Tag Archives: depression

This Beat Down is for Your Health – the Money Party Must Stop Occupy Movements

By Michael Collins

“The problems we are facing were not created by us, but we deign to shed light on them and so we are blamed for them. The truth is, every person at our protest is there because the system is broken.” Samuel Rutledge, Open Newswire, Portland Indymedia

The fascist financiers of the Money Party are growing restless. Occupy Wall Street began with a call to action from the activist online group Anonymous in August. It was barely featured in the mainstream or alternate media. Instead of a small crowd that could easily be ignored then disbursed, fifty thousand citizens showed up at the headquarters for the world financial system, Wall Street. Despite the best efforts of Mayor Bloomberg and NYPD, the Occupy Wall Street continues. The message went out to the country and the world. Now, there are over 100 occupy events in Oakland, Kansas City, Washington, DC, and elsewhere. (Image: K. Kendall)
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Super Congress in Session – More of the Cruel Charade

By Michael Collins


Wall Street and the big banks owe $1.5 trillion for the bailout (at least). The Super Congress needs to cut $1.5 trillion over ten years. Get the money from Wall Street and cancel the Super Congress. Problem solved.

Last month’s debt ceiling crisis was resolved when Congress and the Obama administration made a deal to cut trillions in federal spending over the next ten years. Congress identified the easy cuts, the low hanging fruit so to speak, for a total of nearly $1.0 trillion. At the same time, Congress and the White House created the “Super Congress” committee of six senators and six representatives charged with cutting another $1.5 trillion. (Image: Lucy White with permission)
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The Crazies versus the Sleepwalkers – Big Budget Showdown

By Michael Collins

The Republican crazies are in a celebrity death match with sleepwalking Democrats. It is a fabricated drama amounting to not much of anything in terms of the nation’s well being. The stakes are supposedly the shutdown of the United States government at midnight this Friday. But the most pressing issue isn’t discussed on Capitol Hill.

Why can’t anyone in a position of power mention the unmentionable? There have been no net new jobs in the United States since 2000. There were 137 million employed citizens that year. There are 139 million employed citizens today. This comes into clear focus when you consider the size of the workforce for 2000 and 2010; 143 million versus 154 million respectively. There are actually fewer jobs in proportion to the workforce.

Isn’t this a worthy topic?   Shouldn’t the story be carried nightly on a major network with a title like: Jobless America, Day 4112?
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Decline and Fall (Maybe) January 1, 2011

The Happy New Year Edition (with some good news about 2011)

Michael Collins

The best thing about 2010 is that it’s over. It was a year filled with utter stupidity, mendacity, and greed beyond all bounds on the part of our rulers, also known as The Money Party. Lots of fiddling while Rome and the rest of the world burned. Knowledge is power and among the ruling elite in the United States, the power was off. Somebody forgot to pay the bill or paid with a bad check, no doubt.

A Decade of Job Stagnation In 2000, 135 million citizens were employed. In 2010 there were 139 million Americans employed. Given the 9.7% increase in population since 2000, we would expect to see at least 148 million citizens with jobs. Nobody much wants to talk about this or the true unemployment figures produced by the US Census called “U6”. That measure accounts for, “Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.” Bureau of Labor Statistics
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Lies on Unemployment – The jobs are there


Robert Oak at Economic Populist has rebutted the notion that hiring is stalled due to a “skills shortage.” The latest news from the masters of disaster is that there are 5 million jobs in the United States open because of a skills shortage. Not so! as Oak skill fully demonstrates as he demolishes that claim empirically.
See: Blame Employers for the Jobs Crisis – Economic Populist

There is no skills shortage, there never was a skill shortage. There is a shortage of good employers who do not discriminate, age discriminate, ship jobs to India, China, Brazil and treat their workers like cannon fodder. There also is a shortage of jobs, pure and simple. Put U.S. workers first. Demand these employers quit their inane, harsh, wage repressing, discriminatory labor practices. Put a few of of these traitorous employers in jail and sue ’em. Deal with trade and offshore outsourcing, invest in America and Americans. Then and only then will we might actually get somewhere to putting people back to work. Robert Oak

Can anyone in Washington DC read? Unemployment!

By Bill Mitchell
Billy Blog

Macroeconomics has returned to the discredited Treasury view with some modern embellishments. The major attacks of the government fiscal stimulus to conquer unemployment now resonate almost exactly with the bunk that was trotted out by the conservatives during the 1929 British election campaign. The modern proponents (centered at Harvard and Chicago) also appear largely unaware of the arguments and seem content to peddle their nonsense oblivious that their ‘knowledge’ ceased to be such 80 odd years ago. It isn’t rocket science to understand what has happened. The ‘budget cuts have impaired the economy’s ability to grow’. You simply cannot withdraw (drastically) the main source of spending and not expect output to fall (dramatically), writes Bill Mitchell.

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Economists Challenge Deficit Reduction

Michael Collins

Three hundred economists released a letter to President Obama today with one message: focus on jobs, not on the deficit. new deal 2.0

Don’t kill jobs and growth in the name of deficit reduction. Statement and 300 endorsers.

“There Is No Economic Justification for Deficit Reduction” Galbraith to Deficit Commission

Posted by Michael Collins

Your proceedings are clouded by illegitimacy.

The conclusion to be drawn is that Social Security should in any event be off the agenda of your Commission, as it is a transfer program and not a program of public spending in the economic sense. In particular it does not use capital resources and will not drive up interest rates. This is true whether the “Social Security System” is in internal balance or not. James K. Galbraith

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Things the President Left Out of His Big Speech

Michael Collins

I just read the presidents big speech tonight and it struck me. There were some key lines left out of the speech. You may have had the same response. For the sake of clarity and fairness, I’ve tried to reconstruct the missing lines. I’m sure that the omissions were just an accident. Or maybe that Robert Gibbs may be up to his old tricks again. My insertions are in italics, following the president’s words from the official White House transcript. White House, August 31, 2010 Here goes.

THE PRESIDENT: Good evening. Tonight, I’d like to talk to you about the end of our combat mission in Iraq, the ongoing security challenges we face, and the need to rebuild our nation here at home. But before I do that, we need a moment of truth. The Iraq war was based on a deliberate lie involving the White House distorting the National intelligence estimate on Iraqi Weapons of Mass Destruction (WMD). The report got it wrong on WMD. There were none. But it concluded that the only way the nonexistent WMD would be used against the United States was in retaliation for a US attack on Iraq that threatened Saddam Hussein. By deleting this information, the Bush-Cheney White House justified a preemptive invasion without any basis, a crime under international law that our nation helped establish after World War II. Continue reading

Why Economic Growth in the United States Cannot Happen

By Joaquin posted by Michael Collins

So, you cut back on your lifestyle; performed a so un-Greek personal austerity reset but your credit card balance is still creeping up; or perhaps you are slowly burning through your savings; or you are at the end of the line; abandon ship. Whatever, you have a lot of company out there. (Image)

Why is it so hard to make ends meet these days? The days of living high on the credit hog are over and we all have to get small but in the end, we still have to make ends meet; we have to pay for food, pay for utilities, buy gas, etc. How to make that work?

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Congress, Get To Work: America Needs Jobs!

By Terrance Heath May 25, 2010   OurFuture.org

“I have worked all my life.”

It’s something that’s true of many Americans, whether employed or unemployed. But it has a special resonance for Americans who have worked hard, and are wiling to work, but face a jobless recovery. These are Americans whose needs and concerns will get special attention during a jobs plenary at America’s Future Now! in Washington starting June 7.

“I have worked all my life.”

That was the phrase most often repeated by the seven citizens who testified at the “Putting America Back To Work: Direct Job Creation in Local Communities” forum, sponsored by Campaign for Community Change and the Leadership Conference on Civil Rights. The forum was intended to rally support for the Local Jobs For America Act (HR 4812)which would:

Where are the Populists?

Michael Collins

“There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.”  William Jennings Bryan, 1896

Populism is broadly defined as “political ideas and activities that are intended to represent ordinary people’s needs and wishes.” The majority are  deliberately held down by the financial elite.  Removal of the financial elite is the vehicle to realize the “people’s needs and wishes.” (Graph)

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Then the Financial Tsunami Hit … Frontline report

This is a front line report on the class war.   Edwin Girdle (The Colonel) had an excellent business going until he needed a loan after the shock of 2008.  The banks that got billions weren’t lending and there was no help anywhere else in the “safety net.”  His story is compelling and clear.  Noted at Jerome Doolittle’s blog at SmirkingChimp.com who first posted this and reprinted with Mr. Girdle’s permission. Michael Collins

For three years I owned and operated a mini-market/gas station in a Cincinnati, Ohio suburb. I bought an already existing store using all the assets I had, including my 401K funds, after being down-sized from my middle-management career of 22 years (in one of the many industries which the U.S. can no longer keep onshore).

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