Ramafuchs
 
  0  
Reply Thu 25 Sep, 2008 07:59 pm
@Ramafuchs,
Most of you in this forum are educated, rational and highly opinionated.
Thro this thread i had tried level best tosee USA as it is now and forget about the DREAMS OF AMERICANS.
Here is one American who had mirriored my views in decent English.
I am cock sure the following quote from this american had something to do with the title of this thread.

A profound transformation is occurring in America and those responsible for it don't want you to connect the dots. We are experiencing what has been described as a "fanatical drive to dismantle the political institutions, the legal and statutory canons, and the intellectual and cultural frameworks that have shaped public responsibility for social harms arising from the excesses of private power." From public land to water and other natural resources, from media with their broadcast and digital spectrums to scientific discoveries and medical breakthroughs, a broad range of America's public resources is being shifted to the control of elites and the benefit of the privileged. It all seems so clear now that we wonder how we could have ignored the warning signs at the time. Back in the early 1970s President Nixon's Attorney General, John Mitchell, predicted that "this country is going to go so far to the right that you won't recognize it." A wealthy right-winger of the time, William Simon, President Nixon's Secretary of the Treasury, wrote a polemic declaring that "funds generated by business…must rush by the multimillions" to conservative causes. Said Business Week, bluntly: "Some people will obviously have to do with less…It will be a bitter pill for many Americans to swallow the idea of doing with less so that big business can have more."

We've seen the strategy play out for years now: to cut workforces and wages, scour the globe in search of cheap labor, trash the social contract and the safety net meant to protect people from hardships beyond their control, make it hard for ordinary citizens to gain redress for the malfeasance and malpractice of corporations, and diminish the ability of government to check and balance "the animal spirits" of economic warfare where the winner takes all. Streams of money flowed into think tanks to shape the agenda, media to promote it, and a political machine to achieve it. What has happened to working Americans is not the result of Adam Smith's benign and invisible hand but the direct consequence of corporate money, ideological propaganda, a partisan political religion, and a string of political decisions favoring the interests of wealthy elites who bought the political system right out from under us.

It's an old story in America. We shouldn't be surprised by it any more. Hold up a mirror to this moment and you will see reflected back to you the first Gilded Age in the last part of the 19th century. Then, as now, the great captains of industry and finance could say, with Frederick Townsend Martin, "We are rich. We own America. We got it, God knows how, but we intend to keep it."

They were deadly serious. Go for the evidence to such magisterial studies of American history as Growth of the American Republic (Morison, Commager, and Leuchtenberg), and you'll read how they did it: They gained control of newspapers and magazines. They subsidized candidates. They bought legislation and even judicial decisions. To justify their greed and power they drew on history, law, economics, and religion to concoct a philosophy that would come to be known as Social Darwinism - "backed up by the quasi religious principle that the acquisition of wealth was a mark of divine favor." One of their favorite apologists, Professor William Graham Sumner of Yale, said: "If we do not like the survival of the fittest, we have only one possible alternative, and that is the survival of the unfittest. The former is the law of civilization; the latter is the law of anti-civilization."

I'm not making this up. It's right there in the record. The historians tell us that a boundless continent lay open and ready for their exploitation and "all the bounties of nature were allowed to fall into the hands of strong men and powerful corporations." Clever lawyers came up with new devices for the legal aggrandizement of private fortunes (shades of today's Federalist Society!) No labor laws or workingmen's compensation nets interfered with their profits (shades of DeLay's "Petri dish of capitalism!") No public opinion penetrated the walls of their conceit (shades of "The Great Republican Noise Machine.")

They're back, my friends. They're back in full force and their goal is to take America back - to their private Garden of Eden in that first Gilded Age when "the strong take what they wanted and the weak suffer what they must." Look no further than today's news: William Donaldson, who made a decent stab at enforcing post-Enron reform on Wall Street, is out as Chairman of the Securities and Exchange Commission; according to USA Today, the President's big donors - the captains of finance - cashed in their IOUs and came away from the White House with his head on a platter. In his place: A right-wing congressman who takes a dim view of shareholder suits and favors eliminating the estate tax, the dividend tax, the - well, there's no tax on wealth he doesn't want to eliminate. Once again the chicken coop is sold to the fox.

Back in the first Gilded Age it was the progressives who took them on, throwing themselves at the juggernaut to try and keep it from rolling over the last vestiges of democracy. They lost the first rounds and only because they kept fighting for many long years did in time America begin to balance the power of concentrated wealth with the claims and needs of ordinary people. Nowadays it's you who stand between that regenerated juggernaut and those families in Milwaukee, those folks in Tamaqua, and the millions like them around the country. You must be like the Irishman coming upon a street brawl who yells in a loud voice: "Is this a private fight, or can anyone get in it?" Not waiting, he wades in.
Wade in! Go home and tell the truth to your neighbors and fight the corruption of the system. But it's not enough just to say how bad the others are. You owe your opponents the compliment of a good argument. Come up with fresh ideas to make capitalism work for all. Ask entrepreneurs to join you - they know how to make things happen. Show us a new vision of globalization with a conscience. Stand up for working people and people in the middle and people who can't stand on their own. Be not cowed, intimidated, or frightened - you may be on the losing side of the moment, as the early progressives were, but you're on the winning side of history. And have some fun when you fight - Americans are more likely to join the party that enjoys a party. Come to think of it, go out and argue that working people should have more time off from the endless hours of tedious work that devours the soul and the long commutes that devastate families and communities.

Above all, know what you believe and why. So I have some homework for you. Here's your summer reading: Thomas Paine and the Promise of America, by Harvey Kaye, soon at your bookstores (along, I might add, with a revised and updated paperback version of Moyers on America.) Thomas Paine was the foremost journalist of the American Revolution who called forth the better angels of our nature, imbued us with our democratic impulse, and articulated our American Identity with its exceptional purpose and promise. It was Paine who argued that America would afford "an asylum for mankind," provide a model to the world, and support the global advance of republican democracy. In these pages is tonic for flagging spirits facing great odds - because it was Thomas Paine who insisted that "it is too soon to write the history of the Revolution." And writing the history of the Revolution is now up to you. That's what truly is at stake.

Good luck!
http://www.tompaine.com/articles/2005/06/06/losing_the_american_revolution.php
0 Replies
 
realjohnboy
 
  1  
Reply Thu 25 Sep, 2008 08:02 pm
@JPB,
JPB wrote:

realjohnboy wrote:


IT'S ALMOST FRIDAY. DO YOU KNOW WHERE YOUR BANK IS?

I may be wrong, but I would suggest watching WAMU this weekend.


How 'bout this evening, rjb?

http://money.cnn.com/2008/09/25/news/companies/JPM_WaMu/index.htm?postversion=2008092519


I swear I never saw that coming 5 hours after I posted. I am afraid to look anyone in the eyes for fear of causing them to die. Except Rockhead, of course (inside joke).
0 Replies
 
realjohnboy
 
  1  
Reply Thu 25 Sep, 2008 08:15 pm
@fbaezer,
But I digress. Please get back to Fbaezers' interesting story.
0 Replies
 
Ramafuchs
 
  1  
Reply Thu 25 Sep, 2008 08:35 pm
@fbaezer,
This is my story with few words but poignant to peace the hearts of sensible or sencitive read( if there is one)
As a small child( In India by birth country) i have to wake up 5 Am and make myself clean with two pants and two shirts( No alternative no choise)
as the eldest son I have to help my three sisters and three brothers) My father got a miserble salary to give all of the members of my family a decent meal and clean water.
I had lost both my parents who had showered paternal affection to upbing the kids in the family.
All my brothers are highly educated and well settled in Chennai( Madras( south india) One of my siste is a radiolist and the oher two arefamily mothers.

Let it crash is the subject and i connect my history with the subject.
I had my own song to sing.
But ina dry eco-centric world my song will never attract attention.

I am of the opinion that if you need 50 euro or dollar or yen or rupees then the system should give you a freedom to earn or amass 500 and not more.
If you disagreed let me say 20 times of your natural needs. Not one cent more.
I cannot understand a barbaric system which pollute the whole humanity by allowing some sort of halfbacked easy chair intellectuals who have no time to sip a glass of water s but enough time to suck the blood of working innocent people and getting their cool whower with the tears of the ill-informed.
This system is Against Gandhi
Anti MLK
fbaezer
 
  2  
Reply Thu 25 Sep, 2008 08:47 pm
@Ramafuchs,
Rama, your voice is important, because it shows what one of the other options really is.

You may be a lone voice here, but you speak for millions of disgruntled persons with a history similar to yours.

Not that you're right -for there is no absolute truth, and I don't think you are right- but you do make a point.

You remind me of a play, in which the characters are all upset about their problems -who may be petty, but for them are not- and an angry sweeper every now and then goes through the stage, sweeping and swearing by himself (but also, somehow, to the others... and to the audience).
Ramafuchs
 
  -2  
Reply Thu 25 Sep, 2008 08:54 pm
@Ramafuchs,
back to the pavilion here is one old( not so old) story about american business.

Jay Horowitz, owner of American Classic Toy, started putting a prominent notice last October on all his products, most of them made in China, stating that they contained no lead-based paint.
Mr. Horowitz, 60, and a New York native, has a nostalgic product line that harks back to an era when many more toys were made in the United States.

The toys that his company produces, like Snakes Alive, first released in 1966, may well look quaint to a generation of children growing up on computer games.

But unlike the handful of rivals that still manufacture toys in the United States, Mr. Horowitz, like almost everyone else in the business, remains committed to making toys in China. As a result, he has joined the industry campaign " by suppliers in China and distributors and retailers in the United States and Europe " to restore its reputation with an intense international effort to improve safety checks.
http://www.nytimes.com/2008/01/10/business/worldbusiness/10toys.html?_r=1&oref=slogin

How can a country which cross all the continents with sack full of money to export democracy, humanright can do business with japan, china, India singapore?
0 Replies
 
okie
 
  2  
Reply Thu 25 Sep, 2008 09:01 pm
"Note that McCain and the GOP and Alan Greenspan and Bush were all warning of this in 2001, 2003, 2005 and 2006. Legislation for reform and oversight of Fannie-Freddie was proposed and was blocked every time - on party line votes - by the Democrats. Ignoring it won't change it, O!bots.

DEMOCRATS 08 - PARTY BEFORE COUNTRY."


http://mypetjawa.mu.nu/archives/194210.php
Ramafuchs
 
  -1  
Reply Thu 25 Sep, 2008 09:15 pm
@okie,
Let me appeal to you with high regard and due respect.
Mistake or blunders are inevitable.
We all are human.
But pthe proble here is this.
this title is about capitalism and its fallacies.
As a person who hug the whole human innocents i wish not to go to bed with this kind of bail out for those nasty rascals who had ruined the economy and image.
Instead of saving those barbarians one should bring to the international criminal court for disturbing the system.

In this case I had not singled out my beloved BUSH but exposed the system he had sustained, nurtured without any torture or humiliation.
OCCOM BILL
 
  2  
Reply Thu 25 Sep, 2008 09:31 pm
@fbaezer,
Thank you for sharing your story Fbaezer. I always enjoy your wisdom.
And thanks for pointing out Rama's (wouldn't have seen it otherwise.) I wouldn't say he's right either... but there's some wisdom to be had there too.

I think we in the United States should feel pretty damned fortunate to have an economy that may be able to survive such incredible mismanagement... and wonder how far my thoughts might be from Rama's, had I his life's experience.
Ramafuchs
 
  -1  
Reply Thu 25 Sep, 2008 09:31 pm
@Ramafuchs,
some strange things are ruining the decent world.
Here is a timely warning from an American
U.S. presidential race holds risks for global economy

By David Morgan Reuters
Published: January 8, 2008
http://www.iht.com/articles/2008/01/08/business/rtrecon.php
am i to sell my individuality to join the majority?
I say no not once or two times but
more than the bail out times.
0 Replies
 
Ramafuchs
 
  -2  
Reply Thu 25 Sep, 2008 09:41 pm
@OCCOM BILL,
As a rationalist without any regrets or repentenace in my whole life i beg to submit that i am dead against unchecked barbarism or capitalism.
I have enough experience in india.
Ihugh all the innocent decent americans.
the moment some shows their intellectula impotence then i should expose with American cut and paste which i did not only here in this thread but elsewhere.
language is a medium to exchance, communicate.
English has many varieties..
US economy is an admixture of misadventure with borrowed brain and money.
Ramafuchs
 
  -2  
Reply Thu 25 Sep, 2008 09:57 pm
@Ramafuchs,
Bankers | Politics and Power
Good-bye Porkpie Hat
by Lauren Tumas
September 25, 2008, 2:47 PM


My heart was broken when I heard that Goldman Sachs will be paying its employees a measly $2.5 billion in bonuses this year. After lavishing its 30,500 workers with a record-breaking $12.1 billion in bonus pay last year, that just had to hurt. Now the word on Wall Street is that these magnificent money men won’t be banking on any windfalls in the future. As they wave good-bye to their seven-figure bonuses, other perks are sure to follow. Below, a list of some of the things the embattled financial companies might be doing away with, and some of the benefits they’ve already snipped:

Sex Changes
Goldman Sachs, Bank of America, Deutsche Bank, and Wachovia all offer health-insurance plans that cover transgender treatments.

Guard Dogs
It looks like Lehman Brothers’ beloved Bella, the canine who worked the door at 745 Seventh Avenue, has already gotten the boot.

Unlimited Canned Soda, Bottled Water, and Fruit
Goldman Sachs traders now have to spring for their own beverages.

Frivolous Printing and Color Copying
Citigroup is removing non-essential printers and copiers.

Corporate Aircrafts
In the past, JPMorgan chief Jamie Dimon has spent $374,958 on air travel. That kind of spending probably won’t, er, fly anymore.

Lifetime Use of Corporate Aircrafts
Citigroup’s former chairman Sanford Weill retired in 2006, but was given lifetime use of the company jets. Is his contract negotiable?

Corporate Cars
Records indicate that Goldman Sachs head honcho Lloyd Blankfein racks up $233,000 a year in car services. Let’s see how much he spends in 2008.

Multiple BlackBerrys and Personal Calls
Citigroup is now conducting reviews of BlackBerry usage.

First-Class Flights
Merrill Lynch has banned first- and business-class travel for all domestic flights.

Office Space and Furniture
Citigroup is limiting furniture purchases and cutting back on office and workstation moves.

Personal Financial Counseling
Freddie Mac, Sallie Mae, and Capital One all offered their executives financial counseling in 2007. That’s kind of a terrifying thought.

Temporary Employees, Contactors, and Systems Consultants
Citigroup will be conducting detailed reviews to see if they are worth keeping.

Investment Options
How much longer will Morgan Stanley give its employees sweet investment perks?

Country-Club Memberships
Fannie Mae started making its workers pay for country-club memberships last year.

Strippers
Not a business perk, but we’ll point out that since the market crashed, New York City escorts have complained that sales are down.
http://www.vanityfair.com/online/politics/2008/09/goodbye-pork-pie-hat.html

Ramafuchs
 
  -3  
Reply Thu 25 Sep, 2008 11:11 pm
@Ramafuchs,
Talks Implode During Day of Chaos; Fate of Bailout Plan Remains Unresolved-- NYT
Some times I get confused with the american media's language.
the above title should be in my language and it is this
Amidst chaos the bailout plan was ignored.
I wish not to die as an embedded editort or journalist to confuse the people to earn my bread.
Ramafuchs
 
  -2  
Reply Thu 25 Sep, 2008 11:50 pm
@Ramafuchs,
Talks End for Night After Accord Crumbles.
this English is journalistic. But why the hell NYT wish to fish in the troubled water by this kind of two Enslish?
Ramafuchs
 
  0  
Reply Fri 26 Sep, 2008 12:44 am
@Ramafuchs,
The same NYT had made use of so many words to expose the hypocracy.

"There should be no more balking. Any bailout bill must allow struggling homeowners to modify their mortgages in bankruptcy court. Mr. Paulson should drop his opposition now. If he won’t, Congress should insist on the bailout for homeowners. Americans’ $700 billion investment needs to be protected.
the above concluding sentense is so unprecise that i have to read twice to understand..===
We are not COMMUNIST but we adhere and follow the freedom of behaviour.( 13 words)
0 Replies
 
FreeDuck
 
  1  
Reply Fri 26 Sep, 2008 06:33 am
@fbaezer,
Thanks for sharing your story, fbaezer.

0 Replies
 
revel
 
  2  
Reply Fri 26 Sep, 2008 06:41 am
Quote:
ABC News' George Stephanopoulos Reports: Treasury Secretary Henry Paulson fears the Wall Street bailout deal is falling apart after a chaotic White House meeting, sources say.

Paulson walked into the room where Democrats were caucusing after today's meeting at the White House and pleaded with them, "Please don't blow this up."

Rep. Barney Frank, D-Mass., chair of the House Financial Services Committee was livid saying, "Don't say that to us after all we've been through!"

House Speaker Nancy Pelosi said, "We're not the ones trying to blow this up; it's the House Republicans."

"I know, I know," Paulson replied.


http://blogs.abcnews.com/politicalradar/2008/09/stephanopoulo-6.html

There may very well be problems with this bill, but what happens if we don't do anything and all the warnings become reality?
spendius
 
  1  
Reply Fri 26 Sep, 2008 07:06 am
Is there a differential exposure by state?

Suppose a state has very little "toxic" debt. Why should such a state be taxed for the states at the other extreme?

If they are then the "bad" states are doing exactly what the bankers are accused of doing.
0 Replies
 
JPB
 
  2  
Reply Fri 26 Sep, 2008 07:07 am
@revel,
How many House Republicans would need to be on board to pass it? Are they saying there aren't ANY House Republicans who would support it?
Bi-Polar Bear
 
  2  
Reply Fri 26 Sep, 2008 07:41 am
@JPB,
this is being held up for two reasons.... one ... to help mccain avoid the debate at a time when it would be even more uncomfortable for him. two... to figure out how to present a package mccain can claim credit for. Period.
 

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