There is much ongoing discussion about steps needed to turn the enormous one day action of the global Women’s March in to a sustained movement to achieve better outcomes for the vast majority of Americans.1 To focus on just one strategic element, the movement needs to move beyond identity politics to embrace class warfare. The rich and corporations have carried out a sustained and successful class war for more than 40 years. They control the government and the economy. Donald Trump is just a symptom of the underlying issues. We need to break this hammerlock and shift the rules of politics and the economy back towards us, the 90% who are living off the remainders, the scraps from their feast. Continue reading
Now that the quadrennial Presidential election circus has officially passed the first pole, we can take a look at the field. None of the Republicans would even be allowed into my outhouse let alone past the front door. They are all counter-factual, racist, homophobic, religious, free market fundamentalist zealots (excepting of course Trump who is most of that but also a made for TV grinning orange monkey). So, enough with them. Continue reading
The trail of money around Hillary and Bill Clinton and their foundation continues to attract lots of comment and not a few efforts to prove that money changed hands in return for specific acts by Hilary as Secretary of State. Peter Schweizer’s book Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich (NY: Harper 2015) is just one example of a tsunami of comment, pro and con, of course.1
- read a review in the New York Review of Books by Michael Tomasky http://www.nybooks.com/articles/archives/2015/jun/25/hillary-our-future/ [↩]
A recent John Stewart Daily Show that explored Mitt Romney’s recent release of income tax data got me to thinking about long division.
Romney’s income of roughly $22 million per year is so large that it kind of disappears into the haze of too much information. But, get out your pencil and divide that by 365 days to discover that his income is $60,000 per day. That is slightly over $10,000 more than the median family income in the US. 2010 = $49,455.
Then, I thought about corporate money in government. In 2011, $3.27 billion dollars was reported officially as expenditures on lobbying in Washington. Again with the long division, that is $6.1 million per member of Congress. Remember this is lobbying dollars, not the super pac money or all of the campaign contributions Congress people spend most of their time soliciting. Or, to divide the $3.27 billion by the number of officially registered lobbyists in Washington, 12,592, this gives each of them $260,000 to divide between pay and payola.
Do some of your own long division.
There is more evidence that the current run of religious mania about “free markets” is finally giving way to a more fact-based approach to this important human invention, many countries are now applying capital controls on the flow of monies into their economies. The world flood of money seeking higher rent districts is terrorizing smaller economies like a tsunami. Fears of speculative bubbles burgeoning and then bursting with disastrous consequences for local economies are driving many to control inflows. Recently the NY Times posted an article about this phenomenon, “Countries See Hazards in Free Flow of Capital”1.
“The world has learned about the perils of free market finance — global financial liberalization just does not work as advertised,” said Dani Rodrik, a political economy professor at the John F. Kennedy School of Government at Harvard. “Just as John Maynard Keynes said in 1945 — capital controls are now orthodox.”
Despite the obvious lessons of the last 4 years, “free market” advocates, just like religious zealots throughout history, remain undeterred by the facts on the ground. Financial firms ride along with this zealotry because its suits their business strategies to a T. Nevertheless, some governments, in the face of what must be enormous pressures from the world financial industry that profits coming and going in these financial boondoggles, are facing up to the facts and doing their best to take actions to control the impacts of markets on their local economies. Unfortunately for us in the US, we have no such governments. Ours are owned more than ever completely by big money, overwhelmingly by big corporate money and the super plutocracy of the super rich. They have always known that “free markets” is a wonderful religious cover their control over the real wheels of commerce and politics.
- By LANDON THOMAS Jr. Published: November 10, 2010 http://www.nytimes.com/2010/11/11/business/global/11capital.html?_r=1&emc=eta1# [↩]