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02:07 AM on 08/10/2010
The two parties are in reality one party beholden to the corporate interest(think 'cabal' here)that have become a 4th untouchable branch of the government with neither loyalty to nor responsibility for anyone or anything. Don't get me wrong, we need our corporations but they shouldn't be in the business of government. Now, a word about that; our 'representatives' have never been more tone-deaf and insulated from their constituents and if you think your vote really counts, time to put down the bong. This was the 'military-industrial complex' Eisenhower spoke of in the 50's. Obama, Bush, whoever don't really matter as they're just following game plan. It would be best if we all realize what's at stake and who are the real enemies of this country rather than just sniping at the other's side. Time to stop the infighting and bickering, grow up, grow a set and pick your weapon because if we allow this to continue, the third world will be looking good in comparison. JMHO.
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RudyHaugeneder
01:31 AM on 08/10/2010
Al Jazeera's reporter in Athens has got it right.
" The city is baking, and the Greeks, who know better, have left. . .The traffic is sparse, parking spaces uncharacteristically easy to find.There are no queues in banks or post offices. And then there are the roof-top cinemas, where, surrounded by potted plants and dozing cats, you can watch an old classic movie, drink a cool beer, and watch the moon rise over the Acropolis . . .try finding anybody important in Greece at their desks over the next fortnight. Impossible.
Politicians, trade unionists, students and journalists have called a truce on their interminable arguments, and retreated en masse to the islands. This is a county that still works according to older, more genteel rhythms, where high summer is a time for recharging with family, eating and drinking, and swimming in the cool waters of the Aegean.
The Americans like to sneer at we Europeans. . . But it will take more than an economic crisis to convince people living on the seductive shores of the Mediterranean that August is a time to do anything too strenuous. . .for now, the bad news is coming from the other side of the Atlantic...in America
So, here's some advice from lazy Greece to all those Americans, many of whom tend to see going on vacation as evidence of moral weakness. Slow down, take a break, and get out of the office. It's too hot to work.
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Bluemax1
As thoughts manifest your Universe is created.
01:18 AM on 08/10/2010
"With the bluff of wealth over in March 1933, almost all business in America stopped. On the inauguration of Franklin Delano Roosevelt the emergency was so absolute that Congress voted unanimously for whatever corrective measures the New Deal administration prescribed."

Buckminster Fuller

The corporations who have no conscience have temporary control of our government and would completely destroy this economy for their profits. What would be thought of a person with no conscience and what prison might they end up in?

The corporations do not own this country because it belongs to we the people. We can at any time quit buying whatever they are selling. It would not be easy but if our government persists in enabling these criminals then we could exercise our power. We can choose to purchase from reputable companies and ones that produce products made in America. The idea to use small local banks and credit unions that has grown in popularity is a good start. Change will come and the balance of power is going to shift as soon as we take our power back. We will then have to institute ethics into the school system, colleges, and corporations with the hopes that history does not keep repeating itself.
01:18 AM on 08/10/2010
Interesting how the inequality curve starts going up just when Reagan was elected
02:09 AM on 08/10/2010
It is also when countries like China, India and Southeast Asia and South American started to demand their part of the world pie....I'm not saying there is a zero sum gain but if those countries are to grow we have to decline....if they flood the employment market with cheap labor our wages are going to be forced to equilibrate. We need to look beyond our borders to the real source of our long term decline..
06:14 AM on 08/10/2010
That assumes we maintain our stratospheric level of inefficiency.

There are sufficient resources on this tiny Earth for all her inhabitants to flourish -- though not with rampant waste and hoarding.
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01:15 AM on 08/10/2010
The main culprit of America's financial woes is the transfer of savings from the pension plan to the 401k. Investing our entire countries future in Wall Street was the greatest mistake of our lives. This fundamental change in the way we perceived our jobs was the beginning of the end. This shift from succeeding together, to succeeding alone has lost us our entire manufacturing sector, our public education system, our pride in our work and our ability to perform as a group. Once we started competing against each other instead of supporting each other we were doomed to failure. Seems that every innovation becomes corrupted almost overnight. New ideas are purchased, competition is stifled and progress is halted all because of the desire for individual dominance. Our country is dying.
08:58 AM on 08/10/2010
Investing in Wall Street at the same time those investments stopped being about fueling companies that actually produced wealth and started being about firms that produced nothing but "profits" on paper.
01:13 AM on 08/10/2010
The cuts are tragic. In my work lately I've been dealing with PA not having enough funds to provide emergency grants to tide people over in public housing because their unemployment has run out.
We're going to have tent cities in Central Park before long.
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omega777
01:07 AM on 08/10/2010
George Carlin -"Who Really Controls America"

http://www.youtube.com/watch?v=acLW1vFO-2Q&feature=related
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12:53 AM on 08/10/2010
I can't even believe that the tax cuts for the wealthy is even getting debate. It's horrific.
12:44 AM on 08/10/2010
The profoundly astute book, Global Reach, projected the "Latinarmericanization of the United States" in 1973. Solid academic analysts have documented the "hour glass" economy for over two decades. Anyone who sneered at the shutdowns of steel mills, foundries, machine shops, auto manufactureres and anyone who ran to buy imports made this happen. The desire for white collar, yuppie jobs and the derision at blue coller working people set in motion the dominoes that fell, taking us ALL down with them. Multinational corporations set up a global situation that was not unlike 1929 - over production and under consumption. If America wishes to be strong, it must demand that the private sector hire and pay well. People who make things consume those things. People who shuffle paper do not produce value and consumer way too little. Do we want national stability or a handful of uber rich with the rest of us struggling? Which breeds national security and which promulgates increasing concentrations of riches and cycles of boom and bust. Your choice.
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FactsvsFear
I'm just saying!!! Gosh
12:52 AM on 08/10/2010
So right and so sad:(
lesleypalmer
Happy to be alive.
01:03 AM on 08/10/2010
This is a very good post. Fanned.
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FactsvsFear
I'm just saying!!! Gosh
12:41 AM on 08/10/2010
It hurts. It hurts real bad. What are we doing to ourselves? And to think that there are millions of middle class and poor people across this country that actually fight to keep things going this direction. I hope one day we really wake up and see what a massive con was played on the American people by so called conservatives. Hopefully before it's too late. But I think it already is. South American third world living here we come.
01:40 AM on 08/10/2010
Too late. United we would stand and divided we will fall!
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Timothy Knight
06:17 AM on 08/10/2010
Maybe divided we stand. I know I would like New England to pull out of the Union.
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gerald4
Author "NATIONAL WEALTH" by Spencer
10:40 AM on 08/10/2010
The Democrat and the Republican members of the US congress and the US Senate during the past 40 years that created the "Free Trade" laws and other anti-business laws that caused US businesses to move their US factories and the associated jobs for US citizens overseas and lay off all of the US employees.
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12:35 AM on 08/10/2010
The only surprise is the GOP.

They want to do nothing unless paid for YET want to add to the deficit by extending the bush tax cuts. You know because the richest people in this country are the ones relay hurting. After all they need to buy a 6th vacation home while the rest of the nation suffers.

On top of that WHY IS NO ONE TALKING ABOUT THE MONEY BEING SPENT IN IRAQ AFGHANISTAN AND PAKISTAN!?!?!? But that's not enough spending in foreign lands the GOP wants to invade Iran!

Im so sick of everyone including the media only looking at the band-aid solutions instead of the real issues! The wars bankrupted this nation, that and deregulation. NOTHING MORE!

But im sure the banking cartel planed on this even before the USSR had completely fallen.
12:46 AM on 08/10/2010
Wars alone did not do this, and the failure to see the pattern of deindustrialization that decimated the middle class BEFORE those wars added to the instability is foolhardy. Even if we ended all defense spending, we would not change the private sector that doesn't make a move without subsidies or a vastly overpaid management that rakes off CAPITAL into their own pockets. This is way more complex than just focusing on war.
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12:56 AM on 08/10/2010
Well you did not read my post because no where did I say war alone. look for the "that and" part!
I see schools being closed, police fire and emergency workers being laid off in favor of WAR. I see trillions of dollars we spent on bombs to drop on people who had nothing to do with 911. I see the conservatives railing for a Iran war. Yes war is part of the issue.

But No its not the entire issue as I said. How are we going to create jobs? We outsourced all of out jobs due to deregulation! No corporation is going to pack up and move back to the US. Its NOT GOING TO HAPPEN! All our tech/customer service jobs are over seas. I cant tell you the last time I called into customer service just to get someone form India who I can barley understand!
01:46 AM on 08/10/2010
The media are expert propagandists who talk about non issues to keep us distracted while the elite run the con. The problem with America is we've been thinking we were leading the good life and after they set us up as the "mark", we took the bait and here we be. I'm pulling in my money and saving what I got for the long road ahead. I suggest people who are going under with the boat decide now if they want to try to save themselves or go down with the sinking ship. Stop paying on the card everyone and save your money. The credit card companies have screwed us and so has the bankers. Time to get on that life boat and save yourselves.
12:34 AM on 08/10/2010
Come on people, if it weren't for income inequality we wouldn't have The Dollar Tree, Keeping Up with the Kardashians, mountaintop razing, Donald Trump, self-settled trusts, Pat Robertson or lip implants! Repeal that death tax, baby!
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Barringtonmorr
Democracy: Where any two |diots outvote a genius
12:13 AM on 08/10/2010
I'm young(22) so I may lack the historical perspective and wisdom to speak but we are about to cause our own demise.

It'scomforting to blame corporations for being so heartless but a business is for profit. The blame lies in us for not holding our politicians-or-ourselves accountable. We make ourselves feel like we're powerless and believe it. We're a nation of fearful procrastinators because we believe that the devil we know is better than the devil we don't know. Maybe this time we won't have a second chance: no revolution,no new-minds (our education system= embarrassment), there's no collective will (The T-Party is not the answer because their ideas of democracy are tainted and foolish), there are no tools to createjobs (unlike during the first Depressions when the war and automotiveindustry saved us).

We worry about the government taking over the private sector. I don't know what world some of us livein? The private sector has controlled Americans since Reagan. Still we blindly follow placing our priorities in the wrong places. I figure that the tale of man is the struggle between the HAVE-NOTS and the HAVE-NOTS with the people who have everything controlling the struggle. If someone could focus our attention on 'crap' issues they could Houdini money out of our wallet so fast we would've thought we made money. It's up to my generation tostand up and challenge every false idea instilled in us. America deserves more than what we are giving her.
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elfish
12:26 AM on 08/10/2010
I'm coming from the opposite end of the age spectrum (64) but you just posted and excellent comment!!! Keep thinking for yourself, it will take you a long way.

Fanned #26.
12:51 AM on 08/10/2010
You ARE naive if you think that the drive for profit is somehow noble. Read "The Great Risk Shift" to discover that YOU pay for every risk corporations take with vast subsidies to prop up their rotten and self serving decisions. The private sector has indeed controlled our nation, and government has been the handmaiden of its rapacious return to the Golden 90s - the 1890s and robber baron excess. We, private stockholders AND government - allowed managers to rip off capital as well as profits, put it into their own pockets, then subsidize the corporate malfeasance with tax dollars to prop them up when they falter and even fairl. Every time a corporation closes - YOU pay for it. They do an accelerated write down and get CASH - tax free - back for FAILING. We can change those laws, but we have weak willed Dems and rapacious Republicans all slavering to support the corporate rake off of the American taxpayer. Get SMART people - we need to end this giveaway to the American ruling class.
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Barringtonmorr
Democracy: Where any two |diots outvote a genius
01:49 AM on 08/10/2010
Choicelady read my comment one more time ... in no way did i convey that the drive for profit is noble nor did i convey that it is immoral. People can be capitalist but when people become slaves to the money they make they destroy America from the inside. We worry about terrorist destroying america we should first worry about how we treat our own system and each other. The way we strive for profit is destroying AMERICA.

Maybe its too late to 'get smart' there is so much against the middle class. A lot of the time the middle class has conflicting ideas itself. Healthcare reform will help lessen the number of cases of bankruptcy do to healthcare bills. Financial reform stops the corporations from screwing the consumer over.

You need money to fight corporate interest if you're the middle man. With the complete implosion of the middle-class there is no way to fight back. I don't like to think so pessimistic but the burden is big for my generation. I'm not even talking about taxes. I'm talking about the policies and loopholes in place that make the consumer and employee powerless.

I remember that Marx said that capitalism leads to something I will dare not say. If this countries becomes 98% poor and 2% rich what do you call that? There are few left in the middle.

Thanks for calling me naive; it didn't hurt. Disaster Capitalism by N. Klein is also good literature
11:46 PM on 08/09/2010
On point 7 (financialization of the economy) - in the end, it is countries that make things - real, tangible things - that garner wealth, stability, and growth of their middle class.
11:47 PM on 08/09/2010
Want fries with that?
12:51 AM on 08/10/2010
Absolutely!
11:43 PM on 08/09/2010
Notice that when income inequality as expressed in the graph was the lowest, we had the greatest expansion of the middle class ever.
11:44 PM on 08/09/2010
Funny thing about that, huh?
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irishgramm
12:14 AM on 08/10/2010
Also, notice that the two largest spikes were 1929/30, GREAT DEPRESSION, and 2007/8.GREAT RECESSION......makes you think the American people have a severe learning curve, i.e., they don't learn.......greed and the lust for the almighty buck and the power that comes with obscene wealth, will destroy this country if we do not educate ourselves !!!!!