say it on Bill Moyer's Journal last Friday - policy makers are fighting to get back to status quo of several years ago instead of trying to move forward with new ideas.
As I was reading the comments I had the same thought about how I wish I had a timeline. I can't help. I need the help that a timeline would provide. I hope you guys can put one together.
Thank you
and I'm starting to lose it because all TV is infomercial repeat noise to the point I think it could drive someone crazy if they had it on all of the time.
I flipped it on to see tonight's election results and of course had to actually go to the Internets to find out what the issues were and what people voted on.
a nice visual of a timeline of each piece of legislation, what it did in terms of damage, leading up to this point and how we need it back would be a dynamite blog post.
I could help make a graphic if you're game to take it on.
Whatever point in history one identifies as the "beginning of the end", we can all agree on what we are left to confront. In this regard, who cares about where we went wrong? It only matters that we went assuredly wrong and changing it is not going to be easy, to say the least.
It is not a matter of blaming either Republican or Democratic regimes, they are both culpable. And, it is quite evident that there is little difference between the parties today.
Actually, I stopped watching all TV news programs (local, network, cable) shortly after the election last year. There is no point to watching this "fair and balanced" BS where talking heads from the left and right are allowed to just spew propaganda, without any resolution. Everyone is just talking past each other. It is pointless, contrived "debate".
The blogosphere is the only chance that the truth will be told. I'm not sure it will be enough, but it is our best chance at the moment.
Everyone gets hung up on Gramm-Leach-Bliley Act. I don't know why.
It all started with Depository Institution Deregulation and Monetary Control Act of 1980 and continued with the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994.
These two acts, both passed by Democratic congress' and signed into law by Democratic presidents, did FAR more damage than Gramm-Leach-Bliley ever did.
Allowing investment banks and securities firms access to taxpayer deposits, ref: the 1999 Glass-Steagall repeal (Gramm-Leach-Bliley Act), and liberating the derivatives trade, ref: the 2000 Commodity Futures Modernization Act, are the two pieces of law that directly led to a situation in which banks were allowed both to 1) become as big as they are now (too big to fail) and 2) to leverage their bets as much as they have (which wiped out their capital).
And you don't really have to be all that smart to realize that both acts are de-regulatory, and made the markets more, not less, free. Now look around you and tell me what you see 10 years later. Not what the likes of Shedlock and Ron Paul envisioned, I’ll bet.
In other words, the free market system has failed America miserably. Well, at least in this instance, and that by itself should raise very grave doubts about that system.
And it's not all that hard either to see why that is. If you let market participants free to pursue what is in their best interests, without forcing them to give priority to society's best interests, they will eventually figure out that the best single investment they can possibly make is to buy the government. That allows them to make the laws. Which is detrimental to the rest of society, and leads to the sort of mess we're in right now, which even libertarians concede is not desirable.
He's right, ya know, the free market gives corporations a huge advantage over individual citizens. And they have used that advantage to support politicians who are pliable and getting voters to go against their best interests in getting those same politicians elected. Correcting the situation requires nothing short of a revolution.
Capitalism might or might not work only if and when you could keep corporations out of the government. If you can't, disaster is assured for everyone but the corporations. Since corporations are required by law to deliver the maximum return on their investments, and no return comes close to buying political power, it should be obvious that there's a glaring contradiction in the libertarian position of more freedom for corporations and less for government. In the present American situation, there is no party that benefits from a larger government as much as corporations do. After all, they control the government.
{snip}
Our economic, financial, capital, and credit system is done and gone. What you're looking at today is a corpse propped-up by the promise of future tax revenues from millions upon rapidly increasing millions of homeless and jobless Americans.
Unfortunately, that's just the beginning. Because the financial system has been allowed to infiltrate the political system to the degree in which it has (a full-scale take-over), America's political system is as bankrupt as its financial system is. It will take a long and hard time to replace.
Fortunately, bloated and corrupt empires have historically collapsed from within. Given the modern "security state" we live in, that is the only way this American abomination of "democracy" will be replaced. I just don't see how a "populist uprising" will be allowed to get underway, let alone succeed.
Note, we, or I did not get invited to much of anything on this front.
But, I would say this implies bloggers are having enough of an impact some at the Treasury paid attention to them...
now if bloggers could get real policy change which all are criticizing, that would be true influence, instead of being invited to just hear the same rhetoric on TARP on steroids and no breaking up the banks, Fed as super regulator, etc.
Maybe if we keep at the analysis we'll grow to the level of NC and an get more influence.
Why pit one generation against another - that makes it easy on policy makers? The better solution is for having a strategy and economic policies that preserve the jobs we have and create new jobs for all Americans
Wow is all I can say. I just checked the price spike in real time with the free widget ExactPrice and seeing that graph sure makes this jump look really kind of neat and exciting. Price is still staying up there after hours.
I can only imagine how upset China is over this. Though I'm not surprised that India jumped in. They've got such a cultural link to the metal that one kind of expects them to love the golden stuff.
are funding points where corporate lobbyists go to make sure their agenda gets through. ;)
I mean it's empty labels to me. What do I care for Democrats in power when the bills they pass are just as bad as when Republicans were in power?
I wish a 3rd party candidate, just generally could break through. the only one who has been successful is Bernie Sanders and we could use a lot more...if 3rd party candidates can win, it would break this corporate stranglehold that is both Dems and Republicans.
It's really strange too. Believe this or not, Chuck Grassley is one of the best friends to Professional Tech labor...we have Shelby also better on financial reform than a lot of Dems...
go figure.
One of the things that drives me nuts are these gerrymandered seats, esp. in Congress. Ex. Mike Pence. You cannot get him out of Congress even though his votes, positions have ravaged his district. It's a strong manufacturing area and they have been decimated by outsourcing and other corporate driven policies..
yet, Pence just has to say some absurd thing on "anti-choice" and bam, he wins again.
I think the idea of moving the age limits for Medicare, considering how unaffordable premiums get when one hits 50 is a good idea.
The entire "force early retirement" was some sort of idea from Thomas Hartman and this was "Progressive". I swear people don't have much common sense. They will defend flooding the labor market regardless claiming illegals need those jobs (they do need jobs, but not "those" jobs)....yet when it comes to Americans, will claim you're a racist when you want Americans taken care of, first and foremost...
I mean it's really nuts. The U.S. cannot be the world's employer, it's pretty obvious from falling wages, the middle class implosion, we're not even taking care of our own citizens....yet you'll see stuff, coming from the left where standing up for Americans, wanting Americans employed, Americans "1st" basically, you'll be called a racist...
to the point we get endorsed discrimination against Americans, i.e. Thomas Hartman's "proposal" and coming from groups who used to stand for equality/diversity. It's like all values are turned upside down upon their heads.
Yeah, considering people live until 80, age discrimination is a major, major problem in the U.S. at this point. Also, people who work, pay taxes....they don't even contemplate that idea with anyone over 40.
The U.S. economy can't recover without adequate employment, and we can't have adequate employment while big businesses outsource jobs, and big businesses will continue outsourcing as long as they receive tax breaks, etc. When they were campaigning, every Democratic presidential candidate, including Obama, promised to end those tax breaks. Those campaign promises are being ignored. Big businesses still get the same tax breaks and house much of their enormous profits in other countries while the U.S. suffers.
Republicans drive the Republican candidate out of the New York-23 race. And, a Democrat House member grills the Democrat Treasury Sec. to the point of make the Sec. sound ridiculous about a Dem. Administration economics bill. At the bottom of the YouTube screen provided by Rober Oak, are other video options. See the one call “Brad Sherman questions Sec. Geithner.”
What happened to party loyalties? Are profound economic changes such as we have seen in the past year giving way to profound political changes? There is a lot of talk about a “New Economy.” I wonder if we are going to see a “New Politics” also.
One thing is for sure: The past is no long a guide to the future – in Economics and Politics. For students of political economy such as myself, ‘it don’t get better than this’.
say it on Bill Moyer's Journal last Friday - policy makers are fighting to get back to status quo of several years ago instead of trying to move forward with new ideas.
It is an opportunity wasted.
RebelCapitalist.com - Financial Information for the Rest of Us.
As I was reading the comments I had the same thought about how I wish I had a timeline. I can't help. I need the help that a timeline would provide. I hope you guys can put one together.
Thank you
Anyone see this Goldman Sachs plan to buy unused Fannie/Freddie tax credits?
article here.
I didn't post it in an Instapopulist because "surely this isn't possible" or will be disallowed...
but maybe not.
Maybe common good or someone can pick up this ball and see if it's true.
and I'm starting to lose it because all TV is infomercial repeat noise to the point I think it could drive someone crazy if they had it on all of the time.
I flipped it on to see tonight's election results and of course had to actually go to the Internets to find out what the issues were and what people voted on.
a nice visual of a timeline of each piece of legislation, what it did in terms of damage, leading up to this point and how we need it back would be a dynamite blog post.
I could help make a graphic if you're game to take it on.
Good point midtowng, but there are a lot of opinions trying to identify timepoint zero. I wrote a blog last spring, making the case for groundpoint zero to be the Supreme Court decision of December 18, 1978 in the case of Marquette National Bank v. First of Omaha Service Corp..
Whatever point in history one identifies as the "beginning of the end", we can all agree on what we are left to confront. In this regard, who cares about where we went wrong? It only matters that we went assuredly wrong and changing it is not going to be easy, to say the least.
It is not a matter of blaming either Republican or Democratic regimes, they are both culpable. And, it is quite evident that there is little difference between the parties today.
Actually, I stopped watching all TV news programs (local, network, cable) shortly after the election last year. There is no point to watching this "fair and balanced" BS where talking heads from the left and right are allowed to just spew propaganda, without any resolution. Everyone is just talking past each other. It is pointless, contrived "debate".
The blogosphere is the only chance that the truth will be told. I'm not sure it will be enough, but it is our best chance at the moment.
basically ex-post facto legalized the merger between citicorp and travelers insurance and salomon smith barney.
RebelCapitalist.com - Financial Information for the Rest of Us.
Everyone gets hung up on Gramm-Leach-Bliley Act. I don't know why.
It all started with Depository Institution Deregulation and Monetary Control Act of 1980 and continued with the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994.
These two acts, both passed by Democratic congress' and signed into law by Democratic presidents, did FAR more damage than Gramm-Leach-Bliley ever did.
It's absurd. They can fill up 24/7 on "analysis" and completely miss or never mention the real drivers or what most people want from the parties.
Every time they distort the issues to make it seem like it's one corporate agenda pitting against another one.
Well, all one can do at the moment is keep writing and analyzing.
You are absolutely right RO, there is no difference between the political parties and the corporations have finally succeeded in making it so.
To this end, just consider Ilargi's recent observations on the matter.
He's right, ya know, the free market gives corporations a huge advantage over individual citizens. And they have used that advantage to support politicians who are pliable and getting voters to go against their best interests in getting those same politicians elected. Correcting the situation requires nothing short of a revolution.
{snip}
Fortunately, bloated and corrupt empires have historically collapsed from within. Given the modern "security state" we live in, that is the only way this American abomination of "democracy" will be replaced. I just don't see how a "populist uprising" will be allowed to get underway, let alone succeed.
Good God, they even had a committee voice vote so they individually do not have to be recorded?
Pretty incredible and at least HuffPo is making this front and center to show the Obama administration just did corporate lobbyist's bidding.
NC details here.
Note, we, or I did not get invited to much of anything on this front.
But, I would say this implies bloggers are having enough of an impact some at the Treasury paid attention to them...
now if bloggers could get real policy change which all are criticizing, that would be true influence, instead of being invited to just hear the same rhetoric on TARP on steroids and no breaking up the banks, Fed as super regulator, etc.
Maybe if we keep at the analysis we'll grow to the level of NC and an get more influence.
Maybe a system like Finland which does allow for profit, private along side their universal health care.
Why pit one generation against another - that makes it easy on policy makers? The better solution is for having a strategy and economic policies that preserve the jobs we have and create new jobs for all Americans
RebelCapitalist.com - Financial Information for the Rest of Us.
Wow is all I can say. I just checked the price spike in real time with the free widget ExactPrice and seeing that graph sure makes this jump look really kind of neat and exciting. Price is still staying up there after hours.
I can only imagine how upset China is over this. Though I'm not surprised that India jumped in. They've got such a cultural link to the metal that one kind of expects them to love the golden stuff.
are funding points where corporate lobbyists go to make sure their agenda gets through. ;)
I mean it's empty labels to me. What do I care for Democrats in power when the bills they pass are just as bad as when Republicans were in power?
I wish a 3rd party candidate, just generally could break through. the only one who has been successful is Bernie Sanders and we could use a lot more...if 3rd party candidates can win, it would break this corporate stranglehold that is both Dems and Republicans.
It's really strange too. Believe this or not, Chuck Grassley is one of the best friends to Professional Tech labor...we have Shelby also better on financial reform than a lot of Dems...
go figure.
One of the things that drives me nuts are these gerrymandered seats, esp. in Congress. Ex. Mike Pence. You cannot get him out of Congress even though his votes, positions have ravaged his district. It's a strong manufacturing area and they have been decimated by outsourcing and other corporate driven policies..
yet, Pence just has to say some absurd thing on "anti-choice" and bam, he wins again.
I think the idea of moving the age limits for Medicare, considering how unaffordable premiums get when one hits 50 is a good idea.
The entire "force early retirement" was some sort of idea from Thomas Hartman and this was "Progressive". I swear people don't have much common sense. They will defend flooding the labor market regardless claiming illegals need those jobs (they do need jobs, but not "those" jobs)....yet when it comes to Americans, will claim you're a racist when you want Americans taken care of, first and foremost...
I mean it's really nuts. The U.S. cannot be the world's employer, it's pretty obvious from falling wages, the middle class implosion, we're not even taking care of our own citizens....yet you'll see stuff, coming from the left where standing up for Americans, wanting Americans employed, Americans "1st" basically, you'll be called a racist...
to the point we get endorsed discrimination against Americans, i.e. Thomas Hartman's "proposal" and coming from groups who used to stand for equality/diversity. It's like all values are turned upside down upon their heads.
Yeah, considering people live until 80, age discrimination is a major, major problem in the U.S. at this point. Also, people who work, pay taxes....they don't even contemplate that idea with anyone over 40.
The U.S. economy can't recover without adequate employment, and we can't have adequate employment while big businesses outsource jobs, and big businesses will continue outsourcing as long as they receive tax breaks, etc. When they were campaigning, every Democratic presidential candidate, including Obama, promised to end those tax breaks. Those campaign promises are being ignored. Big businesses still get the same tax breaks and house much of their enormous profits in other countries while the U.S. suffers.
Republicans drive the Republican candidate out of the New York-23 race. And, a Democrat House member grills the Democrat Treasury Sec. to the point of make the Sec. sound ridiculous about a Dem. Administration economics bill. At the bottom of the YouTube screen provided by Rober Oak, are other video options. See the one call “Brad Sherman questions Sec. Geithner.”
What happened to party loyalties? Are profound economic changes such as we have seen in the past year giving way to profound political changes? There is a lot of talk about a “New Economy.” I wonder if we are going to see a “New Politics” also.
One thing is for sure: The past is no long a guide to the future – in Economics and Politics. For students of political economy such as myself, ‘it don’t get better than this’.
Pages