Story is here.
The Bush Administration had failed to heed history and mired us in a three front war of terror (that in Afghanistan, Iraq and against the American people with increased surveillance, eroded civil rights and at times overweening increases in public security), piled up debt that made us vulnerable to the machinations of Japan, China, the Saudis and even Mexico, as well as a crippling of defense mechanisms geared to protecting the public from corporate swindlers.
The Katrina disaster was a result of that, exposing the conservative penchant for an "I'm alright jack, too bad for you" mindset. Too the rest of the world, that is when the wheels really seemed to begin falling off of the American cadillac.
Our infrastructure was already deteriorating and we needed substantial reinvestment in it anyway. That will happen under Obama even with the onerous bailouts the financial mismanagement has engendered.
What is further required is raising the minimum wage to $10 an hour, making bonuses given to executives available to regular employees on the shop floor, and caps on the ratio of executive pay vis a vis what the lower rung workers receive.
So it just isn't a structural problem, it is a cultural one and the mentality of wilfull rapine has to be curbed in favor of encouraging more of an esprit d' corps between workers and bosses rather than the state of war we have now.
Censored
Note: Did I use too many big words and the moderator didn't understand them? So to be safe he/she deleted my post? Or they think "machination" is an obscenity?
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Monday, October 13, 2008
Friday, September 26, 2008
The Bailout: Why Are Bush and the Democrats Combining Against Congressional Republicans?
Story is here.
Wow, James Pinkerton playing class warfare! Who woulda thunk it! What would your man Newt think Jim? And why do you hate Newt?
Of course, this is just bs Republican spin. This plan is a much more measured response than what the Bush Administration wanted. I'm not crazy about it, but doing something is nonetheless reassuring psychologically to the markets both here and abroad.
Moreover, Pinkerton completely glosses over the fact that he collaborated with the GOP to ensure that the current crisis happened by endorsing its wreckless policies.
One can also say (admittedly somewhat unfairly) that the GOP is willing to have a depression in the name of ideology.
However, if the Democrats tell the markets to get stuffed and we have a depression as a result, the Republican leadership, consistent only in its lust for power and not in holding fast to its stated ideals, will accuse the Democrats of being asleep at the switch and thus a treasonous dereliction of duty.
It is also true that if the Democrats ignored the pleas of economists for bailouts there would be ZERO Republicans that would praise them for doing so.
You can't have it both ways, Jim. Please, we aren't that dumb.
Censored
Wow, James Pinkerton playing class warfare! Who woulda thunk it! What would your man Newt think Jim? And why do you hate Newt?
Of course, this is just bs Republican spin. This plan is a much more measured response than what the Bush Administration wanted. I'm not crazy about it, but doing something is nonetheless reassuring psychologically to the markets both here and abroad.
Moreover, Pinkerton completely glosses over the fact that he collaborated with the GOP to ensure that the current crisis happened by endorsing its wreckless policies.
One can also say (admittedly somewhat unfairly) that the GOP is willing to have a depression in the name of ideology.
However, if the Democrats tell the markets to get stuffed and we have a depression as a result, the Republican leadership, consistent only in its lust for power and not in holding fast to its stated ideals, will accuse the Democrats of being asleep at the switch and thus a treasonous dereliction of duty.
It is also true that if the Democrats ignored the pleas of economists for bailouts there would be ZERO Republicans that would praise them for doing so.
You can't have it both ways, Jim. Please, we aren't that dumb.
Censored
Tuesday, September 23, 2008
Bailout Plan "Not Acceptable" To Congress
Story is here.
The Financial Times torched the plan on the basis that the assets may not be worth bupkis by the time the U.S. wants to withdraw its involvement, resulting in a monster size write down that will ultimately have to be compensated for by taxpayers. So you have asset deflation, few loans being made to consumers and businesses, resulting in a stagnant economy and an increased tax burden coupled with our economic future now being decided by a combination of China, Saudi Arabia, Japan and Mexico.
And I hope nobody is planning on any foreign leisure travel for the next five years, because the dollar is probably going to be worth about as much as the peso during that time---if we are lucky.
Bush, Cheney and their congressional enablers (Mitch McConnell, Tom Delay and Bill Frist, I'm looking your way!) are guilty of a particularly insidious form of treason. They should all die in jail for this.
Approved
The Financial Times torched the plan on the basis that the assets may not be worth bupkis by the time the U.S. wants to withdraw its involvement, resulting in a monster size write down that will ultimately have to be compensated for by taxpayers. So you have asset deflation, few loans being made to consumers and businesses, resulting in a stagnant economy and an increased tax burden coupled with our economic future now being decided by a combination of China, Saudi Arabia, Japan and Mexico.
And I hope nobody is planning on any foreign leisure travel for the next five years, because the dollar is probably going to be worth about as much as the peso during that time---if we are lucky.
Bush, Cheney and their congressional enablers (Mitch McConnell, Tom Delay and Bill Frist, I'm looking your way!) are guilty of a particularly insidious form of treason. They should all die in jail for this.
Approved
Thursday, August 7, 2008
Leaked McCain Memo: Paint Obama As A "Job Killing Machine"
Story is here.
Hey, if anyone knows how to kill jobs, it's Republicans. What party affiliation do all those CEO's who lay off thousands of workers at a time claim? Yep, it's the yellow elephant label.
And let us not forget what they said about the Clinton Deficit Reduction Package: "It will lead to the mother of all recessions," said then Speaker of the House Newt Gingrich. But all it resulted in was budget surpluses and we had the greatest economic expansion in American history during Bill's administration. Where I lived at the time, unemployment was down to 2%.
Meanwhile, Hoover ignited a depression, we had stagflation under Nixon and Ford, we had a recession under Bush the Elder and now we have one under junior. Republican administrations are Auschwitz for the working man.
Approved
Note: There were 43 pages of responses to this article, so I am going to forego checking on it. I would think it got through.
Hey, if anyone knows how to kill jobs, it's Republicans. What party affiliation do all those CEO's who lay off thousands of workers at a time claim? Yep, it's the yellow elephant label.
And let us not forget what they said about the Clinton Deficit Reduction Package: "It will lead to the mother of all recessions," said then Speaker of the House Newt Gingrich. But all it resulted in was budget surpluses and we had the greatest economic expansion in American history during Bill's administration. Where I lived at the time, unemployment was down to 2%.
Meanwhile, Hoover ignited a depression, we had stagflation under Nixon and Ford, we had a recession under Bush the Elder and now we have one under junior. Republican administrations are Auschwitz for the working man.
Approved
Note: There were 43 pages of responses to this article, so I am going to forego checking on it. I would think it got through.
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