015
• Greedheads - Monday, September 29, 2014
• Worst President Since WWII? - Monday, July 07, 2014
• Tenure for Teachers - Thursday, June 26, 2014
• Koch Brothers Interfere in Local Election - Thursday, May 08, 2014
• The Wolly Mammoth - Wednesday, April 23, 2014
• Fran Tarkenton's political ad - Friday, March 14, 2014
• Propaganda vs. Legitimate Commentary - Sunday, February 23, 2014
• Porn as a Political Issue - Tuesday, February 18, 2014
• Drive a Stake Through the Vampires' Hearts! - Thursday, February 06, 2014
• State of the Union Stem-winder - Wednesday, January 29, 2014
• Ted Cruz - Tuesday, November 19, 2013
• Here We Go Again. - Thursday, September 19, 2013
• Reality TV - Friday, August 09, 2013
• Common Sense - Tuesday, July 30, 2013
• Skunks Believe Everybody Else Stinks - Thursday, May 16, 2013
• The Morning After Pill - Friday, April 12, 2013
• What Would Thomas Jefferson Say? - Saturday, April 06, 2013
• Boneheads - Tuesday, March 12, 2013
• Why Benedict XVI Resigned - Sunday, February 17, 2013
• Gabby Giffords Testifies - Wednesday, January 30, 2013
• Newspaper Caters to Gun Owners - Wednesday, January 23, 2013
• Piers Morgan Deserves a Medal - Monday, December 24, 2012
• The Red Devil and the Blue Devil? - Tuesday, October 30, 2012
• Is the new TV show, REVOLUTION, fantasy? - Wednesday, September 26, 2012
• Fanatical Moslems Aren't That Different From Our Fanatics - Wednesday, September 12, 2012
• We Need the United Nations - Wednesday, July 18, 2012
• Stop Catering to People's Basest Instincts - Monday, July 09, 2012
• Concerned Women for America political ad - Saturday, June 23, 2012
• Independent Voters Need to Pick a Side - Monday, June 11, 2012
• Romney's Solyndra Appearance - Friday, June 01, 2012
• Single Issue Voters - Sunday, May 20, 2012
• Bully or Sociopath? - Saturday, May 12, 2012
• Tan-orexic Woman Poor Role Model - Friday, May 04, 2012
• So Far Right They're Almost Left - Sunday, April 22, 2012
• Dog Eat Dog - Sunday, April 15, 2012
• The Tea Party is Back! - Sunday, March 25, 2012
• Gas Prices - Tuesday, March 13, 2012
• "Doofus" - Tuesday, March 06, 2012
• Bon Iver Front Man Makes Important Statement - Thursday, February 16, 2012
• Contraception Blowback - Friday, February 10, 2012
• 800 vetoes! - Saturday, February 04, 2012
• Issa Hounding Holder over GOP program - Thursday, February 02, 2012
• Rick Santelli's Rant - Wednesday, January 18, 2012
• Corporate Raider President? - Thursday, December 01, 2011
• Is This the Best They Can Do? - Thursday, November 17, 2011
• Tea Party a non-violent Movement? - Sunday, October 30, 2011
• Wall Street Protests - Wednesday, October 05, 2011
• Three new stooges - Thursday, August 25, 2011
• Hypocrite enters the race - Friday, August 19, 2011
• Business Leaders Need to Speak Out - Saturday, July 30, 2011
• Rupert Murdoch and GOP Credibility - Monday, July 25, 2011
• Playing on the railroad tracks - Sunday, July 17, 2011
• Scapegoating - Sunday, June 19, 2011
• The Biggest Swindle in US history - Friday, June 03, 2011
• We're Still Here! - Saturday, May 21, 2011
• Improve education by improving teacher morale - Wednesday, May 04, 2011
• Tea Partiers Don't Know What They're Talking About - Thursday, April 28, 2011
• General Electric paid no corporate taxes - Tuesday, April 05, 2011
• The Flat Earth Society is at it again! - Thursday, March 17, 2011
• Crap fest - Thursday, March 03, 2011
• Egyptian Revolution - Tuesday, February 08, 2011
• Tucson - Wednesday, January 12, 2011
• Would you want a right-winger for a neighbor? - Friday, January 07, 2011
• Noah's Ark Museum - Monday, December 06, 2010
• Frick and Frack Shoot Off Their Mouths - Friday, November 05, 2010
• Enthusiam Gap - Wednesday, October 27, 2010
•  Super Computer - Tuesday, October 19, 2010  
• US Chamber of Commerce, conservative front group. - Wednesday, October 13, 2010
• 13 Reasons to vote the straight democratic ticket - Wednesday, September 01, 2010
• Breitbart Makes Segretti look like a choirboy - Wednesday, July 28, 2010
• House on Fire? - Thursday, June 17, 2010
• The Blame Game - Friday, May 28, 2010
• National Prayer Day - Tuesday, May 18, 2010
• Conservative psyche (continued) - Friday, May 14, 2010
• Conservative psyche - Wednesday, May 12, 2010
• Are you smarter than a half-term governor? - Wednesday, April 14, 2010
• Rewriting History - Monday, April 05, 2010
• Fred Phelps - Friday, April 02, 2010
• Combing the Daily Newspaper - Wednesday, March 17, 2010
• Noir - Friday, November 06, 2009
• Interview with SOLDIER'S GAP author continued - Tuesday, November 03, 2009
• More from SOLDIER'S GAP author - Thursday, October 29, 2009
• SOLDIER'S GAP author answers questions. - Thursday, October 22, 2009
• Everything you always wanted to know about writing a novel - Tuesday, October 20, 2009
• Manuscript conventions - Thursday, September 10, 2009
• Revision - Monday, September 07, 2009
• Dialogue - Thursday, September 03, 2009
• Scene cards - Tuesday, September 01, 2009
• Point of view - Thursday, August 27, 2009
• Plot - Tuesday, August 25, 2009
• Arnie's dream - Friday, August 21, 2009
• Rituals - Thursday, August 20, 2009
• Dressing Arnie Vogel - Tuesday, August 18, 2009
• Character sketch continued - Friday, August 14, 2009
• Character sketch - Thursday, August 13, 2009
• Characterization - Wednesday, August 12, 2009
• Scene outline - Tuesday, August 11, 2009
• Warm-up activity - Freewriting - Monday, August 10, 2009
• Warm-up activity - brainstorming - Sunday, August 09, 2009
• Warm-up techniques (clustering) - Saturday, August 08, 2009


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