America Needs a New Pill, Not Corporate Welfare
September 17th, 2008
Under the Microscope
by Glynn Wilson
What is the point of electing a conservative president who will give big business everything they say they want to make massive profits at the expense of consumers, when they are just going to come calling on the federal government for a bailout when they fail anyway?
If giant financial investment firms and global insurance companies can’t stay in business and make a profit with the corporate welfare offered them by the likes of the Bush administration, isn’t it time to start searching for a different business model?
The Bush neo-conservatives gave them every tax break they asked for and allowed them to merge with each other at will over the past eight years without any government regulations or intervention from a Republicanized Justice Department.
Yet somehow, they managed to lose money anyway and are now asking to be bailed out by U.S. taxpayers to the tune of more than $900 billion!
Profits ‘Privatized,’ Corporate Losses ‘Socialized’?
For that amount of money, we could have provided free health care and a free college education to every man, woman and child in America. And we would be a smarter country for it.
Instead, the under-educated masses of people in this country are on the verge of electing another team of neo-conservatives to take over the White House, neither of whom know anything about economics or how to run a company or a government.
Let’s just go ahead and call a pig a pig. All the years of anti-intellectual liberal bashing by the corporate and Christian right in this country has now driven us completely over the edge of sanity. America is insane and needs a pill. Like Huey Lewis sang in the 1980s, maybe we need a “new drug.”
All the Budweiser and the Jack Daniels and the cocaine has taken its toll. Maybe it’s time to legalize marijuana. It may screw with your memory now and then, but at least it makes you think. And the taxes on the pot smoked by 50 million Americans might just eliminate the Bush deficit.
We are a country that simply does not think. We listen to the sound bites and vote our prejudices and we end up with dimwits like George W. Bush in the White House, just so we can feel like he is one of us, as dumb as us. And Sarah Palin fits that bill to a tee.
In a conversation with a certain college professor at the University of Alabama yesterday, we spoke of the state of American politics, and specifically the state of mind of the redneck voter.
The most-often-heard phrase from the brainwashed Republican crowd of late, since the nation’s conversation turned almost exclusively to the new political star with Tina Fey glasses who eats mooseburgers, is that “she is hot.” The phrase that follows is: “She gets my vote.”
And this professor made a good point.
“I want someone way smarter than I am to run things,” he said. “All the people I come into contact with just want some average Joe like them to be in charge. That’s insanity.”
Just a few weeks ago many in this same crowd were not so high on Senator John McCain, the fake “maverick” who has not exactly marched in lockstep with the Christian conservative agenda over the years. But now they are willing to vote for him because he picks a redneck woman who can hurl anti-intellectual, right-wing insults as well as Bush and his former brain, Karl Rove?
And there’s not one single news organization in this country willing to try and raise a red flag on all of this and say “enough corporate welfare is enough!”
Even Alexander Hamilton must be rolling over in his grave these days at the current definition of run-amok corporate capitalism that dominates the discussion.
The United States of America was not supposed to be a religious monarchy ruled by an unregulated oligarchy.
The idea that all people are created equal and should have an equal chance of finding happiness in this world does not jive with the idea that corporations and their CEO’s get all the benefits, while workers languish in poverty without health insurance.
The idea was to create a level playing field in a society of middle-class Americans. This land is not supposed to be a playground for the rich filled with peasants who can’t afford to buy gas for their pickup trucks.
So why do the rednecks with pickup trucks who can’t afford the gas still support this kind of government?
That is the big American mystery.
Perhaps we need a blue ribbon panel of psychiatrists and sociologists to diagnose the problem and propose a cure.
Or maybe the pharmaceutical industry, with all the tax breaks from Bush and company, should spend some of those billions we give them on developing a new “smart” drug.
We should test it first on the editors and publishers at the nation’s news outlets. If they sit by and let the dumbasses run the White House for another four or eight years, they will soon be asking for a government bailout themselves. Printing newspapers catering to people who don’t read cannot go on for a profit much longer.
If they want run-amok corporate capitalism, they should be allowed to fail and go out of business and to hell with the consequences.
Where is the political candidate who will stand up and say this? “What we need in this country is a welfare reform program for corporations.”
If Congress wants to do some good at this juncture, rather than granting the oil companies the right to destroy our beaches and the tourism industry with offshore drilling within three miles of the nation’s coastlines in a move that will do nothing to lower gas prices for years, if ever, they would be better off standing up against the corporations and for workers and “just say no” to more corporate welfare.
At the very least they should tie any federal bailout to a promise to slash the salaries of do-nothing corporate managers and raise the salaries of workers. Now that might actually help the economy out of this hole.
For all the talk about giving working families in this country tax breaks so they can “keep more of their money to spend,” what about supporting policies that would actually give people more money to spend?
Nah, that would just be socialism, eh?
And we don’t believe in that, do we?
Unless a Wall Street investment firm fails or an insurance company goes bankrupt. Then they are the first in line at the federal government welfare office.
I say let them eat cake.
Comments
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September 17th, 2008 at 12:02 pm
Here’s my thought for the day for my Republican friends: What is the cause is the Wall Street crisis?
Answer: Reaganomics!
September 17th, 2008 at 12:26 pm
Good line. Maybe Obama should use it against McCain-Palin.
Nah, you know it’s sacrilegious to criticize Ronald Reagan in Alabamaland, or in U.S. conservative Medialand.
September 18th, 2008 at 9:33 pm
You know kids, the price of a barrel of crude oil slipped below $100 yesterday. Seems i remember the last time oil was $96 a barrel, gasoline was $2.15 a gallon. The oil guys are now just sticking it up our asses and making us like it. We, as a people have got to be the dumbest population in history.
I have a union co-worker who says he won’t vote for Obama because he is a Muslim??? I can’t convince him otherwise. Is everyone taking crazy pills???
September 19th, 2008 at 12:13 am
Shadows on the wall, man.
Shadows on the cave wall
September 20th, 2008 at 10:52 am
This just in from Tom Ryan, a Huntsville attorney:
Here’s a letter I sent to the Editor of the Huntsville Times. Since it probably won’t be published there, I thought I’d send it on to your readers.
Regarding the current economic crisis, President Bush was quoted as saying:
“We must act now to protect our nation’s economic health from serious risk,” Bush said at a White House press conference. “There will be ample opportunity to discuss the origins of this problems. Now is the time to solve it.”
“This is no time for partisanship,” Bush added. “We need to move urgently needed legislation as quickly as possible without adding controversial provisions that could delay action.”
If you have read Naomi Klein’s recent book, “The Shock Doctrine: The Rise of Disaster Capitalism,” you will recognize a threat here by Bush’s urging of the hasty enactment of new emergency economic legislation, legislation that he hasn’t even described as to its content.
The premise of Ms. Klein’s book is that radical change cannot be enacted in the normal deliberative legislative process, but only at times of great crisis when minimal attention is paid to the details or long-term effects of the proposed legislation. She also argues “that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the
violent culmination of a radical economic project that has been incubating for 50 years.”
Many (non-Republicans) will agree that the current crisis could have been avoided by proper regulation of the financial industry. In 1980, Ronald Reagan sounded a call for massive deregulation of business and industry which came to be held as almost a religious creed by the
conservative movement.
Then, in 1999, Congress passed the Gramm-Leach-Bliley Act which for the first time since the Great Depression allowed commercial and investment banks to consolidate. Among other things, this Act repealed the Glass-Steagall Act passed during the Great Depression which prohibited a bank from offering investment, commercial banking, and insurance services.
Repeal of the Glass-Steagall Act got us into the mess we are in today.
According to Wikipedia, “Economist Robert Kuttner (among others) has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis. Economists Robert Ekelund and Mark Thornton have made similar criticisms, arguing that while “in a world regulated by a gold standard, 100% reserve banking, and no FDIC deposit insurance” the [Gramm-Leach-Bliley] Act would have made “perfect sense” as a legitimate act of deregulation, under the present fiat monetary system it “amounts to corporate welfare for financial institutions and a moral hazard that will make taxpayers pay dearly.”
Gramm-Leach-Bliley_Act
That prediction has now come true.
The architect of the Gramm-Leach-Bliley Act was then Sen. Phil Gramm of Texas. (After leaving the Senate, he joined UBS Warburg, at the time the investment banking arm of the largest Swiss bank.) Phil Gramm was John McCain’s former chief economic adviser until July 2008 when he was forced out of the campaign after stating that the American public was “a nation of whiners” in a “mental recession.”
George Bush and John McCain have long championed massive deregulation of business and industry, policies which have caused the current financial crisis. As to any new proposed legislation proposed by Bush and supported by McCain, both deregulators, we must look very closely and ask ourselves, “Cui Bono,” who benefits? The people or the financial
industry?
Nancy Pelosi succinctly put it just right the other day regarding the recent corporate bailouts by the government: “We’re privatizing profit and nationalizing risk.”
Look with a careful eye at any new legislation about to be rammed through Congress because if it’s passed, it will probably be paid for with your money.
Tom Ryan
Ryan Hicks Cumpton and Cumpton LLP
Huntsville, AL 35801
September 22nd, 2008 at 4:44 pm
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