Farmer in Chief
By MICHAEL POLLAN
It may surprise you to learn that among the issues that will occupy much of your time in the coming years is one you barely mentioned during the campaign: food. Food policy is not something American presidents have had to give much thought to, at least since the Nixon administration — the last time high food prices presented a serious political peril. Since then, federal policies to promote maximum production of the commodity crops (corn, soybeans, wheat and rice) from which most of our supermarket foods are derived have succeeded impressively in keeping prices low and food more or less off the national political agenda. But with a suddenness that has taken us all by surprise, the era of cheap and abundant food appears to be drawing to a close. What this means is that you, like so many other leaders through history, will find yourself confronting the fact — so easy to overlook these past few years — that the health of a nation’s food system is a critical issue of national security. Food is about to demand your attention.
Complicating matters is the fact that the price and abundance of food are not the only problems we face; if they were, you could simply follow Nixon’s example, appoint a latter-day Earl Butz as your secretary of agriculture and instruct him or her to do whatever it takes to boost production. But there are reasons to think that the old approach won’t work this time around; for one thing, it depends on cheap energy that we can no longer count on. For another, expanding production of industrial agriculture today would require you to sacrifice important values on which you did campaign. Which brings me to the deeper reason you will need not simply to address food prices but to make the reform of the entire food system one of the highest priorities of your administration: unless you do, you will not be able to make significant progress on the health care crisis, energy independence or climate change. Unlike food, these are issues you did campaign on — but as you try to address them you will quickly discover that the way we currently grow, process and eat food in America goes to the heart of all three problems and will have to change if we hope to solve them. Let me explain.
Link to con.
Sunday, October 12, 2008
Thursday, October 09, 2008
Third-Party Blues
By Scott RitterRalph Nader is right: The two-party system is failing America. There isn’t time between now and Election Day to create a viable third-party candidate, and so the sad reality is one of two deeply flawed men, the byproduct of a deeply flawed political system, will serve as president for the next four or eight years. During the time before the election, both candidates will do their best to woo the American people.
Link
Charles targets GM crop giants in fiercest attack yet
In a provocative address to an Indian audience, the Prince echoes Gandhi with a stinging attack on 'commerce without morality'. Geoffrey Lean reports
It is less than two months since Prince Charles was on the receiving end of a fusillade of scientific, political and commentariat criticism for voicing, yet again, his concerns about GM crops and foods. He was widely accused of "ignorance" and "Luddism"; of being too rich to care about the hungry, and even of trying to increase sales of his own organic produce. It was put about that Gordon Brown was angered by his intervention.
Yet the Prince has responded by stepping up his campaign, making his most anti-GM speech yet, in delivering – by video – the Sir Albert Howard Memorial Lecture to the Indian pressure group Navdanya last Thursday. And he made it clear that he was going to continue. "The reason I keep sticking my 60-year-old head above an increasingly dangerous parapet is not because it is good for my health," he said " but precisely because I believe fundamentally that unless we work with nature, we will fail to restore the equilibrium we need in order to survive on this planet."
True to his word, he plunged straight into the most controversial and emotive of all the debates over GM crops and foods by highlighting the suicides of small farmers. Tens of thousands killed themselves in India after getting into debt. The suicides were occurring long before GM crops were introduced, but campaigners say that the technology has made things worse because the seeds are more expensive and have not increased yields to match.
Link to con.
In a provocative address to an Indian audience, the Prince echoes Gandhi with a stinging attack on 'commerce without morality'. Geoffrey Lean reports
It is less than two months since Prince Charles was on the receiving end of a fusillade of scientific, political and commentariat criticism for voicing, yet again, his concerns about GM crops and foods. He was widely accused of "ignorance" and "Luddism"; of being too rich to care about the hungry, and even of trying to increase sales of his own organic produce. It was put about that Gordon Brown was angered by his intervention.
Yet the Prince has responded by stepping up his campaign, making his most anti-GM speech yet, in delivering – by video – the Sir Albert Howard Memorial Lecture to the Indian pressure group Navdanya last Thursday. And he made it clear that he was going to continue. "The reason I keep sticking my 60-year-old head above an increasingly dangerous parapet is not because it is good for my health," he said " but precisely because I believe fundamentally that unless we work with nature, we will fail to restore the equilibrium we need in order to survive on this planet."
True to his word, he plunged straight into the most controversial and emotive of all the debates over GM crops and foods by highlighting the suicides of small farmers. Tens of thousands killed themselves in India after getting into debt. The suicides were occurring long before GM crops were introduced, but campaigners say that the technology has made things worse because the seeds are more expensive and have not increased yields to match.
Link to con.
Wednesday, October 08, 2008
Dennis Kucinich on the Democrats’ Bailout Betrayal
By Chris Hedges
The passing of the $850-billion bailout pulled the plug on the New Deal. The Great Society is now gasping for air, mortally wounded, coughing up blood. It will not recover. It was murdered by the Democratic Party.
We are on our own. And don’t expect any help from Barack Obama and Joe Biden, who lobbied hard for the bill and voted for it. Ignore their rhetoric. Look coldly at the ballots they cast against us. We, as citizens, have only a handful of representatives left in Washington, most of whom were left sputtering in rage and frustration on the House floor. The sad irony is that some of them were Republican.
“This was the largest single act of class warfare in the modern history of this country,” Rep. Dennis Kucinich, D-Ohio, who led the fight in the House against the bailout, told me by phone from Cleveland. “It is a direct attack on the American people’s ability to be able to stabilize their homes and their neighborhoods. This single vote will define the careers of everyone. We are back to taxation without representation, to markets that are openly rigged.”
“We buried the New Deal,” he said of the vote. “Instead of Democrats going back to classic New Deal economics where we prime the pump of the economy and start money circulating among the population through saving homes, creating jobs and building a new infrastructure, our leaders chose to accelerate the wealth of the nation upwards. They did so in a way that was destructive of free-market principles. They ripped away all the familiar moorings. We are in an uncharted sea where the traditional roles of the political parties are being switched. The Democrats have unfortunately become so enamored and beholden to Wall Street that we are not functioning to defend the economic interest of the broad base of the American people. It was up to the Republicans to protect not just a so-called free market but the American taxpayer and attempt to block this. This is an outrage. This was democracy’s Black Friday.”
Link to con.
By Chris Hedges
The passing of the $850-billion bailout pulled the plug on the New Deal. The Great Society is now gasping for air, mortally wounded, coughing up blood. It will not recover. It was murdered by the Democratic Party.
We are on our own. And don’t expect any help from Barack Obama and Joe Biden, who lobbied hard for the bill and voted for it. Ignore their rhetoric. Look coldly at the ballots they cast against us. We, as citizens, have only a handful of representatives left in Washington, most of whom were left sputtering in rage and frustration on the House floor. The sad irony is that some of them were Republican.
“This was the largest single act of class warfare in the modern history of this country,” Rep. Dennis Kucinich, D-Ohio, who led the fight in the House against the bailout, told me by phone from Cleveland. “It is a direct attack on the American people’s ability to be able to stabilize their homes and their neighborhoods. This single vote will define the careers of everyone. We are back to taxation without representation, to markets that are openly rigged.”
“We buried the New Deal,” he said of the vote. “Instead of Democrats going back to classic New Deal economics where we prime the pump of the economy and start money circulating among the population through saving homes, creating jobs and building a new infrastructure, our leaders chose to accelerate the wealth of the nation upwards. They did so in a way that was destructive of free-market principles. They ripped away all the familiar moorings. We are in an uncharted sea where the traditional roles of the political parties are being switched. The Democrats have unfortunately become so enamored and beholden to Wall Street that we are not functioning to defend the economic interest of the broad base of the American people. It was up to the Republicans to protect not just a so-called free market but the American taxpayer and attempt to block this. This is an outrage. This was democracy’s Black Friday.”
Link to con.
The Wounded Shark: ‘Good War’ Lost, But the Imperial Project Goes On
By Chris Floyd
Don’t tell Obama and McCain, but the war they are both counting on to make their bones as commander-in-chief — the “good war” in Afghanistan, which both men have pledged to expand — is already lost. Their joint strategy of pouring more troops, tanks, missiles and planes into the roaring fire — not to mention their intention to spread the war into Pakistan — will only lead to disaster.
Who says so? America’s biggest ally in the Afghan adventure: Great Britain. This week, two top figures in the British effort in Afghanistan — Sir Sherard Cowper-Coles, UK ambassador to Kabul, and Brigadier Mark Carleton-Smith, the senior British military commander in Afghanistan — both said that the war was “unwinnable,” and that continuing the current level of military operations there, much less expanding it, was a strategy “doomed to fail.”
The biggest headlines went to the comments by Cowper-Coles, whose frank assessment was quoted in a secret French diplomatic cable that was published by a muckraking French magazine last week. Cowper-Coles put it plainly:
The current situation is bad, the security situation is getting worse, so is corruption, and the government has lost all trust….The presence of the coalition, in particular its military presence, is part of the problem, not part of its solution. Foreign forces are the lifeline of a regime that would rapidly collapse without them. As such, they slow down and complicate a possible emergence from the crisis.
Link to con.
By Chris Floyd
Don’t tell Obama and McCain, but the war they are both counting on to make their bones as commander-in-chief — the “good war” in Afghanistan, which both men have pledged to expand — is already lost. Their joint strategy of pouring more troops, tanks, missiles and planes into the roaring fire — not to mention their intention to spread the war into Pakistan — will only lead to disaster.
Who says so? America’s biggest ally in the Afghan adventure: Great Britain. This week, two top figures in the British effort in Afghanistan — Sir Sherard Cowper-Coles, UK ambassador to Kabul, and Brigadier Mark Carleton-Smith, the senior British military commander in Afghanistan — both said that the war was “unwinnable,” and that continuing the current level of military operations there, much less expanding it, was a strategy “doomed to fail.”
The biggest headlines went to the comments by Cowper-Coles, whose frank assessment was quoted in a secret French diplomatic cable that was published by a muckraking French magazine last week. Cowper-Coles put it plainly:
The current situation is bad, the security situation is getting worse, so is corruption, and the government has lost all trust….The presence of the coalition, in particular its military presence, is part of the problem, not part of its solution. Foreign forces are the lifeline of a regime that would rapidly collapse without them. As such, they slow down and complicate a possible emergence from the crisis.
Link to con.
Thousands of Troops Are Deployed on U.S. Streets Ready to Carry Out "Crowd Control"
By Naomi Wolf, AlterNet.
Background: the First Brigade of the Third Infantry Division, three to four thousand soldiers, has been deployed in the United States as of October 1. Their stated mission is the form of crowd control they practiced in Iraq, subduing "unruly individuals," and the management of a national emergency. I am in Seattle and heard from the brother of one of the soldiers that they are engaged in exercises now. Amy Goodman reported that an Army spokesperson confirmed that they will have access to lethal and non lethal crowd control technologies and tanks.
George Bush struck down Posse Comitatus, thus making it legal for military to patrol the U.S. He has also legally established that in the "War on Terror," the U.S. is at war around the globe and thus the whole world is a battlefield. Thus the U.S. is also a battlefield.
He also led change to the 1807 Insurrection Act to give him far broader powers in the event of a loosely defined "insurrection" or many other "conditions" he has the power to identify. The Constitution allows the suspension of habeas corpus -- habeas corpus prevents us from being seized by the state and held without trial -- in the event of an "insurrection." With his own army force now, his power to call a group of protesters or angry voters "insurgents" staging an "insurrection" is strengthened.
Link to con.
By Naomi Wolf, AlterNet.
Background: the First Brigade of the Third Infantry Division, three to four thousand soldiers, has been deployed in the United States as of October 1. Their stated mission is the form of crowd control they practiced in Iraq, subduing "unruly individuals," and the management of a national emergency. I am in Seattle and heard from the brother of one of the soldiers that they are engaged in exercises now. Amy Goodman reported that an Army spokesperson confirmed that they will have access to lethal and non lethal crowd control technologies and tanks.
George Bush struck down Posse Comitatus, thus making it legal for military to patrol the U.S. He has also legally established that in the "War on Terror," the U.S. is at war around the globe and thus the whole world is a battlefield. Thus the U.S. is also a battlefield.
He also led change to the 1807 Insurrection Act to give him far broader powers in the event of a loosely defined "insurrection" or many other "conditions" he has the power to identify. The Constitution allows the suspension of habeas corpus -- habeas corpus prevents us from being seized by the state and held without trial -- in the event of an "insurrection." With his own army force now, his power to call a group of protesters or angry voters "insurgents" staging an "insurrection" is strengthened.
Link to con.
A Fool’s Paradise
By BOB HERBERT, NY Times
With less than a month left until Election Day, there is still time for the presidential candidates to focus with great intensity on what should be the most important issue of this campaign. It’s not just the economy, stupid — it’s jobs. The stock markets were rocked again on Monday, and the need to stabilize the financial system is obvious. But the U.S. economy is never going to be really healthy until the country figures out how to provide work at decent pay for all, or nearly all, of the men and women who want to work.
We’ve been living for years in a fool’s paradise atop a mountain of debt. The masters of the universe on Wall Street lost all sense of reason, no doubt. But most of us have been living above our means through the magic of easy credit, ever lower taxes, ever rising property values, stock market bubbles and the gift of denial, which we used to assure ourselves that the bills would never come due. We’ve even put our wars on a credit card.
The burden of debt for a typical middle-income family, earning about $45,000 a year, grew by a third in just the few years from 2001 to 2004, according to the Center for American Progress. The reason for this unsustainable added weight was the rising cost of such items as housing, higher education, health care and transportation at a time when wages grew only slightly or not at all.
Link to con.
By BOB HERBERT, NY Times
With less than a month left until Election Day, there is still time for the presidential candidates to focus with great intensity on what should be the most important issue of this campaign. It’s not just the economy, stupid — it’s jobs. The stock markets were rocked again on Monday, and the need to stabilize the financial system is obvious. But the U.S. economy is never going to be really healthy until the country figures out how to provide work at decent pay for all, or nearly all, of the men and women who want to work.
We’ve been living for years in a fool’s paradise atop a mountain of debt. The masters of the universe on Wall Street lost all sense of reason, no doubt. But most of us have been living above our means through the magic of easy credit, ever lower taxes, ever rising property values, stock market bubbles and the gift of denial, which we used to assure ourselves that the bills would never come due. We’ve even put our wars on a credit card.
The burden of debt for a typical middle-income family, earning about $45,000 a year, grew by a third in just the few years from 2001 to 2004, according to the Center for American Progress. The reason for this unsustainable added weight was the rising cost of such items as housing, higher education, health care and transportation at a time when wages grew only slightly or not at all.
Link to con.
(Check out the comments as well at the link to this snippet)
MCCAIN AND PALIN ARE INCITING VIOLENCE- REMEMBER YITZHAK RABIN, TAKE THEM SERIOUSLY
by Obamawitz
This is not just another scandal, or joke, or gaffe. Sarah Palin and John McCain are inciting violence, against Barack Obama and any of the millions of Americans who support his campaign. Anyone who is familiar with the recent history of Israel, and the assassination of Yitzhak Rabin by a right-wing extremist, will recognize the pattern. We must take this seriously, and make our protest against the McCain-Palin incitement to violence heard, before it is too late.
Sarah Palin's new punchline is calling Barack Obama a ""pal of terrorists."
It is easy to laugh, and to see this as yet another example of Sarah Palin's astonishing lack of knowledge and/or conscience--and it is that. But it's no laughing matter.
The United States is engaged in a "Global War On Terror."
Our policy--as advocated by Barack Obama as well as his opponents--is to attack not only terrorists, but states or organizations who harbor and support them.
In Virginia, you can see many license plates bearing the slogan "Fight Terror."
So it's very clear what Sarah Palin means when she calls Barack Obama a friend of terrorists. She's calling him an enemy. She's calling him a target. She's calling him someone who needs to be "taken out."
Don't kid yourselves. This is direct incitement to violence against Barack Obama, and against the millions of Americans who support his campaign to be our President.
Link to con.
MCCAIN AND PALIN ARE INCITING VIOLENCE- REMEMBER YITZHAK RABIN, TAKE THEM SERIOUSLY
by Obamawitz
This is not just another scandal, or joke, or gaffe. Sarah Palin and John McCain are inciting violence, against Barack Obama and any of the millions of Americans who support his campaign. Anyone who is familiar with the recent history of Israel, and the assassination of Yitzhak Rabin by a right-wing extremist, will recognize the pattern. We must take this seriously, and make our protest against the McCain-Palin incitement to violence heard, before it is too late.
Sarah Palin's new punchline is calling Barack Obama a ""pal of terrorists."
It is easy to laugh, and to see this as yet another example of Sarah Palin's astonishing lack of knowledge and/or conscience--and it is that. But it's no laughing matter.
The United States is engaged in a "Global War On Terror."
Our policy--as advocated by Barack Obama as well as his opponents--is to attack not only terrorists, but states or organizations who harbor and support them.
In Virginia, you can see many license plates bearing the slogan "Fight Terror."
So it's very clear what Sarah Palin means when she calls Barack Obama a friend of terrorists. She's calling him an enemy. She's calling him a target. She's calling him someone who needs to be "taken out."
Don't kid yourselves. This is direct incitement to violence against Barack Obama, and against the millions of Americans who support his campaign to be our President.
Link to con.
Palin’s Kind of Patriotism
By THOMAS L. FRIEDMAN, NY Times
Criticizing Sarah Palin is truly shooting fish in a barrel. But given the huge attention she is getting, you can’t just ignore what she has to say. And there was one thing she said in the debate with Joe Biden that really sticks in my craw. It was when she turned to Biden and declared: “You said recently that higher taxes or asking for higher taxes or paying higher taxes is patriotic. In the middle class of America, which is where Todd and I have been all of our lives, that’s not patriotic.”
What an awful statement. Palin defended the government’s $700 billion rescue plan. She defended the surge in Iraq, where her own son is now serving. She defended sending more troops to Afghanistan. And yet, at the same time, she declared that Americans who pay their fair share of taxes to support all those government-led endeavors should not be considered patriotic.
I only wish she had been asked: “Governor Palin, if paying taxes is not considered patriotic in your neighborhood, who is going to pay for the body armor that will protect your son in Iraq? Who is going to pay for the bailout you endorsed? If it isn’t from tax revenues, there are only two ways to pay for those big projects — printing more money or borrowing more money. Do you think borrowing money from China is more patriotic than raising it in taxes from Americans?” That is not putting America first. That is selling America first.
Link to con.
By THOMAS L. FRIEDMAN, NY Times
Criticizing Sarah Palin is truly shooting fish in a barrel. But given the huge attention she is getting, you can’t just ignore what she has to say. And there was one thing she said in the debate with Joe Biden that really sticks in my craw. It was when she turned to Biden and declared: “You said recently that higher taxes or asking for higher taxes or paying higher taxes is patriotic. In the middle class of America, which is where Todd and I have been all of our lives, that’s not patriotic.”
What an awful statement. Palin defended the government’s $700 billion rescue plan. She defended the surge in Iraq, where her own son is now serving. She defended sending more troops to Afghanistan. And yet, at the same time, she declared that Americans who pay their fair share of taxes to support all those government-led endeavors should not be considered patriotic.
I only wish she had been asked: “Governor Palin, if paying taxes is not considered patriotic in your neighborhood, who is going to pay for the body armor that will protect your son in Iraq? Who is going to pay for the bailout you endorsed? If it isn’t from tax revenues, there are only two ways to pay for those big projects — printing more money or borrowing more money. Do you think borrowing money from China is more patriotic than raising it in taxes from Americans?” That is not putting America first. That is selling America first.
Link to con.
Monday, October 06, 2008
End of the empire – The current financial crisis signals a global shift
By: George Ochenski
America’s citizens continued their broad revolt against the proposed $700 billion taxpayer bailout of Wall Street in a mass protest rarely seen in this country. The left, the right and the middle are howling in unison and in such numbers that the congressional website was overwhelmed on Monday when the House rejected the Bush administration’s bailout bill. Another vote is planned, but regardless of its success or failure one thing seems clear: America’s future will be much different from its past—and politicians of all stripes had best be rethinking our nation’s priorities, including the economic and geopolitical realities of our far-flung empire.
Here at home, most of the news surrounding the financial panic on Wall Street is totally focused on the “crisis” demanding immediate and large-scale action. But when articles examine what the American people are telling their congressional delegations, it’s quite a different story.
Overwhelmingly, the citizens are against the bailout for all the right reasons, including that they no longer believe the boy who cried wolf. Bush’s credibility is now so low that, despite personal lobbying by both the president and vice president, more members of their own party voted against the bill in the House than did Democrats. To their credit, Montana’s Democrat Sen. Jon Tester and Republican Rep. Denny Rehberg have both said they are against the measure because of what they’re hearing from Montanans and neither wants to be rushed into approving the enormously expensive plan pushed by the financial “experts”—many of whom are blamed for getting us into this mess in the first place.
Link to con.
By: George Ochenski
America’s citizens continued their broad revolt against the proposed $700 billion taxpayer bailout of Wall Street in a mass protest rarely seen in this country. The left, the right and the middle are howling in unison and in such numbers that the congressional website was overwhelmed on Monday when the House rejected the Bush administration’s bailout bill. Another vote is planned, but regardless of its success or failure one thing seems clear: America’s future will be much different from its past—and politicians of all stripes had best be rethinking our nation’s priorities, including the economic and geopolitical realities of our far-flung empire.
Here at home, most of the news surrounding the financial panic on Wall Street is totally focused on the “crisis” demanding immediate and large-scale action. But when articles examine what the American people are telling their congressional delegations, it’s quite a different story.
Overwhelmingly, the citizens are against the bailout for all the right reasons, including that they no longer believe the boy who cried wolf. Bush’s credibility is now so low that, despite personal lobbying by both the president and vice president, more members of their own party voted against the bill in the House than did Democrats. To their credit, Montana’s Democrat Sen. Jon Tester and Republican Rep. Denny Rehberg have both said they are against the measure because of what they’re hearing from Montanans and neither wants to be rushed into approving the enormously expensive plan pushed by the financial “experts”—many of whom are blamed for getting us into this mess in the first place.
Link to con.
Sunday, October 05, 2008
Bail Out the Homeowners!
Why Paulson's Plan is a Fraud
By PAUL CRAIG ROBERTS
Is the Paulson bailout itself as big a fraud as the leveraged subprime mortgages?
Yesterday, here on CounterPunch, I discussed the bailout as proposed and noted that the proposal cannot succeed if it impairs the US Treasury’s credit standing and/or the combination of mark-to-market and short-selling permits short-sellers to prosper by driving more financial institutions into bankruptcy.
A reader’s comment and an article by Yale professors Jonathan Kopell and William Goetzmann raise precisely this question of the fraudulence of the Paulson package.
As one reader put it,“We have debt at three different levels: personal household debt, financial sector debt and public debt. The first has swamped the second and now the second is being made to swamp the third. The attitude of our leaders is to do nothing about the first level of debt and to pretend that the third level of debt doesn't matter at all.”
The argument for the bailout is that the banks will be free of the troubled instruments and can resume lending and that the US Treasury will recover most of the bailout costs, because only a small percentage of the underlying mortgages are bad. Let’s examine this argument.
Link to con.
Why Paulson's Plan is a Fraud
By PAUL CRAIG ROBERTS
Is the Paulson bailout itself as big a fraud as the leveraged subprime mortgages?
Yesterday, here on CounterPunch, I discussed the bailout as proposed and noted that the proposal cannot succeed if it impairs the US Treasury’s credit standing and/or the combination of mark-to-market and short-selling permits short-sellers to prosper by driving more financial institutions into bankruptcy.
A reader’s comment and an article by Yale professors Jonathan Kopell and William Goetzmann raise precisely this question of the fraudulence of the Paulson package.
As one reader put it,“We have debt at three different levels: personal household debt, financial sector debt and public debt. The first has swamped the second and now the second is being made to swamp the third. The attitude of our leaders is to do nothing about the first level of debt and to pretend that the third level of debt doesn't matter at all.”
The argument for the bailout is that the banks will be free of the troubled instruments and can resume lending and that the US Treasury will recover most of the bailout costs, because only a small percentage of the underlying mortgages are bad. Let’s examine this argument.
Link to con.
The Bailout: How Capitalism Killed Democracy
By David Sirota, AlterNet.
The marriage of American capitalism and democracy has always been a Pamela Anderson and Tommy Lee affair -- stormy and erratic since its hasty wedding. But during the debate over a Wall Street bailout this week, we watched that matrimonial knot unwind into a tangled tale of terror.
As a financial crisis became a political panic, capitalism murdered democracy (ironically, while pursuing a vaguely socialist bailout). Only, unlike a typical horror story, the dead body wasn't hidden, it was dumped in the nation's public square.
The fiasco started, like most, with unreasonable demands. Under threat of financial meltdown, capitalism's corporate lobbyists asked our democracy to forsake its usual deliberations and hand over $700 billion of taxpayer money in less than a week.
Many were surprised when democracy responded with such valiant defiance. As television screens split between the floors of the stock exchange and the House of Representatives, lawmakers initially voted with their constituents and against the bailout. That's when this husband-and-wife argument escalated into a grisly crime of passion.
Link to con.
By David Sirota, AlterNet.
The marriage of American capitalism and democracy has always been a Pamela Anderson and Tommy Lee affair -- stormy and erratic since its hasty wedding. But during the debate over a Wall Street bailout this week, we watched that matrimonial knot unwind into a tangled tale of terror.
As a financial crisis became a political panic, capitalism murdered democracy (ironically, while pursuing a vaguely socialist bailout). Only, unlike a typical horror story, the dead body wasn't hidden, it was dumped in the nation's public square.
The fiasco started, like most, with unreasonable demands. Under threat of financial meltdown, capitalism's corporate lobbyists asked our democracy to forsake its usual deliberations and hand over $700 billion of taxpayer money in less than a week.
Many were surprised when democracy responded with such valiant defiance. As television screens split between the floors of the stock exchange and the House of Representatives, lawmakers initially voted with their constituents and against the bailout. That's when this husband-and-wife argument escalated into a grisly crime of passion.
Link to con.
Thursday, October 02, 2008
A shattering moment in America's fall from power
The global financial crisis will see the US falter in the same way the Soviet Union did when the Berlin Wall came down. The era of American dominance is over
Our gaze might be on the markets melting down, but the upheaval we are experiencing is more than a financial crisis, however large. Here is a historic geopolitical shift, in which the balance of power in the world is being altered irrevocably. The era of American global leadership, reaching back to the Second World War, is over.
You can see it in the way America's dominion has slipped away in its own backyard, with Venezuelan President Hugo Chávez taunting and ridiculing the superpower with impunity. Yet the setback of America's standing at the global level is even more striking. With the nationalisation of crucial parts of the financial system, the American free-market creed has self-destructed while countries that retained overall control of markets have been vindicated. In a change as far-reaching in its implications as the fall of the Soviet Union, an entire model of government and the economy has collapsed.
Ever since the end of the Cold War, successive American administrations have lectured other countries on the necessity of sound finance. Indonesia, Thailand, Argentina and several African states endured severe cuts in spending and deep recessions as the price of aid from the International Monetary Fund, which enforced the American orthodoxy. China in particular was hectored relentlessly on the weakness of its banking system. But China's success has been based on its consistent contempt for Western advice and it is not Chinese banks that are currently going bust. How symbolic yesterday that Chinese astronauts take a spacewalk while the US Treasury Secretary is on his knees.
Link to con.
The global financial crisis will see the US falter in the same way the Soviet Union did when the Berlin Wall came down. The era of American dominance is over
Our gaze might be on the markets melting down, but the upheaval we are experiencing is more than a financial crisis, however large. Here is a historic geopolitical shift, in which the balance of power in the world is being altered irrevocably. The era of American global leadership, reaching back to the Second World War, is over.
You can see it in the way America's dominion has slipped away in its own backyard, with Venezuelan President Hugo Chávez taunting and ridiculing the superpower with impunity. Yet the setback of America's standing at the global level is even more striking. With the nationalisation of crucial parts of the financial system, the American free-market creed has self-destructed while countries that retained overall control of markets have been vindicated. In a change as far-reaching in its implications as the fall of the Soviet Union, an entire model of government and the economy has collapsed.
Ever since the end of the Cold War, successive American administrations have lectured other countries on the necessity of sound finance. Indonesia, Thailand, Argentina and several African states endured severe cuts in spending and deep recessions as the price of aid from the International Monetary Fund, which enforced the American orthodoxy. China in particular was hectored relentlessly on the weakness of its banking system. But China's success has been based on its consistent contempt for Western advice and it is not Chinese banks that are currently going bust. How symbolic yesterday that Chinese astronauts take a spacewalk while the US Treasury Secretary is on his knees.
Link to con.
Orwell's Inspiration ... The G.O.P.
by Jon Faulkner
The meltdown of the U.S. Financial Industry, and its subsequent bailout by Congress, is a harbinger of a future when corporate forces will control the world’s resources and use them to control populations. Never, in U.S. history, have the People’s Representatives been so brazenly disloyal to their sworn pledge to hold the people’s interests above all others.
Congressional loyalty, with its constitutional oath of office, is today a quaint reminder of a bygone age. There was a time when Congressional Representatives were honored to stand up for their districts, their neighbors. Today‘s Congress is emptying the National Treasury. Dignity, honor, the truth be damned. Congress works for the ones who pay them. The people don't have enough money to expect their representatives to care about them.
That so many Americans regard today’s congressional debate as legitimate, speaks volumes. It should never occur to the financial sector to ask for money from taxpaying, honest Americans, and if Congress is asked, it should regard such a notion as laughable, or horrifying, depending on point of view. Such are the times.
Link to con.
by Jon Faulkner
The meltdown of the U.S. Financial Industry, and its subsequent bailout by Congress, is a harbinger of a future when corporate forces will control the world’s resources and use them to control populations. Never, in U.S. history, have the People’s Representatives been so brazenly disloyal to their sworn pledge to hold the people’s interests above all others.
Congressional loyalty, with its constitutional oath of office, is today a quaint reminder of a bygone age. There was a time when Congressional Representatives were honored to stand up for their districts, their neighbors. Today‘s Congress is emptying the National Treasury. Dignity, honor, the truth be damned. Congress works for the ones who pay them. The people don't have enough money to expect their representatives to care about them.
That so many Americans regard today’s congressional debate as legitimate, speaks volumes. It should never occur to the financial sector to ask for money from taxpaying, honest Americans, and if Congress is asked, it should regard such a notion as laughable, or horrifying, depending on point of view. Such are the times.
Link to con.
Wednesday, October 01, 2008
Kucinich tells Maddow: Bailout plan is 'immoral'
David Edwards and Nick Juliano
Democratic House leaders were rightfully rebuked in their attempt to pass an "immoral" bailout plan that would have put Wall Street's interests above those of average Americans, said Rep. Dennis Kucinich, who commended Republicans for helping torpedo the $700 billion package earlier this week.
"I believe in this idea of making sure that the great mass of people get some help. This plan is immoral," the Ohio Democrat and former presidential candidate told MSNBC's Rachel Maddow. "This plan is a disgrace. It bails out people on Wall Street who have speculated and who would drive this economy into the ground unless we have some controls on them."
Kucinich, one of the most liberal House members, predicted the bailout package's demise before it went down in a dramatic vote Monday afternoon. He said the plan should take "a page out of classic New Deal economics," and focus more on helping struggling homeowners than Wall Street speculators.
"Help the many and you'll help the few," Kucinich said. "But what's happening is this bailout proposal helps the few at the expense of the many."
Link to con.
David Edwards and Nick Juliano
Democratic House leaders were rightfully rebuked in their attempt to pass an "immoral" bailout plan that would have put Wall Street's interests above those of average Americans, said Rep. Dennis Kucinich, who commended Republicans for helping torpedo the $700 billion package earlier this week.
"I believe in this idea of making sure that the great mass of people get some help. This plan is immoral," the Ohio Democrat and former presidential candidate told MSNBC's Rachel Maddow. "This plan is a disgrace. It bails out people on Wall Street who have speculated and who would drive this economy into the ground unless we have some controls on them."
Kucinich, one of the most liberal House members, predicted the bailout package's demise before it went down in a dramatic vote Monday afternoon. He said the plan should take "a page out of classic New Deal economics," and focus more on helping struggling homeowners than Wall Street speculators.
"Help the many and you'll help the few," Kucinich said. "But what's happening is this bailout proposal helps the few at the expense of the many."
Link to con.
Michael Moore: Congratulations, We Stopped the 'Inevitable' Bailout for the Rich
Posted by Michael Moore
Friends,
Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan's finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.
But what they didn't know was that hundreds of thousands of Americans woke up yesterday morning and decided it was time for revolt. The politicians never saw it coming. Millions of phone calls and emails hit Congress so hard it was as if Marshall Dillon, Elliot Ness and Dog the Bounty Hunter had descended on D.C. to stop the looting and arrest the thieves.
The Corporate Crime of the Century was halted by a vote of 228 to 205. It was rare and historic; no one could remember a time when a bill supported by the president and the leadership of both parties went down in defeat. That just never happens.
Link to con.
Posted by Michael Moore
Friends,
Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan's finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.
But what they didn't know was that hundreds of thousands of Americans woke up yesterday morning and decided it was time for revolt. The politicians never saw it coming. Millions of phone calls and emails hit Congress so hard it was as if Marshall Dillon, Elliot Ness and Dog the Bounty Hunter had descended on D.C. to stop the looting and arrest the thieves.
The Corporate Crime of the Century was halted by a vote of 228 to 205. It was rare and historic; no one could remember a time when a bill supported by the president and the leadership of both parties went down in defeat. That just never happens.
Link to con.
The Rich Are Staging a Coup This Morning ...a message from Michael Moore
Friends,
Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.
No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. "Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. "At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees. "Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.
And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!
Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.
Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?
It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills. Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.
This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!
I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:
1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.
2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).
3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.
When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!
Yours,
Michael Moore
Friends,
Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.
No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. "Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. "At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees. "Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.
And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!
Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.
Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?
It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills. Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.
This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!
I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:
1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.
2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).
3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.
When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!
Yours,
Michael Moore
Subscribe to:
Posts (Atom)
