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Class Warfare

Tony Wikrent's picture

HAWB 1870s - American producer class hero Peter Cooper - How America Was Built

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I suppose some words of introduction are in order. Around the end of 2014, I conceived the idea of compiling a chronological history of how the USA economy had actually been built, highlighting the role of government in nurturing and promoting science and technology in industry, agriculture, and transportation. This would, of course, directly repudiate the right-wing myths of heroic entrepreneurs as "wealth creators" in a "free market" liberated from the deadening hand of government. Read more about HAWB 1870s - American producer class hero Peter Cooper - How America Was Built

DCblogger's picture

Time for Doug McMillon to show some leadership

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Kick the Poors

Republicans controlling the House are proposing $23 billion worth of food stamp cuts over the coming decade.

That is, in effect, proposing a cut of $10 billion in Walmart's gross sales over the coming decade. Why would McMillon stand for that? Read more about Time for Doug McMillon to show some leadership

DCblogger's picture

Panama Papers

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$12 Trillion Looted from Developing Countries and Hidden Offshore

Published on May 9, 2016
Tax Justice Network's James S. Henry says authoritarian regimes account for over $11 trillion of "missing" offshore financial wealth from emerging economies

letsgetitdone's picture

Real Fiscal Responsibility, Vol. II: The Peterson Network, Inequality, and the Failure of Neoliberalism

This is how the mission of the President’s National Commission on Fiscal Responsibility and Reform was defined by the White House on February 18, 2010:

The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run. Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy. In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.

And here is what President Obama’s web site had to say about deficit reduction in 2012:

Right now, President Obama is working with leaders of both parties in Washington to reduce the deficit in a balanced way so we can lay the foundation for long-term middle-class job growth and prevent your taxes from going up.

letsgetitdone's picture

For US Democracy: There Is Only One Choice

Cover of Real Fiscal Responsibility, Vol II

We need big, big changes in the United States. Many of them will require the Federal Government to spend unprecedented amounts, including deficit spending to enable us to solve problems that have languished, creating needs, for many, many years.

How can we get these changes legislated through a political system that has been increasingly less responsive to most people over the past four decades. There’s only one way that will work without revolution.

We need a movement for change powerful enough to replace the present establishment of House and Senate legislators and presidents wanting to preserve their way of looking at how to do things, with another group that has concluded that change is desperately needed and must be accomplished come what may, whatever the cost in long established customs and traditions in both Houses of Congress and among the vested political and communications elites in the Washington, DC/New York “village.” But not just any changes will do. Read more about For US Democracy: There Is Only One Choice

letsgetitdone's picture

An Excerpt from Real Fiscal Responsibility, Vol I: the Progressive Give-up Formula

Below is an excerpt from my most recent e-book: Real Fiscal Responsibility, Vol. I: The Progressive Give-up Formula. The book is volume I of II critiquing austerity politics at the Federal level in the United States. It exposes its fallacies, its closed-mindedness and futility, and especially its reliance on wrong-headed conceptions of fiscal sustainability and fiscal responsibility.

In this volume, I relate neoliberalism, the Washington Consensus, and austerity politics pushed by the powers that be among the DC Village progressives, and the ideas of fiscal sustainability and fiscal responsibility, to the perspectives of Modern Money Theory (MMT), including MMT-based ideas about fiscal sustainability and responsibility. I also explain what I mean by real fiscal responsibility, rather than faux fiscal responsibility, and apply these ideas to an analysis of the US Government during the term of Jimmy Carter. I begin my analysis of current progressive ideas and activities by examining the views of Senator Bernie Sanders, and Elizabeth Warren, and then continue by analyzing the operation of the give-up formula among Congressional and DC progressives during the period 2009 - 2010, when the Democrats had big margins in Congress. I then move to the period 2011 – the present. Next, I analyze the Campaign for the American Future and its New Populism Campaign, and then conclude by relating the give-up formula to real fiscal responsibility.

metamars's picture

Rollback of minimum wage in Germany, linked with immigration surge, presages what TPP passage will do to the US

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Long ago, yours truly has expressed his conviction that the economic fallout from passage of TPP will be far greater due to unrestricted IN-sourcing, as compared to increased OUT-sourcing. (Furthermore, my continuing disparagement of the hapless anti-TPP 'activists' is partly due to their avoidance of this issue.) Read more about Rollback of minimum wage in Germany, linked with immigration surge, presages what TPP passage will do to the US

metamars's picture

Anti-TPP 'Activists' Finally Address Immigration, Totally Miss the Boat

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Yours truly has been writing about the threat posed by unlimited IN-sourcing via the TPP, while complaining, out loud, about how the anti-TPP 'activists', no matter how often they mentioned increased/easier OUT-sourcing, were curiously silent about the IN-sourcing threat. Read more about Anti-TPP 'Activists' Finally Address Immigration, Totally Miss the Boat

letsgetitdone's picture

Some Platinum Coin Objections from the Mainstream: Part V

This is Part V, and the conclusion, of the series providing my reply to Philip Wallach’s reply to my evaluation of his views on the platinum coin proposal and other options for settling debt ceiling conflicts. In Part I I discussed some preliminary mis-characterizations of what I said and, more importantly, why the commonly recognized fiscal policy rule that, at least over a number of years, government revenues ought to match government spending is fiscally unsustainable and fiscally irresponsible in light of deductions from the Sectoral Financial Balances (SFB) model.

In Part II I continued with a discussion of political legitimacy and usurpation issues and then covered some legal objections to using the $100 T platinum coin option related to the “intent” of the coin law. In Part III, I discussed a legal objection based on Wallach’s view of the intent of the coin law, which quickly morphed into a political objection about the desirability of mutual respect and comity among the three branches of government, as well as the threat to political legitimacy arising from the judgment that the platinum coin option is really “weird.” Read more about Some Platinum Coin Objections from the Mainstream: Part V

letsgetitdone's picture

Some Platinum Coin Objections from the Mainstream: Part IV

This is Part IV of my reply to Philip Wallach’s reply to my evaluation of his views on the platinum coin proposal and other options for settling debt ceiling conflicts. In Part I I discussed some preliminary mis-characterizations of what I said and, more importantly, why the commonly recognized fiscal policy rule that, at least over a number of years, government revenues ought to match government spending is fiscally unsustainable and fiscally irresponsible in light of deductions from the Sectoral Financial Balances (SFB) model.

In Part II I continued with a discussion of political legitimacy and usurpation issues and then covered some legal objections to using the $100 T platinum coin option related to the “intent” of the coin law. In Part III I discussed a legal objection based on Wallach’s view of the intent of the coin law, which quickly morphed into a political objection about the desirability of mutual respect and comity among the three branches of government, as well as the threat to political legitimacy arising from the judgment that the platinum coin option is really “weird.”

In this, Part IV, I’ll continue discussing the “weirdness” objection, and also cover Wallach’s views on Inflation and hyper-inflation, and Modern Money Theory. Read more about Some Platinum Coin Objections from the Mainstream: Part IV

letsgetitdone's picture

Some Platinum Coin Objections from the Mainstream: Part III

This is Part III of my lengthy reply to Philip Wallach’s reply to my evaluation of his views on the platinum coin proposal and other options for settling debt ceiling conflicts. In Part I I discussed some preliminary mis-characterizations of what I said and, more importantly, why the commonly recognized fiscal policy rule that, at least over a number of years, government revenues ought to match government spending is fiscally unsustainable and fiscally irresponsible in light of deductions from the Sectoral Financial Balances (SFB) model. In Part II I continued with a discussion of political legitimacy and usurpation issues and then covered some legal objections to using the $100 T platinum coin option related to the “intent” of the coin law.

In this installment I’ll continue with more discussion of political objections. Read more about Some Platinum Coin Objections from the Mainstream: Part III

DCblogger's picture

Usually plutocrats don't say stuff like this in public

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$15/hr Opposition Campaign “Shut Up & Work Faster” Launches

PORTLAND, ME — The campaign against the Living Wage ordinance appearing on Portland ballots this Nov 3rd has begun.

Business owners have raised over $100,000 to defeat a local referendum that would lift workers out of poverty by raising the city’s minimum wage to $15 per hour by 2019.

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