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Archive for the ‘Economy’

Hamilton to Reagan – What now?

May 14, 2009 By: Ken Nicholson Category: Economy No Comments →

Alexander Hamilton’s Advice To The Obama Administration

by Thom Hartmann

This is what we need to get back to. This also circumvents the socialism issue, about which no one here seems to have a clue.

Alexander Hamilton, in 1791, proposed to the United States our first true industrial policy. We adopted it over the next few years, Abraham Lincoln reaffirmed it fourscore years later, and it was again affirmed by every President of the United States until Reagan began his now-28-year “Reagan Revolution” which has disassembled America’s industrial base and impoverished our nation. For over 200 years, Hamilton’s policy made America the most powerful industrial nation in the world; now – after just 28 years of Reagonomics and Clinton/Rubinomics – we are the largest importer of other people’s industry, and the most indebted nation in the world.
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Piddle in the Middle

February 09, 2009 By: Ken Nicholson Category: Economy, Politics No Comments →

What the Centrists Have Wrought

by Paul Krugman

I’m still working on the numbers, but I’ve gotten a fair number of requests for comment on the Senate version of the stimulus.

The short answer: to appease the centrists, a plan that was already too small and too focused on ineffective tax cuts has been made significantly smaller, and even more focused on tax cuts.

According to the CBO’s estimates, we’re facing an output shortfall of almost 14% of GDP over the next two years, or around $2 trillion. Others, such as Goldman Sachs, are even more pessimistic. So the original $800 billion plan was too small, especially because a substantial share consisted of tax cuts that probably would have added little to demand. The plan should have been at least 50% larger. (more…)

Limbaugh Dilutes Support For Stimulus

February 05, 2009 By: Ken Nicholson Category: Economy, Political 1 Comment →

Comedian and Republican spokesperson, Rush Limbaugh, has come out hard against the proposed stimulus package and according to a CBS poll, he just might be having an effect.

Slightly more than half the country approves of President Obama’s $800 billion-plus stimulus package, a new CBS News poll finds. But support for the bill has fallen 12 points since January, and nearly half of those surveyed do not believe it will shorten the recession.  Feb-05-09  Source:  CBS News

Limbaugh, a proponent of the discredited “supply side” and “trickle down” economic theories of Milton Friedman has often criticized the job creating programs embedded in the stimulus program  of  the Democratic administration.


Time for a Revolution

January 05, 2009 By: Ken Nicholson Category: Economy, Evil Corporations, Government No Comments →

Why our political system remains corrupt

It is said that our government is subject to a revolution every two years with a new congress, but this is an illusion.  The reality is that the House and Senate are a high stakes poker game with an enormous entrance fee.

“Pay to play” is the death of our democracy and is endemic in our political system. Few politicians can resist the temptation to accept money or favors in exchange for a vote. No politician within this system is likely to risk trying to change the system.

Thomas Jefferson said that every government needs a revolution every once in a while. Our last revolution was the return to a laissez faire or a free market economy in the early 80s. Its failure, the second in 80 years, was predictable.

The New Deal worked for everybody but the robber barons and it is time we gave it another chance.  It is time for citizens to hold their elected official’s collective feet to the fire.

10 Reasons to be Hopeful about 2009, and 3 Reasons to be Terrified

January 03, 2009 By: Republished Category: Economy, Society No Comments →

by Sarah van Gelder

We’re entering a new year at a time unlike any other in recent memory. Here are 10 reasons I’m filled with hope as I look ahead at 2009—and three reasons I’m terrified.

  1. Young people are stepping up. They know that they formed the backbone of Barack Obama’s presidential campaign and that their work infused the country with the “Yes, we can” spirit. Now that these young people know what success feels like, many will be in it for the long haul [1].
  2. Election protection is working. Grassroots vigilance, successful lawsuits, and media exposure are making voter suppression efforts [2]less successful. More remains to be done, but the trends are in the right direction. (One terrifying note, though, is the death in a December 19 plane crash of GOP IT expert Michael Connell [3], who many believe was poised to reveal secrets related to vote stealing.)
  3. There is now overwhelming support for universal health care [4]. This grassroots commitment coupled with Obama’s leadership could make this the year when we finally overcome the roadblocks big insurance and drug corporations have placed in the way of progress. A majority of Americans favor a tax-supported single-payer system [5] like Canada’s. The Obama plan, [6] while it’s not single-payer, is nonetheless a good plan—as long as it retains the option for all Americans to join a public health insurance plan [6]. (more…)

Disaster Capitalism

December 18, 2008 By: Republished Category: Economy, Evil Corporations, Government 2 Comments →

by Paul B. Farrell

Global Research, November 7, 2008

ARROYO GRANDE, Calif. (MarketWatch) — Yes, we’re dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We’re obsessed about the slogans and rituals of “democracy,” distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who’s president.

Why? The real “game changer” already happened. Democracy has been replaced by Wall Street’s new “disaster capitalism.” That’s the big game-changer historians will remember about 2008, masterminded by Wall Street’s ultimate “Trojan Horse,” Hank Paulson. Imagine: Greed, arrogance and incompetence create a massive bubble, cost trillions, and still Wall Street comes out smelling like roses, richer and more powerful!

Yes, we’re idiots: While distracted by the “illusion of democracy” in the endless campaign, Congress surrendered the powers we entrusted to it with very little fight. Congress simply handed over voting power and the keys to trillions in the Treasury to Wall Street’s new “Disaster Capitalists” who now control “democracy.”Why did this happen? We’re in denial, clueless wimps, that’s why. We let it happen. In one generation America has been transformed from a democracy into a strange new form of government, “Disaster Capitalism.” Here’s how it happened: (more…)

Who is Karl Rove Calling a Whiner?

July 22, 2008 By: Ken Nicholson Category: Business, Economy, Evil Corporations, Politics No Comments →

It amazes me to hear what I assume to be working class people working hard for their money calling other working class people “whiners” when they speak up in outrage over getting the shaft from giant corporations who can’t cover their losses for high-rate loans they made to low income people caught up in our tanking economy.

Fanny May and Freddie Mac are sub-prime lenders of money to high-risk people who would not otherwise be able to qualify for a loan to buy a house. They were originally funded by the government so that they could cover eventual losses due to the fluctuating market and to the risk involved. This is called “welfare,” corporate welfare. I also think it was a good idea to give poor families the opportunity to buy a home and to start accumulating wealth.

Now Fanny May and Freddie Mac are whining to the government to bail them out, because they were too shortsighted to put enough money aside, even with the high interest rates they charged their customers. Instead they pocketed the profits and underfunded their coverage.

If the government is brash enough to bail them out, as they invariably do with bank and oil companies that are in trouble, the profits are privatized by the rich corporations and the losses are socialized and handed down to the taxpayer.

Instead of complaining about poor people who are rightly complaining about their crappy situation, you should all be outraged at our government for screwing us all to the benefit of the rich. Karl Rove is an evil man and a criminal who should be imprisoned.

Nicholson

Oil Scarcity?

July 14, 2008 By: Ken Nicholson Category: Business, Economy, Evil Corporations No Comments →

As Oil Firms Seek Drilling Access, Exports Set Record
By Reuters
Reuters
| 03 Jul 2008 | 03:23 PM ET

While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, U.S.-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska’s Arctic National Wildlife Refuge to drilling. (more…)

Substance Abuse Forum

July 01, 2008 By: Ken Nicholson Category: Community, Economy, Evil Corporations, Health, Society No Comments →

The following are my notes from the Forum on Substance Abuse held by the Otero County New Mexico Chapter of PDA June 25th – Ken Nicholson

The Otero County chapter of Progressive Democrats of America hosted a panel discussion on the substance abuse situation in the county. Panel members Dr. Gil Heredia, physician and chair of the Otero Libertarian Party, Sharon Hodges of the New Mexico Department of Health, and Ken Larson, Certified Peer Specialist and Recovery Mentor presented a comprehensive survey of the drug problems we are facing in Otero County to an interested audience of local activists. Al Kissling of PDA NM was the moderator.

Dr. Heredia said that the so called “War on Drugs” was having a more devastating effect on our community than the actual use of drugs. He cited the emphasis of the drug war being on law enforcement and leading to incarceration rather than treatment and rehabilitation. When those caught in the system have finished their time, they are released back into the community, still addicted, without the root of their situation being addressed. Heredia noted the high cost of incarceration versus treatment. Also, drug crimes are crimes against oneself and not directly against the community. He said that if drugs were legal, market forces would pressure dealer profits, and the supply of drugs would dwindle. One community activist added that the prison industry has lobbied for mandatory minimum sentences to the benefit of the private prison industry while removing judges’ discretion. (more…)

Corporate Crime vs. Street Crime

December 31, 2007 By: Ken Nicholson Category: Business, Economy No Comments →

Russell Mokhiber, editor of Corporate Crime Reporter to the Taming the Giant Corporation conference in Washington, D.C., June 9, 2007.Whether in bodies or injuries or dollars lost, corporate crime and violence wins by a landslide.

The FBI estimates, for example, that burglary and robbery — street crimes — costs the nation $3.8 billion a year.

The losses from a handful of major corporate frauds — Tyco, Adelphia, Worldcom, Enron — swamp the losses from all street robberies and burglaries combined.

Health care fraud alone costs Americans $100 billion to $400 billion a year. (more…)