Tonight's guests include:
Steve Kornacki, senior writer for Salon and MSNBC contributor
Sen. Sherrod Brown, (D) Ohio
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Executive producer Bill Wolff shares a preview of tonight's show:
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Sorry, I know this is off topic but was not sure where else to put it:
Wanted to get this to Rachel:
EUGENE, Ore. (CN) - Former members of Bain Capital fired six out of seven managers of a senior housing company because they are not Mormon, the fired managers claim in Federal Court.
http://www.courthousenews.com/2012/04/17/45678.htm
Certainly, chances45--only MORMONS get to steal from the populace. Probably because only MORONS like Bain Capitalist, would hire them...
Hey there Rachel! Welcome back and congratulations with the release of Drift. Have you seen the movie/documentary "Thrive, What on earth will it take?" yet?! I am curious to know your reaction(s).
Peace.
Where is the feedback crawl?
Romney just wants to win even if that means he sacrifices everything. Republicans just want a puppet and that is Romney. That is how far their racism goes. They would choose the one who pays less taxes, give very little to charities and who does not respect the office of the presidency for their immoral principles. They do not care about the country enough because the majority of the people of the country 85% means nothing to them. They only share 7% of the wealth. If we do not make that 85% that they will be voting against their best interest, they will be sharing only 4% of the wealth.
To all postal workers out there, cash in your retirement. If they privatize it, let them get zilch. They just wanted you to give up your money to be distributed to the top 15% when privatization sets in. No postal worker will see that money. Protest against the congress to give that money back to the customers in the form of a tax credit or the postal workers. That money will not go to the workers. I can guarantee that. If it is by contract, take them to court soon to put a freeze on that money, unless used for what it is supposed to have been collected. Postal workers build up that fund with their hard work. But if they privatize none of the postal workers who are there now will see any.
That disgusting thief Congressman Darryl Issa is behind the 'privatization' urge to end our Post Office as we know it, to be replaced with the likes of UPS.
If this country closes its eyes about what this rapacious M/F'er is doing, maybe we got our eyes opened when Sandra Fluke busted into their All-Boys meeting about how to deal with these uppity women, 41 years AFTER Roe V. Wade.
If the people of California let this monster get away with this--if they don't FIRE HIS DIRTY ASS OUT OF CONGRESS--then they deserve what they'll get. That is--robbed. I agree with afrommi--except, instead of postal workers 'cashing in their retirement' rather, put it in ESCROW to be immediately disbursed to the postal workers. You all need a GOOD LAWYER on this one, because Darryl Issa was born dipped in s#it. He's the one who almost went to jail for defrauding insurance companies (buying cars & then declaring them stolen when they weren't) and then getting his brother to take the rap for his crimes, because he, Darryl, was gonna run for public office, and, as we all know, we have to be 'pure as the driven snow' to run for public office, so maybe people won't steal so much when they get there. So now Darryl Dearest is California's Congressman and wants to do away with our Postal Service. All this under the radar mind you. Rachel. This'd be a TERRIFIC subject for you! You & Ed could get together on it. You & Ed & Sharpton & Larry O'D...
BTW...This crook invented the VIPER which is a great anti-theft system for cars--protects your car even against such as its inventor Darryl. That was the only honest money that this crook ever made, and it sort of illustrates the old axiom which goes: In order to thwart a crook, hire another crook to show you how.
I'd suggest, that once the general public's been made aware of the plot against their Postal Service, they FIRE ISSA'S A$$ right out of their Congress.
RACHEL!
Hi, Rachel!! I love your show!
1. Regarding anthropomorphising space shuttles, Star Trek, among others, firmly posited that space ships (and oceangoing vessels) had a spirit that was aware of decommissioning and other events. I thought of that during your beginning tonight and frequently think of it when ships are decommissioned. As for that dog that lay beside its dead friend in the LA street and wouldn't leave, well.....
2. Regarding all your reaching out to Romney and others and not receiving a response, could you/would you give us a scorecard some night on the status of your efforts?
Judith in LA
Rachel,
Your show is super !!
go to politic365.com and look at the Norris Smith story, interesting .
Rachel,
Tonights show was awsome! Watching every night.
Take a look at the Norris Smith story at politic365.com. Unbelievable !!
Keep up the great work !!
Love the show.
It might be a good idea to explain how money works on one of your segments.
All of treasury funds printed by the US mint are loaned to other banks through the Federal Reserve system. The interest rates of these bank-to-bank loans is called the prime interest rate.
That is why all of the money in your wallet has "federal reserve note" printed on it. All $ is traceable to the US mint through the Fed.
The Federal Reserve sets the Federal Fund Rate for US Treasury Notes (federal loan interest rate).
The Federal Reserve also sets the margin rate.
The President appoints 1 of the sitting Fed board members to be chairman for a 4 year term. The other Fed members are appointed and confirmed by congress for 14 year terms.
That is how the president influences the interest rate and the economy.
Private money is also created when customers put money into banks as investments. Up to 80% of investment funds can be loaned out, but 20% must be retained for cutover demand. The 20% that must be retained by the bank is called the "margin". Each $100 put into a long-term deposit becomes up to $180 through this process as loans mature (mortgages, credit cards, auto loans, ...).
The Federal Reserve insures bank deposits in case there is a run on the bank that depletes all their money.
Commercial banks historically set the "prime" interest rate 3% above the Federal Fund rate (loan customers with best credit rating).
The mint can't just "print money" to pay for stuff. That's been illegal since the 1930s.
All money prated by the Treasury has to go through the banking system via the Fed.
The 80% loan limit is called "margin". The banking margin rate in the US is established by the Federal Reserve at 20%.
That bank "creates" the $80 out of thin air using investment funds.
Banks usually pay an interest rate to investors, which is between 30% and 60% of the interest that is payed by loan customers (mortgages and car payments).
Interest is also called "leverage", because the lower the interest rate, the larger the loan that a customer can afford based on their qualifying income.
Secured bank loans are used to pay for durable goods, like real estate and automobiles.
Securities that exceeds the face value of the loan is called "wealth", which accumulates slowly as loans are payed off. Wealth declines when demand declines. Real estate collapsed in 2008 because the population declined by about 4 million, which created abandoned real estate and banking failures.
The Federal Reserve may lower the prime interest rate to increase wealth. The Fed can also modify the margin rate. About half the total wealth in the US exists as real estate.
Obama lowered the prime interest rate to stimulate the economy in 2009, which allowed banks to expand the money supply using leverage, which restored some of the wealth that was lost when the population declined.
The federal mint prints money to replace currency that has worn out. The federal mint usually prints the amount of money that keeps inflation near 4%.
The last president to print more money than that was Bush (the TARP bailout).
If bank customers with savings accounts demand all their money back all at once, the bank will be unable to pay. This is called "insolvency", and that occurs when reserves fall below 20%.
The Federal Reserve is 15 regional banks that insure all bank investments in the US, so that customers with savings will be payed in the event the bank becomes insolvent and unable to pay without assistance. This is called FDIC insurance. Similar systems exists for credit unions and S&Ls.
Money used to be based on gold before the 1930s but that was too unstable, and our modern monetary system was invented by FDR and congress during his first 100 days in office when gold investment was outlawed.
Nixon messed the whole thing up by legalizing gold as an investment during the 1970s because gold interferes with how much control the Fed has over the economy.
The value of the US dollar goes down as US gold demand increases, so increased demand for gold devalues US currency. China is having a MAJOR problem with this right now. Their economy is about to implode.
I realize this isn't in your control, but please please please can't you get another ad! I know the Exxon ad by heart, already!