Showing posts with label tea party. Show all posts
Showing posts with label tea party. Show all posts

Wednesday, January 16, 2013

BEWARE: Liberals' Political Adversary to the Tea Party & the GOP!

Progressive coalition ‘Democracy Initiative’ aims to rebuild liberal politics

Image: US-POLITICS-ECONOMY
(Ben Jealous (C), president of the National Association for the Advancement of Colored People (NAACP), speaks outside the White House on November 16, 2012. (TOBY JORRIN/AFP/Getty Images))
A coalition of the largest labor unions, environmental groups and civil liberties organizations in America are banding together to combat policies they believe threaten all of them. On Wednesday, Mother Jones reported that the group of influential organizations had formed a “Democracy Initiative” with the intention of removing some of the biggest political roadblocks to progressive legislation.
The Democracy Initiative’s platform, writes Mother Jones’Andy Kroll, has three major planks: “getting big money out of politics, expanding the voting rolls while fighting voter ID laws, and rewriting Senate rules to curb the use of the filibuster to block legislation.”
Accomplishing those three goals, the group believes, would remove the biggest threats to American liberalism. Corporate influence over legislators, voter ID laws that target poor and non-white votes, and Senate rules which make it easy to block new legislation, the theory goes, all favor right-wing governance. As a result, groups as diverse as the NAACP, labor unions like the National Education Association, and the Sierra Club all see their interests under risk.
Kroll reports that the group would likely try to oust Senate Majority Leader Mitch McConnell, R-Ky., “Public Enemy No. 1 for campaign finance reform,” when he runs for reelection in 2014. The group may also target major corporate interests—such as Chevron and the members of the American Legislative Exchange Council—directly.
The ultimate shape of the Democracy Initiative’s grand strategy remains to be seen. However, in its nascent form, the coalition invites stylistic comparison to its enemies on the right: the aforementioned ALEC, Americans for Prosperity, and other such groups. Like those organizations, the Democracy Initiative plans to bring together a diverse group with overlapping interests and play the “inside game” in an attempt to dismantle its opponents’ political infrastructure. Conservative interests have had a lot of success in pushing game-changing legislation through state governments, targeting powerful members of Congress, and generally trying to undermine the most powerful left-wing organizations.
There is reason to be skeptical that liberals can win at the same game. Left and right are not symmetrical—political theorists such as Corey Robin argue that conservatism is, at heart, a defense of hierarchy and “the private life of power.” The right excels at the inside game, in part, because they are the movement of the inside. Even if the Democracy Initiative could match its conservative counterparts in funding (an unlikely proposition given the liberal experience with fundraising for Super PACs), America’s political elites will still overwhelmingly be drawn from the same cultural and ideological background as its business elites.
That is not to say there is no value for the left in lobbying legislatures and fighting electoral campaigns on the federal level. However, national progressive organizations often miss the other side of the equation: the left’s biggest successes throughout American history have largely been the product of broad-based social movements. The civil rights movement of the sixties and the labor movement of the thirties certainly fought within the halls of power, but they’re most visible campaigns were fought in those areas of life not usually considered “political”: The workplace, the segregated diner, and so on.
Those fights were only possible because these movements recognized and fostered the link between seemingly abstract political issues and personal experiences of oppression. The whole concept of “social justice” is founded on this link. It remains unclear whether the Democracy Initiative has a clear theory of social justice, or whether it is even interested in social movement politics. If the coalition is interested in social movement politics, then it must be willing to engage with and grow local activism—to not just lead, but allow itself to be led, by local communities.

Monday, September 17, 2012

QE3: The Definition of Insanity Returns - Still No Jobs!

till having problems viewing this message, please click here for additional help.


September 17, 2012
QE3: The definition of insanity returns
By Herman Cain

Einstein may have been a genius, but it doesn’t take a genius to see the wisdom of one of his most famous sayings: Doing the same thing over and over again, and expecting a different result, is the definition of insanity.

That’s how you know that the Obama Administration and the Federal Reserve have lost it. The Fed announced last week that it plans another round of “quantitative easing,” which means keeping interest rates artificially low and printing a lot more money (technically through the buying of mortgage-backed securities - $40 billion a month’s worth).

This is known as QE3, and it follows the highly unsuccessful QE1 and QE2, but it is different in one respect: QE3 is forever. Fed Chairman Ben Bernanke says he will put no sunset date on this plan. The Fed will keep doing it until the economy improves, no matter how long it takes.



Bernanke’s announcement got immediate results, too, although not the type he wanted. The credit rating agency Egan-Jones immediately responded to QE3 by downgrading America’s credit rating from AA to AA-. Explaining their decision, Egan-Jones said what anyone should be able to figure out: All this pump-priming is not going to raise America’s gross domestic product, but what it will do is deplete consumer purchasing power.

Remember last year when Standard & Poors downgraded the United States from AAA to AA+? Democrats and the media insisted that Standard & Poors had taken this action solely because Tea Party Republicans had demanded budget cuts as a condition for raising the debt ceiling, thus introducing a short-term risk of default on the debt.

In fact, Standard & Poors cited the dysfunction of the policymaking process in general, and rightly so. Rating agencies don’t care how you reduce your debt – cut spending, raise taxes – they just want you to do it. What they saw is what anyone with common sense can see. Our fiscal situation is so out of control that we have to borrow money just to pay the interest on the money we’ve already borrowed. When the debt ceiling showdown resulted in no serious action on the deficit, Standard & Poors had seen enough. Even so, Democrats and their media allies did everything they could to blame the Tea Party – as if the people who want put a stop to out-of-control debt are the ones upsetting the credit agencies.

So then, how will they find a way to blame the Tea Party for Egan-Jones’s latest downgrade of the U.S., which is its second this year? The first downgrade resulted from the utter failure of Congress and the White House to deal with the debt. This time, Egan-Jones recognizes that devaluing our currency will do nothing to make the situation better. The only way to do that, after all, is to achieve robust and sustained economic growth.

So why won’t QE3 do that? In buying up all those mortgage-backed securities, they’ll certainly pump a lot of capital into financial institutions. The banks will turn around and lend it, and Main Street will suddenly be cash flush, right?

Wrong. That was the theory behind QE1 and QE2, as well. Why didn’t it work? Because of a little thing called Dodd-Frank, the “reform” through which Democrats presumed to crack down on big banks. Dodd-Frank has introduced so many new regulations and restrictions, big banks are scared to death to make risky loans of any kind. So sure, there’s going to be money, but they’re only going to lend it to the safest loan applicants – people who would almost certainly have gotten loans even without the pump-priming.

So we devalue our currency for nothing, and we’re going to do it endlessly!

I don’t know how we maintain a credit rating as good as AA- when we maintain policies like this. These people have no idea what they’re doing.