Posted on 06 July 2015.
Banks on the brink. Financial system close to collapse–or so said the experts. To the rescue rode the Federal Reserve Board, which authorized trillions of dollars for all sorts of financial institutions, domestic and foreign…even if said institutions didn’t need the money but were happy to take essentially free money.
That was back during the financial crisis.
Now, it’s Greece and its banks running short on cash, squeezed by the money lenders and, in particular, the European Central Bank. So, why not: the Federal Reserve Board should be directed by Congress to commit to providing liquidity to Greek banks so the people in Greece–millions of human beings–can pay their bills, get their pension payments and continue to have money to buy food–or cut off the ECB from its Fed-backed line of credit.
Posted on 05 July 2015.
This is a short post. But, an important one that says a lot.
Posted on 02 July 2015.
I’m skeptical of putting too much into polls so early out, largely because you can never predict events that actually happen in campaigns much closer to the election and shape the results. But, in an insurgent, grassroots campaign, this is worth paying attention to.
Posted on 30 June 2015.
I’ve kind of laughed at the analysis percolating around that, oh, surprise, the Supreme Court is a liberal bastion…or not so conservative. Well, it was a great day when marriage equality became the law of the land. But, while everyone can now marry, the Supreme Court has a very clear five vote conservative bloc when it comes to empowering business, enhancing class warfare and making it impossible to make a decent living…married or not.
And it is now gearing up to potentially destroy public sector union.
Posted on 29 June 2015.
The underlying issue in Greece is simple: the oligarchs wants the people of Greece to bleed, pure and simple. There are easy ways to resolve the crisis without exacting more pounds of flesh from already desperate people. But, that’s the way of the Troika.
Posted on 25 June 2015.
Look, the Supreme Court ruling is a good thing, not the least of which is that it makes the heads of three wingers on the Court and across the land explode. But, it’s important to pause for a moment and realize that the Affordable Care Act is woefully inadequate, and is the dream for insurance companies and drug companies who want to leech on people.
Bernie Sanders understands that.
Posted on 24 June 2015.
This won’t shock anyone. CEO pay is still a gold mine.
Posted on 23 June 2015.
Fast Track is now coming up for a cloture vote in the Senate. A recap follows. And I’ll try to give a paraphrased tracking of the position and votes, and ultimately which Democrats continued to abandon workers on behalf of big corporations.
FINAL VOTE UPDATED HERE. 60-37 approved. (McConnell says Corker would have voted YES but was detained)
DEMOCRATS WHO VOTED WITH BIG CORPORATIONS TO ABANDON WORKERS:
Michael Bennet (CO) Maria Cantwell (WA) Tom Carper (DE) Chris Coons (DE) Dianne Feinstein (CA) Heidi Heitkamp (ND) Bill Nelson (FL) Tim Kaine (VA) Claire McCaskill (MO) Patty Murray (WA) Jeanne Shaheen (NH) Mark Warner (VA) Ron Wyden (OR)
This means that tomorrow fast track will pass the Senate. We will see whether the TAA gets added.
Also want to add up top comments by Sherrod Brown and Bernie Sanders at the end of the debate:
Sherrod Brown: this is a celebration in corporate suites.
Bernie!!! This trade agreement was supported by virtually every big corporation, Wall Street, by the pharmaceutical industry. This agreement was opposed by every union. This will continue the policy of NAFTA,CAFTA. We need a policy that represents working people. It’s a great day for the Big Money interests.
Posted on 22 June 2015.
Tomorrow, the Senate will take a new vote on fast track. It will be a cloture vote on whether to proceed to consider a “clean” fast track bill, given the (positive-result) clusterfuck that took place in the House. Though one can imagine scenarios under which fast track can be defeated even if the cloture vote wins, it’s a lot harder.
So, this is a moment of truth. I’ll break it down into three parts.
Posted on 19 June 2015.
This is a bad state of affairs, if you are a regular worker (meaning, not someone worth millions of dollars who complains that her family is dead broke). Whether fast track becomes law may depend on the votes of 14 Senate Democrats–the very Democrats who abandoned workers just last month when the Senate passed fast track with the Trade Adjustment Assistance program attached.
Now, it’s game on again. Workers lives depend on 14 Senate Democrats who voted, in the last fast track vote,with Republicans to destroy middle class jobs.
That vote is coming again next week on a cloture vote.
And now this an easy question: Will Hillary Clinton call for the defeat of the cloture motion next week? That question needs to be asked every single day next week.
She is the one who can make a difference with a huge number of those 14 Senate Democrats.
If she stays silent, that will be a clear answer of what she believes.
Posted on 18 June 2015.
Today was a teachable moment (beyond the horrific, racist shooting in Charleston). Sometimes you have two moments that appear together and need to be connected. As I sat out West (on the road for work), it became clear that what the Pope had to say about climate change and the desperate attempts by the president to ram through fast track are deeply connected.
Posted on 18 June 2015.
Many people have made the point that the very economic system–the corrupt system–that leaves billions struggling to make ends meet while the elite party on and on and on is the same system that has ravaged the environment and threatened the very existence of humanity on the planet. Now, the Pope says it. His expected […]
Posted on 17 June 2015.
I’m always been suspicious of the “new economy” gurus who promise that the wonders of technologies will, praise be, free everyone from the chains of hard labor–this was essentially the dumb idea behind Robert Reich’s elitist nonsense about “symbolic analysts” (that was the now-discredited idea he probably thought up after he’d pushed for NAFTA and was looking for another way to promote himself). The economy, and the ability to make a living, is always about the ability of workers to have power over their work life, and leverage power to demand decent wages.
Which is why Uber was just a bunch of new exploitation wrapped in the new lingo of the “sharing economy”. A judge has seen through all that.
Posted on 16 June 2015.
You know, those fast track obsessed people seem in a big rush to make happen this bad brew of trade and corporate annihilation of decent wages. They aren’t giving up.
Posted on 15 June 2015.
It’s been amusing, sort of, to watch the corporate roaches scurrying about, looking here and there for an opening to try to revive the odious fast track legislation.
But, putting aside what we know already, there are two important lessons to learn:
1. We always need to call out phony arguments, like “burial insurance”, that politicians want to use to cover their asses when the upshot is they are happy to sacrifice workers to keep a bad system in place.
2. Organizing works–and organizing creates movements.
Posted on 13 June 2015.
You could pick a multitude of examples showing the forces on each side of the fast track fight. It’s the voices of workers against the voice of corporations (aided by 28 Democrats who need to face primaries).
Indeed, here is a quote that says it all: the fast track vote is “a victory for those with a narrow agenda that puts petty politics ahead of people, while jeopardizing the futures of millions of men and women in America.”
Oh, the source of that quote, the organization looking out for millions of workers?
It’s not the AFL-CIO.
It’s the National Retail Federation, one of the most anti-union trade organizations in the nation. There, that’s one of your allies, Mr. President.