All posts by Joseph

The hot air balloon we call the inflation debate

I saw Larry Summers on television today. That says all you need to know about the corporate media’s state of discourse on the economy. The Democratic leadership in Congress is like a deer in the headlights – they are just effing doing nothing. Didn’t they have at least two shots at reconciliation? Has it occurred to any of them that they should pass something under the Byrd rule, seeing as they plan on leaving the filibuster intact?

I suspect the answer to these questions is a resounding no, and I suspect the reason for that answer may be, well, Larry Summers. The austerians appear to be winning the day in the Biden Administration and the Democratic-led Congress. They are afraid of spending money on anything apart from the military, which is the beneficiary of lavish amounts of public funds in excess of $800 billion per annum.

The notion that social spending is responsible for recent price rises is simply laughable. There are other, more likely causes.

Pumping profits straight from the ground

Gas prices are an obvious driver of inflation. The price at the pump is somewhere around $5, the highest they’ve been perhaps ever. The thing is, crude oil prices are not at a record high, not by any means. Oil peaked in 2008 above $140 a barrel, and yet gasoline in the U.S. was selling at about $4 a gallon. Right now oil’s around $108 a barrel. So …. what gives?

One big factor is refining. During the pandemic, oil refining capacity in the United States fell about 5%, from over 19 million barrels in 2019 to less than 18 million. This was because there was less domestic travel due to COVID, which meant less demand for oil. Now that demand has shot up like a rocket again, the oil refining capacity in the United States is simply not sufficient to meet the need.

Why not reopen some of that refining capacity? Well …. that would mean more supply, lower price, less profit. Get the grift … I mean, drift?

From every misfortune a fortune is made

Why are prices rising? Over the course of 2021, corporate profits were up by more than 25%. There’s some serious profit-taking going on here, obviously. While everyone else was struggling to get through the pandemic, these fuckers have been cleaning up. Jim Hightower talks about Proctor and Gamble’s diaper business, an industry they and maybe one other mega corporation have a corner on:

Procter & Gamble Co. announced a year ago that COVID-19-driven production costs were forcing it to raise the price for its Pampers brand. At the time, it had just posted a quarterly profit of $3.8 billion, so P&G could easily have absorbed a temporary rise in its costs. But instead of holding the price to ease their customers’ economic pain, the conglomerate used a global health crisis to justify upping diaper prices. Six months later, P&G’s quarterly profit topped $5 billion. And—in that same quarter—P&G spent $3 billion to buy back shares of its own stock.

Just one of many examples. Bottom line is, as working families are stripped of the modest benefits they received from the Child Tax Credit, they must now contend with rising prices driven by the greed of monopolistic companies that contribute heavily to our leaders’ campaign coffers.

Asleep at the wheel

Why isn’t the mainstream press reporting on this? Too busy reporting on the many challenges of air travel – Turmoil at the Terminal! As I’ve mentioned previously, corporate journalists are disproportionately focused on the airline industry. That’s because they make up the seven percent of Americans who fly regularly (once a month or more). Maybe Jim Hightower should hang out in airports and talk to the correspondents as they wait impatiently for their flights.

luv u,

jp

Check out our political opinion podcast, Strange Sound.

One Long-ass road back from the Joyous lake

Get Music Here

Think we ought to go? Nah, maybe not. Though I don’t know. Maybe we CAN go. But we probably shouldn’t. And anyway, who the hell is going to pay? Not me, man. Unless they take bottle caps. With the bottles still attached.

Hello, blog friends. It may seem like you’ve caught us in another serious controversy, but that’s not the case. We’re just sitting here in the abandoned Cheney Hammer Mill, our adopted home, and shooting the breeze about this thing we should have done, this thing we shouldn’t, and so on. Kind of amazing that we all get along with each other so well after spending so many years with these dumb, lousy-ass fuckers. There’s a lot of love here.

Who caught the Katy?

What are we sparring about? Well, I’m gonna tell you. I was browsing the internets, clicking through the facebooks, and I saw an ad for Taj Mahal’s upcoming tour. No, I’m not talking about the ornate monument in Agra. I’m talking about the blues singer, Taj Mahal, who I started listening to as a wee lad of twenty-one, thanks to my dear friend Ellen Everett.

In our earliest incarnations of the band that came to be called Big Green, we played a few Taj covers and I always liked the dude. (We even included one of this songs on our 1986 demo, posted here.) When I saw that he’s planning to play Woodstock (Levon Helm studios), it reminded me of the time, back in the 80s, when a group of us humped our way down to Woodstock to hear him perform at a famous now-defunct club called the Joyous Lake.

Lost weekend … or weekdays

I can’t remember what year it was – maybe 1984? My illustrious brother Matt, our guitarist then, the late Tim Walsh, Phil Ross, our drummer, and I piled into somebody’s car, drove to Woodstock, had a cheap cafe dinner, and trooped over to the Joyous Lake to buy tickets. As we were standing there, waiting for the tix, I turned around and saw the man himself, Taj Mahal, having an early dinner, gabbing with Rick Danko from The Band.

Left me a mule to ride!

I remember him putting on a really good performance that night, mostly solo, playing an electric guitar, I think a drobo, and an upright piano. He kicked the shit out of Johnny Rivers’s Rockin’ Pneumonia and the Boogie Woogie Flu on that piano, as I recall. As an added bonus, the horn player Howard Johnson came up and accompanied Taj on a couple of songs, playing one on a tuba and the other on a piccolo. Taj also did a nice, quiet version of his arrangement for Johnny Too Bad.

Then what? I’ll tell you …

I don’t remember what happened next. We went home, we slept, we played, we slept …. rinse and repeat. Fast forward to this week, I see the ad for Taj’s gig in Woodstock, and I think, man, I should go. Only trouble is, it’s sold out at $100 a ticket for general seating. Good going, Taj! You can still pull them in.

Guess I’ll just have to suffice with another rendition of She Caught The Katy, or Fishin’ Blues, or Corrina. Where’s my non-existent dobro?

luv u,

jp

How the hearings stack up against hearings past.

As someone who tends to pay attention to these things, I watched the first night of the January 6th Committee hearings with some interest. MSNBC spent a week winding up to these public meetings, and the committee did not, in my estimation, disappoint. I don’t know who in America remains persuadable on this issue, but it’s hard to watch the proceedings and not come away thinking about what an outrage January 6 was.

When I say January 6, I mean the whole enchilada. The day was just the culmination of a long process which the president at the time set in motion. As shocking as the attack was – and I, like many, watched it unfold with disbelief – Trump had long demonstrated his contempt for elections, and spent much of 2020 undermining the credibility of mail-in and absentee ballots. This was because he knew that Democrats were more likely to opt for vote by mail than to show up at the polling place. The hearings are highlighting this dynamic, and it’s all to the good.

Haldeman’s racist lawyer

Not surprisingly, many commentators have invoked the Watergate hearings back in 1973 to give context to the current proceedings. I’m old enough to remember these being broadcast on television, though I can only recall the high (or low) points, like when Haldeman’s shriveled old lawyer called Senator Dan Inouye – a wounded WWII veteran – “that little jap”. That was world-class.

The thing that’s notable about the Watergate scandal was its iceberg-like quality of revealing just the tip of what was hidden from view. Author Jefferson Morley talked about this on Majority Report this week. Several of Nixon’s “plumbers” were CIA assets or agents with a long history of involvement in the Agency’s abuses at home and overseas. More of the truth came out during the Church Committee investigation a few years later, but it was kind of a controlled burn, according to Morley. (Practically at the same time as Church, Cuban exile Agency assets blew up Orlando Letelier on Embassy Row in D.C. and the Cuban Olympic Fencing team in mid-air.)

Reagan’s little game

Perhaps the second most well-known Congressional investigation was Iran Contra during the Reagan administration. This, too, represented a tiny corner of a much larger enterprise. The select Committee (led by Inouye, incidentally) looked into Reagan’s circumvention of the Congress’s law barring direct aid to the Contra terrorists operating in Nicaragua with our assistance. (We had essentially created the force out of thin air.) The crime was breaking the law passed by Congress, not the persecution of Nicaraguans.

Beyond that, though, Reagan’s team headed by Oliver North and General Secord sold TOW missiles and some spare parts to the Iranian government, which was defending itself against an invasion by Saddam Hussein’s Iraq – an invasion supported by the United States! Interestingly, very little about America’s role in the Iran-Iraq conflict came to light through these hearings. Neither did the committee touch on how the U.S. government was supporting murderous dictatorial regimes in El Salvador, Guatemala, Honduras, and elsewhere.

Old fashioned grift and graft

The January 6th Committee proceedings are looking at something kind of different. This is more garden variety corruption and authoritarian tendencies, though as always, racism is part of the story. Trump tried to lie his way into permanent status as president, and has thus far failed. He bilked his own supporters out of hundreds of millions of dollars, saying they were contributing to a legal defense fund. Guy has no shame.

I guess the thing that ties them all together is authoritarianism and a strong desire to override the will of the people, either by discounting their votes or ignoring their elected representatives. That much hasn’t changed.

luv u,

jp

Check out our political opinion podcast, Strange Sound.