Libertarianism: If Not Now, Then When?
Joel S. Hirschhorn
With the meltdown of the American economy, what better time to ask: Can libertarianism come to the rescue?
Perhaps the most interesting statement in the Wikipedia discussion of libertarianism is that
There is no single theory that can be reliably identified as the libertarian theory, and no single principle or set of principles on which all libertarians would
Originally published 2009-01-07 09:33:07 -1000 - promoted by roxy
When I was young talk about millions of dollars impressed me. When I was older talk about billions of dollars dismayed me. Now, regular talk about trillions of dollars, especially government spending, nauseates me.
People never seem to learn that they control the fate of the American economy. It is far too easy to blame in bad times or thank in good times Wall Street, the government, or super-rich and powerful financial entities. In actual fact it is always the spending of money by the general population on consumer products and services, housing, cars, or investments that drives the economy.
Carol White reviews Robert Kuttner’s Obama’s Challenge: American’s Economic Crisis and the Power of a Transformative Presidency
In his new book, Robert Kuttner has provided a context for the current discussion on Barack Obama’s economic team, men like Timothy Geithner who will be leaving his post as head of the NY Federal Reserve to become Treasury Secretary. What will be their influence in determining the direction of the new Administration? Events have moved rapidly since he wrote the book (released this past labor day), but it is still timely and prescient.
Challenges President Obama will be facing on January 19th
Posted with permission of Nicholas Benton, Owner Editor of the Falls Church News Press.
by Nicholas Benton
The news came yesterday that for only the seventh month since 1947, October 2008 marked a one-percent decline in the Consumer Price Index (CPI), suddenly raising the specter of things far worse than a mere recession, but a deflation and depression.
There's no indication that there will be a turnaround any time soon, and public and private financial policies seem to be exacerbating, not correcting, the problem. Unabated financial exploitation to line the pockets of the super rich, while real wages for American workers have fallen in the decade, is the legacy of the worst U.S. administration in history that has brought us to the brink of another Great Depression.
Promoted by Roxy - orginally published 2008-11-16 23:42:34 -1000
Tasks Ignored During the Bush Reign of Horror
"Scoop" Independent News
The last eight years can best be described as the illegitimate rule of deviant forces bent on enriching the few at the expense of the many. Poverty is up, real income is flat for the majority of citizens while the elite have "super sized" their holdings with a callous disregard for the nation and economic realities.
Obama reiterated his campaign pledges and called for immediate congressional action on stimulus package including an extention of UIB.
Imagine that the auto industry had the capital (and would use it) to build cars that customers could afford - cars that don't run on the overpriced gasoline that the customers cannot afford. Imagine a world where we could save our auto industry without further destroying our habitable climate!
I am not an expert on either the car industry or even alternative vehicles; although I peruse them almost daily on the Internet, looking for my future wheels. I'm going to take the first opportunity to lose my current guzzler and stop pouring my money into Exxon-Mobile's record-breaking quarterly bonuses. For once I'd like to see the oil companies in financial trouble... instead of everybody else.
The next Administration will really have something to sink its teeth into when it assumes control of the nation on January 20, 2009.
Bob Willis of Bloomberg writes today that President-elect Obama is set to inherit the worst U.S. recession since Reagan:
President-elect Barack Obama will inherit the worst recession since Ronald Reagan’s second year in the White House, economists said as figures showed U.S. payrolls plunged by more than half a million the past two months.
The economy will shrink at a 3.5 percent annual rate in the fourth quarter and at a 2 percent pace in the first quarter of 2009, nearly twice prior estimates, Goldman Sachs Group Inc. economists led by Jan Hatzius wrote yesterday in a note. That would be the biggest back-to-back contraction since 1982.
With an extra helping of war for his two sides.
I wonder if he can get fries with that?
This is an Open Thread.
promoted by roxy - this is a beautiful story ...
My husband and I were driving around town this past weekend, and couldn't help but notice two huge, wooden signs posted in front of two homes in different areas of the city. Both advertised upcoming home auctions. We were horrified by the size of the signs and talked about how we hoped the people had already moved out and didn't have to suffer through that added humiliation.
We lost our business, and then (because we had spent all of our money trying to save it) our home in the upheaval following 9/11. We've been there. It's a nightmare.
Then we mused aloud about how fun it would be - if we had the money - to buy a foreclosed house at an auction and hand it back to the owner.
Just like Texan Marilyn Mock apparently did for a total stranger at a home auction Saturday... probably around the time we were having our little 'Santa' fantasy.
I was born in '48 and grew up in the time after WWII and the rapid growth of not only a Great Economic Expansion but the Envy of the World to the American Worker and our Products and Services. We had the power and wealth hungry who tried to suppress but we also had intelligent business minds and workers willing to fight that brought about growing wages, safety in the work place, respect for the worker, and so much more, which gave respect and expansion to not only the employer but the companies, The company owners, the executives, the worker, and for those public companies shareholders were all reaping the rewards of that wealth sharing, that's what built the strong and ever expanding middle class and helped some break out of that and join the upper crust of the wealthy. It was the Only Successful way a true capitalist society that can achieve and expand further. Decent expanding wages for a workers hard work and company dedication gives them the ability to purchase goods and services which in turn gives growth and prosperity to other companies and workers.
This is what this writer is pointing out, as others do
Actually, it has been part of the American economic system since its founding
What is the present day GOP trying to sell everyone with statements like this: "You can spread butter on toast, we can share the love, but we are not going to share the wealth," said the Republican gubernatorial candidate. And why are so many buying this crap?
|Have you been working harder and harder, becoming more productive all the time, only to see your wages, fail to keep up with that ever increasing cost of living?|
It's not your imagination ...
It's just the way our Economic System tilts ...
For example, check out these disturbing trends:
Real Median Household Income [Notice the Flat-line trend over the last 8 years.]