We don’t have elections anymore, we have popularity contests with constant reporting on the amounts of campaign cash a candidate has raised, and who raised the most. Basically, it amounts to the candidate with the most money, is the one Wall Street, the top 1%; and the major corporations are backing. You know this candidate is never for the ‘common good’ but instead is going to cover Wall Street’s back if elected.
After the New Hampshire primary, Mark Shields syndicated columnist said the biggest difference he’s seen in this election since the Citizens United ruling is that “money is king”. It was reported that Rick Santorum did poorly in the New Hampshire primary because he couldn’t afford TV ads. During the week of the South Carolina primary Mitt Romney went from being in first place to Newt Gingrich being in first place. When Gwen Ifill asked voters what prompted them to change their minds, they couldn’t pinpoint any specific reasons. David Brooks, columnist for the NY Times, said, all those ads have absolutely no influence on voters.
Once again as in all issues the line is drawn, either you believe the TV ads or you don’t. Mark Shields said “when Jim Lehrer used to host the debates he would go out beforehand and tell the audience, no yelling or screaming and no applauding. And if it happens, I'm going to put the camera right on you and humiliate you.”
The Romans used to say “give them bread and circuses”, now we don’t even get the bread, we get the orchestrated media circus of these pep rallies fixed with ringers in the crowd, all conveniently camouflaged as intellectual debates. These present day examples of ‘The Greatest Show on Earth’ just goes to prove that P.T. Barnum was right, even today there’s “a sucker born every minute”.
Monday, January 23, 2012
Sunday, January 22, 2012
Policing Battle Ground USA
Hypocrisy is in the news a lot lately. Unfortunately most of it relates to the sex life of Newt Gingrich and not the real hypocritical issues, such as states having rights. Republicans contend that states have rights and should decide for themselves whether or not they have to comply with the mandatory purchase of health insurance.
In Vermont, the state legislature passed a law prohibiting pharmacies from selling prescription information to pharmaceutical corporations. The view of the state is that the prescribing information belongs to the physician and the physician has the right to decide whether or not to sell this information. The Supreme Court over ruled the state, saying the decision violated free speech.
The people in the state of California voted to ban sale of violent video games to anyone under 18. The Supreme Court over ruled the voters and tossed out the state mandate.
When the state of Georgia passed laws protecting citizens from unethical lending practices, the federal government over ruled them, saying federal laws prevailed over state laws.
In matters of corporations and banks the federal government decides. With the federal government outsourcing our wars to military contractors, and the SJC’s allegiance to the rights of corporations over states, declaring the US a battleground is all the more disconcerting. Will the federal government over rule the states to team up with corporations as a means of policing the new battleground USA?
Where is the Republican outcry against this assault on laws protecting states from the unconstitutionality of military law imposed by the federal government?
And this is not to be construed as a defense for Democrats, they’ve been silent on this abominable declaration that the US is now a battlefield, it’s just easier to point out Republican hypocrisy on this issue.
In the end, both Republicans and Democrats are paid off to support military contractors along with the collusion of the federal government with corporations as a means of providing services, including policing the streets of America; building prisons and using the police to fill them to capacity and beyond.
In Vermont, the state legislature passed a law prohibiting pharmacies from selling prescription information to pharmaceutical corporations. The view of the state is that the prescribing information belongs to the physician and the physician has the right to decide whether or not to sell this information. The Supreme Court over ruled the state, saying the decision violated free speech.
The people in the state of California voted to ban sale of violent video games to anyone under 18. The Supreme Court over ruled the voters and tossed out the state mandate.
When the state of Georgia passed laws protecting citizens from unethical lending practices, the federal government over ruled them, saying federal laws prevailed over state laws.
In matters of corporations and banks the federal government decides. With the federal government outsourcing our wars to military contractors, and the SJC’s allegiance to the rights of corporations over states, declaring the US a battleground is all the more disconcerting. Will the federal government over rule the states to team up with corporations as a means of policing the new battleground USA?
Where is the Republican outcry against this assault on laws protecting states from the unconstitutionality of military law imposed by the federal government?
And this is not to be construed as a defense for Democrats, they’ve been silent on this abominable declaration that the US is now a battlefield, it’s just easier to point out Republican hypocrisy on this issue.
In the end, both Republicans and Democrats are paid off to support military contractors along with the collusion of the federal government with corporations as a means of providing services, including policing the streets of America; building prisons and using the police to fill them to capacity and beyond.
Wednesday, January 18, 2012
Individualism vs. Collective Monopoly
Milton Friedman argued that reducing the government and lowering taxes kept inequality from rising, and helped the poor more than social programs ever could.
Hard to believe considering the Nation magazine reports the collective wealth of the bottom third of Americans is barely hovering above the poverty line. One in three Americans either lives in poverty or is one broken leg away from it. Friedman also argued as a nation of self reliant individuals, too many government regulations and social programs like those in the New Deal, led to the struggle between individualism vs. collectivism.
For decades the monopolies who make up the “collective” few have campaigned to eliminate equality of opportunity for individuals by convincing us, the public, that without steadfast devotion to the “unfettered free market”, our liberties and freedoms would disappear.
However it seems the opposite has happened. With fewer laws and less regulations, millions of Americans have become poorer and powerless against the “collective few“. With millions ending up with less economic freedoms, fewer liberties and no political influence, the inequality of wealth has become glaringly obscene, unconscionable, and downright cruel.
Adam Smith, proponent of the free market, believed rules were necessary to reign in the crookedness of human nature. Smith said, even though it’s unlikely that members of the same trade speak together, the conversation usually ends up in a conspiracy against the public.
Sunday, January 8, 2012
Who is ALEC?
Who’s writing the laws? ALEC, the American Legislative Exchange Council, is writing the laws. ALEC is described in the Nation magazine as “the Nation’s largest, non-partisan, individual public private membership association of state legislators” and is made up of 2,000 legislators and 300 corporate members.
The Washington Spectator reports ALEC is the single largest source of pro-corporate anti-regulatory legislation in the country, and describes them as a “corporate funded corporate bill-mill, cross dressing as an association of state legislators.” The Nation wrote ”dozens of corporations are investing millions of dollars a year to write business-friendly legislation that is being made into law in statehouses coast to coast, with no regard to the public interest” says Bob Edgar of Common Cause.”
According to the Washington Spectator, ALEC was founded in 1973 by a small right wing group of activists and elected officials such as Paul Weyrich, who with help from brewing magnate Joseph Coors, set up the Heritage Foundation. Buz Lukens another founder lost his seat in 1990 after being convicted of paying a 16 year old girl for sex. And Woody Jenkins whose campaign commission paid a fine for filing false disclosure forms while Tony Perkins (now director of the Christian right Family Research Council) was his campaign manager.
The Nation also reports bills introduced in Virginia, Maryland, Arizona, Kansas, Oregon, Illinois and South Carolina, mirror the ALEC model’s with some state’s bill coming directly from ALEC written legislation. Stacks of new ALEC inspired laws passed in Ohio and Wisconsin with both governors former ALEC alums. Voter ID is an ALEC agenda with 33 states introducing voter ID laws. And the Nation magazine states-“Corporate donors retain veto power over the language, which is developed by the secretive task forces”.
The Spectator lists some of the corporations supporting ALEC as Koch Industries; Exxon-Mobil; Wal-Mart; AT&T Services; and GlaxoSmithKline. ALEC’s private enterprise board includes Exxon-Mobil; Koch Industries; Entergy, and Peabody Coal.
Between the secretive writing of legislation and the legalized corporate ownership of politicians, thanks to Supreme Court‘s Citizens United ruling, it seems pretty well sewn up to be a corporate government against the people. Real issues affecting the lives of everyday Americans will not be addressed by any politician; their corporate masters won‘t allow it. The problem is, with all the corporate money being paid to buy the politicians, and pay the media to overlook; spin & whitewash the issues, most people see only the PR spin, and are hoodwinked… they buy it “hook, line and sinker“, and even clamor for more of the same.
The Washington Spectator reports ALEC is the single largest source of pro-corporate anti-regulatory legislation in the country, and describes them as a “corporate funded corporate bill-mill, cross dressing as an association of state legislators.” The Nation wrote ”dozens of corporations are investing millions of dollars a year to write business-friendly legislation that is being made into law in statehouses coast to coast, with no regard to the public interest” says Bob Edgar of Common Cause.”
According to the Washington Spectator, ALEC was founded in 1973 by a small right wing group of activists and elected officials such as Paul Weyrich, who with help from brewing magnate Joseph Coors, set up the Heritage Foundation. Buz Lukens another founder lost his seat in 1990 after being convicted of paying a 16 year old girl for sex. And Woody Jenkins whose campaign commission paid a fine for filing false disclosure forms while Tony Perkins (now director of the Christian right Family Research Council) was his campaign manager.
The Nation also reports bills introduced in Virginia, Maryland, Arizona, Kansas, Oregon, Illinois and South Carolina, mirror the ALEC model’s with some state’s bill coming directly from ALEC written legislation. Stacks of new ALEC inspired laws passed in Ohio and Wisconsin with both governors former ALEC alums. Voter ID is an ALEC agenda with 33 states introducing voter ID laws. And the Nation magazine states-“Corporate donors retain veto power over the language, which is developed by the secretive task forces”.
The Spectator lists some of the corporations supporting ALEC as Koch Industries; Exxon-Mobil; Wal-Mart; AT&T Services; and GlaxoSmithKline. ALEC’s private enterprise board includes Exxon-Mobil; Koch Industries; Entergy, and Peabody Coal.
Between the secretive writing of legislation and the legalized corporate ownership of politicians, thanks to Supreme Court‘s Citizens United ruling, it seems pretty well sewn up to be a corporate government against the people. Real issues affecting the lives of everyday Americans will not be addressed by any politician; their corporate masters won‘t allow it. The problem is, with all the corporate money being paid to buy the politicians, and pay the media to overlook; spin & whitewash the issues, most people see only the PR spin, and are hoodwinked… they buy it “hook, line and sinker“, and even clamor for more of the same.
Tuesday, December 20, 2011
Holiday for the People
In this season of peace on earth and good will towards men, how about some forgiveness, like mortgage reductions for citizens? The banks were forgiven with no questions asked, yet citizens who paid to forgive receive no such mortgage debt forgiveness themselves.
Neither the banks nor the Obama administration are willing to reduce underwater mortgages as a solution to the housing crisis. “The government has been sheltering banks from facing the hard truth about their condition. They may be valuing mortgages or mortgage bonds at say, 85 cents on the dollar, when the true market value, industry experts say, is closer to 25 or 30 cents. …if many of the loans aren’t ever going to be repaid, then the assets now claimed by the bank are imaginary.”
Real people aren’t having imaginary difficulties being underwater. Modification of mortgages along with interest reduction would greatly boost the economy.
As housing prices continue to decrease, it increases the number of mortgages under water. This flood of bad debt has to be reduced or the economy will not recover.
The current financial system is such a wicked web of deceit and moral degeneration that modifying mortgages would mean “The banks would have to report reduced capital…” and “This could threaten the solvency of some of the very large banks-those that have exaggerated their financial condition, as many market analysts and shareholders suspect.”
Let’s have a bank holiday in this holiday season. As former banker Rob Johnson said, “These institutions are so intertwined they are a system. You can’t deal with one bank alone; you have to deal with the system. You call a month long bank holiday for the twenty largest banks, and that holds everything in place while the regulators mark down the assets and see how everybody’s losses will affect everyone else.
“Then you wipe out stockholders, wipe out management, possibly some of the unsecured debt. Mortgages would be refinanced based on real value. Once everybody has taken their hit and you’ve wiped out existing stockholders, then the government comes in and properly, transparently recapitalizes all of them. As these new institutions gain a footing, eventually they can be sold back to the private market.” “This is rough stuff, but the nation could get a fresh start and a new, more honest banking system out of the hard knocks.”
The people cannot be the victims three times here; once by the banks betting against itself with our houses and savings at risk; second by the government bailing out the banks with our tax dollars “no questions asked,” and now the third hit by the banks who are responsible for the whole mess to begin with, refusing to adjust the house value which they manipulated to be over priced in the first place.
Let’s face it, if America wants to be considered the ‘best’ country in the world, the country that all others strive to emulate, then it should start by being honest and truthful with it’s constituents. Otherwise, we become just like the other failed countries where its politicians and bankers have sucked the life out of it’s population, some of the very countries where we’ve sent our military might to depose those in power, to change it to where the government serves the people. The bankers and their politician minions at their beck and call have no reason to believe that it can’t happen here as well.
Note-All quotes are from the article in The Nation magazine-”Debt Jubilee, American Style” by William Greider.
Neither the banks nor the Obama administration are willing to reduce underwater mortgages as a solution to the housing crisis. “The government has been sheltering banks from facing the hard truth about their condition. They may be valuing mortgages or mortgage bonds at say, 85 cents on the dollar, when the true market value, industry experts say, is closer to 25 or 30 cents. …if many of the loans aren’t ever going to be repaid, then the assets now claimed by the bank are imaginary.”
Real people aren’t having imaginary difficulties being underwater. Modification of mortgages along with interest reduction would greatly boost the economy.
As housing prices continue to decrease, it increases the number of mortgages under water. This flood of bad debt has to be reduced or the economy will not recover.
The current financial system is such a wicked web of deceit and moral degeneration that modifying mortgages would mean “The banks would have to report reduced capital…” and “This could threaten the solvency of some of the very large banks-those that have exaggerated their financial condition, as many market analysts and shareholders suspect.”
Let’s have a bank holiday in this holiday season. As former banker Rob Johnson said, “These institutions are so intertwined they are a system. You can’t deal with one bank alone; you have to deal with the system. You call a month long bank holiday for the twenty largest banks, and that holds everything in place while the regulators mark down the assets and see how everybody’s losses will affect everyone else.
“Then you wipe out stockholders, wipe out management, possibly some of the unsecured debt. Mortgages would be refinanced based on real value. Once everybody has taken their hit and you’ve wiped out existing stockholders, then the government comes in and properly, transparently recapitalizes all of them. As these new institutions gain a footing, eventually they can be sold back to the private market.” “This is rough stuff, but the nation could get a fresh start and a new, more honest banking system out of the hard knocks.”
The people cannot be the victims three times here; once by the banks betting against itself with our houses and savings at risk; second by the government bailing out the banks with our tax dollars “no questions asked,” and now the third hit by the banks who are responsible for the whole mess to begin with, refusing to adjust the house value which they manipulated to be over priced in the first place.
Let’s face it, if America wants to be considered the ‘best’ country in the world, the country that all others strive to emulate, then it should start by being honest and truthful with it’s constituents. Otherwise, we become just like the other failed countries where its politicians and bankers have sucked the life out of it’s population, some of the very countries where we’ve sent our military might to depose those in power, to change it to where the government serves the people. The bankers and their politician minions at their beck and call have no reason to believe that it can’t happen here as well.
Note-All quotes are from the article in The Nation magazine-”Debt Jubilee, American Style” by William Greider.
Monday, December 12, 2011
Is the Messenger Transparent?
Senator Kay Bailey Hutchinson doesn’t want to enforce the Consumer Financial Protection Board due to concerns over the agency’s transparency and the dictatorial power of the agency’s director, stating, “we are so worried about the overkill in this. We have prudential regulators in the banking and lending industries now. That has been cleaned up. We have the comptroller. We have the Fed. We have the FDIC. Another layer of bureaucracy is going to cost consumers more, and it's not going to be more protective.”
Bloomberg News reporter Bob Ivry who wrote the story on the Fed’s lending trillions to banks said,-“What we're really taking a look at is what happened afterwards and the secrecy that surrounded the loans that they made during this time. They kept that -- they kept the details of the lending from the folks at Treasury who put together TARP. And they -- and nobody that we spoke with, the senators or congressmembers, knew anything about the details of the Fed lending when they were debating and ultimately passed the Dodd-Frank legislation.”
The Federal Reserve was operating in secrecy and with no oversight but now the Senator and her colleagues are worried about the CFPB. The Bloomberg new report also found “ that banks had potentially profited from the emergency lending programs by some $13 billion dollars and the Fed had spared them a measure of scrutiny that might have led to stricter reforms on the industry.”
Even if this legislation is tepid, Senator Hutchinson is sending the message only consumer protection agencies need scrutiny and reforms, but it’s OK for the central bank and all the other banks to operate in secrecy with no oversight.
Bloomberg News reporter Bob Ivry who wrote the story on the Fed’s lending trillions to banks said,-“What we're really taking a look at is what happened afterwards and the secrecy that surrounded the loans that they made during this time. They kept that -- they kept the details of the lending from the folks at Treasury who put together TARP. And they -- and nobody that we spoke with, the senators or congressmembers, knew anything about the details of the Fed lending when they were debating and ultimately passed the Dodd-Frank legislation.”
The Federal Reserve was operating in secrecy and with no oversight but now the Senator and her colleagues are worried about the CFPB. The Bloomberg new report also found “ that banks had potentially profited from the emergency lending programs by some $13 billion dollars and the Fed had spared them a measure of scrutiny that might have led to stricter reforms on the industry.”
Even if this legislation is tepid, Senator Hutchinson is sending the message only consumer protection agencies need scrutiny and reforms, but it’s OK for the central bank and all the other banks to operate in secrecy with no oversight.
Friday, December 2, 2011
Always blaming the people
The Founding Fathers believed a central bank was needed as a means of paying debts and to provide lending for economic growth. Machiavelli said man cannot resist that to which nature inclines. And yet, we commoners; the ’unclean masses’ are supposed to curtail our instincts and cut back on the necessities of life, while the fraudulent bankers who caused this rape of the economy are blameless. After all they’re in the business of making a profit, so who could blame them? Edmund Burke said “I do not know the method of drawing up an indictment against a whole people”.
Now the indictment is against whole peoples of the world because they retire too early, they charged too much on their credit cards or they bought houses they couldn’t afford. There’s too much debt and only austerity cuts can rescue the world.
But why is there an explosion of world wide debt? William Greider writes in the Nation magazine: “The austerity class ignored the massive housing and credit bubble, which more than any single factor contributed to the explosion of debt worldwide.”
Bank mathematicians and engineers and lawyers were the ones getting “creative” with the housing debt and turning home loans into mind boggling equations, which is what got us into this mess. But the solutions are easy, just blame the masses, cut workers and their pensions, while we bail out the crooks, cut their taxes, and guarantee them their fraudulent profit with our tax dollars. That’ll solve the debt crisis.
Now the indictment is against whole peoples of the world because they retire too early, they charged too much on their credit cards or they bought houses they couldn’t afford. There’s too much debt and only austerity cuts can rescue the world.
But why is there an explosion of world wide debt? William Greider writes in the Nation magazine: “The austerity class ignored the massive housing and credit bubble, which more than any single factor contributed to the explosion of debt worldwide.”
Bank mathematicians and engineers and lawyers were the ones getting “creative” with the housing debt and turning home loans into mind boggling equations, which is what got us into this mess. But the solutions are easy, just blame the masses, cut workers and their pensions, while we bail out the crooks, cut their taxes, and guarantee them their fraudulent profit with our tax dollars. That’ll solve the debt crisis.
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