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Ted Rall | Workin' for 'The Man' / assets.amuniversal.com

 

 

Section(s): 

How Austerity Wrecked the American Economy

  • Republicans are fighting to cut spending, while America is trying to recover from the worst recession since WWII. Ted Cruz and the tea party are trying to shut down Washington and are instead losing sight of what‘s really wrong with the economy. And they are still working toward crippling the economy.
  • It's the Austerity, Stupid
  • Paul Krugman’s right: Austerity kills

Kevin Drum, Mother Jones

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Illustration by Zohar Lazar 

Mon Sep. 23 | With Washington DC's attention focused on the antics of Ted Cruz and the tea partiers, who are threatening to shut down the government unless Obamacare is defunded, it's easy to lose sight of the bigger picture: Aside from Obamacare, the budget battles of the past three years have been exclusively about the Republican obsession with cutting spending while we're trying to recover from the worst recession since World War II.

This is lunacy, and it's the subject of "Death by a Thousand Cuts," my cover story in the current issue of Mother Jones. The piece is framed around the famous Excel error in the paper by Carmen Reinhart and Ken Rogoff, but my point isn't really to blame them for what happened. Their paper, predicting doom if U.S. debt levels went above 90 percent of GDP, provided important intellectual cover to the austerity zealots who wanted to use the recession as an excuse to hack away at spending on social welfare programs, but the truth is that the zealots would have done it anyway. R&R just made their job easier.

Kevin Drum is a political blogger for Mother Jones.

Full story…

Related:

It's the Austerity, StupidKevin DrumMother Jones

  • September/October 2013 Issue | Once again, the Beltway fell for cherry-picked data—and you paid the price.
  • How We Were Sold an Economy-Killing Lie

Paul Krugman’s right: Austerity kills, David Stuckler and Sanjay Basu, Salon 

  • Austerity kills -- radical cuts destroy economies and lives, and the honest numbers and economics keep proving it.
  • Excerpted from "The Body Economic: Why Austerity Kills"
  • How America Became a Third World Country (2013-2023)
  • The Real Cost of Austerity

 

Section(s): 

RIP, the middle class: 1946-2013

  • The 1 percent hollowed out the middle class and our industrial base. And Washington just let it happen.
  • If 80% of us are in or near poverty then there is no middle class
  • The economy isn’t coming back

Edward McClelland, Salon

 

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(Credit: sturti via iStock)

 

Friday, Sep 20, 2013 | I know I’m dating myself by writing this, but I remember the middle class.

 

I grew up in an automaking town in the 1970s, when it was still possible for a high school graduate — or even a high school dropout — to get a job on an assembly line and earn more money than a high school teacher.

 

In our neighbors’ driveways, in their living rooms, in their backyards, I saw the evidence of prosperity distributed equally among the social classes: speedboats, Corvette Stingrays, waterbeds, snowmobiles, motorcycles, hunting rifles, RVs, CB radios. I’ve always believed that the ’70s are remembered as the Decade That Taste Forgot because they were a time when people without culture or education had the money to not only indulge their passions, but flaunt them in front of the entire nation. It was an era, to use the title of a 1975 sociological study of a Wisconsin tavern, of blue-collar aristocrats.

 

Full story…

 

Related:

 

If 80% of us are in or near poverty then there is no middle class, MinistryOfTruth, Daily Koss

The economy isn’t coming back, Eric Krasnauskas, Transition Voice

  • On the contrary, it’s a patched-together mess on its way to the crapper. 
  • We Wait in Vain
  • Quantitative Easing Explained. 

 

Section(s): 

11 Questions You Should Ask Libertarians to See if They're Hypocrites

  • We aren’t suggesting every libertarian is a hypocrite, but there’s an easy way to find out.
  • The True History of Libertarianism in America

RJ Eskow, AlterNet

Submitted by Evergreene Digest Contributing Editor Lydia Howell

 

At a time when corporations are buying up elections - not to mention the 24-hour news cycle - help ensure that a source for truly independent journalism lives on. Support all reader supported Evergreene Digest today by using the donation button in the above right-hand corner. 

Photo Credit: SenRandPaul YouTube channel

Libertarians have a problem. Their political philosophy all but died out in the mid- to late-20th century, but was revived by billionaires and corporations that found them politically useful. And yet libertarianism retains the qualities that led to its disappearance from the public stage, before its reanimation by people like the Koch brothers: It doesn’t make any sense.They call themselves “realists” but rely on fanciful theories that have never predicted real-world behavior. They claim that selfishness makes things better for everybody, when history shows exactly the opposite is true. They claim that a mythical “free market” is better at everything than the government is, yet when they really need government protection, they’re the first to clamor for it.

That’s no reason not to work with them on areas where they’re in agreement with people like me. In fact, the unconventionality of their thought has led libertarians to be among this nation’s most forthright and outspoken advocates for civil liberties and against military interventions.

Full story…

 

RJ Eskow is a writer, business person, and songwriter/musician. He has worked as a consultant in public policy, technology, and finance, specializing in healthcare issues.

 

 

 

Related:

The True History of Libertarianism in America, Mark Ames, NSFWCORP / AlterNet

  • Before Milton Friedman was earning plaudits as an economic genius, he was a shill for the real estate industry and an early pioneer for big business propaganda known as libertarianism.
  • A Phony Ideology to Promote a Corporate Agenda
  • The Myopic Selfishness of Libertarians
  • The 1 percent played Tea Party for suckers

 

 

Special Project | America's Financial Crisis: Week of September 22, 2013

  • “…it seems that our remedies are instinctively those which aggravate the sickness: the remedies are expressions of the sickness itself“. --Thomas Merton
  • 8 New Items including:
    • 25 Fast Facts About The Federal Reserve
    • Larry Summers and Cronies Opening the World to Criminal Banksters
    • Detroit Is the Front Line
    • Survey Finds Working Poor Have Dimming Faith In Economic Mobility, Policymakers
    • Trimmings for Labor Day
    • 'You F--ked Up, You Trusted Us': Talking Ratings Agencies With Chris Hayes
    • The economy isn’t coming back
    • Bombshell: Plutocrats Brazenly Collude to Hurt State Economies and Screw Working People

David Culver, Ed., Evergreene Digest

 

Pat Bagley

 

25 Fast Facts About The Federal Reserve, Michael Snyder, The Economic Collapse Blog  

  • The Fed is the biggest Ponzi scheme in the history of the world, and if the American people truly understood how it really works, they would be screaming for it to be abolished immediately.
  • The following are 25 fast facts about the Federal Reserve that everyone should know...
  • Bail-out is out, bail-in is in: time for some publicly-owned banks

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Larry Summers and Cronies Opening the World to Criminal Banksters, Ellen Brown, Special to Evergreene Digest

  • Iraq and Libya have been taken out, and Iran has been heavily boycotted. Syria is now in the cross-hairs. Why? Here is one overlooked scenario.
  • Secret Agenda in Syria? 
  • Why Eliot Spitzer Is Wall Street’s Worst Nightmare
  • Bail-out is out, bail-in is in: time for some publicly-owned banks

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Detroit Is the Front Line, Richard J. Eskow, Campaign for America's Future

  • The people of Detroit are not Other than us. They are us. And if we sacrifice their neighborhoods, our neighborhoods won’t be far behind.
  • Exclusive: 4 in 5 in US face near-poverty, no work
  • Survey Finds Working Poor Have Dimming Faith In Economic Mobility, Policymakers

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  • Survey Finds Working Poor Have Dimming Faith In Economic Mobility, Policymakers, Dave Jamieson, Huffington Post "The prospects for low-wage workers are worsening rather than improving, resulting in widespread pessimism about economic mobility in America," Oxfam said in its report. "They express disbelief that the government is on their side, and think that Congress is biased in favor of wealthy people."
  • Trimmings for Labor Day
  • Exclusive: 4 in 5 in US face near-poverty, no work
  • Five Reasons Congress Should be Deeply Ashamed About Jobs

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Trimmings for Labor Day, Robert Reich, Nation of Change

  • It would not be a tragedy if some of these shareholder returns and compensation packages had to be trimmed in order that low-wage workers at McDonald’s, KFC and Walmart got a raise.
  • Exclusive: 4 in 5 in US face near-poverty, no work
  • Five Reasons Congress Should be Deeply Ashamed About Jobs

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'You F--ked Up, You Trusted Us': Talking Ratings Agencies With Chris Hayes, Matt Taibbi, Rolling Stone

  • "The Last Mystery of the Financial Crisis" makes great use of documents uncovered in years of painstaking research by attorneys at Robbins Geller Rudman & Dowd, a San Diego-based firm that was at the forefront of major lawsuits against the industry. The material those lawyers found leaves virtually no doubt that the great ratings agencies like Moody's and S&P essentially put their analysis up for sale in the years leading up to the crash.
  • The economy isn’t coming back

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The economy isn’t coming back, Eric Krasnauskas, Transition Voice

  • On the contrary, it’s a patched-together mess on its way to the crapper. 
  • We Wait in Vain
  • Quantitative Easing Explained. 

###

 

Bombshell: Plutocrats Brazenly Collude to Hurt State Economies and Screw Working People, Lynn Stuart Parramore, AlterNet

  • Illinois fatcats discuss plan to sabotage state bond ratings in scheme to destroy pensions.
  • Exclusive: 4 in 5 in US face near-poverty, no work
  • Where the Hell Is the Outrage?

 

Section(s): 

Series | Transitional Steps to A Socialist Future: Part 2: The Cuban Case

Spanish colonialism came to the Western Hemisphere in the fifteenth century. Indigenous people were killed or enslaved. Africans were brought to the occupied land to produce sugar, tobacco, coffee, dyes, and other commodities that would find their way to Europe and processing for sale in the new global market place. The era of primitive accumulation, as Marx called it, marked the “happy dawn” of a new era.

Harry Targ, Diary of a Heartland Radical

Sunday, June 9, 2013 | Spanish colonialism came to the Western Hemisphere in the fifteenth century. Indigenous people were killed or enslaved. Africans were brought to the occupied land to produce sugar, tobacco, coffee, dyes, and other commodities that would find their way to Europe and processing for sale in the new global market place. The era of primitive accumulation, as Marx called it, marked the “happy dawn” of a new era.

Cuba became part of this new imperial system. Indigenous people were destroyed. Sugar plantations were established. And Cuba became an administrative center of Spanish colonialism in the “new world.” Some of Havana’s landmark buildings were constructed in the fifteenth century to house Spanish administrators.

Full story…

Related:

Series | Transitional Steps to A Socialist Future: Part 1: The VietNam Case, Harry Targ, Diary of a Heartland Radical

The impact of capitalist globalization included enormous scientific and technological advances, significant increases in the capacity to sustain life, coupled with the capacity to exploit, destroy, kill, uproot traditional cultures and communities, and defile the human landscape.

 

 
Section(s): 

Series | Transitional Steps to A Socialist Future: Part 1: The VietNam Case

The impact of capitalist globalization included enormous scientific and technological advances, significant increases in the capacity to sustain life, coupled with the capacity to exploit, destroy, kill, uproot traditional cultures and communities, and defile the human landscape.

Harry Targ, Diary of a Heartland Radical

Tuesday, June 4, 2013 | The weight of history bears down on humankind such that, paraphrasing Marx, people make history but not precisely as to their own choosing. The rise of capitalism out of feudalism in Northern Europe spread over the centuries to Africa, Asia, and Latin America ripping asunder traditional patterns of economic, social, and cultural relations. A new political economy dynamic, now called “neoliberal globalization,” spread across the face of the earth extracting natural resources, enslaving and exploiting human labor power, and expanding production and distribution such that by the twentieth century the whole world was touched. The impact of capitalist globalization included enormous scientific and technological advances, significant increases in the capacity to sustain life, coupled with the capacity to exploit, destroy, kill, uproot traditional cultures and communities, and defile the human landscape.

Capitalism created a global empire. It also created global resistance. The drive to construct empires and to build economic, political, and cultural hegemony stimulated revolution, non-violent resistance, and desperate efforts to create new forms of social and economic being. During the period since World War 11, socialist regimes and radical nationalist movements have challenged the hegemony of U.S., European and Japanese capitalism. The twentieth century socialist project disintegrated for a variety of reasons but its loss spurred new and diverse forms of resistance that complicated the rule of “victorious” empires. The economic, political, and military crises of the early 21st century, coupled with renewed resistance raised the specter of new “21st century socialist” visions. These visions became concrete programs, again paraphrasing Marx, that were not precisely of peoples’ choosing but necessary transitional steps to socialism nonetheless.

Full story…

Section(s): 

Hiding Economic Depression With Spin

  • Paul Craig Roberts, former Asst. Treasury Secretary under President Reagan, looks at the fragile House of Cards known as the US economy and makes some suggestions.
  • The economy isn’t coming back

Paul Craig Roberts, Global Research

Submitted by Evergreene Digest Contributing Editor Jim Fuller

At a time when corporations are buying up elections - not to mention the 24-hour news cycle - help ensure that a source for truly independent journalism lives on. Support all reader supported Evergreene Digest today by using the donation button in the above right-hand corner. 

Aug 1, 2013 | Time is running out for the US economy and the American people. The financial press and economic commentators, with few exceptions, do a good job of keeping this fact from the public. 

Consider for example the spin put on the “advance estimate” of the real GDP growth rate for the second quarter announced on July 31. The annual rate of 1.7 percent real GDP growth for the second quarter of 2013 was presented optimistically as an acceleration in real GDP from the first quarter’s 1.1 percent growth rate. However, the reason for the “acceleration” in growth is that the first quarter’s estimate was revised down from 1.8 percent to 1.1 percent. The second quarter GDP growth rate is also subject to revised estimates. Most likely, the final number will be lower.

Full story…

Related:

The economy isn’t coming back, Eric Krasnauskas, Transition Voice

  • On the contrary, it’s a patched-together mess on its way to the crapper. 
  • We Wait in Vain
  • Quantitative Easing Explained. 

 

 

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