Obama’s “Fireside Chat” (FDR or Jimmy Carter?)

Joseph Palermo: Tuesday night President Obama explained how his administration is going to respond to the most devastating human-made ecological catastrophe in the nation’s history. But he apparently doesn’t recognize how overwhelmingly popular it would be right now with the American people if he came out swinging against the malefactors of great corporate wealth like BP (or Goldman Sachs).

Glenn Beck: “Historian” for a Troubled America

glenn beck water on moon

Joseph Palermo: The wide dissemination of Beck’s views wouldn’t matter much if the United States were in better shape today. But the status quo that is emerging cannot help but create a highly volatile electorate for years to come. Class lines are hardening, mobility is stifled, unemployment will remain near double digits for many years, there is a sea of angry voters who are susceptible to jingoistic appeals and conspiracy theories (like the ones Beck promotes). The ongoing fiscal crisis at the local, state, and federal levels has led to the heartless rollback of public institutions at exactly the time when they are needed the most.

The Recent Press and E.F. Schumacher’s Warnings

E.F. Schumacher

Walter Moss: Having just completed research on economist and environmentalist E. F. Schumacher (1911-1977), I have been struck by how relevant many of his warnings are to today’s events. Although I don’t necessarily agree with everything he wrote, his comments are well worth considering as we struggle to deal with all our complex problems.

Financial Reform Too Small to Succeed

wall street reform

Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.

And Carter Thought He Faced National Malaise

Joseph Palermo: The spectacle of British Petroleum literally killing off the Gulf of Mexico before our eyes while the Obama Administration apparently believes that BP is honorable enough to be trusted to dutifully clean it up is depressing beyond belief. Hearing Louisiana Governor Bobby Jindal complain about the lagging federal response after he built his political career trashing the federal government is just too pathetic and stupid to even bother to ridicule.

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