Wall Street

The Democratic Presidential Race Has Begun With Former Montana Governor Brian Schweitzer Comments!

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Former Montana Governor Brian Schweitzer has fired the first shots of the Democratic Presidential race, making us realize that the concept that, somehow, Hillary Clinton would win the nomination without challenge, and by default, is a dream that is not going to happen.

Schweitzer, who served two successful terms as Governor of the fourth largest state in land area, but eighth smallest in population, gained a reputation as a western populist, and has been critical of “corporatists”, which in his mind include Hillary Clinton and Barack Obama, who are too cozy with Wall Street, and have not promoted the idea of pursuing indictment of Wall Street leaders for the Great Recession of 2008.

This is one issue on which many liberals and progressives have had trouble with President Obama, who relied on Larry Summers, Timothy Geithner and other icons of Wall Street, in making his economic policies.

So the left of the Democratic Party, including Senator Elizabeth Warren of Massachusetts, Socialist Senator Bernie Sanders, and Schweitzer, among others, have been critical, and while Warren has said she is not running for President, and Sanders says only that he is considering it, Schweitzer has been out front in criticism on economic matters.

Additionally, Schweitzer has thrown a shot across the bow at Hillary Clinton and other US Senators who supported the Iraq War intervention, which he made clear he thought was a major mistake.

So without formally announcing, Schweitzer has hinted strongly that he will enter the race, if nothing else than for the reason that, even assuming Hillary has the edge and might be the nominee of the Democratic Party, that competition is good, and that it would make Clinton a better candidate, than one who is treated with kid gloves and is not ready to fight for the nomination and the Presidency in full combat gear.

Right now, however, the odds that Schweitzer, or anyone else, other than maybe Vice President Joe Biden, can stop Hillary Clinton from being the nominee of the Democratic Party, is highly speculative, but it makes the upcoming primaries and caucuses two years from now a lot more interesting and exciting than it might have been.

So, former Montana Governor Brian Schweitzer, welcome to the fray!

Senator Rand Paul And The Unemployed

Ronald 3 Comments

Senator Rand Paul of Kentucky, who has never experienced what it is to be poor, unemployed, deprived in any form, is advocating that those millions who have been unable to find work should be punished for that fact, and be cut off unemployment compensation, despite the worst economic downturn since the Great Depression.

Paul points out that employers are more likely to hire people out of work for four weeks than 99 weeks! That in itself is disgraceful discrimination, blaming the unemployed for what the wealthy on Wall Street did to us, in cooperation with the administration of a Republican Congress and President in the early 2000s, leading to the Great Recession.

So these unfortunate souls should lose their last lifeline, and go homeless and starve, as “tough love” is the so called “answer” for those down and out.

And of course, the dropping of unemployment compensation is teamed with massive cuts in food stamps, and refusal to consider an increase in the minimum wage, which, if it had kept up with the cost of living since 1968, would now be over $21 an hour.

So kick the disadvantaged when they are down, Rand Paul, heh? And this is the “Christian’ spirit? What is wrong with you and your disgraceful colleagues?

The Pluses And Minuses Of A Bernie Sanders Independent Presidential Candidacy

Ronald 1 Comment

Vermont Senator Bernie Sanders is a true national treasure, an independent Socialist, longest serving Independent member of Congress in American history, who allies with the Democratic Party but is not a member of the party.

Sanders, originally Mayor of Burlington, Vermont, served as the only House member from his state for 16 years, from 1991-2007, and is now in his second term in the US Senate.

He has now devoted 23 years to service for his state and the nation, and even if one does not agree with his stands on issues, no sane person sees him as a threat simply because he is a “socialist”.

Sanders has now suggested that he might run as an Independent candidate for President in 2016 if no one else in the Democratic Party is willing to promote what he believes in, suggesting Senator Elizabeth Warren as a potential nominee that he could support.

Sanders makes it clear that someone has to run on the issues of Wall Street control, the problem of growing poverty affecting the middle class, the crisis of global warming, and the need to protect Social Security and Medicare, all issues he has been in the forefront on, more than just about anyone else.

The danger of a potential independent candidacy by Sanders, which he admits is mostly unlikely, is that it would split the Democratic vote and help a right wing Republican to win the White House.

That was the effect of Ralph Nader in the Presidential Election of 2000, and the last thing we need is a Republican who will set progress backward ever further.

So while Bernie Sanders is appealing, it is hoped he will decide, ultimately, not to run, and if Elizabeth Warren runs and loses, that she will unite behind whoever is the Democratic nominee, even if seen as a comparative moderate, such as Hillary Clinton or Joe Biden or Mark Warner.

113th Congress Far Worse Than Least Productive Congress In American History, 112th Congress!

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The 112th Congress of 2011-2012 produced the fewest laws in modern history, a total of 283. It was thought that was a low that could not be surpassed.

But the present 113th Congress is reaching a new low that is hard to conceptualize, as it has passed only 36 laws, and the public opinion rating of Congress is at an all time low, about 10 percent, with a poll showing that a majority of Americans believe that a random group of people chosen to replace the present Congress could do a better job!

Both parties are suffering in public opinion, but the Republican Party brand is in free fall, as a result of shutting down the government for 16 days and threatening rejection of the raising of the debt ceiling. The GOP is involved in a civil war between the establishment and the libertarians and Tea Party Movement, and Wall Street is working to support establishment, mainstream conservatives over the Tea Party brand in Congressional races for 2014, with the distinct possibility that the Democrats have a chance to gain control of the House of Representatives, and keep control of the US Senate.

The gerrymandering of House districts, however, makes taking over the House a major problem for Democrats for the remainder of the decade, but since only 17 seats are needed to gain the majority, the potential is there, if the public opinion ratings of the Republicans continue their collapse that is going on at the moment.

The problem is that a year is a long time in American politics, and anything can happen, as people have short memories!

The One Virtue Of The Government Shutdown: John Boehner And Mitch McConnell Will NOT Support Another Such Shutdown!

Ronald 5 Comments

The one virtue that comes out of the federal government shutdown, which cost the Gross Domestic Product $1.5 billion a day, a total of $24 billion for 16 days, is that it has convinced GOP leaders that the tactic will not work,

Senate Minority Leader Mitch McConnell has stated that he will NOT allow another government shutdown, as he is well aware how it has hurt the Republican brand, with nothing gained by the action. He will face a Tea Party opponent in the Kentucky Senate primary, including the opposition of former Alaska Governor Sarah Palin and Senator Ted Cruz, but this should make a good case for opposition to those Tea Party lunatics who have no concern about the effect on the American economy of what they supported.

Speaker John Boehner has not stated quite the same sentiments, but it is clear that he will not support such a looney concept the next time, as he ended up backing away at the brink of the crisis.

Yes, McConnell and Boehner are both to be condemned for their handling of the situation, but at the end, both were ultimately responsible when push came to shove, and they and the Establishment Republicans have learned a hard lesson,

With the help of Wall Street, the Tea Party lunatics will face challenges in the primaries from mainstream Republican conservatives, and hopefully, some will lose their seats either to these establishment types, or the seats will swing over to the Democrats, with the chance of a Democratic takeover growing, and the likelihood of a Republican takeover of the US Senate a less likely scenario, as a result of the government shutdown and debt ceiling debacle.

As Barack Obama declared, it is time for serious action on immigration, tax reform, and the farm bill, instead of wasting time on what is ultimately a lost cause, the destruction of ObamaCare by repeal, which is NOT going to happen.

Anyone who seriously thinks the Tea Party Movement will triumph in 2014 and elect Ted Cruz President in 2016, with a Republican House and Senate, is certainly using hallucinatory drugs, and needs to be hospitalized for mental observation!

Five Years Since Financial Collapse, And What Has Been Learned? NOTHING!

Ronald 30 Comments

Five years ago this week, the financial markets on Wall Street collapsed, and America fell into the Great Recession, which many might consider the Second Great Depression, now five years long, despite claims the Great Recession is over.

Lack of proper regulation of Wall Street and the banking industry, a result of GOP control of Congress for 12 years, and a Republican President, George W. Bush for 8 years, along with some manipulation by leading Democrats, led to the worst economic outlook since 1941, and even now, five years later, with the improved economic conditions, employment will not return to pre 2008 levels until 2020 at the rate of job creation now existing!

A lot of this reality is due to refusal of the Republican Party to cooperate on legislation to create and encourage jobs, including infrastructure jobs and promotion of education training, and working to return overseas jobs to America.

But also, the Obama Presidency has not worked adequately to reform the banking structure and Wall Street, and the possibility of Larry Summers being Federal Reserve Board Chairman is precisely the WRONG thing to do, as he is part of the problem that led to 2008, and is an arrogant, overbearing, obnoxious individual who should be told to “take a hike”, with Janet Yellen the far better candidate to be the head of the Fed!

So if it going to take a grand total of TWELVE years from beginning to end for this Great Recession to be over, how is that different from the Great Depression which lasted from 1929 to 1941?

Meanwhile, a whole generation of people are suffering in terms of employment, something that will scar their future, and that of the American economy!

This is a very sad, troubling situation that must not be allowed to happen again, but it seems as if NOTHING has been learned!

Bill De Blasio Would Be First NYC Progressive Mayor Since John Lindsay And Fiorello La Guardia!

Ronald 2 Comments

NYC Public Advocate Bill De Blasio has surged to the lead in polls for the Democratic primary for NYC Mayor, over Anthony Weiner, Bill Thompson, and Christine Quinn, and it is clear that he would be the best hope for a progressive mayor, who would work to end economic inequality, and promote education and health care, and seek to limit Wall Street power, so evident under Mayor Michael Bloomberg, a Mayor with a mixed record.

And the fact that he has been against “Stop and Frisk”, the policy just declared unconstitutional by a federal judge, the only candidate to be against it all along, helps De Blasio, who is married to an African American woman, and has a 15 year old son, who, with his African American appearance and age, would be a prime candidate for being stopped by the police, based on racial profiling.

New York City has not had a true progressive Mayor since John Lindsay (1966-1973), who had many shortcomings, and really, the last truly progressive mayor and success as Mayor goes back to Fiorello La Guardia (1934-1945).

Republican Factions And Hatred Of President Barack Obama

Ronald 40 Comments

The Republican Party is creating a history they will not be proud of, when the history books are written on the times we live in!

Yes, every President has opposition from the party out of power in the White House!

But the level of hate against Barack Obama is beyond all sane limits!

One faction, the establishment Wall Street Republicans, hate Obama for the gall that he has, expecting that after years of lack of regulation of Wall Street and the oil companies, and years of massive tax cuts for the top two percent, that he dares to promote regulation, and higher taxation of the wealthy!

Another faction, the Tea Party radicals, are out to return America to the 19th century, condemning everything the New Deal of FDR and the Great Society of LBJ have done to promote equity, fairness, and justice in America in the past century, and they see Barack Obama as the inheritor of those highly popular and successful programs! Instead, they want to put labor, women, minorities, and the poor back to the times that existed in the Gilded Age and early 20th century, a time of laissez faire capitalism and Social Darwinism. And much of the Tea Party Movement resembles the old South of the Confederacy, longing for a return to the pre Civil War mentality, as well! And therefore, the average middle class person is being exploited by the right wing groups led by the Koch Brothers and other corporate interests, who see a way to manipulate public opinion for their own selfish, greedy desires to dominate and increase their acquisition of wealth at the expense of 98 percent of the population!

And then, there are the Christian conservatives, who want to control our private lives and impose a theocracy on America, denying the Founding Fathers’ promotion of separation of church and state. In so doing, they wish to cause more control over our lives, while rejecting economic regulation and pushing social regulations, and they see Obama as a threat to their agenda!

The fact that we have been experiencing the effects of the Great Recession has allowed these groups to exploit the situation, and allow them to make it seem as if Barack Obama has created these conditions, when these groups are simply acting demagogic in their desire for control, and advancement of their own agendas, against the interests of the American people at large!

The Coming Battle For The GOP Presidential Nomination: Marco Rubio Vs. Ted Cruz, With Rand Paul As Wild Card!

Ronald 86 Comments

It is becoming increasingly clear that the battle for the GOP Presidential nomination in 2016 is going to be between Senator Marco Rubio of Florida and Senator Ted Cruz of Texas, with Senator Rand Paul of Kentucky being a “wild card”!

The possibility of former Florida Governor Jeb Bush, former Pennsylvania Senator Rick Santorum, Governor Chris Christie of New Jersey, or Wisconsin Congressman Paul Ryan to be the nominee seems very distant.

So it will be two Hispanic (Cuban) Senators battling one another, one trying to work with Democrats on an immigration reform bill, and the other on the warpath against all Democrats, as well as Rubio himself, unwilling to make any deals or promote any cooperation with the “enemy” And hoping to benefit from the battle between Rubio and Cruz is Rand Paul, who with his libertarian bent, will have a major problem attracting many conservatives, including the neoconservatives and the Establishment Republicans of Wall Street.

In the end, it will not matter, as no Republican can overcome the Electoral College advantage of the Democrats, as outlined yesterday in a blog entry.

And the concept that Cuban American Senators, who represent three and a half percent of Hispanics and Latinos, will be able to convince large numbers of Mexican Americans, who are 65 percent of all those with Spanish heritage, to vote Republican, is laughable.

So it will be an interesting sideshow, the battle among Rubio, Cruz and Paul, but at the end, we are likely to have Hillary Clinton as our next President!

The True Heroes Of Natural And Man Made Disasters: Teachers, Nurses, Paramedics, Police Officers, Firefighters!

Ronald 24 Comments

Again, with the Oklahoma and Boston Marathon tragedies, as so many others, it is PUBLIC servants–teachers, nurses, paramedics, police officers, firefighters–who are the true heroes, doing beyond the call of duty to rescue and save lives!

But yet, these public servants are constantly pilloried and condemned, if they demand a living wage and decent benefits, as appreciation for their services, while people in the world of business make outrageous salaries and perks on Wall Street, and think that they deserve what they get, despite having messed up the economy, causing the Great Recession of 2008, as they have in every recession since the Great Depression!

We are told to worship Jamie Dimon of JP Morgan Chase, and other bank CEO’s who, by all justification, should be in prison for their actions!

We allow the Koch Brothers and the Walmart heirs to run rampant without any consideration of how they exploit their work force, and these are just examples, not the only ones.

We have Apple and Walmart and Target and numerous other companies which exploit foreign workers, and do not give a damn about safety or a decent living wage for these poor women and men who died in the disaster recently in Bangladesh!

It is time to hold these corporate leaders and companies accountable, and stop complaining about public servants who deserve respect and dignity and better pay for their sacrifices and dedication to the people they serve!