Hey Barry:
Let's be clear about something.
Tax cuts do NOT create jobs.
When the REPS say that tax cuts create jobs, they are LYING.
It is really hard to get some truth into the fog machine the REPS keep running.
Here's the truth: businesses create jobs when businesses have a lot of sales.
Tax cuts when there is no increase in demand just save the owners money, and then they buy a yacht - see Larry Ellison - they do NOT hire people because they pay less taxes.
The REPS keep repeating the phrase that tax cuts create jobs. It is a LIE.
It was Lenin who said that a lie repeated often enough becomes accepted as truth.
So, the REPS are repeating Communist propaganda because they are following Lenin.
Do not be fooled by the rhetoric, Barry.
Your pal,
Saturday, November 6, 2010
Friday, November 5, 2010
Winter is icumen in
Hey Barry:
Supposin we actually have a deflation.
It will feel like a big freeze - you won't be able to move. You will be stuck where you are. You will have only what you have and no more.
If you can survive on what you have you'll be in good shape, but some of us will freeze to death - in reality and metaphor.
Here's how Ezra Pound puts it:
Winter is icumen in,
Lhude sing Goddamm,
Raineth drop and staineth slop,
And how the wind doth ramm!
Sing: Goddamm.
Skiddeth bus and sloppeth us,
Freezeth river, turneth liver,
An ague hath my ham.
Damm you; Sing: Goddamm.
Goddamm, Goddamm, 'tis why I am, Goddamm,
So 'gainst the winter's balm.
Sing goddamm, damm, sing goddamm,
Sing goddamm, sing goddamm, DAMM.
Your pal,
Supposin we actually have a deflation.
It will feel like a big freeze - you won't be able to move. You will be stuck where you are. You will have only what you have and no more.
If you can survive on what you have you'll be in good shape, but some of us will freeze to death - in reality and metaphor.
Here's how Ezra Pound puts it:
Winter is icumen in,
Lhude sing Goddamm,
Raineth drop and staineth slop,
And how the wind doth ramm!
Sing: Goddamm.
Skiddeth bus and sloppeth us,
Freezeth river, turneth liver,
An ague hath my ham.
Damm you; Sing: Goddamm.
Goddamm, Goddamm, 'tis why I am, Goddamm,
So 'gainst the winter's balm.
Sing goddamm, damm, sing goddamm,
Sing goddamm, sing goddamm, DAMM.
Your pal,
Thursday, November 4, 2010
Buckle Up, Folks
Hey Barry:
Watched your newscast after the mid-term elections yesterday. Understand that you're down a little. But, don't be. Your are fighting the good fight and results will come - just not as fast as right now.
Besides, the DEMS drop off is not that different from earlier elections and completely expected.
There are one or two things I think you should take care of soon, before the new Congress is sworn. And there is another huge problem looming on the horizon.
Extending unemployment insurance and ending the Bush tax cuts are two things you should accomplish soon.
But, the big problem is a deflation that may be coming. Benny and the FED are shoveling money out the door as fast as they can. They are concerned about a Japanese style deflation and also concerned that the new Reps will hamstring any effective action by the Federal Government to restore aggregate demand.
The current recovery is fragile. It still needs some help. The help can come from additional consumer demand, business investment and/or federal stimulus.
CONSUMER DEMAND
Increasing consumer demand requires more jobs and more income for consumers. I know you are totally all over that. You have consistently called for keeping the middle class tax cuts - which will support demand.
BUSINESS INVESTMENT
You probably remember that Keynes called the spirit which moves businesses to invest 'animal spirits'. By that he meant that businesses move in a herd - like sheep. It just takes one firm to make a move, then the rest will follow. Maybe you can jawbone some CEO into making a big investment - can't hurt.
STIMULUS
If Bernanke is right that Congress will not approve any more federal stimulus spending, we may be looking at a deflation and continued high unemployment.
RADICAL SOLUTION
In my radical moments, I think the solution is to empower unions to strike for higher wages, prohibit commercial banks from investing in businesses, break up all the monopolies and oligopolies, enact a 90% income and 'death' tax on the RICH, restrict the free movement of capital out of the country and create a tariff wall so that businesses cannot move all our jobs to China and Malaysia.
And then I wake up.
So Barry, where does that leave you and me?
I think we keep on fighting the good fight and recognize that some events are too big to change; we take our small victories where we can.
It's gonna be a hell of a ride, Barry, buckle up them seat belts.
Your pal,
Watched your newscast after the mid-term elections yesterday. Understand that you're down a little. But, don't be. Your are fighting the good fight and results will come - just not as fast as right now.
Besides, the DEMS drop off is not that different from earlier elections and completely expected.
There are one or two things I think you should take care of soon, before the new Congress is sworn. And there is another huge problem looming on the horizon.
Extending unemployment insurance and ending the Bush tax cuts are two things you should accomplish soon.
But, the big problem is a deflation that may be coming. Benny and the FED are shoveling money out the door as fast as they can. They are concerned about a Japanese style deflation and also concerned that the new Reps will hamstring any effective action by the Federal Government to restore aggregate demand.
The current recovery is fragile. It still needs some help. The help can come from additional consumer demand, business investment and/or federal stimulus.
CONSUMER DEMAND
Increasing consumer demand requires more jobs and more income for consumers. I know you are totally all over that. You have consistently called for keeping the middle class tax cuts - which will support demand.
BUSINESS INVESTMENT
You probably remember that Keynes called the spirit which moves businesses to invest 'animal spirits'. By that he meant that businesses move in a herd - like sheep. It just takes one firm to make a move, then the rest will follow. Maybe you can jawbone some CEO into making a big investment - can't hurt.
STIMULUS
If Bernanke is right that Congress will not approve any more federal stimulus spending, we may be looking at a deflation and continued high unemployment.
RADICAL SOLUTION
In my radical moments, I think the solution is to empower unions to strike for higher wages, prohibit commercial banks from investing in businesses, break up all the monopolies and oligopolies, enact a 90% income and 'death' tax on the RICH, restrict the free movement of capital out of the country and create a tariff wall so that businesses cannot move all our jobs to China and Malaysia.
And then I wake up.
So Barry, where does that leave you and me?
I think we keep on fighting the good fight and recognize that some events are too big to change; we take our small victories where we can.
It's gonna be a hell of a ride, Barry, buckle up them seat belts.
Your pal,
Wednesday, November 3, 2010
California is NOT For Sale
Hey Barry:
I'm proud to be in a state where we don't sell out.
Meg tried to the tune of $160 million - no sale.
Go home and roll around in your money, Meg.
Leave us be.
Your pal,
I'm proud to be in a state where we don't sell out.
Meg tried to the tune of $160 million - no sale.
Go home and roll around in your money, Meg.
Leave us be.
Your pal,
Monday, November 1, 2010
USA: Top Heavy and Fallin
Hey Barry:
So, exactly where are we as a country today? It's a big question. And, the answer is not good Barry.
Basically we are a two class society, Barry.
The top 20% of RICH folks own 93% of the USA's financial wealth - total wealth less value of the house.
Read it here: http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
Let me repeat that: the RICHEST 20% own 93% of total wealth.
Barry, most of the time 93% means ALL OF IT.
You an me - we aint got squat.
Let's look ahead and see what is likely to happen.
This condition cannot continue as it is.
Something's gotta give. We gonna tip over.
Where will we be after we fall, Barry? That's the question.
As an indication, I'm going to quote Kevin Phillips from his book WEALTH AND DEMOCRACY, 2002. Let's see if you can guess what country and time he is describing. Oh, I will change a few words here and there:
The country had "...come to be an extreme contrast of rich and poor...Our condition is one in which we have rich who loll at ease, or poor who beg, and we a lack middle class whom neither wealth nor poverty prevents their pursuing the rightful kind of business...."
This could describe San Francisco yesterday. Or England in the 1900's.
But it actually describes Spain in 1600 [Martin Gonzalez de Cellorigio]. Shortly after that was written Spain ceased to be an international power and was relegated to second class status as a country.
That's our future Barry.
The only way out is to change the income and wealth distribution so that we have a middle class.
Your pal,
So, exactly where are we as a country today? It's a big question. And, the answer is not good Barry.
Basically we are a two class society, Barry.
The top 20% of RICH folks own 93% of the USA's financial wealth - total wealth less value of the house.
Read it here: http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
Let me repeat that: the RICHEST 20% own 93% of total wealth.
Barry, most of the time 93% means ALL OF IT.
You an me - we aint got squat.
Let's look ahead and see what is likely to happen.
This condition cannot continue as it is.
Something's gotta give. We gonna tip over.
Where will we be after we fall, Barry? That's the question.
As an indication, I'm going to quote Kevin Phillips from his book WEALTH AND DEMOCRACY, 2002. Let's see if you can guess what country and time he is describing. Oh, I will change a few words here and there:
The country had "...come to be an extreme contrast of rich and poor...Our condition is one in which we have rich who loll at ease, or poor who beg, and we a lack middle class whom neither wealth nor poverty prevents their pursuing the rightful kind of business...."
This could describe San Francisco yesterday. Or England in the 1900's.
But it actually describes Spain in 1600 [Martin Gonzalez de Cellorigio]. Shortly after that was written Spain ceased to be an international power and was relegated to second class status as a country.
That's our future Barry.
The only way out is to change the income and wealth distribution so that we have a middle class.
Your pal,
Supremes Keep Disclosure
Hey Barry:
While they did not exactly acknowledge a mistake or make amends, the supremes just upheld disclosure rules for political actors.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/11/01/national/w070520D46.DTL
Now you can have Attorney General Holder enforce the rules aggressively.
It's something we need Barry.
Your pal,
While they did not exactly acknowledge a mistake or make amends, the supremes just upheld disclosure rules for political actors.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/11/01/national/w070520D46.DTL
Now you can have Attorney General Holder enforce the rules aggressively.
It's something we need Barry.
Your pal,
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