During his inaugural address President Obama mentioned "Worn Out Dogma" and the first thing that came to many minds after "Washington partisanship" was all the far Right Wing propaganda programming that's been darkening the American media landscape for the past dozen years or longer.
I can think of no more appropriate way to describe Rush Limbaugh than the words "worn out dogma", after all the phrase seems to fit him so well. Someone should tell Mr. Limbaugh that the era of loud mouth, partisan, middle aged, over weight white guys who twist the truth is so 90's. He really needs an intervention by his closest friends and family, but I fear he won't get it. He won't get that needed intervention because he's riding the success of being America's most popular Right Wing propagandist and because he's surrounded himself with those who depend on him to keep doing the same thing he's always done.
While he may never receive that needed intervention, I think over time he will come to the stubborn realization that he really has become a "worn out dogma". It may only be after his ratings fall and his syndication is reduced, but it will most certainly come. Until that time Mr. Limbaugh will continue to get more desperate for the attention he once garnered. Oh, don't get me wrong, he will no doubt continue to get support from his "dittoheads" and that narrow, shrinking band of American's who remain bitter, angry and depressed by the resurgence of the Democratic Party and the election of Barack Obama.
As an example of just how that deperation will manifest itself, he recently stated the following:
"My hope, and please understand me when I say this. I disagree fervently with the people on our side of the aisle who have caved and who say, 'Well, I hope he succeeds. We've got to give him a chance.' Why? They didn't give Bush a chance in 2000. Before he was inaugurated, the search-and-destroy mission had begun. I'm not talking about search-and-destroy, but I've been listening to Barack Obama for a year-and-a-half. I know what his politics are. I know what his plans are, as he has stated them. I don't want them to succeed."
"Liberalism is our problem. Liberalism is what's gotten us dangerously close to the precipice here. Why do I want more of it? I don't care what the drive-by story is. I would be honored if the drive-by media headlined me all day long: 'Limbaugh: I Hope Obama Fails.' Somebody's gotta say it."
Mr. Limbaugh continues to focus on outdated themes and rhetoric that most Americans have by now rejected as hyperbole. Simply put, his ideas which are often filled with sarcasm and anger will eventually fade from the collective conscience as Americans find that its healthier to embrace something more promising than a worn out dogma.
Video of the Inaugural Address of the 44th President of the United States Of America
Text of the 44th Presidents Inaugural Address To The Nation
President Obama:
My fellow citizens:
I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors. I thank President Bush for his service to our nation, as well as the generosity and cooperation he has shown throughout this transition. Forty-four Americans have now taken the presidential oath. The words have been spoken during rising tides of prosperity and the still waters of peace. Yet, every so often the oath is taken amidst gathering clouds and raging storms. At these moments, America has carried on not simply because of the skill or vision of those in high office, but because we the people have remained faithful to the ideals of our forebears, and true to our founding documents. So it has been. So it must be with this generation of Americans.
That we are in the midst of crisis is now well understood. Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost; jobs shed; businesses shuttered. Our health care is too costly; our schools fail too many; and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet. These are the indicators of crisis, subject to data and statistics. Less measurable but no less profound is a sapping of confidence across our land — a nagging fear that America's decline is inevitable, and that the next generation must lower its sights.
Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America — they will be met. On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord.
On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn out dogmas, that for far too long have strangled our politics. We remain a young nation, but in the words of Scripture, the time has come to set aside childish things. The time has come to reaffirm our enduring spirit; to choose our better history; to carry forward that precious gift, that noble idea, passed on from generation to generation: the God-given promise that all are equal, all are free and all deserve a chance to pursue their full measure of happiness.
In reaffirming the greatness of our nation, we understand that greatness is never a given. It must be earned. Our journey has never been one of shortcuts or settling for less. It has not been the path for the faint-hearted — for those who prefer leisure over work, or seek only the pleasures of riches and fame. Rather, it has been the risk-takers, the doers, the makers of things — some celebrated but more often men and women obscure in their labor, who have carried us up the long, rugged path towards prosperity and freedom.
For us, they packed up their few worldly possessions and traveled across oceans in search of a new life.
For us, they toiled in sweatshops and settled the West; endured the lash of the whip and plowed the hard earth.
For us, they fought and died, in places like Concord and Gettysburg; Normandy and Khe Sanh. Time and again these men and women struggled and sacrificed and worked till their hands were raw so that we might live a better life. They saw America as bigger than the sum of our individual ambitions; greater than all the differences of birth or wealth or faction.
This is the journey we continue today. We remain the most prosperous, powerful nation on Earth. Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished. But our time of standing pat, of protecting narrow interests and putting off unpleasant decisions — that time has surely passed. Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America.
For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act — not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. All this we will do.
Now, there are some who question the scale of our ambitions — who suggest that our system cannot tolerate too many big plans. Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.
What the cynics fail to understand is that the ground has shifted beneath them — that the stale political arguments that have consumed us for so long no longer apply. The question we ask today is not whether our government is too big or too small, but whether it works — whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified. Where the answer is yes, we intend to move forward. Where the answer is no, programs will end. Those of us who manage the public's dollars will be held to account — to spend wisely, reform bad habits, and do our business in the light of day — because only then can we restore the vital trust between a people and their government.
Nor is the question before us whether the market is a force for good or ill. Its power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control — and that a nation cannot prosper long when it favors only the prosperous. The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart — not out of charity, but because it is the surest route to our common good.
As for our common defense, we reject as false the choice between our safety and our ideals. Our founding fathers ... our found fathers, faced with perils we can scarcely imagine, drafted a charter to assure the rule of law and the rights of man, a charter expanded by the blood of generations. Those ideals still light the world, and we will not give them up for expedience's sake. And so to all the other peoples and governments who are watching today, from the grandest capitals to the small village where my father was born: know that America is a friend of each nation and every man, woman, and child who seeks a future of peace and dignity, and that we are ready to lead once more.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
We are the keepers of this legacy. Guided by these principles once more, we can meet those new threats that demand even greater effort — even greater cooperation and understanding between nations. We will begin to responsibly leave Iraq to its people, and forge a hard-earned peace in Afghanistan. With old friends and former foes, we will work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet. We will not apologize for our way of life, nor will we waver in its defense, and for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken; you cannot outlast us, and we will defeat you.
For we know that our patchwork heritage is a strength, not a weakness. We are a nation of Christians and Muslims, Jews and Hindus — and non-believers. We are shaped by every language and culture, drawn from every end of this Earth; and because we have tasted the bitter swill of civil war and segregation, and emerged from that dark chapter stronger and more united, we cannot help but believe that the old hatreds shall someday pass; that the lines of tribe shall soon dissolve; that as the world grows smaller, our common humanity shall reveal itself; and that America must play its role in ushering in a new era of peace.
To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West — know that your people will judge you on what you can build, not what you destroy. To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history; but that we will extend a hand if you are willing to unclench your fist.
To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds. And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to the suffering outside our borders; nor can we consume the world's resources without regard to effect. For the world has changed, and we must change with it.
As we consider the road that unfolds before us, we remember with humble gratitude those brave Americans who, at this very hour, patrol far-off deserts and distant mountains. They have something to tell us, just as the fallen heroes who lie in Arlington whisper through the ages. We honor them not only because they are guardians of our liberty, but because they embody the spirit of service; a willingness to find meaning in something greater than themselves. And yet, at this moment — a moment that will define a generation — it is precisely this spirit that must inhabit us all.
For as much as government can do and must do, it is ultimately the faith and determination of the American people upon which this nation relies. It is the kindness to take in a stranger when the levees break, the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours. It is the firefighter's courage to storm a stairway filled with smoke, but also a parent's willingness to nurture a child, that finally decides our fate.
Our challenges may be new. The instruments with which we meet them may be new. But those values upon which our success depends — hard work and honesty, courage and fair play, tolerance and curiosity, loyalty and patriotism — these things are old. These things are true. They have been the quiet force of progress throughout our history. What is demanded then is a return to these truths. What is required of us now is a new era of responsibility — a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task.
This is the price and the promise of citizenship.
This is the source of our confidence — the knowledge that God calls on us to shape an uncertain destiny.
This is the meaning of our liberty and our creed — why men and women and children of every race and every faith can join in celebration across this magnificent Mall, and why a man whose father less than sixty years ago might not have been served at a local restaurant can now stand before you to take a most sacred oath.
So let us mark this day with remembrance, of who we are and how far we have traveled. In the year of America's birth, in the coldest of months, a small band of patriots huddled by dying campfires on the shores of an icy river. The capital was abandoned. The enemy was advancing. The snow was stained with blood. At a moment when the outcome of our revolution was most in doubt, the father of our nation ordered these words be read to the people: "Let it be told to the future world ... that in the depth of winter, when nothing but hope and virtue could survive...that the city and the country, alarmed at one common danger, came forth to meet (it)."
America, in the face of our common dangers, in this winter of our hardship, let us remember these timeless words. With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.
Thank you. God bless you. And God bless the United States of America.
Today marks an historic first step in the healing of America, Barack Obama has been elected President. In what many observe is a critical turning point for America, the first Black American has been elected to the highest office in the land.
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For many Black Americans there is special reason to celebrate and they are. But I believe this is a victory for all Americans. The Nation took a giant leap forward tonight, both in symbolic and real terms. By electing Barack Obama President, Americans have spoken loudly that we are going to make genuine attempts to overcome our dark past with respect to race.
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Americans have made a commitment to embracing a new way of thinking and throwing off the yoke of prejudice and narrow thinking in favor of something more hopeful. We don't know yet what kind of President Barack Obama will be and his road will no doubt be difficult, as it is for all those that break new ground, but no matter what happens Americans have have new reason to be hopeful that we can begin to heal our racial differences.
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As Rev. Martin Luther King said so many years ago "An individual has not started living until they can rise above the narrow confines of his or her individualistic concerns to the broader concerns of all humanity". And for all Americans this remains true. As I recollect the many trials and tribulations of the Civil Rights Movement I am reminded of all the sacrifices made by the many that came before us and how it was the foundation they laid that made today possible.
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President Obama will have his hands full, he spoke on this in his speech last night, but Americans must not pin all their hopes on a single man. We must all continue to move forward and redouble our efforts to change our Nation, to form a more perfect Union. We must work to end instituation racism and we must be careful not to become complacent with a single victory.
The last debate was notable for a few things; Joe The Plumber, Senator Government and John McCain's desperation. McCain came out swinging and didn't pull any punches, going after Obama for his connections with Bill Ayers and Acorn. Obama responded calmly, as anyone with a 14 point lead in the point lead and less than 24 days to go should be.
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What was also notable was that both Candidates failed to address what was really on America's mind..."How the hell are we gonna pay for the mess we're in?"
McCain and Obama wanted to talk about Joe the Plumber and Bill Ayers and Acorn, but most Americans wanted to hear about how they planned to pay for all their proposed fixes of the economy.
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McCain didn't win, he just appeared desperate. Obama didn't lose, he just appeared safe.
BIDEN vs. PALIN Minneapolis, Minnesota October 2, 2008
Factcheck.org can sort out who lied and who told the truth, but this is all about first reactions to the debate.
The one and only Vice Presidential debate between Sen. Biden and Gov. Palin took place tonight at Washington University with Gwen Ifill as Moderator. My first impressions are that Palin didn't lose. She didn't win, but she avoided what many expected would be another "Katie Couric" moment and she also managed to get her "folksy" everyday American image across quite well. In that respect, Gov. Palin managed to score many points and those in the Republican Party are likely breathing a huge sigh of relief. Unfortunately, it probably wasn't enough for the McCain campaign and Palin not to lose.
For example, asking a Soccer Mom at a game what she thinks about the economy is perhaps a good way to measure how Soccer Mom's feel about the economy, but I'm not sure many Americans believe its the best way to fix our economy. It'll take more than the wisdom of Joe Six Pack and Hockey Mom's to fix our nations economic woes. It's going to take our best minds and a great deal of honest effort by our elected officials and sacrifice by the American people, sadly something neither Candidate addressed.
Palin's talking style seemed one part "Conservative Talk Radio" and another part "Northern Exposure". She accused the Obama/Biden economic plan of being a redistribution of wealth, a term often used by Right Leaning Radio. She spoke in colloquialisms you'd hear in conversations at the local post office or grocery story. It was real, honest and frankly many Americans can identify with it.
Sen. Biden performed well, looked polished and was significantly better versed on the issues. He appeared executive like, confident and was respectful to his opponent and the issues. I think he responded more substantively to Ifill's questions, such as pointing out McCain's four billion dollar tax cuts to the oil industry, clearing up the "More" taxes assertions and the flaws in the health care plan that McCain has proposed. He also missed some opportunities to differentiate himself and his ticket on the War in Iraq and Foreign Policy.
Biden failed to capitalize when Palin said "we need real change in Washington". Biden could have easily pointed out that Sen. McCain supported President Bush's policies 90% of the time and has committed to continuing many of the Administrations policies.
Biden and Palin traded barbs on such things as "bridge to nowhere" and "Say it ain't so Joe", but moving beyond the media sound bites, this came down to substance and Biden simply had more of it. The McCain campaign and Palin perhaps relied too heavily on the hopes that "regular" Americans would identify with her. Unfortunately for Palin and McCain, I think most Americans see real and serious challenges ahead for our country, challenges that in large part were created by their Party.
This debate was lively, full of energy and enjoyable. It's difficult to criticize either Candidate on their appeal as they both seemed likable and genuine. In the end, Joe Biden just seemed like a Leader. Sarah Palin, God Bless her was capable, confident and didn't lose but was perhaps just a bit out of her league.
Today the stock market took a historic tumble, the biggest single day point drop in its history when it finished down 777 points. Panic ensued as investors sold off stocks after the $700 billion dollar bailout failed to pass the House. The Market lost an estimated $1.2 trillion dollars today.
Warning of "dire consequences" the Republican Administration and House Leadership pressed the Congress to act quickly in passing the bill. The bill was defeated as conservatives who opposed government intervention were joined by many Democrats who had heard from their Constituents. The vote came down mostly along party lines with Democrats voting 140 For and 95 Against, while Republicans voted 65 For and 133 Against.
Election year politics played a significant role as many of the NO votes came from Representatives facing re-election. The package which included a controversial provision that would allow bankruptcy judges to alter Mortgage terms was met with skepticism by many on the Hill who said it was an unacceptable add-on.
It didn't take long for the finger pointing to begin. Rep. Eric Cantor of Virginia said Rep. Pelosi's "failure to listen and failure to lead" was to blame for some Republican defections and Rep. Roy Blunt, the minority whip, said that "a couple" of Republicans said they were offended by the speaker and changed their minds. But he said those lawmakers were already wavering.
Rep. David Obey, a Wisconsin Democrat who stood watching the Republicans criticize Rep. Pelosi, called their remarks "ridiculous." adding, "The President wouldn't have gotten to first base without the cooperation of the Democratic leadership," he said. "Evidently some of these guys would rather lose the economy than lose the election."
The real question being asked by many Americans today is how did this whole mess happen and why should we have to pay for it?
Securities and Exchange Commission Chairman Christopher Cox said today that deregulation was in part to blame for the economic meltdown, citing "voluntary oversight" provisions that were led mostly by Repulican's. Those revisions were driven by insistent lobbying from the five largest investment banks, essentially letting the fox in the hen house.
Of course there is more to the story than that, it was also the greed of investment banks and large mortgage companies who sold risky mortgages by masking them as high grade investments. Some of these thieves even walked away rich. Such as Merrill Lynch's Stanely O'Neal who pocketed a $66 million dollar package or Chuck Prince who left Citigroup with a gift of $16 million.
While all this was going on, the Republicans were cutting taxes for the wealthy and singing the praises of deregulation. The unemployment rate is rising and we are spending $12 billion a month on the war in Iraq in large part due to the failed policies of the Bush Administration.
After the first debate one thing is clear, both Candidates will be prepared and neither is perfect. In what marked the first of three highly anticipated debates Sen. John McCain and Sen. Barack Obama both found themselves on the defensive for their records, experience and judgement.
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For much of the first part of the debate, which was focused on the economy and the looming financial crisis, it was John McCain who was on the defensive. Obama may have missed several opportunities to highlight Senator McCain's role in the current economic crisis as he was one of the biggest deregulators of the past 20 years.
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For John McCain, things became markedly better when the subject of the War in Iraq came up. John McCain talked about the surge and the fact that Sen. Obama did not support it or think it would work and was reluctant afterwards to admit it had worked.
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Foreign policy was another subject that John McCain seemed more comfortable with, but did not score a clear victory on. Obama was able to deftly deflect McCain's attack on his voting record when it came to funding the Troops. Obama pointed out the both he and McCain had voted against funding when the funding was tied to a timeline for withdrawal.
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McCain made a reference to a bracelet he'd been given by the Mother of a fallen soldier and told the story. Obama stated he to had a bracelet with a similar story, but he stumbled on the soldiers name and needed to look at the bracelet to remember it.
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One thing stood out glaringly for most people who watched the debate and that was McCain's lack of eye contact with Obama. Perhaps it is just John McCain's debate style not to look his opponent in the eye, but where I was standing it seemed more like a lack of respect issue. As if McCain, the saavy political veteran, was irritated by the upstart and inexperienced understudy. I think this made McCain look somewhat aloof.
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Before the debate there was considerable talk about Obama's inability to speak without a teleprompter, I think we can put that one to bed now. And while John McCain may be too old for some, he still had a lot of fire for the issues.
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Overall, I think both men missed opportunities to put the other on the ropes and when given the chance felt that discretion was the better part of valor. They were like two heavyweights locked in battle, but reluctant to take a big swing, worried it might miss and leave them open for a big counter. They spent most of the night feeling eachother out and studying the others style. The debate for me was mostly even with a slight edge to Obama who was both deferential and Presidential in his demeanor.
Tonight at the Saint Paul City Hall a public hearing took place as part of an effort to gather stories from people effected by the Republican National Convention. The hearing took place primarily because of the efforts of Councilman Dave Thune who has continously pressed for an investigation into the events surrounding the RNC, including Police conduct.
Saint Paul Mayor Chris Coleman had taken a vacation and was not present. As a matter of record, only four Councilmembers were present, Dave Thune, Lee Helgen, Russ Stark and Melvin Carter. There were members of the Mayor's office in attendance as well as a representative of the Saint Paul Police.
People from business, media and the public all had an opportunity to speak. Speakers from the business community including Sara Ramke, owner of the Black Dog Cafe, said that business was pretty much the same before, during and after the convention.
Media representatives spoke about the suppression of media during the convention and the arrests of over forty journalists including Amy Goodman and others. Andy Driscoll of KFAI Radio drew loud applause when he said "This Council must hold a series of hearings into the breach of Constitutional guarentees." He urged them to act now.
Sara Coffey spoke about the Police raids on their propety in Saint Paul and the conduct of Police in raiding her home. She had video of Officers detaining her without cause. She was handcuffed and held without charge for hours while her home was searched by Police.
Public speakers included Cheri Honkala from the Poor Peoples Economic Rights Campaign who spoke passionately about her experiences which included survailence, visits by the Justice Department months before the RNC and the March itself which ended in Police using rubber bullets, tear gas and pepper spray on Demonstrators that included Children.
Leah Lane, whose now infamous video of Police brutality, spoke about her experiences at the hands of Police at the end of the evening on the fourth day of the RNC.
Colleen Rowley, former FBI Agent, whistleblower and Senate Candidate spoke about her thoughts on the RNC and the Picnic for Peace which she organized and participated in. She was outraged by the overwhelming Police presence and intimidation.
More than thirty speakers took the mic tonight with stories about Police intimidation, violence and in the case of Elliot Hughes, allegations of torture. Councilman Dave Thune promised additional public meetings, but no promises of police or government accountability were made.
The story of Leah Lane is one that stirs the American consciousness. Ms. Lane is a 19 year old woman who took a courageous stand for freedom and discovered what many Americans want to deny, that the Constitution does not protect you.
Lane was participating in a demonstration during the final day of the Republican National Convention. After the Demonstrators were divided and scattered by Riot Police using Tear Gas, Flash Bang Grenades and Mace, a few Demonstrators found themselves isolated on a side street near Sears.
A group of bicycle police advanced and Leah Lane did a funny thing that night, she quit running and started singing. She sang "All you need is love". The Police were NOT amused. They maced her multiple times from three sides. They hit her with their bikes, spraying her with mace again and finally they pushed her down onto the asphalt.
The Police then pulled her into a circle and placed a foot on her face as they arrested her. She called out "I can't breath" but that didn't stop them from treating her like an animal. At least eight Police participated in the arrest.
Regardless of your politics, what Leah Lane did that night in Saint Paul took courage. The sort of moxie you'd expect from big burly Police. It is a sad day for all Americans when those sworn to uphold the law become bullies who callously disregard common human dignity.
Leah Lane isn't angry, she has even gone as far as saying she forgives the Police, but many people are outraged by what they witnessed and want these Police to be held accountable.
Minneapolis - The Bush Brain Trust has urged that Congress move quickly to approve the "mother of all bailouts", which is estimated at near 1 trillion dollars.
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Contention over whether to bail out the mortgage debt of large financial institutions is heating up. House Speaker Nancy Pelosi insisted that the proposal "does not include the necessary safeguards" in reference to excessive executive compensation and protection for homeowners.
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The bailout will include billions to large Wall Street financial firms to cover their speculative investments that went bad when the housing crisis hit. Some financial analysts are saying this will be the most expensive "bailout" in the history of the world.
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The American Tax Payer stands to be straddled with this debt for generations to come. These people in Washington write checks as if it weren't their money, because it isn't, its yours. Some calculations have this adding a total of $3 trillion dollars to the $9 trillion dollar current deficit.
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Years and years of propaganda designed to turn Americans into mindless Consumers who overspend, over-extend and live check to check is finally catching up to us. Our Leaders imitate our people. We are shamed in the media and in real life if we don't keep up, so we spend on credit just to keep up. Now we're broke. We need to stop spending, but we're all addicted and don't know how to live any differently.
Wednesday, September 17, 2008
September 17, 2008
Minneapolis, Minnesota
"This is someone who's been in Congress for 26 years. ... Now he tells us that he's the one who will take on the ol' boy network. The ol' boy network? In the McCain campaign, that's called a staff meeting." - BarackObama
As the rhetoric on the campaign trail heats up, the statement above by BarackObama might have been the zinger of the election season so far. This will resonate with Democrats and Independents because it speaks to the hypocrisy of politics and it caught the proverbial pot calling the kettle black so to say.
A resurgent McCain campaign has been trying hard to capitalize on the so called "Palin bump" as we enter crunch time. Unfortunately, McCain has the same advisers he had before Palin became part of the ticket and no one thought to tell him that attacking the "ol' boy network" included hitting himself upside the head.
Palin's handlers today announced she would NOT cooperate with an investigation. Her Aides say she won't comply with subpoenas issued by state lawmakers investigating the firing of Alaska's former public safety commissioner because Palin "has declined to participate" in the probe, her attorney general says.
Palin, who pledged to cooperate with the state Legislature's investigation is now doing a 180 as they say. This is bound to become an issue in the campaign and one the Democrats are sure to exploit.
Has it now become common place for those in high political office to refuse a lawfully issued subpoena? What do you think would happen if you or I refused a subpoena?
Today the Stock Market had its biggest one day drop since right after 9/11. The cause for this fall was said to be the largest bankruptcy filing in history, that of Lehman Brothers. The filing is connected to risky financial investments, the housing collapse and other bad investments.
The S&P said it would cut its rating on mortgage lender Washington Mutual to JUNK status...their shares fell 27% during trading and another 11% in extended hours trading. Hewlett-Packard said it would cut 24,600 jobs or about 7.5% of its entire workforce. And Merrill Lynch was forced to sell itself to rival Bank of America.
Art Hogan, chief market strategist for Jefferies & Co., stated that the magnitude of the financial industry fallout is unprecedented, and could only be compared to the Great Depression of the 1930s or the railroad bankruptcies of the 1800s.
"We've never witnessed this before, there's no road map for this." said Hogan.
Even though this mess was largely created by greedy banks and ignorant borrowers, the net result has been that the government will step in to bail out Fannie and Freddy at Tax Payer expense and maybe even others. Treasury Secretary Henry Paulson said that he hasn't ruled out additional government bailouts for the future.
This is a Wall Street issue that will impact Main Street, no question. Consumer confidence is low, inflation is rising and many companies have either laid off people or put a freeze on hiring and lenders are not loaning to anyone without very good credit.
Billions of dollars were lost as banks and other financial institutions staked a risky bet on risky mortgages. Many got rich during the boom of the late 90's and early 2000's, including homeowners who cashed out on their equity quickly as banks came calling with low interest rates. "Pay off your credit cards and deduct the interest on the new loan." It sounded good and it was, except for many of these people their homes are now worth less than they owe on them.
With many Americans a pay check away from financial disaster, it was only a matter of time until our out of control spending caught up to us. Sadly, the national debt continued to rise at the same time and so now an entire generation will be strapped with a monumental debt and politicians who are unwilling to speak about, let alone address fixing the problem.
Whether BarackObama or John McCain wins, expect more economic trouble ahead because the financial problems of America and its consumer addicted society will NOT be fixed by a President.
Bill Moyer from http://www.backbonecampaign.org/ appeared on the show tonight and had so many interesting and compelling things to say about the RNC and the our civil liberties. Bill is concerned about the erosion of our Civil Liberties and the unaccountability of our elected officials. He mentioned the best tool in some situations is satire and humor. As serious as our Constitutional Rights are, it seems in the face of overwhleming apathy of our government, all we have sometimes is humor.
I think Bill Moyer explemifies whats best about grass roots activism. He subscribes to the philosophy of non-violent demonstrations and using satire and humor as way to bring attention to the issues of our liberties. He advocates for "small" or "alternative" media as he does NOT believe the American public is being told the truth by "BIG" media.
Unfortunately for most American's who get their news and information from corporate media, many of the important stories are not being told. As a matter of fact it seems truth has taken a back seat to editorialized infotainment. If the press and the people ignore them long enough it seems to me that the REAL stories will never be heard which in turn creates a bad environment for a democracy.
As we saw at the RNC, freedom's guaranteed under the constitution are tenuous at best. Eight hundred American's were jailed during the RNC. Official reports say there were approximately 38 incidents of vandalism and 8 assaults. What the hell were the other 754 people arrested for?
Minneapolis, Minnesota - January 21, 2009 
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