Henry A. Giroux | No Bailouts for Youth: Broken Promises and Dashed Hopes
Henry A. Giroux, Truthout: "It appears ever more unlikely that the Obama administration will undo the havoc wrought by the Bush administration (itself the culmination of a decades-long trend toward market deregulation) or reverse the effects of a rampant free-market fundamentalism now unleashed across the globe. As the financial crisis looms large in the lives of the majority of Americans, government funds are used to bail out Wall Street bankers rather than being used to address either the growing impoverishment of the many people who have lost homes, jobs and hope of a better future, or the structural conditions that created such problems. In this scenario, a privileged minority retains the freedom to purchase time, goods, services, and security, while the vast majority of people are relegated to a life without protections, benefits, and safety supports. For those populations considered expendable, redundant and invisible by virtue of their race, class and age, life becomes increasingly precarious."
Art Levine | As Treasury Department Stumbles, Liberals Push Tougher Measures to Stem Foreclosures
Art Levine, Truthout: "With today's scheduled announcement by the Treasury Department of new efforts to pressure lenders to lower mortgage costs, progressive economists, advocacy groups and legislators are pushing for tougher measures to keep homeowners in their homes - and to force banks to take losses on their exploding mortgages. In contrast, the Obama administration's response to a crisis that is causing two million families a year to face the loss of their homes has been widely derided as ineffective."
Housing Meltdown, Ground Zero: The American Home-Owning Dream on Life Support
Andy Kroll, TomDispatch.com: "At the end of a week in mid-October when the Dow Jones soared past 10,000, Goldman Sachs recorded 'just another fantastic quarter' with a $3.2 billion quarterly profit, JPMorgan Chase raked in a cool $3.6 billion, and a New York Times headline declared 'Bailout Helps Revive Banks, And Bonuses,' I spent a Saturday evening with about 100 people camped out in a northern California parking lot ... These people, and thousands more like them who had streamed into the arena all day long from as far away as Los Angeles, Phoenix and Las Vegas, were unemployed, broke, bankrupt or at their wit's end. They were here waiting for help - for their chance to make it inside the warm arena to participate in 'America's Best Mortgage Program.'"
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Thoughts
December 1 2009, 17:03:41 UTC 11 years ago
I've done that too.
>>And I believe it's actually worse than it was in the Middle Ages.<<
Hmm ... for most of the American poor, it's not that bad. You have to go to Appalachia or the Indian reservations for that. But I think the gap is wider, because the high end has gotten higher. I'm sure the lordlings haven't figured out that stretching the rubber band farther will make it snap harder.
>>I'm not sure either concept really exists in today's selfish, conceited society of capitalism gone mad. Today it seems that the principle of using and abusing those less fortunate is rarely countered by other, more savoury priciples.<<
I've been thinking about this, and it actually goes farther. America teaches greed as a virtue. I bought some chicken nuggets the other day and the carton was actually plastered with slogans telling you to keep them all to yourself and not share with friends who wanted some. I was appalled. *ponder* I also gave the last two to my partner.
For all the snide remarks about how bad socialism is, America seems bound and determined to demonstrate the flaws of capitalism gone made, precisely as described in the socialist and communist diatribes against capitalism.
*sigh* Which only shows what historians have known all along: any political system bigger than a tribe or a clan will turn obnoxious after human beings have been added to it. We simply haven't come up with a large system that can cope with people's desire to shaft one another. Some are better than others, but all of them fall apart eventually.
>>The responsibility that should come with money and power, the duty the rich and powerful have to society as a whole because of their wealth and power, is mostly forgotten.<<
I am disturbingly reminded of the sequence in Spiderman that began at "With great power comes great responsibility," went through "I'm sorry, I missed the part where that's my problem," and ended with a fatality.
>>Sure, medieval nobles frequently misused and abused the common folk, but what do you call sending troops to fight a voluntary, never-ending war for no justifiable reason? What do you call ignoring the sorry state of the common folk while continuing to line the pockets of the well-to-do, the same greedy, irresponsible bastards that were responsible for the sorry state to begin with?<<
History repeating itself.
>>Or maybe we just haven't advanced nearly as far as we think. Perhaps we are more like our medieval ancestors than we would like to think.<<
This is probably the case.
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Re: Thoughts
December 4 2009, 02:56:27 UTC 11 years ago
Eh, that's a point. I don't know how many times God has warned people about that one, but it never seems to last. Maybe the Muslims will have better luck with their halal mortgages.
>>Not to mention, I think a lot of the material things of American society are just a sophisticated form of circus, as in "bread and circuses" (mixing up my historical periods a bit).<<
I can't remember the last time I watched the news without grumbling "bread and circuses." I don't watch it much anymore, just when I'm out somewhere and walk past it.
>>Rome did indeed fall in the end.<<
Too true. I am further reminded of the lead in Roman pipes and jar seals, and the toxic substances the corporations are putting into American food.
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Re: Thoughts
December 4 2009, 17:52:25 UTC 11 years ago
Despite that, I suspect that a majority of the damage is indeed caused by substances in an area of ignorance. That's because only about 200 of the tens of thousands of chemicals used in America have ever been fully tested for safety. Most are assumed safe until proven otherwise, which is insane, but that does make it difficult to avoid dangerous ones. Another thing that is almost never tested, but is suspected of contributing to cancer and allergies and immunodeficiency diseases, are the interactions between the thousands of chemicals dousing our world. That reminds me very much of the Smile-X in the Batman movie.
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Hmm...
December 4 2009, 02:58:31 UTC 11 years ago