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Archive for November 27th, 2011

Here Comes the Capital Strike

Posted in Main Blog (All Posts) on November 27th, 2011 5:41 am by HL

Here Comes the Capital Strike
From his seat in Congress, House Speaker John Boehner announced in mid-September that American business owners would continue to hold the nation’s wealth (and thus the public welfare) hostage until government granted them the “low-tax, deregulated world they wanted,” writes journalist and author Thomas Frank in Harper’s online. Yes, in response to the murmurings of an ungrateful working class, our brave captains of industry have gone on strike. The whims of prevailing economic power, not a concern for the common good, should determine the amount of comfort, security and protection allotted to common Americans. In reviewing the ruling class’ attempts to wage “capital strikes” during the New Deal era, Frank makes it clear—as Truthdig’s own Chris Hedges so often has—that the current imbalance of wealth in America makes political blackmail possible again. For the time being, there is no way to vote against the interests of the 1 percent. —ARK Thomas Frank at Harper’s: There were two distinct “capital strikes” during the administration of Franklin Roosevelt. The first, which is still referenced on the website of the Securities and Exchange Commission’s historical society, consisted of a decline in new stock and bond issues in the first years of the New Deal. The second was a more general revolt of business interests, which were supposedly struggling to preserve laissez-faire political conditions by withdrawing investment from the economy in 1937, sabotaging the recovery and the chances of President Roosevelt. Secretary of the Interior Harold Ickes delivered a ferocious iteration of this theme in December of that year, warning that “the United States is to have its first general sit-down strike — not of labor, not of the American people — but of the sixty families [a then-popular term for what we now call “the 1 percent”] and of the capital created by the whole American people of which the sixty families have obtained control.” Should Americans yield to the demands of the walkout, Ickes warned, “then the America that is to be will be a big-business Fascist America—an enslaved America.” … We live in a time when political blackmail works: The bank bailouts and bonuses of 2008 and 2009 were done on an emergency basis, lest the geniuses of Wall Street shrug off their burden and abandon us to Great Depression II. The Republican strategy during last summer’s debt-ceiling fight was simply to point a gun at the global economy’s head. And now, in 2011, the Speaker of the House tells us not only that capital strikes happen, but that the capital strike is happening now. John Galt lives, reader, and your task is to bow down and hail the Big Business America Harold Ickes feared — or be dropped forthwith into the poverty and darkness you no doubt deserve. Read more

From his seat in Congress, House Speaker John Boehner announced in mid-September that American business owners would continue to hold the nation’s wealth (and thus the public welfare) hostage until government granted them the “low-tax, deregulated world they wanted,” writes journalist and author Thomas Frank in Harper’s online.

Yes, in response to the murmurings of an ungrateful working class, our brave captains of industry have gone on strike. The whims of prevailing economic power, not a concern for the common good, should determine the amount of comfort, security and protection allotted to common Americans.

In reviewing the ruling class’ attempts to wage “capital strikes” during the New Deal era, Frank makes it clear—as Truthdig’s own Chris Hedges so often has—that the current imbalance of wealth in America makes political blackmail possible again. For the time being, there is no way to vote against the interests of the 1 percent. —ARK

Thomas Frank at Harper’s:

There were two distinct “capital strikes” during the administration of Franklin Roosevelt. The first, which is still referenced on the website of the Securities and Exchange Commission’s historical society, consisted of a decline in new stock and bond issues in the first years of the New Deal.

The second was a more general revolt of business interests, which were supposedly struggling to preserve laissez-faire political conditions by withdrawing investment from the economy in 1937, sabotaging the recovery and the chances of President Roosevelt. Secretary of the Interior Harold Ickes delivered a ferocious iteration of this theme in December of that year, warning that “the United States is to have its first general sit-down strike — not of labor, not of the American people — but of the sixty families [a then-popular term for what we now call “the 1 percent”] and of the capital created by the whole American people of which the sixty families have obtained control.” Should Americans yield to the demands of the walkout, Ickes warned, “then the America that is to be will be a big-business Fascist America—an enslaved America.”

… We live in a time when political blackmail works: The bank bailouts and bonuses of 2008 and 2009 were done on an emergency basis, lest the geniuses of Wall Street shrug off their burden and abandon us to Great Depression II. The Republican strategy during last summer’s debt-ceiling fight was simply to point a gun at the global economy’s head. And now, in 2011, the Speaker of the House tells us not only that capital strikes happen, but that the capital strike is happening now. John Galt lives, reader, and your task is to bow down and hail the Big Business America Harold Ickes feared — or be dropped forthwith into the poverty and darkness you no doubt deserve.

Read more

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PHOTO: President Obama & Bill Murray Meet & Share A Laugh

Posted in Main Blog (All Posts) on November 27th, 2011 5:40 am by HL

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Glenn Beck’s Network Attempts Conservative Daily Show Knock-Off

Posted in Main Blog (All Posts) on November 27th, 2011 5:39 am by HL

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A Kansas teenager got in some trouble with her school for comments she posted on her Twitter account — in which she claimed to have trashed Gov. Sam Brownback (R) to his face during a field trip.


Rove’s January surprise?

Posted in Main Blog (All Posts) on November 27th, 2011 5:37 am by HL

Rove’s January surprise?
The media loved the tea bagger’s antics but were quick to report the dangers to health and safety presented by the Occupy Protests. Why the difference?


The Great Rope a Dope trick

Posted in Main Blog (All Posts) on November 27th, 2011 5:36 am by HL

The Great Rope a Dope trick
Barack Obama learned a political trick from Muhammad Ali called Rope a Dope. For you youngsters, this refers to the epic Rumble in the Jungle Heavyweight fight against George Foreman in 1974. Here is the Wikipedia explanation. The rope-a-dope is…



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Big Oil Doesn’t Need Handouts
Here’s a scary fact: Last year, the biggest five oil companies alone scored $76 billion in profits. And here’s an even scarier fact: Last year, the oil industry received more than $4 billion in tax breaks. These numbers don’t lie…

‘Pennies From Heaven’
When I joined Monitor Company (now Group) in the spring of 1992, the first party its directors, my new?colleagues,?invited me to was at Mitt Romney’s mansion in Belmont. Romney was at the time still with Bain Capital, but his political…


Open Thread Plus Cartoon of the Week

Posted in Main Blog (All Posts) on November 27th, 2011 5:35 am by HL

Open Thread Plus Cartoon of the Week
Opine away or pine away or ….

Opine away or pine away or ….

Occupy Oklahoma City Mic Checks Wal-Mart On Black Friday
Occupy Oklahoma City took aim at corporate greed at a Wal-Mart on Black Friday and greeting customers with their very own “Mic Check.” The protesters noted that Wal-Mart’s CEO makes an enormous salary while its everyday employees are notoriously underpaid. Watch it:

Occupy Oklahoma City took aim at corporate greed at a Wal-Mart on Black Friday and greeting customers with their very own “Mic Check.” The protesters noted that Wal-Mart’s CEO makes an enormous salary while its everyday employees are notoriously underpaid. Watch it:


President brings daughters to bookstore to promote small-business holiday shopping

Posted in Main Blog (All Posts) on November 27th, 2011 5:34 am by HL

President brings daughters to bookstore to promote small-business holiday shopping

WASHINGTON — President Barack Obama has pitched in to help small businesses get into the holiday shopping season.

The president took his daughters, Malia and Sasha, along on a shopping run to a bookstore a few blocks from the White House.

He says he made the visit because it’s “small business Saturday” and he wanted to support a small business.

Read full article >>

Rep. Charlie Gonzalez to retire

Rep. Charlie Gonzalez (D-Texas), the chairman of the Hispanic Caucus, is retiring in 2012 after 14 years in office.

“I still find the job hugely rewarding, but the demands pull me somewhere else,” Gonzalez told the San-Antonio Express News. “[F]inancially I would like to be productive and have the resources to make a better life.”

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Democrats post big fundraising numbers for 2012 House races

Democratic leaders raising money to be spent on the most competitive House races in next year’s elections are doing something remarkable: outraising their Republican counterparts, despite a historic drubbing a year ago that left Democrats in the minority.

House Democrats have raised $52.1 million to the Republicans’ $48.7 million. The difference is small, but it’s significant given that no minority party has been able to get such an edge in fundraising since the 1994 election cycle.

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Newt Gingrich Inc.: How the GOP hopeful went from political flameout to fortune

Anyone who doesn’t believe in an afterlife must not live in Washington. Rarely, however, has reincarnation been so lucrative as it has for the man who now tops some polls for the 2012 Republican presidential nomination.

Former House speaker Newt Gingrich transfigured himself from a political flameout into a thriving business conglomerate. The power of the Gingrich brand fueled a for-profit collection of enterprises that generated close to $100 million in revenue over the past decade, said his longtime attorney Randy Evans.

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Government Should Increase Fuel Mileage Standards

Posted in Main Blog (All Posts) on November 27th, 2011 5:31 am by HL

Government Should Increase Fuel Mileage Standards

Is This the Euro’s Last Stand?
Michael Schuman, Time
Who has time for pleasantries when the fate of Europe and the global economy is at stake? After Mario Monti, an economist with little experience in the rough world of Italian politics, was sworn in as the country's new Prime Minister on Nov. 16, German Chancellor Angela Merkel sent him a congratulatory letter that minced no words. With Italy, the euro zone's third largest economy, gripped in a debt crisis, Europe was counting on him to repair his country and save the euro from disaster. “There are many hopes and expectations set on you,” she wrote. “It would behoove…

Team Obama Maps Out Path to Victory
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President Obama sure looked like a two-term president in November 2008 as he presided over an electoral map more dominant than many thought possible after two ultra-polarized contests in 2000 and 2004. But with a weak economy that shows little signs of serious improvement before election day, things are going to be a whole lot tougher this time around. Will his wide playing field from 2008 hold up again four years later?The good news for Obama is that even though he’s heading for a tough fight, few of his 2008 swing states have moved off the board entirely. Indiana, a narrow and…

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