Robert Reich: The Truth About the Economy [VIDEO]

Black Male Employment Hits 40-Year Low: What's A Black Man To Do In This Economy?

"Do I gotta sell me a whole lotta crack, for decent shelter, and clothes on my back? Or should I just wait for help from Bush, or Jesse Jackson, and Operation Push." - Ice Cube, "Bird In The Hand"

I read a recent story in the Washington Post featuring a local Memphis kid, Kenneth Roberson, and his struggles to find employment. The dramatic irony or should I say the hard reality of this story, is that the young man featured happened to be a member of the graduating class of Memphis' Booker T. Washington High School, the school who won president Obama's Race To The Top commencement challenge. As the winner of said challenge, president Obama was the key note speaker at their commencement ceremony a few weeks ago. I watched the event myself, and I must say he left a group of kids in one of this cities most impoverished zip codes inspired and full of hope. However, as the saying goes: reality bites; and for ypung Black males like Roberson, that promising future looks rather bleak.

Just in case you haven't been paying attention to this site or any legitimate news source via the media, the economy, though slowly getting better, hasn't and isn't recovering fast enough. Unemployment is still relatively high; but you'd probably not know that considering all the talk of Medicare, Paul Ryan, deficits, and Sarah Palin's American short-bus tour. Yes folks, it's still pretty bad. Want to know how bad? OK, lemme tell you. According to the government reports, Black male employment has hit it's lowest levels in forty years. Did you get that? Black male unemployment has hit a forty year high.

If the election of America's first African-American president was expected to give blacks an economic boost, it hasn't emerged yet. Indeed, the percentage of African-American men with a job has dropped to its lowest level since records began in 1972, according to the government's monthly jobs report released last week.

Even as the economy added a better-than-expected 244,000 jobs, the percentage of black males over 20 who are currently employed dropped slightly to 56.9, the Labor Department's April report shows. For whites, the equivalent figure is 68.1 percent.

Before this recession, the percentage of black adult men with a job had never dropped below 60 percent, according to Labor Department statistics.

And among blacks, it's not just men who are suffering. Just 51.5 percent of African-Americans across the board--compared to 59.5 percent of whites--have a job, the numbers show. That's the lowest level for blacks since 1984. (That group includes 16- to 19-year-olds, who are employed at a far lower rate than their elders.)

These employment rates are calculated differently from the top-line unemployment rate, which includes only those actively looking for work, and inched back up last month to 9 percent.

[...] And employers' hiring practices may be making the problem worse. As we've reported, online job listings telling the unemployed not to apply have proliferated in recent years. The federal government is currently probing whether such listings illegally discriminate against African Americans, who are disproportionately likely to be among the jobless.

Nonetheless, much of the media has focused on the travails of educated white men--still a comparatively flourishing group--during the downturn. (source)

Look, the way I see it, there's nothing wrong with being hopeful as the young man featured in the Washington Post piece who even graduated in the top five of his class. Sure, he has a parial scholarship to attend college, and yes, his future may look brighter than others in his graduating class. But the truth is, hope doesn't pay the bills. And especially if you're a Black man with a family, or the responsibility of financially supporting and providing for your kids? Hope won't feed them, nor is hope acceptable by the child support court.

Yep, the child support man ain't tynna hear about how tough it is for brothas.

Breaking: AP calls NY's 26th District for Hochul... the DEM

You know you're in trouble when upstate New York voters (some who make the hillbilly characters from the film Deliverance seem sophisticated by comparison) join in kicking a conservative politician to the curb -- in one of the most conservative districts in the state (and possibly the nation). This is a district that voted against Obama in a state he took by a landslide. This is the district who voted overwhelmingly for a racist for governor. This is the same district that hasn't voted in a democrat in, like 100 fuckin' years...

And they voted in a Democrat...

Paul Ryan by DonkeyHotey

Sure, you say that it's just one measly district, but I believe this is a bad omen for the knuckle-dragging twats on the right. For one, they poured enormous amounts of money and resources into this election -- in what should've been a cakewalk. The right wing parade of national batshittery passed by the district to lend their name recognition and support. They poured millions and made what should've been an inconsequential election in Armpit, USA into a do-or-die for the Ryan plan...

And they lost.

They lost because this was a referendum on right wing fiscal policies -- mostly rehashed dismal failures of past decades: rob from the poor to give to the rich. Otherwise known as Reaganomics, supply-side, trickle down bullshit. Bush I had it right: it's magical thinking dressed as economic policy, or better put: Voodoo Economics.

Public Policy Polling shows why this election is very important moving on:

Congressional Republicans are extremely unpopular and voters think they're doing an even worse job than the Democrats they put out of office six months ago. That was true in NY-26 and that's true nationally. Last month we found nationally that 43% of voters thought House Republicans were doing a worse job than the Democrats did while in the majority to only 36% who felt they were an improvement. Even in NY-26, which voted 13 points more Republican than the country as a whole in 2008, 38% of voters think the Republicans are doing a worse job than the Democrats to only 34% who think they're an improvement. You can talk about Jack Davis all you want but the reality is that if voters thought House Republicans were bringing the improvement they hoped for when they went to vote last November Jane Corwin would have won tonight...

And believe me, the take-away here -- the chum in the water -- is that House Democratic candidates will run against John Boehner and the Ryan plan next year. Again, Public Policy Polling lays out the cruel numbers:

Boehner's approval rating nationally is a 25/42 spread and even in this traditionally Republican district it's a 28/45 spread. Barack Obama's not popular in this district either, don't get me wrong- his approval is a 42/51 breakdown. But it's remarkable that his net approval is 8 points better than Boehner's in a district that John McCain won by 6 points in 2008. Again you can talk about Jack Davis all day but if John Boehner was more popular than Barack Obama in this district, as you would certainly have expected the case to be, then Jane Corwin would have won tonight.

Interesting times indeed...

My name is Eddie and I'm in recovery from civilization...

Update #1 (h/t Steve Benen)

Last night's was a huge upset -- a body blow against the conservative agenda, but it’s also the latest in a spate of recent victories for democrats...

• New Hampshire: Last week, there was a special election in a state House district where Republicans have dominated for years. The Democratic candidate won in a landslide, even after a local town clerk illegally required photo IDs to vote.
• Florida: Also last week, Jacksonville was home to a high-profile mayoral race, and the state GOP touted the election as the first warning shot of the 2012 cycle. Instead, voters elected Democrat Alvin Brown — Jacksonville’s first African-American mayor — stunning the Republican establishment statewide.
• Wisconsin: Three weeks ago, there was a special election in a Wisconsin state Assembly district that has been represented by a Republican for 16 years. In this case, the Democrat won by eight points.
• Maine: Two weeks ago, there was a special election to fill a vacancy in the state Senate, in a district that has been very competitive in the recent past. In this case, the Democrat won by a crushing 2-to-1 margin.

This is not to say that Dems have recovered from a brutal 2010. Dems withstood a smackdown after doing well in 2009 special elections, for example. In addition, Let me be clear: last night's winner is at best a Blue Dog democrat, hardly something progressives should celebrate. Still...

Conservatives began the year with the help of a passive corporate-run media with all the national momentum going for them. However, after a series of losses in races Republicans should have won easily, it is clear (except to conservatives, apparently) that the American public isn’t buying what the GOP is selling.

Obama Accepts U.S. Debt as a Bigger Threat than the Recession (That's Not Good)

Last week I got involved in a nice discussion with my brothers over at The Urban Politico. Central to the discussion was the question: What exactly can president Obama do about the job crisis faced by Black people? It was a nice exchange, one where I learned a thing or two. However, I was left with the impression that, well, there is absolutely nothing the president can do beyond passage of the American Recovery & Reinvestment Act.

Yeah RiPPa, the prez can't make them folks hire people, nor can the gov't create jobs; that's up to Wall Street! Besides, Negroes are lazy and they ain't trynna find work; yep, they love Welfare and that ain't finna change!

Now of course you know I'm not of that belief or opinion; and yes, there is something the president and by extension the gov't can do; yeah, how's that $26 billion in tax cuts for small businesses of a jobs bill working out while Wall Street sits on $1 trillion in cash? But at any rate, I think it's pretty sad that while we're in the midst of economic recovery, that we're talking about deficits and not job creation, which is needed to boost the economy. As opposed to a discussion of necessary but painful budget cuts to help in deficit reduction.

Folks, that's ass-backwards and here's why:


BIO: Robert Pollin is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. His research centers on macroeconomics, conditions for low-wage workers in the U.S. and globally, the analysis of financial markets, and the economics of building a clean-energy economy in the U.S. Most recently, he co-authored the reports Job Opportunities for the Green Economy (June 2008) and Green Recovery(September 2008), exploring the broader economic benefits of large-scale investments in a clean-energy economy in the U.S. He has worked with the United Nations Development Programme and the United Nations Economic Commission on Africa on policies to promote to promote decent employment expansion and poverty reduction in Latin America and sub-Saharan Africa. He has also worked with the Joint Economic Committee of the U.S. Congress and as a member of the Capital Formation Subcouncil of the U.S. Competiveness Policy Council.

Ball of Confusion (Madness)

¡Hola! Everybody...
What can I say? There’s sooooo much going on in the world today it’s hard to figure out where to start... (lots of links!)

* * *

It is bad enough that people are dying of AIDS, but no one should die of ignorance.

-- Elizabeth Taylor

First, while the mostly conservative US media and political class assure us that toxic sludge (or at least “safe nuclear reactors”) are good for us, you’d better not drink the water (or milk) in Japan, cuz, you know, the radiation levels are kinda/ sorta above levels. Shit, I live about 25 miles from a steaming mess of nuke that’s more dangerous than the Japanese glow-in-the-dark one. Imagine trying to evacuate about 22,232,494 (more or less) people from the NY Metro area? We’re not very polite... LOL

I find it ironic that the same people who were after the Village Idiot’s head (on a platter) for waging war under false pretexts and redistributing wealth (upwards), now applaud Obama as he does the same. In fact, we’re fighting three wars right now. Teachers are being fired, jobs (and record profits) continue to be outsourced, republican state governors are trying to bring us back to the days of the Triangle Shirtwaist Factory Fire tragedy, and we just ejaculated 131 Tomahawk missiles at $1 million a pop.

Hold on while I sneeze:

::ACHOOO-HYPOCRITES::

Sorry, but I’m allergic to moral cowardice.

On the entertainment front, raging beauty, talented actor, compassionate activist, Elizabeth Taylor passed away. The first time I saw The Last time I saw Paris, I was so struck by her beauty, it felt as if her image was burned into my brain synapses. What a gorgeous freak of nature! IMNSO, Taylor was matched in beauty and talent only by the as sublime Dorothy Dandridge (who, unfortunately, wasn’t allowed to shine). Taylor also cared, she left the world a little better than she found it, AFAIC.

I spent all day yesterday meeting with lawmakers and attempting to sway their positions regarding criminal justice policy. The event was part of a coalition of organizations that included a group from the Juvenile Justice movement. Right now NY State, which is facing a so-called budget deficit, is maintaining several empty prisons at the cost of more than $200 million per year. In addition, we’re closing schools at a time when we’re sending juveniles to prisons deemed inhumane by federal investigators. The cost of keeping one child in prison per year in New York state? Over $100,000. Some researchers put the actual cost at over $200,000 per bed, per year!

The good news? For me it was hanging out with a great bunch of very young activists, who were well-versed on the issues and who, in passionate terms and an informed manner, schooled members of our state legislature on the foolishness of incarceration as a panacea for all social ills. Even legislators hostile to our agenda seemed genuinely impressed by the young people in my group. I’ll be writing little bit more about this process later on this week. For those of you who like to beat up on our youth, I am compelled to ask: what the fuck are you doing to make this world a better place?

So, there you have it: there’s the mess, the message, and there’s also solutions to the mess. Which part did you play today? Are you making this a better world?

Just sayin...

My name is Eddie and I’m in recovery form civilization...

Excavating the Future: Pitting Private & Public Sector Workers Against Each Other

[Editor's Note: This is a follow-up to my article on Wisconsin published by Subversify (click here).]

A public union employee, a tea party activist, and a CEO are sitting at a table with a plate of a dozen cookies in the middle of it. The CEO takes 11 cookies, turns to the tea partier and says, 'Watch out for that union guy. He wants a piece of your cookie.'

I was raised to believe in the American Dream. I believed that if I worked hard enough, if I was smart enough, if I got good grades in school, went to a decent college, played by the rules, and worked really really hard, that I could grab at least a measure of that American dream. When I was a child, I was assured that the depth of American ingenuity and expertise would save us all and that we would become an enlightened society pursuing the further reaches of human nature with the increase of leisure time, as technology and human evolution converged to create a more noble model of society. A great society preoccupied with eradicating poverty, hunger, and disease.

I believed in an American future in which we would conquer space, where solutions for previously untreatable diseases were right around the corner. I was assured that the tension between technological innovation and the environmental havoc it sometimes caused would be resolved.

I believed in this dream because so many people were actually out there on the frontlines fighting to ensure such a society. Everywhere people were engaged in critically questioning the status quo. People of color, women, and people of different sexual orientation were fighting and challenging the oppressive institutionalized systems that kept us from becoming a greater whole. And in spite of all the conflict, there was the real sense of hope in that people were doing more than talking about it -- we were all somehow engaged in ensuring the American Dream for all people.

When I was a child, I was assured that we would develop viable alternative energy sources. Lies. A cure for cancer. Lies. I was told of a future wherein people -- for the first time in human history -- could commit the bulk of their lives for their intellectual, spiritual, and material benefit. Lies.

Welcome to the future, my friends. I live in a city where it is illegal to be black or brown. Here the color of your skin, not your grades, determination, or educational attainment, matters most. Today, being smart is considered elitist. Worst of all, today you work longer hours for less money -- if you’re fortunate enough to be working at all. You’re less likely to be able to have access to decent health care, if you have any health care options.

Welcome to the future, it is now -- a future of disappointment. And the only reason you haven’t noticed is because you’re too busy jerking off to the latest online celebrity sex tape or watching “reality” shows of “celebrities” whose talents apparently have more to do with sucking NBA cock than being able to actually sing or dance. Or perhaps you’re too busy watching American Idol or Snowdrift Snookie’s latest idiotic political pronouncements. Either way, we’re amusing ourselves to death.

Obama's Austerity Budget Means More Unemployment [VIDEO]

Insightful and informative as usual, from The Real News Network:


BIO: Dean Baker is co-director of The Center for Economic and Policy Research (CEPR). He is the author of several books including, The United States Since 1980; Social Security: The Phony Crisis (with Mark Weisbrot); and The Benefits of Full Employment (with Jared Bernstein). He appears frequently on TV and radio programs, including CNN, CBS News, PBS NewsHour, and National Public Radio.

Conning Kansas: How America Has Grown Less Conservative

As I survey the current financial mess, I wonder how we have allowed a small group of ideological right-wing extremists hijack the economy. For over thirty years, a radical faction of discredited economic players have tricked the masses – that’s you and I – into voting on the basis of social issues, and in that way ignoring our economic self interest. Of course, Obama has ceded the Holy Grail of neocon extravagance: he’s given more than Bush ever dreamed and we’ll have hell to pay later on (stay tuned for more "hostages" in the near future)…

Barack Obama's "Compromise" on Extending Bush Tax Cuts is Morally Reprehensible

Have you noticed just how quickly it's gotten cold all across the country. You may think it's just the natural progression of the weather. But I say it's the Obama effect which is the result of making a "deal" with the devil by extending those awesomely groovy Bush Tax Cuts. Yeah, that was fucked up, Barack; and now that hell has frozen over, because of your compromise there are icicles on my balls. Sure you might say it's winter and that's what's supposed to happen; but, I'm not buying it. The president has capitulated and hell hath frozen over.

Speaking of "buying it," lemme hit you in the head on how I feel about my president's decision to cut a deal with Republicans on our tax dollars without any of us in the room. Yeah I know I've already mentioned that this move was "fucked up." However, allow me to approach this in less simple terms and use a philosophy that I've employed as a tool professionally for the last 19yrs of my career in Sales & Marketing. Yes, I've profited from this philosophy, and I even apply it to my everyday life. What can I say? Life is one big sale; somebody is always selling, and somebody's always buying; and this is why there are Lemon Laws. But hey, a bargain is what is perceived, and Barack Obama knows this.

The minute I heard that the president literally struck a "deal" with republicans I was concerned. Automatically I knew the American people (and more specifically his democratic base) would be subjected to yet another "sales job" much like the impromptu press conference yesterday. Sure the target audience was actually the pissed off House democrats, but hey, given that "we the people" are in love with John Wayne diplomacy, I knew we were in for a show, in a "wag the dog" fashion.

As a salesman, one of the first things you learn is that a bargain is what is perceived. In other words, if I as a salesman were to sell you a shit sandwich (much like Obama did yesterday), it is up to me to convince you that not only is it the best shit sandwich unlike any other shit sandwich, but that it is actually good for you - I mean, who really wants to eat shit, right?


And Obama said he has to take John Boehner at his word...

But see, another thing you learn as a salesman when it comes to making deals, or closing the sale, is a simple line or tool used to convince the customer that making the purchase is the right thing to do. Like I said, it's a simple (but effective) line that goes something like this:

There are two times in life when you absolutely buy something: 1) when you have no other choice and you have to, and 2) when an opportunity presents itself (Translation: when a bargain is too good to pass up).

Listening to Obama's press conference yesterday, I laughed. No seriously, I laughed my ass off as images of the cheesy car salesman smacking gum wearing a plaid suit filled my mind with the bullshit I was hearing. Yeah the whole "I had to do this for the American people... I had no other choice," and "This is gonna stimulate the economy and create jobs... blah, blah, blah" bit was laughable. Yeah Barack... Heard it all before isn't just a long forgotten R&B song by Sunshine Anderson, my man.

But as to be expected, some of you idiots bought it hook line and sinker. Hell, if he mentioned weapons of mass destruction twice as much as he mentioned "hostage," with your blessings we'd be invading Canada looking for the 7ft tall man of middle-eastern descent who started this financial crisis. But hey, I suppose this is yet another reason "master salesmen" are encouraged to not ever speak financial details in the close of the sale. Yep, noticeable absent from Obama's sales pitch (or close) were actual figures and cost. I mean why mention to the customer that this deal isn't really a win-win when you can tell them that it is and they believe you just because you the expert were the one who said it? But hey, the basis for deal making is that you get what you want when they get what they want, right? Right? Riiiiiight!


Sorry Barack, you call this a good thing for the American people, and I call bullshit. If you're gonna have to borrow $900 billion dollars (from who knows which Chinese restaurant) to help the economy and create jobs. Don't you think it would serve the interest of "we the people" to spend it directly impacting lives rather than its current form of a Christmas present to the wealthiest 2% in the nation who are rolling in the dough?

Yep, and they sure do need that new Estate Tax concession, right?

I don't know about you, but this isn't a bargain. I could be wrong, but it sounds like the beginning of the end. The end of something that was special once upon a time. That would be, the idea of instilling hope, and the ushering in of change. But sadly, what we are seeing is more of the same old politics as usual. Where the wealthy plutocratic elites continue to eat extravagantly while wiping their asses with $100 bills, and us the poor, will continue to starve - Lord forbid if there's a double dip recession, but we'll see in 13mths when unemployment extensions have expired once again. Waterloo my ass, sounds more like Doomsday! Maybe you dumbasses who support the "compromise" should watch this and learn a thing or two:

NPR Fellates the Power Elite (Again)

Well... it seems the Randroids, the Milton Friedman groupies, those fabulous Chicago Boys, and the rest of goobers are back again with failed neocon ideas. I guess they feel emboldened by an election that saw a marked decrease in votership result in the election of some of the dumbest, most regressive muthafuckas the nation has ever seen (click here or here for examples)... Of course, that sinister "libruhl" media is at it again.
::sarcasm off::

Economist, Dean Baker, sets the record straight...

NPR Thinks Cutting YOUR Social security and Medicare is Courageous

Dean Baker/ Beat the Press:

NPR again abandoned journalistic standards in pushing deficit reduction by insisting that doing so is courageous. Given the wealth of the people pushing for cuts to Social Security and Medicare, and the fawning attention that these people get from media outlets like NPR and the Washington Post, it is difficult to see what it is courageous about trying to take away benefits for middle class retirees.

Motor Trend Bitch-Slaps Lush Rimbaugh

-=[ Rush Breathes Fumes ]=-

It is clearly apparent with anyone with a relatively functioning pre-frontal cortex that Rush Limbaugh is so dedicated to destroying Obama at any cost that he is doing everything he can to undermine the prospects for GM’s rebirth from the ashes of bankruptcy. The reality is that General Motors is gaining business and reducing the government ownership share. Nevertheless, that hasn’t deterred the Lush from beating the war drums against “Obama motors.” Politico reports:

Limbaugh told listeners that his radio program last year canceled an advertising campaign with General Motors because he “knew this was coming.”

Wow, Rush! Why not just actively discourage companies from hiring people, since that would help destroy what’s left of the middle class.

The fact is that GM’s plug-in hybrid electric car, the Chevy Volt, has been rolled out to rave reviews by car magazines across the board and was named 2011 Motor Trend Car of the Year. Motor Trend raved:

This is a fully developed vehicle with seamlessly integrated systems and software, a real car that provides a unique driving experience. And commuters may never need to buy gas!

… This automobile is a game-changer.

Now, you know this shit got the prissy-assed conservatives’ panties in a collective wad. In fact they went into their patented, feces-flinging act. This also forced Limbaugh to expand his attack to include the respected car enthusiast magazine. ThinkProgress has the story (and Motor Trend’s too-pretty counterpunch):

... Motor Trend announced that it had named the breakthrough plug-in hybrid Chevrolet Volt as its 2011 car of the year. Conservatives immediately picked up on the story and attacked Motor Trend. The magazine “awarded the Obama-approved, government-subsidized Chevrolet Volt its annual ‘Car of the Year’ appellation,” the Weekly Whore Standard whined. Referring the federal government’s auto bailout -- which turned out to be hugely beneficial for GM and the ailing industry -- conservative Washington Post columnist George Will complained about the government “spending some of your money” to produce the Volt. But right-wing radio blow-hard Rush Limbaugh was perhaps the most vocal critic. The Volt has been in Limbaugh’s sights for quite some time. His campaign against the innovative car was launched last August (!!). Staying completely in form, Limbaugh said of the Motor Trend award this week, “[O]f all the cars in the world, the Chevrolet Volt is the Car of the Year? Motor Trend magazine, that’s the end of them. How in the world do they have any credibility? Not one has been sold [and] the Volt is the Car of the Year.” Last week, one of the magazine’s editors, Todd Lassa, shot back at Limbaugh, noting that GM hasn’t sold any Volts “because it’s not on sale yet”:

So, Mr. Limbaugh; you didn’t enjoy your drive of our 2011 Car of the Year, the Chevrolet Volt? Assuming you’ve been anywhere near the biggest automotive technological breakthrough since… I don’t know, maybe the self-starter, could you even find your way to the front seat? Or are you happy attacking a car that you’ve never even seen in person? [...]

Top Social Security Myths: Don't Drink the Kool Aid!

¡Hola! Everybody…

Dang! The Neocon Zombies are back again. I swear! You can’t kill this plague of failed ideas no matter how many time they fail. Who's next? Milton Friedman?!!

Today, perhaps emboldened by the recent elections, the goobers, with the help of some very powerful people, are spreading misinformation about one of the most successful government programs ever (and not just in the US, but globally) in order to scare people into passively accepting benefit cuts. Even so-called “liberals” such as Lawrence O'Donnell (who calls himself a socialist ::cough::) and Dylan Ratigan, are framing the social security debate in a way that makes it a foregone conclusion that cuts must be sustained.

Truth be told, O'Donnell is a dyed-in-the-wool corporate democrat cut from the same Rahm Emmanuel (and now Obama) cloth. The assumption that SS must be cut/ taken apart/ given as a gift to Wall St. to mangle is pure, unadulterated bullshit. Don't be a sheeple (<-- same as teabagger). Check out this list of Social Security myths and share it with your friends, family and coworkers.

Stop. Look. Listen...

Myth: Social Security is going broke.

Reality: There is no Social Security crisis. By 2023, Social Security will have a $4.3 trillion surplus (yes, trillion with a 'T'). It can pay out all scheduled benefits for the next quarter-century with no changes whatsoever. After 2037, it’ll still be able to pay out 75% of scheduled benefits--and again, that's without any changes. The program started preparing for the Baby Boomers retirement decades ago. Anyone who insists Social Security is broke probably wants to break it themselves.

Myth: We have to raise the retirement age because people are living longer.

Reality: This is a red-herring to trick you into agreeing to benefit cuts. Retirees are living about the same amount of time as they were in the 1930s. The reason average life expectancy is higher is mostly because many fewer people die as children than did 70 years ago. What's more, what gains there have been are distributed very unevenly -- since 1972, life expectancy increased by 6.5 years for workers in the top half of the income brackets, but by less than 2 years for those in the bottom half. But those intent on cutting Social Security love this argument because raising the retirement age is the same as an across-the-board benefit cut.

New Financial Reform Bill Will Not Prevent Another Crisis As Being Sold By White House

Maybe it was a good thing Shirley Sherrod's ordeal dominated the news on the very week that the government passed its landmark financial reform bill. I don't know how much you may have been paying attention to the debate surrounding this bill. Given the fact that there were no angry mobs screaming on television about it in defiance as they did another landmark piece of legislation, I'd have to say you probably paid very little attention - yeah, thank the media for that one.

Yeah, I'm thinking that it was a good thing that we were all caught up with the issue of race and the necessity for a conversation on the subject in the face of yet another teachable moment. Yeah, and I'm thinking the president has to love the fact that the news cycle was more interested in the firing of a black woman than this much watered down version of proposed (and necessary) reform of the financial industry. The bill is being touted as a legislative victory for the administration. But the question remains: will it prevent another crisis?

This bill has some good provisions, but much like the Health Care Reform bill, it is yet another one of those, "we'll take what we can get for right now," pieces of legislation, that I'm tired of being forced to accept. What can I say? I'm just a "get it right the first time," type of person who rails against the status quo. Checkout Bill Black* in an interview via The Real News Network on the strength and where this bill falls short:

Voodoo Economics

“What we might call, by way of eminence, the Dismal Science.”

-- Thomas Carlyle (1795–1881) Scottish philosopher on economics

One day, spurred by a comment left on my blog, I called my friend who works on Wall St. My friend is a staunch conservative who majored in economics. His wife, bless her soul, doesn’t like me too much and thinks I should be excommunicated for my sexual views. LOL!

Anyway, I’m not very bright when it comes to economics and finances, I believe my ex-wife is correct in her observation that I should never be allowed to handle my own finances, let alone talk about them. Whenever I have a question on economics, I always call my Wall St. friend. Lately he hasn’t been returning my calls, but I was able to reach him yesterday and he agreed to talk to me on condition that I would never tell his wife we met and if I didn’t interrupt him with my “radical” views. I agreed and even offered to buy him lunch considering the market is right now more radical (anarchy!) than I could ever dream of being. LOL

We met at a popular eatery near Wall St and when we sat down, I immediately blurted out, “Laffer Curve! Tell me about it!” That prompted a hush over the mid afternoon crowd -- nervous glances from others in the restaurant. My friend begged me to lower my voice, “Eddie, things are pretty much volatile around here these days, please don’t start a stampede.”

I promised to be quiet and he began to tell me about this mysterious, all-knowing talisman -- the Laffer Curve.

Now, keep in kind my friend, though a conservative, believes supply-side economics to be the biggest con ever perpetrated on the American people. He’s an “old school” republican: republicans that concerned themselves mostly about such things as deficits, inflation, and excessive spending; republicans who didn’t care much about cutting taxes and were quite willing (like Eisenhower and Ford) to raise taxes in order to balance the budget.

Fox & Friends' Brian Kilmeade: "Sober Up and Take a Job."

If I am to believe the latest running conservative meme that the unemployed are all lazy drug-addicted alcoholics. In the interest of job creation in this economic shit-storm, it seems it would behoove our government to invest in individual drug dealers, corner store bodegas, and the 'round the way bootleg-liquor-man. Yep, be sure to hurry up and make that unemployment extension thing happen an shortly thereafter follow through on my suggestion; how's that for free market economics.

I mean after all, according to them, there's no stimulative effect to the economy when people spend their unemployment checks. Not only that, the safety net that is unemployment insurance - ironically, like weed - happens to be a de-motivator. Think about it, why would anyone wanna work when they are able to sit on their asses and get paid for doing anything productive. Why should they be forced to worry about anything but the possibility of maybe a drug overdose, right?

But just in case nobody takes me and my idea seriously, here are some thoughts from a pretty smart white guy who in his infinite Nobel Prize for economics wisdom, takes a moment to speak on the subject of unemployment benefits and just how at this time are beneficial to the economy. Paul Krugman is my dude and all, and he makes a compelling case; but I'm sorry, I'm sticking with the "lazy drug addict" meme in an effort to make a come-up off of those loser unemployed people. I mean since they're all drug-addicted drunks, I think I'll open up a bar and name it, "The Senate":

Do unemployment benefits reduce the incentive to seek work? Yes: workers receiving unemployment benefits aren’t quite as desperate as workers without benefits, and are likely to be slightly more choosy about accepting new jobs. The operative word here is “slightly”: recent economic research suggests that the effect of unemployment benefits on worker behavior is much weaker than was previously believed. Still, it’s a real effect when the economy is doing well.

But it’s an effect that is completely irrelevant to our current situation. When the economy is booming, and lack of sufficient willing workers is limiting growth, generous unemployment benefits may keep employment lower than it would have been otherwise. But as you may have noticed, right now the economy isn’t booming — again, there are five unemployed workers for every job opening. Cutting off benefits to the unemployed will make them even more desperate for work — but they can’t take jobs that aren’t there.

Wait: there’s more. One main reason there aren’t enough jobs right now is weak consumer demand. Helping the unemployed, by putting money in the pockets of people who badly need it, helps support consumer spending. That’s why the Congressional Budget Office rates aid to the unemployed as a highly cost-effective form of economic stimulus. And unlike, say, large infrastructure projects, aid to the unemployed creates jobs quickly — while allowing that aid to lapse, which is what is happening right now, is a recipe for even weaker job growth, not in the distant future but over the next few months.

Economic Enslavement

By Eddie Blue-Eyes

[Editor's Note: recently our conservatively inclined congress critters refused to extend unemployment insurance (UI), many expressing the view that those receiving were looking for handouts. Immediately after, funding for war was approved almost unanimously.]

There are currently at least 30 wars and armed conflicts raging in the world… over 80% of the casualties of war are civilians… disproportionately women and children.

... And whoever controls the debt, controls everything. This is the essence of the banking industry to make us all slaves to the debt. -- The International

As we lurch toward the end of the first decade of the new millennium, I can’t help but reflect in amazement how we’ve been at it for all these thousands of years and we’re still here in spite of ourselves. Through the cruel elements, the countless plagues and wars, the madmen, and perhaps human nature itself, we are still here, defiant, striving, still trying to make sense of it all.

We’re still alive...

But we’re still suffering and killing and hating each other. Diplomacy has risen to an art form because we have become masters of the art of war. I wake up today with the realization that we have defeated the democratic process and in its place we have put an economic system that depraves our efforts in order to create riches based on a subculture of poverty and crime, a system any other creature would rightfully see as barbaric.

We believe ourselves to be the most advanced species but we demonstrate very little understanding or respect for our bodies or the world we inhabit.

For over a hundred years, the practice of slavery has been outlawed here in the Land of the Snow, but people still slave. Technology has taken us to outer space, but not before we managed to eradicate millions in search of genetic purity; not before one of our greatest technological projects, harnessing the power of the atom, incinerated tens of thousands of innocent men, women, and children to shadows.

We wear the restraints of capitalism, the corruption of ideals, and our hatred, prejudice, and ignorance like shackles.

Our capacity for moral reasoning hasn’t caught up with our technological advances. On the richest nation on the planet, we have the power to end starvation, but children still go hungry. We celebrate our medical advances, but the medicines that slow the progress of AIDS are nowhere to e found as that very plague decimates the entire African continent. Our thinking gets the better of our actions. But before you begin to lay blame, please know that our actions are not truly ours to command. At least not any longer...

Today decisions are made by governments and the corporations that own them and are designed to increase profit, not to advance humanitarian ends. Children are starving because it has nothing to do with the bottom line. People are dying everywhere, but how can you try an international cartel for murder?

Lil Wayne's yuckmouth could be the future currency of South Carolina

So obviously recently I thought it was ridiculous that Lil Wayne's jail sentence was delayed because he had to get his teeth fixed. Yeah, I couldn't believe a judge took that into consideration and gave this fool an extension so he can run around and impregnate an entire state as he is known to do to go to the dentist before serving a 1yr prison sentence. But then I read the following story and figured it made sense since obviously "Them boys from the south got them golds in they mouth," as notable poet and thespian Master P once eloquently stated:

After the earthquake, Haiti needs more than your latte money

 

Media images appear to be prime motivation this week in a collective, mobilized response underscored by Western guilt. Bombarded with dust-covered corpses, blood and broken bones, and bodies rotting in the hot sun, millions around the world have donated their money to various relief organizations in support of Haiti. The United States has even organized a text message campaign which allows cell phone users to donate as little as ten dollars by texting the word “Haiti” to a central national phone line. However, this feel-good effort fails to address the circumstances which created this catastrophe. Haiti cannot afford to the typical, Western, Bono-style activism: here today and gone tomorrow, even as its citizens continue to endure the effects of enormous national debt and unfair trading practices which have historically impoverished the nation.

France considered Haiti to be the pearl of the Caribbean and set about stealing both its natural and human resources at will. The average lifespan of a slave in Haiti was a scant twenty-one years, due to harsh living conditions and limited supplies of food. Instead of recognizing the Haitian struggle as akin to that engaged in by Americans against British tyranny, George Washington and Thomas Jefferson gave foreign aid to the supposedly beleaguered French slave owners. Haitians won their freedom from France through armed conflict, defeating Napoleon Bonaparte and the most powerful army in Europe — this is the history that most outside students are familiar with. But what most miss was a move that cannot be considered anything but extortion.

Too Big to Fail: Welfare by Another Name

Yep, what's the deal with this "Too Big to Fail" doctrine? Yeah, why is the Obama administration intent on feeding these bankers more pizza? Uh-huh, if you haven't figured it out, and just in case you thought the pic above to be sexist as it takes shots at "big girls" (a term embraced by overweight women I might add), you're dead ass wrong. Instead the picture metaphorically represents our banking industry. And when you think about Obama's retention of Timothy Geitner, one has to wonder if the game is rigged considering just who his old boss was. Here's a hint: his last name rhymes with "Push". But don't get it confused, even so, there are Republicans against this legislation.

Yes indeed, when you look at what's happened in our financial industry over the last year one can only conclude that the pen is indeed mightier than the sword. But hey, when you're that powerful who needs transparency, right? Yeah, just keep on shoving our hard earned money by way of tax dollars well baked pizza down their throats as they continue to get fat from the fruits of our labor. The man on the street may be disgusted by this as he sees it, but even so, he doesn't realize that this has been the design from day one.

[READ: Usury: A Short History of Banking]

Yeah, pretty soon "Too Big to Fail" is gonna transform into "Too Legit to Quit" and I'm sure somewhere a washed up "I used to have money" rapper will be happy like a Nigerian scam artists who just cashed a check. The sad thing about that is the fact that it is us the American tax payers who were, and are being scammed. Only difference is that we have not fallen victim to some dude in Africa with an internet access. So yeah, I'm down with proposed legislation giving the government the power to dismantle mammoth financial firms preventing future bailouts of these presumed "Too Big to Fail" financial institutions.

As usual, Republicans are against this proposed legislation. Yep, they scream all day long about runaway spending and denigrate the names and lives of poor people and reference the lady in the pic above as a "Welfare Queen", all the while in full support of "Corporate Welfare"  as they continue screw us with no Vaseline.

I'll stop for now, and maybe pick this up at a later date.

In the mean time, check me out in a recent interview....

In the interview I disclose some intimate and personal info about myself.

[Click here for interview]

Since nobody wants to listen to the smart negroes, lets spend some time with some smart white dudes, shall we?

A few discussions in a couple recent posts has motivated my "know it all ass" to quickly touch on this issue. That issue would be language or more appropriately how certain words are used in our political lexicon as ideological selling points. Now before I do this, I must tell you that as a gentleman who has spent the last 19yrs working in sales and marketing after leaving college I consider myself to be a master salesman. That said, I tend to listen a lot.

Listening is a tool which is essential for one to effectively communicate thoughts and ideas. Which brings me to the point of this blog. With all the malapropisms within our current political discourse, I feel the need to weigh in on the word "SOCIALISM". For this, I shall employ the words of one of my favorite political scholars, and most quoted political commentator of all time, Noam Chomsky.

Tell 'em about Socialism Noam:

Dang, did you notice where he said true socialism is akin to conservatism as we know it? No seriously, did you catch the breakdown on what socialism really is? I don't know about you, but I get the feeling that "certain people" don't know what the hell they're talking about as they carry around these signs likening Obama's policies to socialism. Or the stupid idea that we're slowly becoming like Russia. No stupid, there is no way we're becoming like Russia.

The problem - aside from people just being downright ignorant - is that people are confusing socialism for a political movement when it's not. It is an economic model and nothing more. That said, what socialist economy gives billions of dollars to failing companies (banks) who eventually turn around and make a profit? Correct me if I'm wrong, but wasn't it Bush and company who came out and scared everyone into thinking that was what had to be done?

But lets talk about Industrial Democracy as brought up by Chomsky:

My bad, I didn't mean to allow my inner Economics geek out the bag. Yeah, you can thank the good folks at Indiana University for all they taught me. But that's neither here nor there. But hey, lets talk about socialism and income equality shall we? Or, lets talk about what Paul Krugman spoke on in the video above. More importantly, lets talk about why republicans are being paid to vote against the Employee Free Choice Act, can we? Or maybe we can talk about why Oil Companies are funding organizations who work against clean energy legislation?

Take your pick...

lets talk.