Tag Archives: economy

Occupayback.

Can’t call me a cynic quite yet. The Occupy Wall Street movement seems a very positive development to my jaundiced eye. Hell, there were reportedly 400 people at the rally in Utica. When we brought out more than 200 for the big demo on the eve of the Iraq war, that seemed amazing for a place like this. 400 is practically unheard of. There is a strong undercurrent of resentment about the financial crisis and the fact that virtually none of the large institutions that caused the meltdown have been held to account, just as no executive in any of those firms has faced the threat of prosecution. Nay, they have continued to receive obscene bonuses, showboating their excess as if to flaunt their immunity from the restrictions of either the law or the marketplace. Like Dick Cheney bragging about his support for torture, they seem to be daring us to do something – anything – about their transgressions. You can’t touch me, they laugh.

Well…. maybe we can. There seems to be an overwhelming desire to do so. Not surprising. We’ve seen the result of not holding people accountable. Cheney’s a good example – still on the loose, influencing policy in some fashion. Karl Rove is another one, out raising millions for another crop of right-wing nut jobs. If course, no one has been held to account for the Iraq War, a needless conflict that tore a swath of destruction through an entire nation as well as the military families in America, draining our treasury and putting us at greater risk of attack. Ask any conservative – if you fail to adequately punish lawbreakers, you encourage others to break the law. We have certainly emboldened future presidents to march into any country they care to invade. In fact, Obama already has, without much fanfare or protest.

Some have complained that the Occupy Wall Street movement is too diffuse and disjointed. In a sense, though, that is its strength. There is a general thrust that society is divided between the stark minority with all of the money and the vast majority with financial problems. Within that lies many topics relating to economics, war and peace, freedom of speech, tax justice, etc. Flat, leaderless movements have a kind of strength that the traditional top-down model lacks: it’s easy to corrupt a handful of top dogs. But if the entire nation of Bolivia or Argentina or Greece is out in the street, banging on pots, clogging up the works, it won’t be easily co-opted.

Like the tea party, they’ve gotten their agenda in front of the people. Let’s see if they can keep it there.

luv u,

jp

Eight is enough.

Though I didn’t intend to do so, I did in fact watch part of the Republican debate at the Reagan Library on Wednesday night. At the outset, I have to say that this election season is front-loaded beyond all comprehension. For chrissake – no one has actually voted in any real sense, and yet we’ve already seen a major candidate – T-Paw – drop out, seen others alternately being accorded front-runner status, seen the declaration of a “two-man race” for the G.O.P. nomination, etc. What the hell… it’s bad enough that we are now in perpetual election mode (i.e. all of last year and much of 2009 was taken up with the mid-terms; all of this year with 2012). Can we just let the voters sort this out?

Having said that, on to the debate. The moderator’s attention first trained on THE NEXT NEW THING: RICK PERRY, who is, in fact, a very old thing. Perry (no relation) has gotten a lot of pop-culture credit for job creation. Every time I hear this, I think of an Onion headline from back when a previous Texan was in the White House – the headline went something like “Bush to U.S. Businesses: Create Millions of Shitty Jobs.”  I think it’s kind of a Texas thing, because many of those great Texas jobs that are not either in government or in the extractive industries are of the low-wage, no benefits, no security type. Anyway, here is what the governor had to say:

You want to create jobs in America? You free the American entrepreneur to do what he or she does, which is risk their capital, and I’ll guarantee you, the entrepreneur in America, the small businessman and woman, they’re looking for a president that will say we’re going to lower the tax burden on you and we’re going to lower the regulation impact on you, and free them to do what they do best: create jobs.

This is the kind of trope you hear from all of the G.O.P. these days. It’s those job-killing (low to non-existent) taxes and those job-killing (incredibly lax) regulations that are killing those jobs! Hokum. I have to think these people are just garden-variety liars, because they all look old enough to remember some substantial portion of recent history. If they think for five minutes, they’ll realize that the reason we have high-tech industry and something we call the internet is because public investments were made over the course of decades, mostly through the Pentagon system. I don’t know why these people can’t simply admit that the Federal government, with its enormous buying power, can play a significant role in prompting the development of new technologies and new industries, and has a history of allowing the privatization of innovations that the government paid to procure.

It’s not rocket science. Wait… actually, it is. That was funded by the government, too. More on these clowns later.

luv u,

jp

Thinking small.

President Obama is on vacation this week, sort of. Him and about a thousand other people, bringing him information, taking his orders, blah, blah. I don’t know why he bothers, but… he does. With that job, you may as well assume that you’re going to be working straight for four to eight years. Even so, every American president since Carter has been determined not to seem like he’s barricaded in to the White House, manning his vigil in vain. So Obama, like his predecessors, takes a ceremonial vacation, and his detractors take aim. Of course, they would anyway. He has locked himself into Washington! He’s out of touch with (white) America! they would cry if he were to cancel his outing. May as well go, Barry.

Frankly, if he were to come back from the Vineyard with a Jobs / Recovery Act proposal that involves bold efforts to fund infrastructure projects, incentivize hiring, raise taxes on the rich, and so on, I would be the first to say that the man has earned his rest. But that is an extremely unlikely scenario. Obama, smart as he is, does not want to have to walk back every statement he has made about the debt since last year. That’s my best take on that. My worst is that he really believes that cutting spending, basic social safety net programs, and government investment in the short term will, as his Republican opponents believe, create jobs. If he doesn’t know they’re smoking crack on that one, we could be in for Japan in the 1990s.

Speaking of smoking crack, Texas Governor Rick Perry has launched himself headlong into the race to defeat Obama, entering amid a flurry of wild claims and random threats against the Chairman of the Federal Reserve. Here’s a guy who has publicly referred to Social Security and Medicare as “ponzi schemes.” Seriously? This should not be hard to beat. Honestly, if Obama had just done what he needed to do, none of these freaks would stand a chance of winning. That it’s a race at all speaks to the weakness of his policies, not the strength of theirs…. because clearly, they’ve got nothing except tax cuts, tax cuts, and more tax cuts. And that’s nothing.

Will the president suggest a solution that is on the same grand scale as the problem, or is it small-bore policy all the way from here on out? We shall see.

luv u,

jp