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Obama mocks Mitt Romney for calling Ryan budget "marvelous"

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Obamaville

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Network - Money speech

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NOTES

Do not click on anything that says Xvid needs to be installed as it is adware that is difficult to remove! If you want to stop ads from showing up then install this extension for Firefox. Install SVP to enable smooth 60 FPS video playback of streams! Windows Media Player can be visually enhanced to automatically display in higher visual quality by downloading and installing the PixelFusion plugin for WMP here. When using PixelFusion, go to the properties section for plugins in WMP and set PixelFusion to always on and enable automatic lighting control.

If you have many streams which are not loading, double check your firewall rules settings.

If you get an R6034 C runtime library error when trying to watch certain streams and/or Firefox freezes, do the following to fix. Delete the "C:\Program Files\Mozilla Firefox\plugins\Microsoft.VC80.CRT" directory with all included files. Just renaming the directory will not fix the problem, you have to completely delete the directory. 

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Stop Dave, I'm Afraid

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Rival views of Occupy Wall Street

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Hank Williams Jr. Comments Prompt ESPN to Drop Song; Fox News Analogy Matches Obama with Hitler

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This poem is dedicated to Breeda my true love!

Breeda, I love you! With every fibre in my being. Everywhere I look I see you. In a flower. In the setting sun and the rising moon. In the beauty of happiness. When I see you I know that it is love, simple and true. You shine with a beauty that brightens my very soul. Your eyes, your smile, your kindness, and your inner beauty mesmerize me. And bring happiness to my heart and fulfills my deepest longings. From the moment I wake up. From the minute I go to sleep. My thoughts, dreams, and hopes are filled with you. And I let myself be carried aloft, in an escape of sublime joy. It is not difficult. It is not work. For your love is that of sweetness and life itself. I hope that we will always be together. I am so thankful for such an exquisite love. Such love is so rare, that it makes everything in life worth living. This is my love for you!

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Both Republican and the Democrat approaches towards fixing the economy have gotten it wrong!

As noted economist James K. Galbraith highlights: "This crisis was caused by financial collapse, rooted in massive banking fraud. The financial system is our economic motor and when it fails it cannot be revived simply by pouring money on it, any more than a wrecked reactor can be restarted just by adding fuel. Team Obama faced a situation not seen since the 1930s — a worldwide banking meltdown. The financial system needed to be rebuilt — and it still does."Galbraith is indeed correct in his assessment and what needs to be done above however to do this without immediate stimulus means that we would have to let the total system collapse and we would experience catastrophic depressionary conditions and massive worldwide upheaval for a decade or longer.The Republicans have it wrong in that we cannot provide additional major stimulus through continued tax cuts for the most wealthy.  Our income tax structure for the most wealthy has already been heavily cut over many years now.  Large corporations have created virtually no net new jobs in three decades yet the Republican Party and conservatives continue to push them to the detriment of small business!  This is not free enterprise or free market.  It is oligarchical plutocracy!The only place where sufficient funds, capital, and wealth exist to get us out of our current and long term economic predicament is in the $46 Trillion that the most wealthy Americans are holding as well as in the $500 Trillion that the most wealthy of the world are holding.Tens of trillions of dollars are being extracted from the people. What must immediately be done in addition to the fundamental reform actions that Galbraith calls for is to:

Cut ALL TAXES by 20% for the poor, working people, and small businesses across all states;

Remove the big corporate tax loopholes and big corporate tax subsidies;

Rescind the big income tax cuts for the most wealthy and actually increase them.

Selectively allow some banks and Wall Street investment houses to absorb bad investments or either actually fail and be bought up by other stronger companies if to do so will not hurt the long term viability of the overall economy.

Return to the commodity and food speculation limits that existed prior to Bush which enabled commodity and food prices to be fairly stable and protected against speculative control and market manipulation.

Prudently cut big increases in government spending that have occurred over the last ten years that do not benefit the people directly.

Begin immediate huge job programs funded by the government and/or fund jobs programs put forth by the private sector.

Remove the ability for big oligarchical corporations and the banks to buy politicians forever.

This will enable us to avoid a massive depressionary collapse and the deficits and national debt will totally disappear over time while poverty and social welfare spending can be decreased greatly. Economic growth will also be higher than it has ever been before and America will be stronger and more free than it has ever been before. This is true American exceptionalism! Not a continued drain of our country like we see under oligarchical corporatocracy. Our Congress is bought. The people must do what is necessary to avoid serfdom. I respectfully submit this for the peoples consideration - Gentlemanindfw

Fixing the economy: We got it wrong

Our economic issues are worse than expected, and our solutions haven't worked. We need to start anew.

Traders work on the floor of the New York Stock Exchange during the morning session August 11. The solution to the Great Recession is not another stimulus. We need a long-term strategy. (Stan Honda / AFP / Getty Images)

James K. Galbraith

August 15, 2011

In early January 2009 two White House-bound economists — Christina Romer and Jared Bernstein — predicted that if the stimulus bill were passed, unemployment would peak at 8% by midyear and then start coming down. If there were no stimulus, they said, joblessness might hit 9% and not peak until 2010. Romer and Bernstein had the risky job of hyping policy, but they weren't alone in their optimistic views. Forecasters at the Congressional Budget Office, the Federal Reserve and most private banks all thought that the economy had a natural tendency to right itself, sooner or later. What it needed, the activists urged, was a push. Well it's now obvious that the push didn't do the job. Even with it, unemployment is higher than the Romer-Bernstein worst case. The optimistic forecasts now look embarrassing, ranking right up there alongside Irving Fisher's 1929 comment that stocks had reached "a permanently high plateau." About the time Romer and Bernstein issued their assessments, I wrote a cover essay for Washington Monthly attacking predictions of early recovery. The "return to normal" would not happen, I wrote, because the effects of a financial collapse could not be reversed. But though this fact was obvious and in plain sight, somehow many economists missed it. Let's examine that epic failure. First, the economic models in use were obviously faulty. Why? Because they had assumed a "natural rate of unemployment" to which the economy will return whatever happens. This idea originated with Milton Friedman as part of his attack on John Maynard Keynes — who had argued, based on the stark evidence of the Great Depression, that mass unemployment can persist indefinitely. An economist who builds the natural rate into a model is like a doctor who assumes that her patient will always get better eventually, even without treatment. No such doctors exist, of course; that so many economists think this way is just strange. Second, the glide path to recovery was obviously wrong. Why? Because it was based on postwar business cycles, and recessions from 1950 to 1990 were caused mainly by tight policies or outside shocks to a fairly sound system. Those recessions did have a corrective: as time passed "pent-up demand" would build and a new credit boom would start. In 2009, because American households were now massively upside-down on their mortgages, this could not happen. But postwar experience had no precedent for this, and so it could not be built into a forecast. Third, the forecasts were reinforced by checking with all the top forecasters, and this was the wrong thing to do. Why? Because in a deep crisis the consensus view, which is necessarily an average, is always wrong! Extreme situations require extreme assessments, meaning that someone must stand up and overrule the crowd. But led by its technicians, Team Obama simply assumed away the crisis, calling it instead a "Great Recession" – which again implied that it would end just because recessions always had. The next mistake was to base policy on the forecasts. The sensible thing would have been to paint the bleakest possible picture, emphasizing the extraordinary crisis, and so justify the largest possible policy action. Then if things turned out all right President Obama would have gotten credit, and any excess actions could easily have been cut back. Instead, the president set himself and his policies up for blame. Obama's approach contrasts sharply with how President Reagan handled the recession of 1981-82 — with massive tax cuts enacted in 1981. I did not like Reagan's tax cuts, but everyone could see that they implied a truly massive stimulus. This was politically smart, as Reagan's reelection proved. And when the message had been delivered, the cuts were trimmed in 1982, 1984 and 1986. Obama's economists had more hubris and less ambition than Reagan's. They thought they could predict events accurately and put just the right policies into place. And that was before politics interfered, cutting the actual package to well below what Romer thought necessary. Larry Summers, however, was later quoted saying that he still thought the stimulus was about right, which raises the question: Why didn't it work as planned? In fact, stimulus alone was never going to bring recovery. This crisis was caused by financial collapse, rooted in massive banking fraud. The financial system is our economic motor and when it fails it cannot be revived simply by pouring money on it, any more than a wrecked reactor can be restarted just by adding fuel. Team Obama faced a situation not seen since the 1930s — a worldwide banking meltdown. The financial system needed to be rebuilt — and it still does. But Team Obama chose to overlook this. The result was debt-deflation. Falling asset prices tipped more and more households into insolvency, business stagnated, tax revenues dropped, states and localities cut their budgets and deficits widened. The situation is similar in Europe, with countries rather than households in the deepest trouble, and wild rumors attacking the shares of even the biggest banks. Federal budget deficits in this situation are like IV-bags in an emergency room: they stabilize things. IV's are definitely linked to sickness, and no one would use them if they weren't necessary. But very few doctors propose to cut back on saline while the patient is still sick. Today, however, the official economists and their followers in Congress, the White House and the media are divided between those who would remove the IV's slowly, whether the patient recovers or not, and those who'd like to charge through the wards, yanking needles from arms. The debt deal enacted earlier this month put the first group in charge, but that's pretty cold comfort. The solution is not another "stimulus" — a term that stinks of needles and quick fixes. The solution has to be a long-term strategy: both a new direction for economic activity and new institutions to provide the money. The proposed national infrastructure bank — a permanent institution — is the right sort of thing and would be a good place to start. To go further, let's admit that our problem is not budget deficits or public debt — not now and not later. Let's agree that cutting Social Security and Medicare — inflicting pointless pain on the elderly — will not help. Let's build a new financial system to serve public purpose and private business. And let's start to act on our actual needs and problems: jobs, foreclosures, public investments, energy security and climate change. Time is short, but at least in recent days it's becoming clear: We're getting it wrong and we must change. James K. Galbraith teaches at the University of Texas at Austin.

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Tea Party Cheers "Tea Party Downgrade" by S&P

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Move On Moves On

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The STRONG versus the weak

The underlying driver for conservative beliefs is based upon the conclusion that government is the fault for all of our problems and that it is morally wrong to tax ... that such is "parasitic."

The only time that we did not ever have government taxation is when we did not have government and those times were a horrible "dog eat dog" world in which the strong ruled the weak and took everything they had. Everything which we now take for granted that provides us with security, safety, education, health, and freedom did not exist under conditions of no government or no taxes. These were miserable, horror filled times of hunger, disease, and a daily struggle just to survive. Even business could not function properly as there was no overall framework to enable cooperation, and to mitigate corruption and risk. Businesses losses were great particularly when the costs of rampant crime, wars and revolutions are factored in.  Everything was basically primitive, risky, inefficient, unstable, and dysfunctional.

Government and taxation for the public good changed all of that and provided a framework for capitalism to function contractually and more efficiently with stability so that risk was reduced thereby enabling higher profitability. I know that conservatives will now argue that they are not advocating no government but only limited government. The inherent problem with such an argument is that the things we desire (security, safety, health, and freedom) cannot exist over the longer term with only partial government as the strong will eventually rule the weak again and take everything they have. Laws become weak and people like Bernie Madoff or corporations like Enron can embezzle great sums from the people. Not even a strong military and police forces can stop strong oligarchical forces from exercising tyranny over the people. In fact those defense and police forces would be quickly co-opted to work for the oligarchical corporate tyranny elite itself.  

Such was the case when the railroads were unrestrained in their use of Pinkertons to kill off anyone in the way. Later on Pinkertons did the dirty work of Henry Ford by terrorizing and murdering workers. Coal mine companies disregarded the safety of the miners and rigged books so that miners, who were required to live in company owned shacks and buy everything at company owned stores, paid more than they made. No competition was allowed and if a competitor appeared it was shut down by company "agents" or they were burned out and murdered.

The same incorrect argument about limited government applies to education. If you keep cutting eduction you cut off your nose to spite your face. Then conservatives have the audacity to say that education isn't working well after they have cut it.

Conservatives argue that government is ineffectual, dysfunctional, too slow, and burdened with red tape. They use the Post Office as an example but such also reflects the need for a government that is big enough to properly meet the needs and demands of the size of population that it is required to serve. In this regard, we need only compare the inadequate size of the Post Office in certain areas to the size of private carriers such as Fed Ex and UPS. 

The argument that we would have lower taxes would also not be the case because where we have seen less government protection we have also seen the weak having a lower standard of living and wealth while the strong had an unbelievable level of wealth and control over the weak. Conservatives can also not say that supposed lower taxes would only be partially "parasitic" as such makes no logical sense.  Prior to the Reagan revolution, the only thing that kept our wealth and earnings from being transferred to the strong was government taxation policies that limited the amount of wealth transfer from the weak to the most strong. Conservatives argue that it is only moral that the weak pay the same percentage level of income taxes as the strong. However if this was the case we would quickly return to societies in which organizations and people similar to kingdoms and serfs would exist. In fact today, when all taxes such as sales, usage fees, and property tax, are considered the poor and middle class working man pays a much higher percentage level of taxes than do the wealthy.  The current overall tax system is actually highly regressive.  It is simply impossible to maintain a high level of security, safety, education, health, and freedom for the masses over the long term in the absence of higher marginal taxes on the most strong. Conservatives argue that lower taxes on the most strong will enable them to give us jobs or give us lower cost products. The problem with this argument is that in reality it has just not worked that way. Such claims are simply myths and unfounded beliefs that can be the subject of multiple books and economic studies.

Besides the need to remove government as a regulatory agent, conservatives need to be able to transfer the shortcomings of the private sector onto the government because to not do so risks questions being asked about private sector failings.  The strong do not want regulation and government because it keeps them from exercising power over the weak.  Conservatives argue that the strong will do the right thing and be self-regulating because the market will demand it. The reality however as we have found time and again is much different. By its very nature greed if left unregulated will eventually become corruption.  Although government can be co-opted and used by strong oligarchical forces the weak still have some power as they have a vote and can elect officials to represent them.  In this regard the government is ideally "we the people" as long as large corporate money does not overwhelm the weak and purchase the politicians and government.  We must remember that the main interest of strong oligarchical corporations is to make money at all costs and the weak be damned.

Conservatives argue that government is authoritarian. That it is composed of rich bureaucrats who know nothing of what they regulate.  In this regard, what conservatives fail to understand is that you remove bad politicians, bureaucrats, policies, laws or the influence and control of oligarchical powers and lobbyists. You do not kill government as it is the only means with which to keep the strong from dominating the weak.  Conservatives also argue that government is "Marxist" and is only attractive to those with no understanding of human nature. That helping the weak lacks wisdom and that the best way of doing good for the weak is to not make poverty easy for them but to make it hard for them which will then drive them out of poverty.  That there is no justification for helping the weak other than to provide a foolish feeling of superiority and control to those who help the weak.  That we do not really have poor in a totally capitalist society and that most people would rather live in a capitalist society because with hard work they can accomplish their dreams. In regards to this, I say that the poor or weak have no desire to stay poor.  Conditions of destitude only perpetuate more devastation or conditions of rage which bring about revolts. That because of their condition the destitute and downtrodden would much rather have a helping hand up than just a small hand out that does not do much for them.  Human beings have an innate yearning to become better and they will become better if they have real opportunities to do so.  People want education and a way to really move up and to become independent .   They want a good job and a decent living wage for an honest days work.  I also believe that the strong have a vested interest in keeping the weak down and uneducated since to have an educated stronger citizenry would threaten their control over the weak. Also what I am saying is not "Marxist" as good government would promote true free enterprise capitalism that enables small and mid-sized businesses, innovators, entrepreneurs, and job creators to compete more effectively and prosperously.

All of this is not to say that we cannot have a more efficient, effective, and fiscally responsible government, as we can, but we must not return to the mistakes and suffering inherent in "strong versus the weak" societies. The rich would only get richer and the poor would get poorer and the middle class and democracy would disappear.

Written by gentlemanindfw with the grateful appreciated assistance of Truth and Justice members.

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The End of the American Dream - Corporate Fascism

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