Best of the Week
Financial Crash and TV Media Machines Perpetual Buy Recommendations - 11th Oct 08
Anatomy of Financial and Economic Disaster -Part2 - 11th Oct 08
Financial Storm to Usher In New World Order - 11th Oct 08
G7 Financial Crisis Meeting Geopolitics - 11th Oct 08
If You Listen to Economists… You WILL Go Broke - 10th Oct 08
Stock Market Bottom, Are We There Yet? - 10th Oct 08
A Credit Crisis? No its a Confidence Crisis! Gold? - 10th Oct 08
1929 Style Financial Markets Panic: The De-leveraging Margin Debt - 10th Oct 08
Trading Stock Bear Markets - 10th Oct 08
China Stocks Attractive After Stock Market Crash
Methods for Estimating the Price of Gold - 10th Oct 08
Gold Price Manipulation- Bear Stearns Murdered at the Golden Gates - 10th Oct 08
Central Banks Panic as Bailouts Fail to Halt Stock Market Crash - 10th Oct
Stock Markets Crash as LIBOR Fails to Respond to Rate Cuts - 9th Oct
Stock Market, Gold, and the U.S. Dollar - 9th Oct
LIBOR Interbank Money Market Earthquake Signals UK Debt Recession - 9th Oct 08
Financial Safety During Financial Crisis and Stocks Bear Market - 9th Oct 08
When will the U.S. Housing Market Bottom? - 9th Oct 08
Credit Crisis Commercial Paper Disaster - 9th Oct 08
Gold Ready to Skyrocket? - 9th Oct 08
Financial Warfare Over Future of Global Banking Power - 9th Oct 08
U.S. Treasury To Take Ownership Stake In Banks - 9th Oct 08
Stock Market Tickertape Death March towards Financial Collapse - 9th Oct 08
Post 9/11 World Strategic Analysis - 9th Oct 08
Credit Default Swaps Weapons of Financial Mass Destruction - 8th Oct 08
Financial Crisis 2008 Similar to 1987 Stock Market Crash - 8th Oct 08
Emergency Economic Stabilization Act Fleeces America to Reward Criminal Bankers - 8th Oct 08
7 Trillion Reasons to Own Gold - 8th Oct 08
Severe Bull Market for Gold - 8th Oct 08
Stock Market Crash- Where's the Bottom? - 8th Oct 08
America's Financial Apocalypse Economists Need to Sit Down and Shut Up - 8th Oct 08
UK Interest Rate Forecast 2009 - 8th Oct 08
Gold Crisis and Inflation Hedge Expected to Outperform Crude Oil - 7th Oct 08
Real Price Of Gold Soars - 7th Oct 08
Global Financial Crisis Safe Havens - 7th Oct 08
Stock Markets to Fall Another 25% Due to Margin Debt Deleveraging - 7th Oct 08
Fixing the U.S. Housing Market and House Prices - 7th Oct 08
U.S. Economy Rapidly Sinking Into Economic Depression - 7th Oct 08
LIBOR OIS Spread Signals Credit Crisis Earthquake - 7th Oct 08
Stock Market Elliott Wave Analysis and Silver Recessions - 7th Oct 08
European Government's Panic Triggers Stock Market Crash - 6th Oct 08
Credit Crisis Actions Risk Collapse of European Monetary Union - 6th Oct 08
Bailout Plan Continuation of a Corrupt Banking - 6th Oct 08
Impending U.S. Economic Collapse And Death Of Democracy - 6th Oct 08
The Big Bailout of 2008 Will FAIL to Rescue Crashing Financial Markets - 6th Oct 08
Financial Crisis Turning into a Real Economic Crisis - 6th Oct 08
Credit Crisis Worse to Come as U.S. Mortgage Resets Continue - 6th Oct 08
Bailout Bill Will Do Nothing for the Real Economy - 6th Oct 08
Stock Market Investing Safety Over 5year and 10year Periods? - 6th Oct 08
Euro and British Pound Come Crashing Down to Earth - 6th Oct 08
Nasdaq Break Below 2000 Confirms Severe Collapse of the Economy - 6th Oct 08
European Banking Crisis Deepens as Germany Guarantees Savings - 6th Oct 08
The Deepening Economic Depression - 5th Oct 08
Stock Market Approaching Significant Low for a Counter-trend Rally - 5th Oct 08
$700 Billion Printing of Bailout Monopoly Money, Hedge Your Wealth! - 5th Oct 08
Credit Chaos Next– The Mother of all Bank Runs? - 5th Oct 08
Gold Stock Investors Looking at Huge Losses - 5th Oct 08
Fear Grips Stock Markets as Economies Tip Into Recession - 5th Oct 08
Keyser Soze Heists Main Street Out of $700 Billion - 5th Oct 08
Stocks Secular Bear Market Immune to Bailout Government Manipulation - 4th Oct 08
LIBOR Gone Crazy as Commercial Paper Market Implodes - 4th Oct 08
Kerry Smith: Metals & Mining Portfolio Building During Chaotic Times - 4th Oct 08

Free Instant Analysis

Free Instant Technical Analysis


RSS Feeds

Most Popular 2008
1. The Great Depression 2008 - It can't happen to us....can it?”
2. The Battle for America Has Begun- Strategic Forecasts
3. US Banking System Teetering on the Brink of Collapse
4. UK House Prices Plunge Over the Cliff
5. How Safe is My FDIC-Insured Bank Account?
6. Experts: Global Food Shortages Could ‘Continue for Decades'
7. Top 10 Global Investment Trends to Follow for the Next 18 Months
Most Popular 2007
1. US Housing Market Crash to result in the Second Great Depression
2. Operation FALCON - The USA is turning into a Police State
3. US Housing Bubble Meltdown: "Is it too late to get out"?
4. UK Housing Market Crash of 2007 - 2008 and Steps to Protect Your Wealth
5. Global Liquidity Crisis when the Credit Boom comes to an End
Most Popular 2006
1. Last Warning! Three-Pronged Collapse ... Stocks, Bonds and Real Estate
2. UK Interest Rate forecast for 2007 - Bank of England to do battle with inflation
3. UK Interest Rates Forecast to rise much higher due to rising Inflation and high Money Supply Growth
4. Emerging Markets outlook for 2007 - India, China, Russia, Eastern Europe and Brazil

Market Oracle FREE Newsletter

Best of the Month
October 08
Manipulation of Gold and Commodity Prices to Prevent Inflation and Higher Interest Rates
Bailout Fixes Nothing, Banking System Collapse Approaches Climax
September 08
Financial Tsunami: The End of the World as we Knew it
Financial Catastrophe Entire Global Financial System in Collapse
End of the Financial World- LIBOR TED Spread Flashes Trouble
America's Financial Apocalypse, What Can YOU Do as an Investor?
Bailout Crisis - What Happens Next
Credit Crisis Analysis and Conclusions
Financial Armageddon and the Re-pricing of Collateralized Debt
Systemic Failure of the United States- Game Over
Is the United States In Recession?
BANKRUPT Banks Wiped Out by Tulip Backed Securities
August 08
Stock Market Rally Does Not Change Fundamentals
Strong US Dollar Investment Implications for Stocks and Gold
Crashing Global Economy Boosts Dollar as Interest Rate Differentials Narrow
Economic Decoupling Fails as World Follows US into Recession
Yikes! Major Reversal in Fortunes for the US Dollar and Gold
Fundemental Change as Global Economy Heads For Recession
China Growing Risk of Corporate and Economic Distress
Stock Markets Heading for Price Earnings Reversion Below the Mean
Using Macroeconomics to Obtain Long-term Market Forecasts
Gold Bull Markets Strong Seasonal Tendancies
Israel Telegraphing of Attack on Iran Just Psychological Warfare -
How Washington is Fooling You: Manipulated Employment Data -
Economic Forecasts and Analysis For US Financial Markets (August 4th- 8th 2008)
Credit Crunch Anniversary and Mega Trends Investing
Commodities Keel Over as US Heads for Prolonged Recession -
Payrolls and Unemployment Data Confirm US In Recession
Base Metals Bull Markets Impacted by LME Stockpiles
July 08
Washington Manipulation of GDP Data to Hide Recessions
Broadening Top Megaphone Pattern Predicted Stock Market Crash
Importance of Long-term Trending Markets in Investment Risk Management -
Fortress Iran is Virtually Impregnable to a Successful Invasion
United States Unfolding Financial and Economic Nightmare
Stock Market Forecasting Made Simple
An More Accurate Measure of the Money Supply TMS or M3 ? -
Protect Your Stocks Portfolio- Industries to Avoid, Industries to Buy
Bursting Bubbles Mean Inflation to Give Way to Deflation
Recent Hindenburg Stock Market Crash Omen
June 08
Regional Velocity of Inflation a Consequence of US Trade Deficit
Sell, Hedge your Stock Market Investments.. or Be Prepared to Lose!
China's Geopolitic Imperatives and its Current Economic Position
May 08
Crude Oil Prices Set to Double and Double Again!
Grain Exporting Countries of Africa to Mirror Crude Oil OPEC Boom
Top 10 Global Investment Trends to Follow for the Next 18 Months
Fixing The Credit Markets to Avoid Another Credit Crisis
Investor Sentiment Improves on Worst of Credit Crisis Behind Us
How to Teach Your Children Financial Independence

Links
Money Forums
Certz
TradingTheCharts
Housing Market Forecasts

Swan Song for the Democrats for Supporting the Iraq War

Politics / US Politics Jun 09, 2007 - 06:46 PM

By: Mike_Whitney

Politics

The Democrats did us all a favor by giving Bush his Iraq war-money. After all, the Dems have supported the war from the very beginning. They deserve to be exposed as the phonies they really are.

The truth is, no one is surprised by the recent vote. We have one party in America –  "the War Party" – the Dems are just a junior partner in that system.


It boggles the mind that so many so-called "liberals" continue to be hoodwinked by the Democrats. After all, what do they have to offer – a slight boost in the hourly wage? Better management of foreign massacres?!?

What else?

They're are even giving ground on a woman's "right to choose", which used to be their signature issue. Now they're even caving in on that.

So, what do the Democrats really stand for?

This is not the party of F.D.R., my friend. This is the party of Bill Clinton, the Master of Triangulation. Clinton was nothing more than the flip-side of George Bush. The bombing of Belgrade was as big a crime as Shock and Awe – although it was cleverly disguised by Clinton's "Aw shucks" charm and the ever-compliant media.

Clinton sold out the American worker when he passed NAFTA. He dismantled the social safety net with Welfare Reform. He destroyed the last vestiges of the free media by signing the Telecommunications Act. And he revealed his utter lack of principle by refusing to sign the Land Mines Treaty – a document that would have saved the lives of thousands of children every year.

In other words, he was the best Republican president we ever had. Which is fine, unless you voted for a Democrat!

Clinton never did anything that wasn't politically calculated. Hell, he probably had his slide-rule out during his visits with Monica to figure out the exact amount of gratification he could have without feeling guilty. Sure, he was bright and good natured but, his critics are right – he was utterly devoid of principle. And yet, this is the Democratic Party's "big hero"; a man who has become the shining example for the future leaders in the party.

What a joke!

The Democratic Party is not the party that people think it is. This is the party of Rahm Emanuel and the DLC. The leadership is unwaveringly pro-war, pro Israel, and pro free trade. There's no room for anything else. The Democrats have no intention withdrawing from Iraq. It's all just bluster and gibberish to dupe the Party faithful. It means nothing.

In fact, the Dems plan for Iraq is even MORE IMMORAL than the Republicans. They want to redeploy outside of the country while reducing the number of troops on the ground. In other words, they want to create a "sustainable" model for stealing the world's second largest petroleum reserves.

It's a more calculating and immoral strategy than Bush's bloody "surge"!

It would be better for the country if the Democratic Party just called it quits right now. The party is a bigger obstacle to progressive reform than the Republicans.

As long as the Dems continue to trick people into believing that they represent substantive change – or even a serious defense of their basic economic interests – the charade will persist and things will get worse.

Real progressive reform should address the central issues facing, not only Americans, but the entire world – nuclear proliferation, global warming, peak oil, population growth, food supply and disease.

Reform isn't even part of the Democrat's agenda.They are mainly focused on enriching their corporate donors, facilitating free trade, and chasing shadowy Islamic groups through Central Asia and the Middle East.

Real reform would restore progressive taxation by reinstating the brackets that were used during the early 1950s; that is, everyone making over $200,000 per year ($1 million by today's standards) pays 93% of their earnings! Without a concerted effort to narrow the massive wealth gap through redistribution"the country will continue to slide towards tyranny. Those who have benefited most from the security, infrastructure and prosperity provided by state should naturally pay more. That is the fundamental tenet of progressive taxation and it is essential if we want to strengthen the middle class and "raise all boats" (as the Republicans like to say)

Besides, who's going to lose sleep over taxing the rich?

A progressive platform should also include a plan to nationalize the oil industry. The record profits from oil production should be going into infrastructure, education and alternate fuels – -not fattening the foreign banks accounts of obscenely rich oil moguls. In an age of resource scarcity, we cannot allow the market to decide who will get access to the energy that everyone needs to maintain minimal standards of living.

We've already seen how big oil is willing to use our children as cannon fodder in their wars of aggression. We've also seen how much effort they put into confusing the public on crucial issues such as global warming. (They've pumped millions of dollars into bogus science and misleading public relations campaigns to keep the people from understanding the truth about "man-made" climate change) The oil industry operates without a conscience putting its bottom line above the very survival of the species. The best thing to do is "return the favor" by seizing the industry – Hugo Chavez style – -and putting it to work for the people it is supposed to serve. If the oil executives still want to continue the fight for Iraqi oil; we should provide them with sidearms and Kevlar vests and turn them lose in Baghdad. Let them fend for themselves – -everyone else comes home.

The country doesn't need two War Parties. The current system is broken and needs to be replaced. What we need is a Labor Party that addresses the issues that are important to working class people. Labor Party affiliation should be the equivalent of union membership; providing a clear statement of support for pensions, universal health care, maternity leave, yearly wage increases tied to productivity, profit sharing, collective bargaining rights and 50% representation on all corporate boards. The goal of a Labor Party should be to achieve a power-sharing agreement with management that will combine the objectives of both parties in a common vision for the future. It's worked in Europe and it can work here. It's the only way we'll succeed in rebuilding the middle class and avoid unnecessary conflicts.

Anyone who thinks politics is just about "making money" is nuts. Politics is about power – and that should be the goal of Labor – raw political power. Nothing else will do.

What's needed is a broad coalition of leftist organizations which represents the basic interests of working people.

Labor needs a voice in government and the Democrats are not that voice.

By capitulating to Bush, the Democratic Party has signed its own death warrant. Good riddance. Now, let's push the rusty hulk out of the road and go forward.

By Mike Whitney

Email: fergiewhitney@msn.com

Mike is a well respected freelance writer living in Washington state, interested in politics and economics from a libertarian perspective.


Comments

Martin
10.06.07, 16:40
93% Tax

Make such a tax and all business will go to China or Russia.


Leah Jewel
11.06.07, 14:14
Politics

This article is really interesting. We all need to really examine our individual politics and what true power really means. Striving for peace, self-sufficiency, and ultimately, interdependency is a great goal for which to shoot.


A Financial Observer
14.06.07, 13:55

93% tax? Obviously someone here forgot the lessons of macroeconomics. How did the people who earn such exorbitant salaries get there?According to your logic, they apparently attained this level of luxury because of our highway system and national guard, and other frivolous services provided by the government. Somehow these factors combined to catapult a citizen into the lap of luxury.

Why then I ask you, aren't we all living on millionaire's row? You completely discredit the one ultimate driver of capitalism: "the invisible hand". It is through sheer competition, and the desire to dominate you fellow man that the house of cards called capitalism does not fall. Those who aspire to more, achieve more. No fortune has been made by those who didn't posess a desire for more, and worked incessantly at it. Even second and third generation wealthy are all living off the fortune that was developed THROUGH THE CONCENTRATED EFFORT OF SOMEONE.

Now what happens when we decrease the rewards for effort? What happens when we apply progressive taxation? Again we run into another socieatal law. "The law of unintended consequences". When we remove the reward for achievment we remove all desire for the productivity that created where we live today. If I work a 70 hour week (as leading CEOs and Investment bankers REGULARLY do), and only net 7% of my labor's ACTUAl value what incentive do I have for persuing anything higher than a 30k job working as a manager at wendy's. The answer: there is no incentive! Highly-trained professions will leave our country (called "the brain drain") in search of greener pastures. In addition, a global marketplace will not allow companies to operate under such restrictive provisions and still COMPETE. Business in the US will fail if they DONT LEAVE. progessive tax worked in the isolationist 1950's but in today's world of multi-national corporations and open boarders it is economic suicide for a capitalist society. You want to remove the income gap? go start a commune. You want whats best for america? reward the achievers and provide enough incentive to bring out the true grit that built this country into what it is today.

capitalism requires that there are haves and have-nots. No one is low class because they didn't place themselves there. Look back through history, humans who desire greatness achieve greatness. If the low/middle class desire the fruits of this country, maybe they should start working towards it.

HAND-OUTS SOLVE NOTHING AND ONLY FURTHER A CULTURE OF "ENTITLEMENT"



Post Comment (Moderated)




IS Your Bank Safe? FREE REPORT