Good Men Project Commentary

See my recent commentary via The Good Men Project. Yes... life sucks.

This is a heavily edited version w/ errors (a result of the editing process).

Debating whether to post the complete version (full version is much better).

Would love to have my own bi-weekly column on a website or platform outside of blogger. Something I am still working on.

Black Unemployment and Underemployment at an All Time High

Hear a great discussion from NPR about Black unemployment... from a few weeks ago.

A must listen.

NPR Series Follows Unemployed in St. Louis

NPR is spotlighting six unemployed St. Louisans as they look for work. Listen to the ongoing series here.

A Night In Tunisia

As a broke grad student, with not much to look forward to, broken soul, stuck under a mountain of debt with no way out & with no prospects for meaningful work, I feel just as hopeless as Mohammad Bouazizi. Although I don't have the guts, nor do I intend, to set myself on fire. But events overseas over the past few weeks have shown that political change is better when it comes from within. This goes against the view that you can spread democracy by invading a country, dropping bombs, being an occupying force, imposing your will...and then using that as a launch pad to spread democracy to the rest of a region. Iraq serves as a horrible reminder of this flawed thinking. That kind of goal (spreading democracy) has to be accomplished organically.

Already there are protests in Morocco, Algeria, and Egypt as a result of the Tunisian revolution.

America's Next Chapter - A discussion about the current state of the nation

"Is There a Brighter Future for the Next Generation?"

Watch/Hear an interesting discussion from earlier this month on the state of America and the outlook for future generations. The event was moderated by Tavis Smiley and was held at George Washington University. I'm not all that crazy about Tavis Smiley, and you could probably pick up a hint of the animus that he still has for Obama... but despite that, the event provides a good alternative "State of the Union".

I prefer this lineup of speakers over panels that Smiley typically has for predominantly Black events. This provides a greater mix of viewpoints.

Watch the event in full here.

Or listen to the full program here.


Related Posts

The American Dream - Harder Than Ever To Attain

Arianna Huffington Discusses Third World America

Did You Get Anything From The State of the Union Speech?

I didn't. He said what he was expected to say... but beyond that, he really didn't address any pressing issues for the non-wealthy - issues concerning me. I was invisible. Post-SOTU interviews done by NPR of St. Louis listeners reflected my view... and confirmed that it wasn't just me. I am resigned to the fact that I will continue to be invisible to this Administration.

I would have loved to hear something about a bailout for the working class....and even the middle class. I would have loved to hear about some sort of relief for college graduates who can't find meaningful work, who are drowning in student loan debt and can't afford to make payments (because of America's corrupt profit driven system of higher education that leaves students in debt for much of the rest of their lives....slaves to financial institutions before they even have a chance to start families). I heard nothing about helping Americans pay for higher education.

In terms of jobs, I really didn't hear much about a robust job creation plan and how he would make it happen. We only heard a vision and a rough outline.... not much else. The outline was fairly good.... but it is about 18 months too late. I was calling for the kind of job creation that he mentioned 2 years ago. More of the stimulus money should have been directed towards green energy projects and R&D to encourage innovation and job creation. But I guess it's better late than never.

It is clear to me that the world that he sees and the world that working people see are two different images. He thinks he is rolling out a wonderful plan....with perfect timing for the election cycle... while working people on the ground - who have been talking about jobs for at least the past year - see a man who is a good year to year & a half late in terms of recognizing the issues facing real people. It's as if he woke up one day last week and realized jobs and the economy were the real issues. Of course that's not the case, but (not surprising considering how horrible the image problem is in this Administration) that's how the President often looks to political observers like myself. It just looks like he ends up devoting quite a bit of time & energy playing catch up. How often does he go to rural & urban areas to sit down with real people? I'm not talking about staged productions and photo opportunities at auto assembly plants... but really getting in touch with people and learning about what it's like to live on incomes that don't amount to living wages.

Realizing what Americans voted for last November, and understanding that nothing of real significance is going to get done over the next two years in terms of Progress and good legislation directly benefiting ordinary folks, I found it hard to be excited or remotely hopeful about anything from this SOTU.

See commentary from around the net.

Hear Interview with Tom Friedman

I don't always agree with Tom Friedman (more like Tomfoolery at times - example #1 would be his position on the invasion of Iraq). But here he is talking about the decline of the U.S., the current political malaise, and how this Country will get its but kicked economically if it doesn't take steps to become more competitive. Once in a while he actually says something that makes sense. Listen Here.

An Interview with Robert Reich

Dr. Cornel West interviews Economist & former Labor Secretary Robert Reich. He discusses his latest work "Aftershock", and explains the current economic and political situation. Listen Here.

Obama and the Democrats Still Don't Get It - Fix the PR & Messaging, and Pick the Right Battles

The Midterm (S)elections ended pretty much as expected. Confused Americans tired of gridlock in Washington DC, voted for more gridlock. This is frustrating because I know many of those white Republican voters are poor working class and middle class people. Many have been greatly impacted by the economy. I don't understand how they believe Republicans will make their lives any better. Afterall, a Republican White House was at the helm when the economy crashed. Republicans will aim to cut projects and services that many of their own constituents depend on... food stamps, medicare, unemployment insurance, S-chip, infrastructure investments, money for Police and Teachers...you name it. The next two years will be very constraining for President Obama, due to a Republican House of Representatives that will block his remaining agenda.

I have been annoyed and dejected about politics and the direction of the Country (still going in the wrong direction) over the past several weeks and have not been motivated to write anything. Voters and the Country have been disappointing more often than not over the past several years. Things started to go downhill politically in the late 1990's when Republicans and Ken Starr turned the Clinton affair into a circus. Then the U.S. made a number of foreign policy mistakes... under Clinton, which didn't help the U.S. at all...and caused more harm. That was followed up by the 2000 elections. A year later... we had the 9/11 catastrophe. The U.S. hasn't been the same since. Every major negative event that happened after 2000 and 2001 can be traced back to the major events of those two years (the Election of Bush/Cheney, and 9/11)....every major negative event. The nation is still licking its wounds from 2000 and 2001.

What annoyed me most about the Democrats, Post-election, was the fact that there didn't seem to be any effort whatsoever to understand what helped lead to the sharp losses. There was no recognition at all of Progressive/Democratic Party strategy. It was back to business as usual. The first major sign that the Democrats didn't get it was the fact that they chose Nancy Pelosi to continue as the Party's leader in the House of Representatives. This would have been a good opportunity to start fresh with a new leader. Pelosi, in my view, was never very effective as Speaker. Not only does the choice of Pelosi provide more motivation for Republicans over the next two years, but it sends the signal that Democrats are, to some extent, tone deaf. Democrats never seemed to have their finger on the collective pulse of the American public. Despite the need to focus on jobs and the economy.... Democrats chose Healthcare. That in of itself was not the fatal blow. It was the way that they went about selling Healthcare Reform that sunk them. Democrats never seemed to understand the importance of messaging and PR... how to grab and maintain the initiative in the information war. As a result, they lost the information war early on and were never able to regain control of the debate. Democrats also failed to grasp the fact that the U.S. is a centrist to center-right nation, and that governing may sometimes require a centrist approach. However, this is also a nation, as centrist as it may be, where people like populist ideas...some of which are Progressive ideas. In other words...large complicated bills that few people understand are often frowned upon due to costs and the image of too much government. But when you separate Progressive ideas into smaller slices, Americans often like them.... the populist side of the Country kicks in. Democrats failed to exploit the way that Americans understand and perceive policy. It's as if Democrats didn't bother gauging public sentiment at all to determine the best strategy for proceeding.

They were able to pass a bill....many observers, including myself, predicted that. But the cost was probably too high...politically and otherwise. A better strategy might have been passing the bill in pieces which would have been less confusing. They should have focused on passing (and branding) the popular aspects of reform....making it difficult for Republicans to confuse and misinform voters.

President Obama himself doesn't seem to get it. Not only doesn't he seem to understand the larger issues that I mentioned regarding Democrats... he also doesn't seem to understand how his position and approach as President will have to change. During his post-election press conference, the President once again extended an olive branch to Republicans and talked bipartisanship. This was after (Speaker elect) John Boehner and Senate minority leader Mitch McConnell, made it clear that they had no intentions on pursuing a bipartisan approach.

"This is not a time for compromise, and I can tell you that we will not compromise on our principles," Boehner said during an appearance on conservative Sean Hannity's radio show.

McConnell made similar statements, basically saying that his priority would be to make sure that Obama is defeated in 2012. The only way to do that is to sabotage the remaining two years of Obama's Presidency....which is exactly what they plan to do. It's the same approach that they used during his first two years in office.

The Republican plan is basically to continue the approach of obstruction...and run out the clock on Obama's time in office. They don't want to allow Obama to claim credit for anything positive. They are even reluctant to allow Obama to sign the New START Treaty. The START Treaty is part of a family of Treaties going back to the SALT Treaties under Ford and Carter. They have been the cornerstone of arms control & arms reduction between the U.S. and Russia for four decades. Senate approval of these treaties is usually a formality. All out delays, opposition, sabotage & interference is extremely unusual... not just over the past four decades, but throughout the history of the Republic.

Is Obama tone deaf? He doesn't seem to understand that Republicans have declared war on his Presidency. He also doesn't seem to understand that Democrats/Progressives are in the midst of an information war...and they are losing. I can understand his desire to remain cordial. That's the professional thing to do... but behind the scenes he has to have a two track strategy if he wants to avoid being a one term President.

There is a way that Obama could minimize Republican obstructionism and even put pressure on Republicans. I'm not very optimistic, because the Obama strategy team and the strategy approach of the Party as a whole has been so ineffective over the past two years. But he could position himself to be competitive in 2012, if (along with the Democratic Party) he takes the following approach:

1. Vastly improve the messaging and PR. This has been dismal lately. Work to establish a media infrastructure and communications network for Progressives that could rival the Republican media apparatus (which dominates TV news, and Talk Radio, and has a growing presence on the net). The Democrats and the Obama Administration also must understand the importance of branding. Also, re-establish the PR response effort that was in place during the 2007-08 campaign. Dismantling this after the election was a huge mistake. Put the PR war room back in place.
Without making strides in the information war... Obama's re-election could be in doubt. You can have the best ideas in the world.... but if you have no way to get your message out... no way to compete on the airwaves, no way to combat and prevent distortions... then it doesn't really matter.

2. Keep making efforts to work with Republicans, but behind the scenes, rely on a two track approach. The real approach should be to cut out Congress altogether when necessary.... earlier than usual. Instead, talk directly to the American people about proposals. Talk to Americans during prime time (yes... interrupt them) once or twice a month to provide regular status updates. Tell them what legislation you want/and that the nation needs and point out when Republicans are blocking those efforts. Focus on popular pieces of legislation at least initially. This could work to basically turn the tables on Republicans and force them to govern ...and make tough decisions. Call their bluff on debt issues... make them explain the painful cuts to programs that people depend on. Make them explain why tax cuts for the rich were more important than a poor family's unemployment benefits or food stamps... down to earth, real world programs that people depend on to keep food on the table. Programs that people are depending on more than ever now...ironically due to an economic collapse that took place under a Republican President. Some of those people that will be impacted by Republican cuts are going to be white, working class Republicans. If Republicans block everything (even popular, sensible legislation)...the hope is that American voters will notice and at the very least give Obama another four years. Not that i'm a huge Obama fan (never was)....although I am proud. The reality is... there is no alternative. The idea of a President Romney, Gingrich, Barbour or the ultimate nightmare Sarah Palin, scares the daylights out of me.

3. Obama has to bring in a more effective, more creative strategy team. It's almost a full month after the elections and I see no improvement on the media/PR front.

4. Democrats have to choose their battles more carefully...concentrating on issues that the American people are most concerned with, keeping their fingers on the collective pulse of the nation, and choosing battles that would give them a chance to be effective and to win. Once a battle is chosen... stand up and fight for the Democratic/Progressive position....but be open to compromise when practical and sensible, and when the other side is acting in good faith (which is almost never). But the hope is...by choosing populist positions, the public will be on the side of Progressives, making Republican obstructionism much more difficult. This is why it is important to explain proposals in terms of how they would make life better for average Americans.... how a proposal would create jobs...etc. Speak in terms that middle America can understand.

5. Democrats/Progressives should invest heavily in a public/voter education initiative, both through public school curriculum's and through not-for-profit groups. Such a campaign should be a sustained long term effort, lasting years.

Why Did Americans Jump on the Republican Bandwagon?

1. Republicans are much more effective when it comes to PR and branding. Republican marketing/PR is so strong that they could sell just about anything. It's all in the packaging. Republican strategists understand how to use information or misinformation to change, and control public opinion. Yes, it's manipulative....but it works for them. They were basically able to convince enough voters that the economic pain that they were feeling was somehow the fault of President Obama (not because of the jackasses who came before, who were asleep at the wheel for 8 years). Yes, the Party controlling the White House typically loses seats in Congress after Midterm elections, however, the losses this year were made worse by deliberate efforts by the GOP (and its allies) to confuse and misinform voters.

2. Well I will let Pollster founder Charles Franklin say it. Sadly he's right. He basically says what I have been pointing out for years. I don't bring this up as a way to make fun of voters. Quite the contrary. I don't believe it's necessarily their fault. It's easy to fall victim to misinformation, especially in the digital/internet age. It's that much easier to fall victim when you may not have all the tools to navigate through the nonsense and lies, and to determine what good information is vs. bad information. Public School systems and colleges don't put enough emphasis on basic civics, government, political science, history, geography, and cultural instruction. This is why voter education has to be a fundamental part of the Democratic Party's strategy.

Discussion on Long Term Unemployment

Hear a pretty good discussion on long term unemployment from NPR. (under-employment is also discussed). How has the economy impacted you?

I posted a general plan/vision for dealing with unemployment back in 2009, and again a few months ago. Unfortunately, Obama and his advisers are not seeking the kind of approach I presented (massive incentive programs centered around green jobs, research/innovation, and other job creation strategies). The Republican Congress would never support these ideas anyway. But I still believe that the vision I described is generally the way to go. Without major investments in infrastructure and programs that would produce long term sustainable jobs, the unemployment rate will likely remain high for years.

Related

Rikyrah, this might interest you...

Difficulties faced by women in the workplace

Women file suit against Citigroup

Reagan Budget Director Basically Says Republican Pledge is a Joke - Trashes Idea of Permanent Tax Cuts for the Rich

Former Reagan Budget Director David Stockman tells the truth about the Republican Pledge to America in interview with NPR this past week. Although he also criticized Democrats (naturally). I think his suggestion that TARP was a complete waste/failure isn't quite correct.... especially since we now know that the final bill is far less than the hundreds of billions that had been anticipated.

But I love how he exposes the phony act that Republicans have been putting on regarding taxes and their economic proposals.

Related

Jon Stewart's segment on the Republican's non-plan for the Country is classic! Same Republican BS.

Arianna Huffington Discusses "Third World America"

Watch an interview with Arianna Huffington focusing on her book Third World America, which talks about deteriorating conditions for the Middle Class in America. Huffington suggests that we are headed for third world status if current economic trends continue. (I have mentioned several times that this is where we are headed, and believe that in some respects, we are already there). But what is different about Arianna Huffingtons commentary is that she sees things from a different perspective than most Progressives. The way that she somehow doesn't see the working class and working poor is quite annoying to me. In many ways, her perspective mirrors that of the Obama Administration in terms of being blind to the working class. Where in the Hell does she think the middle class comes from.... does she think they appear out of nowhere and are suddenly middle class? The working class and working poor of today are supposed to be tomorrows middle class. They make no effort to link these groups together and propose policies that benefit various groups collectively. They have a very myopic view of what the middle class really is.

This is one reason why I am not a big fan of Huffington. Her legitimacy is not very solid. I would much rather hear Barbara Ehrenreich speak on these issues. Someone who actually knows something about what life is like for the poor, the working class, and the middle class. But the discussions with Huffington were still interesting and worthwhile.

Hear a more in depth discussion from NPR.

Related Posts

The American Dream Harder Than Ever To Attain

The Need for Living Wages

President Obama's Town Hall Meeting on the Economy

Highlights of the CNBC Town Hall

Also see Backyard Town Hall Meeting in Virginia

My Take:

He should have been doing nationally televised Town Halls months ago. In fact, he should have been doing these events on a monthly basis from the time he took office. If he would have been doing these back in April.. (just go back to Spring and Summer) the Democrats would be in much better shape right now in terms of public opinion. Instead, they have allowed the conservative media to control the national debate...even to the point of rewriting history to fool and confuse voters, and that has worked for the Republicans very well so far.

But in just the past week, since Democrats decided to fight back (somewhat), their standing has improved. I know this is campaign season.... but some of the strategy that the Democrats are using now should have been used much earlier in the year. I have mentioned Town Halls countless times. One of the big mistakes that Obama made when he won the Presidency was that he disbanded his fact-checking/debunking/ communications teams. The war room of fast reacting staff and volunteers who kept up with much of the lies and misinformation being told about the President during the campaign could have been put to good use during the first 2 years of his Presidency (and beyond). For some reason, President Obama assumed that all would be well after January 2009. But the truth is... on the Republican side, things were just getting started.

I still don't think he completely gets it. The frustration expressed by the guests at the Town Hall was exactly the kind of frustration that Republicans wanted them to have at this point. The GOP wanted to block as much as they could, so that the Presidents own supporters would be frustrated enough to lose faith, give up, and stay home. They definitely were successful at peeling away crucial support from independents. That's why if the Presidential election were held today... it would look more like 2000 or 2004 than the landslide of 2008. And Obama would likely end up on the short end like Gore and Kerry.

But recent polling suggests that when Progressives actually fight back... that when Progressive ideals are put side by side with Tea Party Republican ideals.... that when Progressive plans are compared with Conservative Republican plans, Progressives tend to do a little better in the Court of public opinion. A common sense Progressive vision is much better than what the Tea Party has in mind. Americans are receptive to Progressive views when you break things down into policy and explain it to them in a way that they can comprehend. Why can't Obama and Co. figure this out? Why can't they figure out how to develop a long term strategy that would allow them to compete in the information war?

Their rotten PR annoys me. It's like seeing a superior product being marketed by an atrocious salesman. Companies like this often fail, despite having better stuff.

Republican Policies Would Be Worse For The Economy

A newsweek article from last week didn't tell me anything that I didn't already know. But it is a good read, and it dealt with Republican claims point by point.

Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge
Newsweek
Andrew Romano 
August 27, 2010

Nothing is more important to Republican politicians these days than jobs and the deficit—at least according to Republican politicians. As House Minority Leader John Boehner put it in a "major economic address" on Tuesday, President Obama is "doing everything possible to prevent jobs from being created" while refusing to do anything at all "about bringing down the deficits that threaten our economy." Elect Republicans in November, Boehner assured his audience, and we will put an end to this insanity.

There's only one problem with Boehner's message: so far, the things that Republicans have said they want to do won't actually boost employment or reduce deficits. In fact, much the opposite. By combing through a variety of studies and projections from nonpartisan economic sources, we here at Gaggle headquarters have found that if Republicans were in charge from January 2009 onward—and if they were now given carte blanche to enact the proposals they want to—the projected 2010–2020 deficits would be larger than they are under Obama, and fewer people would probably be employed.

The math is pretty straightforward. Let's start with the deficit. According to the Congressional Budget Office, Obama's stimulus plan is projected to increase budget deficits over the next decade by $814 billion. That's a big number. But Republicans opposed the legislation refused to provide an alternative, and now insist that it's been a total failure. So let's be generous and subtract it from their side of the equation. The Obama deficit: $814 billion. The GOP deficit: $0.

Next up is health-care reform. Obama passed it; Republicans want to repeal it "lock, stock, and barrel." The reason, as Senate Minority Leader Mitch McConnell explained in July, is that "we all know that it's going to increase the deficit." Unfortunately for the GOP, though, nonpartisan experts tend to disagree. Just this Tuesday, for example, the CBO released a letter saying that Obama's health-care-reform legislation would "reduce the projected budget deficit by $30 billion over the next 10 years,” while repealing the law would generate "an increase in deficits ... of $455 billion ... over that [same] period." Factor those figures into the equation and the Obama deficit falls to $784 billion. The GOP deficit, meanwhile, rises to $455 billion. Getting warmer.

Read the rest here...

American Dream Harder Than Ever To Attain

A recent piece in the New York Times, by writer Louis Uchitelle, highlights the difficulties faced by the millennial generation, also called Generation Y. But it hasn't been much better for my generation (Generation X).

From the piece American Dream Is Elusive for New Generation:

The Great Depression damaged the self-confidence of the young, and that is beginning to happen now, according to pollsters, sociologists and economists. Young men in particular lost a sense of direction, Glen H. Elder Jr., a sociologist at the University of North Carolina, found in his study, “Children of the Great Depression.” In some cases they were forced into work they did not want — the issue for Scott Nicholson.

Military service in World War II, along with the G.I. Bill and a booming economy, restored well-being; by the 1970s, when Mr. Elder did his retrospective study, the hardships of the Depression were more a memory than an open sore. “They came out of the war with purpose in their lives, and by age 40 most of them were doing well,” he said, speaking of his study in a recent interview.

The outlook this time is not so clear. Starved for jobs at adequate pay, the millennials tend to seek refuge in college and in the military and to put off marriage and child-bearing. Those who are working often stay with the jobs they have rather than jump to better paying but less secure ones, as young people seeking advancement normally do. And they are increasingly willing to forgo raises, or to settle for small ones.

Read the full New York Times report.

*************

Worse for Black Americans

See reports on Black poverty and the struggle with recession from the BBC and MSNBC. The Loop also has a good piece on childhood poverty from last year.

I gave up on the American Dream some years ago. Now I am just seeking survival. I realized the Dream had become an empty slogan.... that the chances of achieving it were slim to none. I almost feel as if I have been lied to all this time. I started to feel this way at age 27 or 28, when I had begun to run-in-place. I just wasn't achieving, even though I was working everyday and studying hard. The last 5-10 years pretty much confirmed the doubts going through my mind at the time.

Now I am about $80,000.00 in debt with no prospects for meaningful employment. The chances that I will be able to pay this money back is pretty close to zero. Over the last year I have been engaging in all sorts of maneuvers (including going back to school and making matters worse with more debt) to keep creditors at bay just a little while longer. But at some point in the next year or two, I will be looking at default. Once I run out of options and default, I will be ineligible for many....well.... basically all jobs in the Government sector...where I want to work. American Dream? Where?

And the thought of finding a mate, developing relationships, and starting a family have been out of the question. Not even an option for me.... never has been. Men, of course, are damn near exclusively defined by what they do....how much money they earn, their ability to support a family, yadda yadda yadda. This is how women rate men. This is especially the case in the U.S., where women are shallow & materialistic to the extreme.

If a man can't meet certain professional/financial expectations...if you don't have a job with a respectable salary, if you can't support a family.... then you aren't considered a man at all. Chances for actually attracting a decent mate under such circumstances are remote. So in the last decade (really more than that) I have actually never bothered to try with any serious effort. All due to this elusive "American Dream".... trying to hold out for a meaningful job opportunity. The lost decade has really worn me down.

(btw... I think one of the next bubbles to pop will be student loans....as students who leave college end up like me... stuck in BS service jobs earning less than $30,000 a year....or can't find work at all).

Needless to say I really hate my life...and the prospects for the future are bleak. With the incompetence of the Obama Administration....not having a clue of what the Hell to do to stimulate the economy...and with all the wars, the misguided foreign policy, and the financial mess (global and personal), I believe things will get worse.

An Xavier University survey seems to support my angst about the future. From the Atlantic:

When asked if it is now harder or easier to attain "the American Dream" than it was for their parents' generation, 60 percent of Xavier's 1,022 respondents said it's getting harder; 68 percent, meanwhile, said it will be even harder for their children than it is for them.

The poll was conducted Feb. 14-21 by Fairbank, Maslin, Maullin, Metz & Associates (FM3) for Xavier's Institute for Politics and the American Dream, reaching respondents over 18 years old via land lines and cell phones. Margin of error was +/-3.1 percent. Xavier plans to release a similar poll every year.

Even as people think it's getting harder to achieve the dream, Xavier found, they still believe--more or less--that it's possible with hard work: 35 percent said the American dream is "entirely" dependent on hard work, while 53 percent said it's roughly an even mix of hard work and good luck/circumstances. And 67 percent think they can achieve it in their lifetimes.

Fifty-eight percent, meanwhile, said America itself is in decline.

I actually am a little more pessimistic about the "hard work" theme in the Xavier survey, because even with hard work, the Dream seems out of reach. And more important than that was the belief by the majority of respondents that the U.S. was in decline. (Something I have been saying for years).

Read the summary of the Xavier University survey conducted earlier this year. See pdf.

Related Links

The End of the American Dream - Working Harder, Falling Further Behind, by Lee Sustar

Is The American Dream Possible for Most Anymore? (Discussions w/ Barbara Ehrenreich).

Impact of Corporate Based Economy (some links may be dead).

The Politics of Stupidity...or More Accurately, The Stupidity of Our Politics

E.J. Dionne posted a great commentary today on Truthdig.

The Politics of Stupidity Strikes Again

Can a nation remain a superpower if its internal politics are incorrigibly stupid?

Start with taxes. In every other serious democracy, conservative political parties feel at least some obligation to match their tax policies with their spending plans. David Cameron, the new Conservative prime minister in Britain, is a leading example.

He recently offered a rather brutal budget that includes severe cutbacks. I have doubts about some of them, but at least Cameron cared enough about reducing his country’s deficit that alongside the cuts, he also proposed an increase in the value-added tax from 17.5 percent to 20 percent. Imagine: a fiscal conservative who really is a fiscal conservative.

That could never happen here because the fairy tale of supply-side economics insists that taxes are always too high, especially on the rich.

This is why Democrats will be fools if they don’t try to turn the Republicans’ refusal to raise taxes on families earning more than $250,000 a year into an election issue. If Democrats go into a headlong retreat on this, they will have no standing to govern.

The simple truth is that the wealthy in the United States—the people who have made almost all the income gains in recent years—are undertaxed compared with everyone else.

Consider two reports from the Center on Budget and Policy Priorities. One, issued last month, highlighted findings from the Congressional Budget Office showing that “the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest fifths of the country more than tripled between 1979 and 2007,” the period for which figures are available.

The other, from February, used Internal Revenue Service data to show that the effective federal income tax rate for the 400 taxpayers with the very highest incomes declined by nearly half in just over a decade, even as their pre-tax incomes have grown five times larger.

The study found that the top 400 households “paid 16.6 percent of their income in federal individual income taxes in 2007, down from 30 percent in 1995.” We are talking here about truly rich people: Using 2007 dollars, it took an adjusted gross income of at least $35 million to get into the top 400 in 1992, and $139 million in 2007.

Read the Full Commentary from Truthdig.

Is the U.S. Headed For a Greek Style Economic Collapse?

Financial Historian Niall Ferguson thinks the U.S. could be headed for a big fall- IF it stays on its current course of spending much more than it collects in revenue. Hear discussion from OnPointRadio. (A Must Listen). He points out what I have been saying here since I started... this business as usual nonsense is unsustainable. Business as usual meaning spending billions (now well over a Trillion) on wars that we don't need, being afraid to talk about a sensible tax policy...because Republicans have turned just the mention of taxes into a "taboo", not working fast enough to build and feed a Green industry- continuing to assume that it will magically blossom on its own, not working hard enough to build small/medium businesses and to create jobs, and not investing in educating future generations (why do I have to go $80,000.00 in debt before I even have a chance to live...just because I want an education? True story....my story). Other countries educate their people at very low cost or for free in some cases. They put a priority on people, rather than huge military industrial complex's or phony corrupt stock markets.

I am not as downbeat as some of the voices of gloom and doom. I don't think that the U.S. is headed for a quick collapse - at least not yet. In my mind, I am keeping my fingers crossed that it doesn't happen. The U.S. came close to this in the Fall of 2008. A collapse of the big banks was narrowly avoided. I am skeptical for the future though. The Obama administration can barely get a financial reform bill approved in the House & Senate - in fact, there are currently not enough votes to get the bill through the Senate. Republicans are blocking any efforts to make Progress on reforming an out of date system. With the prospect of clueless American voters returning these same Republicans to power in November of this year and again in 2012, there is no reason to be hopeful. Republicans are talking from both sides of their mouths. On one hand, Republicans say they are concerned about the debt, the deficit, and want to control spending, yet they blocked the Presidents Debt Commission - a commission tasked with steering the Country clear of complete economic collapse. I realize that this is part of the Republican Party's efforts to weaken Obama's ability to govern, so that he fails. But shouldn't they be more concerned about the Country???? Just a little concerned?

I believe the U.S. may be headed for several months, if not years, of stagnant growth and high unemployment which will only make the debt problems worse. With the lack of revenue from business growth and job creation, the U.S. will have to borrow more to maintain basic services. Cuts...and I mean massive cuts, will be necessary if the U.S. is to avoid a Greek-like crisis. But I just don't see that happening. Politicians from both parties are more concerned with their political careers. David Walker, former comptroller general of the United States, warns that by 2035, the U.S. will only be able to afford to pay the interest on the debt and nothing else. Unreal! Why isn't this issue on the front burner?

Why do I believe (am hopeful anyway....keeping fingers crossed) that the U.S. isn't in immediate danger of a complete meltdown?:

1. For now...the U.S. maintains the advantage of being the biggest economy in the World...and the biggest consumer. This means that other nations (who are now the producers) will be cooperative, for the most part, on trade, monetary policy, and will want to make sure that their chief consumer remains stable....so their economies can stay afloat.

2. The U.S. currency is still....for now... the main reserve currency for the globe..... for now.

3. The U.S. isn't as leveraged (debt as % of GDP) as many other nations in Europe.

So there is hope... but there has to be some action. Right now... no real action is on the horizon. That's what bothers me. The U.S. is stuck on stupid...stuck in some sort of perpetual malaise, thanks to the Republican Party and a stupid electorate that keeps supporting these jackasses.

No One Would Listen - A Story of U.S. Government Corruption and Incompetence

Hear a discussion with two financial analysts who tried to sound the alarm about Bernie Madoff's activities but were ignored by your federal government.

Madoff often bragged about his cozy relationship with regulators... (which allowed him to do whatever he wanted). Many of the holes in the financial regulatory system still remain. And it's a symptom of a wider problem of corruption in government that Americans have not only grown to tolerate, but to expect. There was the muzzling of Brooksley Born, former chair of the Commodity Futures Trading Commission who tried to warn the nation about a looming financial crisis; The FDA being corrupted and controlled by the drug companies; and even oil industry execs openly providing gifts & having sex with federal regulators from the Interior Department in exchange for less stringent oversight.

Excellent Week In Review Discussion from NPR

Hear On Point's week in review discussion from this weekend. Panel included Trudy Rubin, Clarence Page, and Jack Beatty.

They covered just about everything... including Obama's falling support, the death of Healthcare Reform, the gridlocked and completely dysfunctional Congress, and the public's misplaced anger. They didn't go far enough though...they seemed scared to say that the Country is screwed. With voters set to return Republicans to power, America's decline will continue.

Many Could Face Years of Unemployment

A New York Times article calls them "The New Poor".

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