. . . and truth. . .
. . . from John Kenneth Galbraith
"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. "
"Under capitalism, man exploits man. Under communism, it's just the opposite."
"It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought."
"The only function of economic forecasting is to make astrology look respectable.
as a form of employment for economists."
"The salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself."
"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
"We all agree that pessimism is a mark of superior intellect. "
"Politics is the art of choosing between the disastrous and the unpalatable. "
"Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative."
"The conventional view serves to protect us from the painful job of thinking."
"More die in the United States of too much food than of too little. "
"In economics, the majority is always wrong. "
"Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects."
"In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong."
"Wealth, in even the most improbable cases, manages to convey the aspect of intelligence. "
. . . that should be polarized is the electrical plug on your appliances. . .
Karl Rove, David Koch, Grover Norquist, Mitt Romney, Dick Cheney, Donald Rumsfeld, Ted Nugent, Newt Gingrich, Rush Limbaugh, Sean Hannity, Ann Coulter, Chris Christie, John Boehner and Rick Santorum please take note.
(from http://articles.businessinsider.com/2011-11-21/news/30424409_1_david-frum-republican-party-tax-cuts) " . . . Republican commentator David Frum, who recently mortified many members of his party by suggesting that Paul Krugman might be right about the US economy, is back with a long essay in New York magazine.
This time, Frum expresses dismay about how the Republican party has lost touch with reality.
In the space of only a decade, Frum observes, the GOP has gone from being a party dominated by reasonable right-of-center pragmatists to being hijacked by right-wing extremists.
A lifelong Republican, Frum sums up his views this way:
I’ve been a Republican all my adult life. I have worked on the editorial page of The Wall Street Journal, at Forbes magazine, at the Manhattan and American Enterprise Institutes, as a speechwriter in the George W. Bush administration. I believe in free markets, low taxes, reasonable regulation, and limited government. I voted for John McCain in 2008, and I have strongly criticized the major policy decisions of the Obama administration.
And then he looks at the views one has to have to be a loyal member of today's Republican party, and he's appalled by what he sees:
America desperately needs a responsible and compassionate alternative to the Obama administration’s path of bigger government at higher cost. And yet: This past summer, the GOP nearly forced America to the verge of default just to score a point in a budget debate. In the throes of the worst economic crisis since the Depression, Republican politicians demand massive budget cuts and shrug off the concerns of the unemployed. In the face of evidence of dwindling upward mobility and long-stagnating middle-class wages, my party’s economic ideas sometimes seem to have shrunk to just one: more tax cuts for the very highest earners. When I entered Republican politics, during an earlier period of malaise, in the late seventies and early eighties, the movement got most of the big questions—crime, inflation, the Cold War—right. This time, the party is getting the big questions disastrously wrong.
Specifically: It was not so long ago that Texas governor Bush denounced attempts to cut the earned-income tax credit as “balancing the budget on the backs of the poor.” By 2011, Republican commentators were noisily complaining that the poorer half of society are “lucky duckies” because the EITC offsets their federal tax obligations—or because the recession had left them with such meager incomes that they had no tax to pay in the first place.
In 2000, candidate Bush routinely invoked “churches, synagogues, and mosques.” By 2010, prominent Republicans were denouncing the construction of a mosque in lower Manhattan as an outrageous insult.
In 2003, President Bush and a Republican majority in Congress enacted a new prescription-drug program in Medicare. By 2011, all but four Republicans in the House and five in the Senate were voting to withdraw the Medicare guarantee from everybody under age 55.
Today, the Fed’s pushing down interest rates in hopes of igniting economic growth is close to treason, according to Governor Rick Perry, coyly seconded by TheWall Street Journal. In 2000, the same policy qualified Alan Greenspan as the “greatest central banker in the history of the world,” according to Perry’s mentor, Senator Phil Gramm.
Today, health reform that combines regulation of private insurance, individual mandates, and subsidies for those who need them is considered unconstitutional and an open invitation to “death panels.” A dozen years ago, a very similar reform was the Senate Republican alternative to Hillarycare.
Today, stimulative fiscal policy that includes tax cuts for almost every American is “socialism.” In 2001, stimulative fiscal policy that included tax cuts for rather fewer Americans was an economic-recovery program.
Frum's observations are far from radical. A couple of weeks ago, we noted that the Great Hero of the Republican party, Ronald Reagan, would not likely be able to get elected today, because of, among other things, his willingness to raise taxes when he needed to.
Frum attributes the GOP's drift to the extremes to the influence of talk radio and FOX News, ethnic competition, and the pain of economic stagnation. He observes that, once he raised his views on FOX News, he was immediately banned as a commentator.
The America championed by the current Republican party would be a brutal country with even more extreme wealth inequality and poverty and an even more powerful and richer ruling class. And, unfortunately, the extreme views of today's party will alienate many of the more moderate Republican ideas --or, worse, cause them to have to get extreme or risk getting excommunicated.
One hopes that, by bravely speaking out on these issues, David Frum will galvanize what might be called the Great Silent Majority of Republicans to take back their party. Because the sooner America returns to having two reasonable alternatives, the better. . . "
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. . . job creators gone? (sincerest apologies to Pete Seeger)
Under Bill Clinton, taxes on higher-income families were high compared to now, at 39.6 percent. Yet almost 23 million jobs were added vs. net job growth of 1.1 million during George W. Bush’s lower-tax years. In the 1950s, a Golden Age of growth, the top marginal tax rate was as high as 91 percent. There were many other economic forces at work in each of these periods, making direct comparisons difficult. Still, a professor at the University of Michigan says it disproves the idea tax increases are the kiss of death.
Where have all the job creators gone? No more taxes Where have all the job creators gone? With that guarantee Where have all the job creators gone? Cause we don't see no new jobs When will we ever learn? When will we ever learn?
Where have all the job creators gone? Boehner says don't tax them Where have all the job creators gone? Norquist loves them so Where have all the job creators gone? Must be in Bermuda When will we ever learn? When will we ever learn?
Where have all the job creators gone? Funny nothing's happened Where have all the job creators gone? And the deficit grows still Where have all the job creators gone? All their pockets bulging When will we ever learn? When will we ever learn?
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(from MSNBC) . . . Perry said, "Mitt, while you were the governor of Massachusetts ... you were 47th in the nation in job creation," Perry said in a challenge to Romney's economic credentials. "What we need is somebody who can draw a bright line between themselves and President Obama, and let me tell you one thing: I will draw that bright contrast."
Romney responded by dredging up Perry's work as a young Texas politician in support of Al Gore's 1988 presidential campaign.
"With regard to track record and the past, governor, you were the chairman of Al Gore's campaign. And there was a fellow Texan named George Bush running," Romney said. "So if we're looking at the past, I think we know where you were."
(The non-partisan Politifact determined that Perry was not Gore's campaign chairman, but rather, simply a single supporter.)
The showdown between Romney and Perry was, in some respects, the one that political observers had hoped for since Perry entered the race in mid-August. The Texas governor overtook Romney, the campaign's putative frontrunner, in the polls, but has seen his numbers decline since then. . .
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. . . have squandered the economic recovery that was building before the debt-ceiling debacle.
By choosing to display their stubborn, partisan agenda instead of truly serving their constituency and contributing to the downgrading of long term U.S. Treasury bonds instead of making sincere efforts to balance the U.S. budget, our representatives in Congress have put the brakes on anything resembling an economic recovery and many analysts say this is the most serious issue of all.
A commentator on the news this morning said that the Feds need to reassure panicked investors. Duh, yes. And many thanks to the very same industry that provides that commentator a livelihood for the panic that occurred in the first place.
What are the real issues hindering our economy? I offer the following thought, albeit oversimplified and informed mainly by my gut, but still one about which I feel very strongly.
The word that comes to my mind is GREED. Listen to the business news and stock market reports when they say things like, 'gold has backed off of its high' or '3% growth, lower than expected. . . ' We, in and around Baltimore, Maryland depend upon a utilities provider called Constellation Energy who made revenues of $14.3 billion in 2010. Granted, these are 'revenues' not 'profits', but no matter how you slice it, it's big. The Chairman of the Board, President and Chief Executive Officer of this company earned a total Compensation of $6.02 million. That's enough to feed an entire country. And this while our rates for gas and electricity continue to rise.
Why can't profits grow at less than astronomical rates? Why can't we learn contentment and not always crave MORE!!?? Instead of generating MORE, MORE, MORE for investors and providing outrageous compensation packages to executives, why can't these businesses provide jobs and settle for stability or modest growth?
Are any of these people in Congress REALLY leaders?
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