David Love: Scrooge arrived just in time for the holidays, with Social Darwinism, bootstraps, slashing and cutting as a prescription for all our woes.
Robert Reich: Not only do we need extended unemployment benefits. We need a new WPA, modeled after the WPA of the Great Depression, to put jobless Americans to work. We need a national infrastructure bank to rebuild our crumbling highways and water and sewer systems, thereby putting additional people back to work.
Robert Reich: Obama shouldn’t be fooled into thinking Bill Clinton was reelected in 1996 because he moved to the center. I was there. Clinton was reelected because by then the economy had come roaring back to life.
Robert Reich: The perfect storm: An unprecedented concentration of income and wealth at the top; a record amount of secret money flooding our democracy; and a public becoming increasingly angry and cynical about a government that’s raising its taxes, reducing its services, and unable to get it back to work.
Eric Bauman of the Los Angeles County Democratic Party sent this video to remind us all that Election Day is around the corner and California has a clear choice to make. Says Bauman, “While Meg Whitman, Carly Fiorina and their Republican cronies hope to protect right-wing conservative special interests and their “friends” on Wall Street, Democrats are [...]
Robert Reich: So the race to the bottom is now official. Wall Street will set up its casino wherever financial gambling is least regulated.
Ted Vaill: President McCain has urged that the United Nations move its headquarters out of the U.S., and he has proposed that the U.S. leave the UN, which he calls “useless and corrupt”. He also has refused to meet with most foreign leaders in the White House, or to travel abroad, except for heavily guarded and secret trips to Iraq and Afghanistan.
Robert Reich: Average Americans are hurting. But their pain isn’t coming from government. It’s coming from an economy whose benefits are concentrating ever more at the top, whose giant corporations are controlling ever more of our democratic process, and whose costs and risks are becoming ever more burdensome for the middle class and the poor
Robert Reich: Whatever the outcome of the upcoming midterm elections, the activist phase of the Obama administration has likely come to a close. The President may have a fight on his hands even to hold on to what he’s already achieved because his legislative successes have been large enough to fuel strong opposition but not big enough to strengthen his support. The result could be disastrous for him and congressional Democrats.
Robert Reich: Higher corporate profits no longer lead to higher employment. We’re witnessing a great decoupling of company profits from jobs.
Jim Fuller: Take it from a guy who spent decades reporting for magazines and major newspapers on both government agencies and businesses of all sizes, up to and including giant international corporations: You seldom will encounter a government bureaucracy as inefficient and hidebound as that of a typical giant corporation, nor will you ever run into a government bureaucrat so out of touch with the world most of us live in as anyone who lives within the top four or five layers of corporate leadership.
Robert Reich: The biggest ongoing threats are chronic recession or even deflation, because consumers don’t have enough money to what the economy is capable of selling at full or near-full employment. Despite gains in productivity, little has trickled down to America’s middle class.
Robert Reich: Americans have no choice but to pare back their debt. That’s bad news because consumer spending is 70 percent of the economy. It helps explain why we so few jobs are being created, and why we can’t escape the gravitational pull of the Great Recession without far more government spending.
Friday Feedback: Obama’s all talk and no action on the oil gusher because his job is to usher in the new era of Plutocracy for the United States. His words are designed to appease us long enough for the Masters of the Universe to take complete control over our government.