If Pres. Obama and the Democrats talked this talk and walked this walk, they would be giving me something to vote for. Come to think of it, that’s exactly what Jill Stein of the Green Party is giving me.
Tag Archives: foreclosure
#TeaParty Rep. Loses Cool with Skeptical Constituents
Rep. Joe Walsh of Illinois demonstrates his concept of representative democracy at a townhall held in a bar in his district last weekend. What exercised the Congressman’s patience was the suggestion, apparently popular among the unrattled attendees, that, as I suggested yesterday, private banks were as much at fault for the depressed or recessed economy as politicians. Walsh displays the Tea Party mindset at its most rigid worst when he asserts that consistency of ideology is more important than accuracy of fact. He doesn’t want the people of his district to forget is that he will not stray from the Tea Party (Republican) line that private interests are more important than the public interest.
The bottom line: The people get it. Some politicians don’t and don’t want to get it.
PS: Perhaps the most astonishing moment of this video is when Walsh says, “”What has made this mess is your government, which has demanded for many years that everybody be in a home.” Is a Tea Party Republican actually blaming the American dream of universal home ownership for the economic mess? Is he really suggesting that the American dream is the product of government rather than of individuals? Setting aside the question of whether or not this is right, this seems to be a startling position for a conservative, pro-market, pro-individualist to be taking. I wonder if this will be a new shade of conservatism: anti-American Dream libertarianism.
Through a Glass Darkly: Catherine Austin Fitts and the Capitalism of Crisis
In The Shock Doctrine, Naomi Klein brought to light the neoliberal tactic of crisis capitalism, unleashed in circumstances (as in Chile, Argentina, Poland, Russia, South Africa) where political powers have exploited (or even created) extreme conditions–such as coups, natural disasters, or economic crises–during which the local population is disoriented and their defenses are down, to instigate corporation- and “investment”-friendly policies like lowered taxes and the cutting and privatization of government services. The justification given for such maneuvers is to bring the target economy in line with the global economy, but, of course, very few people (only a tiny few) in the world actually benefit from these capitalistic incursions. One of the most obscene instances of the Shock Doctrine in action resulted in the rape of the former Soviet Union”s assets by the oligarchs in the name of Boris Yelstin’s economic “reforms.” But that’s only one of the most obvious and well known cases.
Catherine Austin Fitts
During the Clinton years, as former communist apparatchiks were helping themselves to radically discounted oil fields and other rich resources in Russia, Catherine Austin Fitts says she witnessed a similar feeding frenzy much closer to home. A former managing director and board member at the Wall Street firm Dillon Read who served as Assistant Secretary at HUD in the first Bush administration, Fitts started a financial company of her own, The Hamilton Securities Group of Washington, D.C., to help communities make the most of federal monies and improve their standing in what she calls the Popsicle Index, which measures the confidence families in a community feel to send a six-year-old by herself to the corner store and back. Fitts witnessed firsthand the collusion between Washington and Wall Street insiders (often the same people on opposite sides of a revolving door) to employ crisis capitalism techniques in the US as part of the daily repertoire of government actions (my emphasis):
Our efforts at The Hamilton Securities Group to help HUD achieve maximum return on the sale of its defaulted mortgage assets coincided with a widespread process of “privatization” in which assets were, in fact, being transferred out of governments worldwide at significantly below market value in a manner providing extraordinary windfall profits, capital gains and financial equity to private corporations and investors. In addition, government functions were being outsourced at prices way above what should have been market price or government costs — again stripping governmental and community resources in a manner that subsidized private interests. The financial equity gained by private interests was often the result of financial, human, environmental and living equity stripped and stolen from communities — often without communities being able to understand what had happened or to clearly identify their loss. This is why I now refer to privatization as “piratization.”
One of the consequences was to steadily increase the political power of companies and investors who were increasingly dependent on lucrative back door subsidies — thus lowering overall social and economic productivity. Hence, the doubling of FHA’s mortgage recovery rates from 35% to 70-90% ran counter to global trends and ruffled feathers…. Continue reading
Defending #OWS, Ron Paul Says He Supports Bailout of People with Bad Mortgages
I applaud him for that. He is certainly the rare politician who seems to actually understand the legitimacy of the #occupyWallStreet protest.
Of course, the last time I heard applause for him like this at one of these debates, he was arguing against bailing out people with catastrophic illnesses who have no health insurance.
NY Attorney General’s Dismissal Has “Big Banks’ Dirty Fingerprints All Over It”
Here’s a bit of outrageous news that you might not have heard today, courtesy of the Institute for Public Accuracy: Continue reading
Is Private Property in America Ever Justly Acquired?
Property acquisition in the Americas begins.
Back to the critique of Ron Paul’s libertarian principles that I began with this post. We’re onto principle number 3:
3. Justly acquired property is privately owned by individuals and voluntary groups, and this ownership cannot be arbitrarily voided by governments.
[Aside: There’s that word “voluntary” with groups (associations) again! ]
As I’ve shown in my previous critiques, Paul’s principles are half-baked by-products of social contract theory. They want to assert that rights precede government (which even social contract philosophers have to take on faith) and then do away with the government that those philosophers posited as a necessary evil for preserving those rights in society with other individuals. Really? Do away with the government, you might ask? Doesn’t Paul, like Jefferson, for example, just want to keep the government to a size that isn’t able to overwhelm the individual with its potentially arbitrary and despotic power? I would argue that the way these principles are phrased–and this one in particular is a very good example–Paul seeks to postulate a society that operates according to natural rights, with or without a government. He seems to believe that rights in themselves, if we would only just respect them, are sufficient for self-government.
Continue reading
Tragic Farce 