Tag Archives: Wall Street

Shoveling America’s wealth to the top


by Jim Hightower

As an old country saying puts it, “Money is like manure – it does no good unless you spread it around.”

Yet, America’s corporate and political leaders have intentionally been shoveling wealth into an ever-bigger pile for those at the top. They’ve gotten away with this by lying to the great majority, which has seen its share of America’s prosperity steadily disappear. Yes, they’ve told us, the rich are getting richer, but that’s just the natural workings of the new global economy, in which financial elites are rewarded for their exceptional talents, innovation, and bold risk-taking.

Horse dooties. The massive redistribution of America’s wealth from the many to the few is happening because the rich and their political puppets have rigged the system. Years of subsidized offshoring and downsizing, gutting labor rights, monkeywrenching the tax code, legalizing financial finagling, dismantling social programs, increasing the political dominance of corporate cash – these and other self-serving acts of the moneyed powers have created the conveyor belt that’s moving our wealth from the grassroots to the penthouses.

Not since the Gilded Age, which preceded and precipitated the Great Depression, have so few amassed so much of our nation’s riches. Having learned nothing from 1929’s devastating crash, nor from their own bank failures in 2008 that crushed our economy, the wealthiest of the wealthy fully intend to keep taking more for themselves at our expense.

Now, however, the people are onto their lies. In an October poll, two-thirds of Americans support increased taxes on millionaires, an end to corporate tax subsidies, and policies to more evenly distribute the wealth we all help create. This is rising egalitarianism shows the true American character, and it’s changing our politics – for the better.

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Wall Street Wankers


WARNING – If you’re easily offended, especially by “The F-word”, please skip this post.

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Dylan Ratigan (rightfully) Loses It On Air


Liberal media? HUH?

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The Crisis of Capitalism


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Wall Street Spirit / The 99%


Much thanks to DuncanR at THE MAD HATTERS blog for this great find.

Remember that this is a worldwide economic collapse. Although the problem(s) have their roots on Wall Street,

THE 99% includes people from all over the world.

Thanks to BIG EASY APPLE  for this video (below).

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Ten Years In Afghanistan


The U.S.-led Afghanistan war is 10 years old today. As Americans protest on Wall Street and even Wichita, the longest war in our history passes quietly.

On Oct. 7, 2001, President George W. Bush told Americans that “their patience would be tested in the months ahead.”

Ten years on, there are more than 10 times as many U.S. troops there as when the war began. And a majority of Americans now say the war is not worth fighting.

According to the Los Angeles Times, “Almost half of the population of Afghans is younger than 15 and have little or no firsthand memories of the day. Older Afghans seem to feel the war, which ended Taliban rule, has moved beyond its original intent.”

Although President Obama plans to withdraw 10,000 troops this year, few people know the facts.  Numbers like these;- $1.28 trillion,- 1,801 U.S. troops killed, 11, 200 Afghan civilians killed. These numbers, even when seen and heard, have little effect on people today.

Are we so desensitized by ongoing war, political bickering, and the world’s poor economy that we forget? 

Didn’t we go there with intentions to make the world a better place and help those oppressed by the Taliban?

Of course, I do not have the answers, only doubts and questions. I do know one thing in my heart; might, power and money do not make anyone’s point of view more correct than another’s, but only serve to hide the truth…. and, history repeats itself.

PRAY FOR PEA CE

This is a poster that hangs in my bedroom. It’s the real thing, printed in 1969.

For those readers who are not old enough to remember, there was something you don’t see today; real, honest reporting directly from the war-front & great journalism by people like Walter Cronkite, always accompanied by the nightly “body count”.

vietnam

Printed at the bottom: All statistics from Department of Defense – March 1, 1969

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Blunt and Frank


New theme song for “Occupy Wall Street”?

This was recorded in 1975, so it’s not exactly written for today’s protesters, but it sure does stand the test of time.

I’ve heard or read Shawn tell about different song’s lyrics, but not this one. Maybe it was written about the Savings and Loan Scandal. The Bush family did quite well being “bailed out” way back then, over 35 years ago!

Blunt And Frank

Mr. Blunt and Mr. Frank

Were standin’ in the halls of their 7 figure bank

Wonderin’ what in the world

They were gonna do for you

I can take the brunt

If you can take the flank

Explained Mr. Blunt to timid Mr. Frank

Wonderin’ what in the world

They were gonna do for you

We been stealin’ this money most every day

And ain’t nobody caught us in any way

But something’s tellin’ me

Now our goose is cooked

We been raisin’ our prices

On the kiddies ices

And the bedroom suites on the corner store

Don’t you think that they could go up some more?

Then with everybody jivin’

About how to be survivin’

We could bring ’em back down again

And it’s gone full circle

While the world bank wins again

Revolution no solution

To the government’s illusion

That the people are amusin’

With the prices that we’re usin’

And I think that they’re abusing

Everything that we try to do

Defamation to the nation

That is drowning in inflation

Immigration, isolation is a useless tabulation

To the calculation that the world

Is gonna want to come to you

So people in distress gonna worry nonetheless

‘Bout the monetary mess from an educated guess, never really blessed

I think we must confess it now

So people jump and shout,

Everything is out

And I’ve said what I have to say

Everybody sit back

While I get ready to play

Where you gonna go

When the people gonna know

That they’re ripping us off again

Right back down

To the same old hole we been in

Bet your bottom dollar

That you’re really gonna holler

When your friends turn you down again

Not a thin dime

To keep in you in your time of men

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With Poverty on the Rise, this is no Time to Slash the Safety Net


The tea party and its ilk offer us only cold cups of bitter tea while serving up fountains of champagne to the super-rich, Wall Street, and big corporations.

Karen DolanBy Karen Dolan

The increasingly extreme conservative ideology pervading Congress and the tea party is infused with a dogmatic creed of rugged individualism, used to justify policies that benefit only the super-rich and large corporations, while hurting — even killing — the rest of us.

As Sen. Bernie Sanders (I-VT) points out, living with economic hardship in this country means an early death. Rugged individualism works for those individuals lucky enough to be born with silver spoons in their mouths. For those unlucky enough to be born with a steel shovel in their hands…well, data shows they’ll die about 6.5 years before their silver-spoon peers do.

(martnpro / Flickr) Poverty, which the government defines as a family of four eking by on less than $22,113 a year, is soaring, and American children are suffering the most. In the world’s wealthiest nation, the Census Bureau recently revealed that more than a quarter of our children aged 0-5 are poor. The number of people young and old in poverty grew by 2.6 million, up from 43.6 million to 46.2 million. The poverty rate is the highest it’s been since 1993, and the number of people in poverty is the greatest since records began 52 years ago.

Meanwhile, as the poor get poorer, the middle class is shrinking.

Fortunately, our social safety net has kept millions more American children and adults out of poverty. Since the Great Recession began, government programs such as unemployment insurance, food stamps, and the Earned Income Tax Credit have played a critical role in keeping the poverty rate from rising even more dramatically.

In 2010, 3.9 million Americans, including 1.7 million children, were lifted out of poverty because of food stamps, while 3.2 million Americans were kept out of poverty by unemployment insurance benefits. Social Security provided a safety net from poverty to 20.3 million of us.

Purveyors of right-wing nonsense about government spending impoverishing our children and the middle class miss the big picture. Although those lacking health insurance increased from 49 million in 2009 to 50 million in 2010, and employment-based health coverage continued to decline, children were protected from this downward trend because Medicaid and the Children’s Health Insurance Program (CHIP) covered them. Additionally, President Barack Obama’s health care reform act, so much maligned by the right wing, enabled the number of insured 18-24 year-olds to actually rise by half a million last year.

What’s needed is more public investment, not less.

Obama’s American Jobs Act is a good start. It shows that the White House recognizes that we need public money invested in jobs that won’t just employ people, but will also fix our crumbling infrastructure. However, his calls for Congress to approve new so-called “free-trade” agreements with an anti-job track record is counter-productive.

Plus, we need a much larger-scale public effort to directly create green jobs that will quickly employ people, provide good wages and benefits, and reduce our carbon footprint at the same time. If we were to bring home the billions of dollars now being spent in devastating and costly wars overseas, we could actually pay for the significant investments that must be made at home.

We taxpayers are paying $1 million per year per U.S. soldier deployed in Afghanistan. For that same money, we could bring that soldier home, employ her in a well-paying green job for $50,000 per year, and similarly employ 19 more unemployed Americans.

There’s a way out of this misery. The tea party and its ilk offer us only cold cups of bitter tea while serving up fountains of champagne to the super-rich, Wall Street, and big corporations.

Don’t drink the tea. Instead, fight for a way to end our unemployment crisis and for our children to be healthy and able to participate in a thriving future.

Karen Dolan is a fellow at the Institute for Policy Studies, a community of public scholars and organizers linking peace, justice, and the environment in the U.S. and globally. www.ips-dc.org

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Tea party Congress: “Power to the Corporations”


Wednesday, September 7, 2011 |  by Jim Hightower

Good grief – the genuine populist fury of grassroots tea partiers is now being perverted into anti-populism by the very tea party Republicans they elected to Congress.

Tea party House members have become the Koch brothers‘ plutocratic dream. They’ve voted to keep giving a $4-billion-a-year government subsidy to Big Oil, to privatize and slash Medicare, to let Wall Street banksters keep ripping off consumers and investors, and to put Social Security on the congressional killing floor. Is this what grassroots voters meant by “Power to the people?”

Take tea party Congressman Austin Scott. Only, you can’t – he’s already been taken by corporate lobbyists. This Georgia Republican won election last year by waging a full-throated campaign against foreign workers who enter the country illegally. Throw ’em all out, he ranted – those jobs belong to U.S. citizens. But, curiously, Scott did not applaud on July 29 when Legal Service lawyers won a case to stop a corporation in his district from illegally firing U.S. workers and replacing them with Mexican migrants.

Far from applauding, this tough-on-immigrants tea party stalwart abruptly shifted sides, favoring the corporation’s illegal hiring practices against his own constituents who’d been thrown out of their jobs. Indeed, only three days after Legal Services won its case against the corporation, Scott rose up on his hind legs and introduced H.R. 2774, a vindictive, one-sentence bill that says: “Be it enacted… in Congress assembled, that the Legal Services Corporation Act is repealed.”

Scott’s hypocrisy is as subtle as a hammer to the head: He professes to be for the people then tries to kill a program that helps poor people pursue justice against corporate elites. “Power to the Corporations” is his motto.

“How Rep. Austin Scott betrayed his Tea Party roots,”www.washingtonpost.com, August 9, 2011

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