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Now you tell us

Races for the Senate, U.S. House, etc. and other issues of national importance.

Re: Now you tell us

Postby snoqueen » Mon Aug 08, 2011 4:52 pm

Russ Feingold says (through his political action organization) the problem is too much corporate money behind politicians. We can't get rid of this until we get rid of the "money is speech" and "corporations are people" rulings by the present Supreme Court. And that won't happen until some of the present Supremes kick the bucket, basically.

Until then the whole thing continues going down the drain.

Some see the recall elections tomorrow as a kind of referendum on the far right. What'll happen with THAT, and will it make any difference, is wide open. For now, it looks like Big Money versus boots-on-the-ground, and that's unprecedented and unpredictable.

Interesting times.
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Re: Now you tell us

Postby green union terrace chair » Mon Aug 08, 2011 4:58 pm

kurt_w wrote:And Wall Street responds by buying US Treasuries, which would make no sense if you believed that the downgrade was an actual sign of no confidence in US debt ... but makes perfect sense as long as you understand the downgrade as a vote of no confidence in the economic prospects for a society whose government is being held hostage by teabaggers.

The world is virtually rushing to buy US debt because nothing else seems safe.

You got it in that last sentence. Some investors believe that US debt is a better refuge at the moment with its negative real interest than the stock market. It's like, would you rather lose 1% or 10%?

There are other areas that are continuing (and will continue) to rally, like gold and other metals, but responses have been widespread and varied.
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Re: Now you tell us

Postby kurt_w » Mon Aug 08, 2011 7:12 pm

... and with millions of people out of work, the economy stagnant, and the world practically beating on our door pleading to let them invest in American debt even at a negative real interest rate ... Washington is obsessing over "austerity" and "belt tightening" and how many trillions of dollars we can avoid spending.

The longer this economic crisis drags on, the more peoples' lives it's going to screw up. Conservatives apparently think pain for pain's sake is good (as long as it happens to someone else), moderates are so paralyzed by doubt and confusion that they can't or won't do anything, and progressives are seething in furious helplessness, having basically no influence in Washington (as always).
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Re: Now you tell us

Postby bleurose » Thu Aug 18, 2011 10:16 am

Thank you, Terrace. I am revising my outlook - the "weak recovery" that some analysts define is apparently the beaten down and regulation-strangled corporations and grossly undercompensated CEOs which are struggling valiantly back against all odds to lift this great country out of the recession. The facts that these job creators :roll: are keeping all the cash to themselves, continuing to send even more jobs offshore and pushing for yet lower & lower taxes while still posting record profits is their way of sacrificing themselves to Get The Economy Rolling Again. I apologize for not seeing that before. :oops:
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