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Post by waltc on Aug 1, 2010 10:23:06 GMT -6
Stockman rips the GOP a new asshole on their destruction of the U.S. economy. And don't expect him to be invited to the Glenn Beck or O'rielly show either. www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1&pagewanted=allHere's a excerpt: IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon reach $18 trillion. That’s a Greece-scale 120 percent of gross domestic product, and fairly screams out for austerity and sacrifice. It is therefore unseemly for the Senate minority leader, Mitch McConnell, to insist that the nation’s wealthiest taxpayers be spared even a three-percentage-point rate increase.
More fundamentally, Mr. McConnell’s stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.
This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.
The first of these started when the Nixon administration defaulted on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world. Now, since we have lived beyond our means as a nation for nearly 40 years, our cumulative current-account deficit — the combined shortfall on our trade in goods, services and income — has reached nearly $8 trillion. That’s borrowed prosperity on an epic scale.
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Post by jeffolie on Aug 1, 2010 15:11:06 GMT -6
I continue to think the TeaBaggers are insignificant. Yes, a small number of politicians who declare themselves to be members of 'the tea party' will be elected just because of their declared membership. Yes, in close races the TeaBaggers will make a significant difference mostly because they are likely to actually turn out and vote.
I have predicted that some Democrats will be unseated, enough to create economic and political gridlock in 2011. I predicted 'the politics of the backlash' in 2008. The Republicans will replace some Democrats. There is no political party called the Tea Party of consequence. I understood that Republicans would win because voters would be unhappy and reject enough incumbents resulting in a shift power in the federal legislature.
The coming economic and political gridlock will continue in 2011 & 2012. Obama will serve only one term.
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Post by waltc on Aug 1, 2010 18:09:04 GMT -6
Uhh the article didn't even mention the teabaggers, it was about how GOP economic policies since Reagan have systematically destroyed this country.
Though he doesn't mention 'Free Trade" that too was a GOP creation that Clinton pushed through and took credit for. And since then every 'Free Trade' agreement, the GOP has been in lockstep support of.
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Post by kramer on Aug 2, 2010 21:17:20 GMT -6
Stockman rips the GOP a new asshole on their destruction of the U.S. economy. And don't expect him to be invited to the Glenn Beck or O'rielly show either. www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1&pagewanted=allHere's a excerpt: IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon reach $18 trillion. That’s a Greece-scale 120 percent of gross domestic product, and fairly screams out for austerity and sacrifice. It is therefore unseemly for the Senate minority leader, Mitch McConnell, to insist that the nation’s wealthiest taxpayers be spared even a three-percentage-point rate increase.
More fundamentally, Mr. McConnell’s stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.
This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.
The first of these started when the Nixon administration defaulted on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world. Now, since we have lived beyond our means as a nation for nearly 40 years, our cumulative current-account deficit — the combined shortfall on our trade in goods, services and income — has reached nearly $8 trillion. That’s borrowed prosperity on an epic scale. This excerpt from the article is misleading because it lays blame on offshoring on Republicans: Here's some excerpts from a 1977 NYTimes article: What do these excerpts from the article show? They show that offshoring started well before Reagan and more importantly, that our government supports it to our detriment. It also shows that the World Bank is a major factor in development and this organization was started by the communist infested administration of FDR who I think would be more concerned about equalizing the world's economies than the welfare of the US which is what these Bretton Woods organizations are trying to achieve. Another issue with the article is Stockton not mentioning how Clinton gave the communist Chinese PNTR after he and the DNC received illegal contributions from them and how this resulted in an acceleration of good paying jobs being sent to China. One would think that a "real Republican" would have reported these relevant news facts. All that said, in my view, we are purposely being economically gutted and I think both parties deserve blame.
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Post by unlawflcombatnt on Aug 3, 2010 2:25:02 GMT -6
The first of these started when the Nixon administration defaulted on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world. Now, since we have lived beyond our means as a nation for nearly 40 years, our cumulative current-account deficit — the combined shortfall on our trade in goods, services and income — has reached nearly $8 trillion. That’s borrowed prosperity on an epic scale. [/i] [/quote] This excerpt from the article is misleading because it lays blame on offshoring on Republicans:[/quote] Most of the blame DOES belong with Republicans. It was the Republicans in Congress that provided the majority that passed PNTR with China, NAFTA, and CAFTA. In the latter case, the Republican speaker kept the vote open well beyond the normal deadline to the vote, in order to get enough Republicans to vote yes to outsource even more US jobs. It is the Republicans, as a whole, that are responsible for the massive loss of jobs due to outsourcing and free trade. The fact that one particular DINO (Democrat in Name Only) pushed NAFTA and China trade does not throw this in the Democrats lap. The Republicans had been pushing for free trade and outsourcing of American jobs for years, and finally got a Democratic dupe like Clinton to go along with it. It was under Bush the W that outsourcing really took off and essentially destroyed our economy. It was Bush and his appointees that gave multinationals the green light to outsource every job possible to foreign countries. It was his asshole appointees like Greg Mankiw that publicly declared it was good to outsource American jobs. Unrestricted Free Trade, Globalization, and Offshoring of American jobs was the brainchild of Republicans, not Democrats. There may have been a lot of willing Democratic co-conspirators, but it was Republicans who provided the bulk of every majority vote that passed Free Traitor legislation in Congress. And who is it today, that stands up for these treasonous American-owned multinationals when they ship jobs offshore? Republicans, every single time. A couple of nights ago on CSPAN I witnessed a typical Republican puke-athon in Congress, where the only agenda was reducing taxes on the rich, reducing regulation on Wall Street mobsters, and--oh yes--not "blaming" China for our own problems. The latter part of this regurgitation came from turd-brain Republican Congressman Gingrey. Never mind the fact that he disingenuously mischaracterized what the 2 Democrats who'd previously spoken had said. In Gingrey's sick mind, our $260 billion trade deficit with China's not a problem. Which is the kind of crap that could easily come out of the mouths of at least 200 other RepubliCON congressmen. According to Gingrey and his ilk's logic, American workers just are just too lazy, too stupid, and too unproductive to have jobs in the 1st place. And those poor greedy multinationals are just too "overburdened" with regulations. In fact, according to Gingrey's line of thinking, if we just eliminated all taxes on the rich and Corporations, eliminated all anti-trust regulation, banned all union activity, eliminated all workplace safety rules, and eliminated all social welfare programs that encourage us lazy-ass Americans not to seek work--all of our economic problems would be solved. Gingrey made me realize again, what a bunch of disgusting self-serving pukes the majority of Republican legislators are.
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Post by graybeard on Aug 3, 2010 6:22:32 GMT -6
Bravo, UC
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Post by kramer on Aug 3, 2010 7:53:33 GMT -6
Most of the blame DOES belong with Republicans. It was the Republicans in Congress that provided the majority that passed PNTR with China, NAFTA, and CAFTA. In the latter case, the Republican speaker kept the vote open well beyond the normal deadline to the vote, in order to get enough Republicans to vote yes to outsource even more US jobs. And do you know why Republicans wanted PNTR? So that American countries could use China's cheap labor so that they could compete against other companies using Chinese labor vs slowly losing market share and going out of business. Clinton gave them PNTR because he and the DNC were bought off by the communist Chinese government and because democrats aren't that far away from many of the ideals of communism and socialism. It is the Republicans, as a whole, that are responsible for the massive loss of jobs due to outsourcing and free trade. So, are Republicans responsible for the textile industry leaving the US? That NYTimes article I referenced suggests the World Bank pushing for the offshoring of jobs as does this following '77 article from a Canadian newspaper: The fact that one particular DINO (Democrat in Name Only) pushed NAFTA and China trade does not throw this in the Democrats lap. The Republicans had been pushing for free trade and outsourcing of American jobs for years, and finally got a Democratic dupe like Clinton to go along with it. So, do you really think we conservatives think Bush is a true Republican? We don't, I realized back around 2002 that he was no conservative. It took Bill Buckley a few more years to realize this: www.cbsnews.com/stories/2006/07/22/eveningnews/main1826838.shtmlIt was under Bush the W that outsourcing really took off and essentially destroyed our economy. That's true but that's because Clinton signed PNTR around Oct-Nov of 2000. Unrestricted Free Trade, Globalization, and Offshoring of American jobs was the brainchild of Republicans, not Democrats. Everything I've read about the World Bank and the IMF show these organizations support free trade, globalization, and the redistribution of jobs from developed countries to developing countries in order to reduce world poverty and equalize world economies. These organizations were created from the actions of FDR, whose admin was infested with communists. There may have been a lot of willing Democratic co-conspirators, but it was Republicans who provided the bulk of every majority vote that passed Free Traitor legislation in Congress. Well, I'm not saying Republicans aren't guilty, I'm just saying that there's more blame on democrats than people realize and it starts with the World Bank and the IMF (and the UN). Have you ever looked at the World Economic Forum website? I have and one thing I noticed is that they list a bunch of American companies on the site. They also list several people associated with international socialism and communism on the site such as Joseph Stiglitz (a member of Socialist International and former member of the Clinton ("DINO") administration, Gordon Brown, and Maurice Strong. Why would the American companies listed on this site be associated with an organization (World Economic Forum) that has people who belong to Socialist International and a known communist? Probably because it's a myth that large American companies are run exclusively by Republicans. Kramer
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Post by unlawflcombatnt on Aug 3, 2010 13:53:00 GMT -6
There may have been a lot of willing Democratic co-conspirators, but it was Republicans who provided the bulk of every majority vote that passed Free Traitor legislation in Congress. Well, I'm not saying Republicans aren't guilty, I'm just saying that there's more blame on democrats than people realize. On that I completely agree. And that applies especially to the current administration. Democrats certainly have lended a helping hand to the cause of outsourcing, globalization, and free trade. In fact, if Democrats had voted in a larger majority against NAFTA and CAFTA, neither would have become law. But the fact remains, however, that the bulk of the "yea" votes on both bills came from Republicans.
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Post by fredorbob on Aug 3, 2010 16:01:39 GMT -6
Stockman rips the GOP a new asshole on their destruction of the U.S. economy. And don't expect him to be invited to the Glenn Beck or O'rielly show either. www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1&pagewanted=allHere's a excerpt: IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon reach $18 trillion. That’s a Greece-scale 120 percent of gross domestic product, and fairly screams out for austerity and sacrifice. It is therefore unseemly for the Senate minority leader, Mitch McConnell, to insist that the nation’s wealthiest taxpayers be spared even a three-percentage-point rate increase.
More fundamentally, Mr. McConnell’s stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.
This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.
The first of these started when the Nixon administration defaulted on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world. Now, since we have lived beyond our means as a nation for nearly 40 years, our cumulative current-account deficit — the combined shortfall on our trade in goods, services and income — has reached nearly $8 trillion. That’s borrowed prosperity on an epic scale. This excerpt from the article is misleading because it lays blame on offshoring on Republicans: Here's some excerpts from a 1977 NYTimes article: What do these excerpts from the article show? They show that offshoring started well before Reagan and more importantly, that our government supports it to our detriment. It also shows that the World Bank is a major factor in development and this organization was started by the communist infested administration of FDR who I think would be more concerned about equalizing the world's economies than the welfare of the US which is what these Bretton Woods organizations are trying to achieve. Another issue with the article is Stockton not mentioning how Clinton gave the communist Chinese PNTR after he and the DNC received illegal contributions from them and how this resulted in an acceleration of good paying jobs being sent to China. One would think that a "real Republican" would have reported these relevant news facts. All that said, in my view, we are purposely being economically gutted and I think both parties deserve blame. Yeah, you got a point. I could barely spell my name in 1977, so can't comment accurately other then to say that the 1970's was when America was fat and happy and being magnanimous.
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Post by fredorbob on Aug 3, 2010 16:04:04 GMT -6
This excerpt from the article is misleading because it lays blame on offshoring on Republicans: Most of the blame DOES belong with Republicans. It was the Republicans in Congress that provided the majority that passed PNTR with China, NAFTA, and CAFTA. In the latter case, the Republican speaker kept the vote open well beyond the normal deadline to the vote, in order to get enough Republicans to vote yes to outsource even more US jobs. It is the Republicans, as a whole, that are responsible for the massive loss of jobs due to outsourcing and free trade. The fact that one particular DINO (Democrat in Name Only) pushed NAFTA and China trade does not throw this in the Democrats lap. The Republicans had been pushing for free trade and outsourcing of American jobs for years, and finally got a Democratic dupe like Clinton to go along with it. It was under Bush the W that outsourcing really took off and essentially destroyed our economy. It was Bush and his appointees that gave multinationals the green light to outsource every job possible to foreign countries. It was his asshole appointees like Greg Mankiw that publicly declared it was good to outsource American jobs. Unrestricted Free Trade, Globalization, and Offshoring of American jobs was the brainchild of Republicans, not Democrats. There may have been a lot of willing Democratic co-conspirators, but it was Republicans who provided the bulk of every majority vote that passed Free Traitor legislation in Congress. And who is it today, that stands up for these treasonous American-owned multinationals when they ship jobs offshore? Republicans, every single time. A couple of nights ago on CSPAN I witnessed a typical Republican puke-athon in Congress, where the only agenda was reducing taxes on the rich, reducing regulation on Wall Street mobsters, and--oh yes--not "blaming" China for our own problems. The latter part of this regurgitation came from turd-brain Republican Congressman Gingrey. Never mind the fact that he disingenuously mischaracterized what the 2 Democrats who'd previously spoken had said. In Gingrey's sick mind, our $260 billion trade deficit with China's not a problem. Which is the kind of crap that could easily come out of the mouths of at least 200 other RepubliCON congressmen. According to Gingrey and his ilk's logic, American workers just are just too lazy, too stupid, and too unproductive to have jobs in the 1st place. And those poor greedy multinationals are just too "overburdened" with regulations. In fact, according to Gingrey's line of thinking, if we just eliminated all taxes on the rich and Corporations, eliminated all anti-trust regulation, banned all union activity, eliminated all workplace safety rules, and eliminated all social welfare programs that encourage us lazy-ass Americans not to seek work--all of our economic problems would be solved. Gingrey made me realize again, what a bunch of disgusting self-serving pukes the majority of Republican legislators are. True. But Democrats just had a super-majority in Congress, and presidency, and didn't do anything about it.
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Post by judes on Aug 3, 2010 18:57:07 GMT -6
Wait a minute you have to go back farther than 77, Carter only got elected in 77 and that article makes mention of a trend fully under way. It started at least two administrations before him, namely Nixon and Ford. Henry Kissinger was one of the biggest proponents of pushing for normalized trade relations with China, him and another Republican Secretary of state, Haig. Both Kissinger and Haig served in the Nixon and Ford administrations. This article will give some background: www.foreignaffairs.com/articles/24601/alexander-eckstein/chinas-trade-policy-and-sino-american-relationsand this article will tell you the real reason they pushed for free trade with China: findarticles.com/p/articles/mi_m1571/is_n14_v13/ai_19329278/But the biggest mistake anyone can make is to try to fit this into a republican vs democrat issue. The two party propaganda is strictly that, and serves only as a tool to keep people distracted to the real issues and culprits and that is that the "elected", scratch that make it bought and paid for, elite who run our government are equally sold out to the top 2% of the wealth holders and don't give a shit about anyone else. The articles that say free trade was developed to help lift poor countries up is propaganda to deceive those on the "left" to go along, the propaganda that is spewed about free trade bringing prosperity to all through increased productivity and high tech skills is thrown out to deceive those on the "right" to go along, all propaganda, and all to get the majority to go along with the policies that are to the detriment of the many and extremely profitable to the few at the top.
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