All of a sudden MSNBC cable commentators are talking about plutocracy and oligarchy. Surprisingly, the first occurrence of this I’m aware of was Chuck Todd, reacting on his Daily Rundown show to the spectacle of Republican candidates traveling to Vegas to seek funding from Sheldon Adelson and his group of hugely wealthy Jewish Republican donors. Todd began to explore the implications of that event. He seemed exercised, and more than the slightest bit upset, about its meaning for Democracy and used the words plutocracy and oligarchy. Andrea Mitchell also discussed it later and she, too, registered apparent dismay, while using the “p” and “o” words.
|By: letsgetitdone Saturday April 5, 2014 4:00 pm|
|By: letsgetitdone Friday November 16, 2012 4:31 pm|
Like many others, I’m not worried about the so-called fiscal “cliff,” and the ravages to the economy that are likely to occur if Congress doesn’t do something about it before the end of the year. That’s because a lot of the impact can be cushioned in the short run by Executive Branch manipulations while negotiations continue to go on. But if measures aren’t taken to reverse the contractionary effect of the sequestration-induced changes, we’re looking at deficit cuts of $487 Billion over 9 months of the fiscal year.
By comparison, the American Recovery and Reinvestment (ARRA) of 2009 produced only $350 B in stimulus during its first year. And, if the full sequestration were allowed to proceed unmodified, then it would result in a “claw-back” of about 60% of the total ARRA stimulus.
|By: Lindsay Beyerstein Saturday December 10, 2011 1:59 pm|
In the summer of 2011, 14 million Americans were unemployed and 16% of the country was officially poor. Student loan debt eclipsed credit card with over $1 trillion outstanding. One in five mortgages was underwater. Our leaders said the economy was recovering from the recession caused by the financial crisis, but their soothing pronouncements seemed to mock the evidence of our senses. On September 17, a group of activists converged on a small concrete plaza in lower Manhattan, determined to Occupy Wall Street.
|By: masaccio Wednesday November 3, 2010 2:00 pm|
The Fed’s quantitative easing hurts small savers and helps banks and bond traders. Whose side are these people on?
|By: David Dayen Tuesday August 3, 2010 6:30 pm|
People have a generally dour outlook on the state of the economy because they’re responding to signals of their personal struggles with it. They aren’t spending any money out of concern for the near future and their personal security. This isn’t all that complicated.
However, another reason that the public has soured on the economy, and in particular the current ruling party’s ideas for fixing it, is that they’re not hearing anything substantive or new from those in the ruling party, or allies nominally on the Democratic side of the ledger. They believe that a new group of people are pushing the same rotten, stale ideas, and that faced with the choice between a limp status quo and something “fresh” and “new” like limiting spending (boy they’ve really sold the same crap in a new toothpaste tube, huh?), they’ll jump for it.
Maybe it’s time to highlight the strong voices on the liberal side, and the ideas which really would represent a change.
|By: David Dayen Saturday July 17, 2010 11:00 am|
Rule of law means that people responsible for crimes lose their liberty. That’s what it means for most people, anyway. Not so on Wall Street. Sen. Ted Kaufman name-checks Jamie Galbraith, but Galbraith would like to see people who break the law go to prison. That would be an effective deterrent, not a slap on the wrist.
|By: David Dayen Tuesday July 13, 2010 1:00 pm|
Nobody pop the champagne corks yet. But we may actually get to the bottom of the fraud in the financial sector.
|By: masaccio Monday July 12, 2010 12:30 pm|
Alan Simpson and the Catfood Commission want to default on the Treasury Bonds held by the Trust Fund. Sovereign default is dirty words; so they come up with stupid to hide their intentions.
|By: Scarecrow Thursday May 13, 2010 7:25 pm|
Economist Jamie Galbraith, along with Dean Baker and friends, are to the deficit hawks and their scare mongering what the skeptical and ultimately correct McClatchy reporters were to Dick Cheney’s fabrications about Saddam’s weapons of mass destruction and links to al Qaeda. We’re listening to the wrong “experts,” again.
|By: Jane Hamsher Friday May 7, 2010 6:05 am|
Good for Ron Paul for telling Rahm and his little pro-bank whip operation to get stuffed. He’s seizing a moment of transpartisan anger at the banks and he’s pointing it straight at the Wall Street apologists. It will be interesting to see how far he can take it.