Recession

Super Congress in Session - More of the Cruel Charade


Wall Street and the big banks owe $1.5 trillion for the bailout (at least).  The Super Congress needs to cut $1.5 trillion over ten years.  Get the money from Wall Street and cancel the Super Congress.  Problem solved.

Michael Collins: Questions for The Money Party - Negative Job Growth for 11 Years

The Money Party is a very small group of enterprises and individuals who control almost all of the money and power in the United States.  They use their money and power to make more money and gain more power. It's not about Republicans versus Democrats.  The Money Party is an equal opportunity employer. It has no permanent friends or enemies, just permanent interests. Democrats are as welcome as Republicans to this party. It’s all good when you’re on the take and the take is legal. Economic Populist

Negative job growth for eleven years is the best evidence concerning our economic troubles.  There were 135 million jobs in 2000 for a workforce of 144 million.  Today, there are 139 million jobs for a workforce of 154 million.  That represents negative job growth when you factor in population growth.

The "skills shortage" lie on unemployment DEMOLISHED


Robert Oak at Economic Populist has rebutted the notion that hiring is stalled due to a "skills shortage." The latest news from the masters of disaster is that there are 5 million jobs in the United States open because of a skills shortage. Not so! as Oak skill fully demonstrates as he demolishes that claim empirically.
See: Blame Employers for the Jobs Crisis - Economic Populist

There is no skills shortage, there never was a skill shortage. There is a shortage of good employers who do not discriminate, age discriminate, ship jobs to India, China, Brazil and treat their workers like cannon fodder. There also is a shortage of jobs, pure and simple. Put U.S. workers first. Demand these employers quit their inane, harsh, wage repressing, discriminatory labor practices. Put a few of of these traitorous employers in jail and sue 'em. Deal with trade and offshore outsourcing, invest in America and Americans. Then and only then will we might actually get somewhere to putting people back to work. Robert Oak

Why Does Congress Hate America?

Michael Collins

Oh, it's just that Collins guy mouthing off again.

Actually, I was far too easy on Congress yesterday in Lawless Nation - Congress.

Here's why: HR 3808 The Interstate Recognition of Notarizations Act of 2010

The bill is the response to the events outlined in a story that Numerian scooped on foreclosure problems. The banks are in big trouble. They failed to follow the law and rules in handling mortgages. Instead of foreclosing on home owners, those upside down and under water can consider strategic defaults on the mishandled notes. Legal efforts have reached a point where there's a "tsunami of legal action against mortgage servicers" as Tyler Durden calls it.

Ecomomists Warn Obama on Deficit Reduction Scam

Michael Collins

Three hundred economists released a letter to President Obama today with one message: focus on jobs, not on the deficit. new deal 2.0

Don't kill jobs and growth in the name of deficit reduction. Statement and 300 endorsers.

Open Thread - Olympic Recession

We'll start off with a little humour from a transplanted Canadian and an official Ambassador for the Vancouver Olympic Games, Stephen Colbert, on an odd Olympic recession and the results:

The Colbert Report Mon - Thurs 11:30pm / 10:30c
Exclusive - Zach Lund Outtakes Pt. 3
www.colbertnation.com
Colbert Report Full Episodes Political Humor Skate Expectations

A recent snapshot of the Olympics going on in Vancouver:

Olympic City Tries To Rise above Recession

“You have to predict the unpredictable”, says Dave Cobb, deputy chief
executive of Vanoc, the committee that has put together the 2010 Winter Olympics.

Were it not for the unpredictable, the games, whose opening ceremony
took place late on Friday, might be remembered as a model of good
housekeeping and environmental stewardship.

The sporting venues
were built on time and on budget. A new subway line links the airport
to the city centre. The athletes’ village, with a view over one of
Vancouver’s many picturesque waterways, sets high standards in energy-efficient construction.

However,
unforeseen events have taken the shine off these accomplishments. An
unprecedented economic boom pushed up labour and material costs during
the early preparations. Then the recession hit. Most recently, the
weather has dampened the Olympic spirit. Vancouver has had its warmest
start to a year ever, and rain has kept revellers off the streets for
the past few days.

The recession hits home for Team USA:

Where are the Populists?

Michael Collins

"There
are two ideas of government. There are those who believe that if you
just legislate to make the well-to-do prosperous, that their prosperity
will leak through on those below. The Democratic idea has been that if
you legislate to make the masses prosperous their prosperity will find
its way up and through every class that rests upon it.
William Jennings Bryan, 1896

Populism is broadly defined
as "political ideas and activities that are intended to represent
ordinary people's needs and wishes." The majority are  deliberately
held down by the financial elite.  Removal of the financial elite is
the vehicle to realize the "people's needs and wishes." (Graph)

The
statement from William Jennings Bryan is pure populism. It becomes less
pure as he proceeded with his speech. He used a metaphor of burning
down the nation's big cities since they were, he claimed, the
stronghold of the financial elite and support for the gold standard for
currency.

In practice, populism almost always entails anger and resentment.

"Capitalist Tool"

promoted by roxy. Originally posted 2010-01-27 17:20:57 -1000

Michael Collins

Just a few cynics doubted the magnificent procession of then Senator
Barack Obama to the highest office in the land. He was the redemption
of our past sins, the proof that we were a better nation than we had
been. After all, race has been at the center of American politics since
Bacon's Rebellion was crushed in 1667 but we were  moving beyond that.  And we did.   Race was set aside for most of those who voted.

Then the Financial Tsunami Hit... Frontline report

This is a front line report on the class war.   Edwin Girdle (The Colonel)
had an excellent business going until he needed a loan after the shock
of 2008.  The banks that got billions weren't lending and there was no
help anywhere else in the "safety net."  His story is compelling and
clear.  Noted at Jerome Doolittle's blog at SmirkingChimp.com who first posted this and reprinted with Mr. Girdle's permission.
Michael Collins

For three years I owned and operated a mini-market/gas station in a
Cincinnati, Ohio suburb. I bought an already existing store using all
the assets I had, including my 401K funds, after being down-sized from
my middle-management career of 22 years (in one of the many industries
which the U.S. can no longer keep onshore).

Things went along fairly well and the business grew as I acquired a
large clientele of regular customers from the local construction
companies, other business owners, and the Ford plant. My girlfriend and
I worked 90+ hour workweeks and, along with help from a few part-time
employees, we operated 16 hours a day, 7 days a week, 365 days a year.
In other words, I was a real practitioner of the kind of
free-enterprise capitalism that our windbag politicians and business
leaders praise to the heavens while making sure it doesn’t apply to
them.

The G-20 Announces the "New World Order"

bailoutpeople.org

Citizens Respond

Michael Collins

PITTSBURGH
-- A new world order is emerging at the G-20 Summit in Pittsburgh with
a decision by the group to become the premier coordinating body on
economic issues.  Radio Free Europe, Sep. 26, 2009

Mesmerized by Melodic Rhetoric: Guns vs. Hope

Mesmerized by Melodic Rhetoric: Guns Versus Hope

Joel S. Hirschhorn

"I've been through Y2K and I've been through 9/11. I have never seen people so afraid as what we are seeing right now,” said gun shop owner Scott Moss recently. With more guns per capita – easily 250 million privately owned ones – and certainly more people in prisons than any other democracy, the intriguing question in this still worsening economic calamity is: If Americans found the courage for political rebellion now, would it preempt massive criminal violence, social havoc and armed rebellion later?

Do Libertarians Have Answers?

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

Consumers Can Fix the Economy

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.