Oct 18, 2022·edited Oct 18, 2022Liked by Robert Reich
For the same reason most people aren't calling out their workplaces for mistreatment...don't bite the hand that funds you. You can adjust this question 20 ways and it would still be the same answer...
Why aren't Democrats talking about...
who was really responsible for the Great Recession?
why so many transparently racist, misogynistic, authoritarian nutjobs (who also hate regulations) keep getting campaigns funded and getting into office?
the billions Republicans gave away to the wealthy?
the trillions that disappear through the Pentagon?
how the media has failed us repeatedly from their coverage of Bush v Gore through WMDs, the real estate crash, the endless Wall St. ponzi schemes dressed up as financial innovation, and the destruction of our rights and democracy?
Journalists at BBC World Service report on inflation and other economic woes around the world which have been happening since Covid, made worse by Russia's invasion of Ukraine. On the other hand, American news outlets, including NPR, the NYT and WP, as well as the right-wing media, of course, focus only on the United States. If Democrats want to set the story straight about the economy, they should be speaking about inflation in other countries. That way maybe, just maybe, American news outlets will finally explain that inflation and supply chain problems are a worldwide phenomenon, not caused by Joe Biden and the Democrats.
And add in Democrat leadership refusing to bring to a vote the proposed ban on Congressional and Judiciary (and their family members) from stock trading, although index funds would be allowed. Blocked by Pelosi and Steny Hoyer. May be doomed after the midterms. Sick. Come on people!
Heaven forbid Democrats would raise the specter of inflation being caused by flagrant corporate greed. Corporate price gouging while raking in massive profits is the cornerstone of unregulated capitalism. But hey gotta keep the donors satisfied at the expense of ordinary citizens' unmitigated economic pain. And no, there will not be mention of this fact by Democratic candidates lest they be labelled 'Socialists' -- a fate worse than death in the realm of American politics.
Is the economy to be run for the benefit of the nation or simply to enrich a tiny elite? Greed is destroying our democracy and our institutions. These CEOs and their fantastically rapacious boards are run by men and women who have one God and that God is greed. They have zero interest in the nation and the welfare of its citizens. They really are our enemy and pretending otherwise merely emboldens them.
Do Americans ever peep outside their bubble and see what is happening in the rest of the world?
Inflation is in double figures here in the UK and not much lower in the rest of Europe. Our stupid right wing government recently removed one idiot Prime Minister (Johnson) and installed a new one (Lizz Truss), a name worryingly similar to Trump, who thought she could borrow money to reduce tax, mainly for the very rich and big corporations.
This upset the markets, set off a run on the pound and interest rates rocketed.
The Bank of England had to step in and raise interest rates to prevent a pension fund disaster, but mortgage rates climbed from around 2% to 6% overnight.
Now she has fired her chancellor, been forced to climb down and reverse all the stupid tax cuts. But enormous damage has been done to the UK economy.
Meanwhile the oil and gas companies continue to reap in enormous profits, which many people here believe should be subject to a substantial ‘windfall tax’.
All this on top of the major causes of inflation, ie Covid and Putin.
Wake up America and check out what’s happening elsewhere.
I think the reason for why Dems aren't talking about the real cause of inflation is pretty simple. The Democrats are not talking about the real cause of inflation because the majority of elected Democrats are really pro-corporate neoliberals who are keen on "protecting" corporations and provide increasing power and privilege to corporations rather than corporate-less individuals.
As an example, Obama after all, did bring us Citizens United.
They still have many other items to point to like Ukraine being the main reason for the fuel prices, the drought, companies having a hard time hiring employees, etc. That said, reporters, journalists, can perhaps start to report the facts about corporate gluttony instead of the latest rumor.
To give one example, 4 companies control 70-90% of global grain trade. One of these, Cargill Inc's profits are up 23 % to $165 billion. The war in Ukraine is a win for these companies.
The Democrats need to stop the price gouging by large corporations and realizes this is the real reason for inflation and the Fed raising interest rates does nothing to tackle the real inflationary causes.To use increase mortgage interest rates is the wrong tool and it shows central bankers cannot fix the inflation problem, the solution must come from politicans with the guts to call out the profiteers.
I have no doubt that the democrats are responsible for the average voter losing faith in democracy. Forty years of allowing and being complicit with Republicans who have transferred so much wealth that many no longer have a living wage much less a middle class is demoralizing. That’s why so many republicans and a few democrats have given up on democracy and now endorse Fascism. Robert: starting the Berkeley Reich Monthly Profit Index could give us hope by educating voters, economists, and legislators and steering them towards economic equality and preservation of democracy. Put it in their face every month as your legacy
We are capitalist first, democracy second. Since our needs as humans are best served the other way around, this is very unfortunate. Now in particular, the biggest lever the GOP has to actually destroy democracy is inflation. We here are all old enough to recall, “it’s the economy, stupid”. Some of the DNC’s brightest stars have embraced small donations, but most have not.
I agree with most of the posts here: the problem is that Democrats are just as dependent on wealthy donors as Republicans. There is also the historical problem that Democrats reacted to Reagan in fear and shifted to the right. They have never recovered. As to the wealthy donors problem, there is one at least partial solution that should be pursued. That is public funding of elections. Other democratic countries use this to limit donor power. That is not a full or perfect solution to the problem of money in politics, but it could be a start.
The Democratic Party also suffers in the current climate because, unlike the post-Reagan Republican Party, it is a coalition of people of various ideologies. While the party includes progressives, it is not a party of progressives. Some of us grew up in a time when both parties included a spectrum of ideologies. The far right used Ronald Reagan to take over the Republican Party and purge moderates and progressives. The Democrats remain a coalition. That comes with both strengths and weaknesses.
Money is the golden calf that corporate executives worship these days on the altar of greed - and I agree, Democrats better start playing hardball with that message.
Many Democrats are funded by corporations so they are mute on the subject. But they are also quiet on the slow rolling Insurrection as well. With only a few weeks to go they have to hope the Supreme Court decision on Roe and the attack on democracy is enough to allow them to remain in power. But many are not helping their cause directly.
In 1977, the #1 F500 Company was Exxon, at $ 48B. #500 was Foxboro, at $ 377M. A spread of 120x - ish. Since that time, the dollar has lost 75% ish of its value - according to the stats (meh,) but in 1978, I lived in a 1200 foot 2 bedroom with my parents on 80th street, rent=$ 550. Today, that unit would fetch $ 8000. So much for the CPI. Similarly, the #1 F500 today, Walmart, is close to $ 500B (or over 10 times Exxon then) and #500 is at $ 24B, or roughly 80 times larger than its 1977 counterpart (and a spread of 20x,) - even if we divide that by 4, we're still 20 times larger. There just isn't any competition in this oligarcho-kakistocracy, where power-hungry incompetence and largesse are not just the norm, they are desirable and written about. It literally means a lower count of Presidents/CEOs with a dearth of individual style and creativity. These larger, monolithic corporations also feed politicians, and, in the immortal words of Arnold in 'Yes, Prime Minister,' 'no politician will tear down the ladder that put him where he is.' So this version (and there are many) of capitalism is utterly rotten. Putin can't get enough of pointing this out - except that his version of existence is so many orders of magnitude worse. My take is just a simplified version of the real complexities. How does this relate to RR's column, you ask, (I will subscribe, Bob, after I am whole, hopefully Jan. 23?) How do these actual people - because even Democratic Congressmen and Senators are real people - shit on corporations without killing their own coffers? AOC can rely on 85%, but Conor Lamb is on a 200-vote margin. The platitude is 'Citizens United looms large,' but that's too easy. Mergers, Acquisitions, and deregulation - Reagan and Clinton's - are to blame. It's not getting fixed before November. The candidates in question are terrified. Just how much money will Bezos (the Ork) or Musk (the cokehead) spend on attack ads if I, brave congressman from, say, Pennsylvania, use the terms 'capital gains' or, better still, 'price controls?'
For the same reason most people aren't calling out their workplaces for mistreatment...don't bite the hand that funds you. You can adjust this question 20 ways and it would still be the same answer...
Why aren't Democrats talking about...
who was really responsible for the Great Recession?
why so many transparently racist, misogynistic, authoritarian nutjobs (who also hate regulations) keep getting campaigns funded and getting into office?
the billions Republicans gave away to the wealthy?
the trillions that disappear through the Pentagon?
how the media has failed us repeatedly from their coverage of Bush v Gore through WMDs, the real estate crash, the endless Wall St. ponzi schemes dressed up as financial innovation, and the destruction of our rights and democracy?
The banks "frankly own the place."
Journalists at BBC World Service report on inflation and other economic woes around the world which have been happening since Covid, made worse by Russia's invasion of Ukraine. On the other hand, American news outlets, including NPR, the NYT and WP, as well as the right-wing media, of course, focus only on the United States. If Democrats want to set the story straight about the economy, they should be speaking about inflation in other countries. That way maybe, just maybe, American news outlets will finally explain that inflation and supply chain problems are a worldwide phenomenon, not caused by Joe Biden and the Democrats.
And add in Democrat leadership refusing to bring to a vote the proposed ban on Congressional and Judiciary (and their family members) from stock trading, although index funds would be allowed. Blocked by Pelosi and Steny Hoyer. May be doomed after the midterms. Sick. Come on people!
Heaven forbid Democrats would raise the specter of inflation being caused by flagrant corporate greed. Corporate price gouging while raking in massive profits is the cornerstone of unregulated capitalism. But hey gotta keep the donors satisfied at the expense of ordinary citizens' unmitigated economic pain. And no, there will not be mention of this fact by Democratic candidates lest they be labelled 'Socialists' -- a fate worse than death in the realm of American politics.
Is the economy to be run for the benefit of the nation or simply to enrich a tiny elite? Greed is destroying our democracy and our institutions. These CEOs and their fantastically rapacious boards are run by men and women who have one God and that God is greed. They have zero interest in the nation and the welfare of its citizens. They really are our enemy and pretending otherwise merely emboldens them.
Do Americans ever peep outside their bubble and see what is happening in the rest of the world?
Inflation is in double figures here in the UK and not much lower in the rest of Europe. Our stupid right wing government recently removed one idiot Prime Minister (Johnson) and installed a new one (Lizz Truss), a name worryingly similar to Trump, who thought she could borrow money to reduce tax, mainly for the very rich and big corporations.
This upset the markets, set off a run on the pound and interest rates rocketed.
The Bank of England had to step in and raise interest rates to prevent a pension fund disaster, but mortgage rates climbed from around 2% to 6% overnight.
Now she has fired her chancellor, been forced to climb down and reverse all the stupid tax cuts. But enormous damage has been done to the UK economy.
Meanwhile the oil and gas companies continue to reap in enormous profits, which many people here believe should be subject to a substantial ‘windfall tax’.
All this on top of the major causes of inflation, ie Covid and Putin.
Wake up America and check out what’s happening elsewhere.
I think the reason for why Dems aren't talking about the real cause of inflation is pretty simple. The Democrats are not talking about the real cause of inflation because the majority of elected Democrats are really pro-corporate neoliberals who are keen on "protecting" corporations and provide increasing power and privilege to corporations rather than corporate-less individuals.
As an example, Obama after all, did bring us Citizens United.
They still have many other items to point to like Ukraine being the main reason for the fuel prices, the drought, companies having a hard time hiring employees, etc. That said, reporters, journalists, can perhaps start to report the facts about corporate gluttony instead of the latest rumor.
As always, the answer requires one to only follow the money.
To give one example, 4 companies control 70-90% of global grain trade. One of these, Cargill Inc's profits are up 23 % to $165 billion. The war in Ukraine is a win for these companies.
The Democrats need to stop the price gouging by large corporations and realizes this is the real reason for inflation and the Fed raising interest rates does nothing to tackle the real inflationary causes.To use increase mortgage interest rates is the wrong tool and it shows central bankers cannot fix the inflation problem, the solution must come from politicans with the guts to call out the profiteers.
I have no doubt that the democrats are responsible for the average voter losing faith in democracy. Forty years of allowing and being complicit with Republicans who have transferred so much wealth that many no longer have a living wage much less a middle class is demoralizing. That’s why so many republicans and a few democrats have given up on democracy and now endorse Fascism. Robert: starting the Berkeley Reich Monthly Profit Index could give us hope by educating voters, economists, and legislators and steering them towards economic equality and preservation of democracy. Put it in their face every month as your legacy
We are capitalist first, democracy second. Since our needs as humans are best served the other way around, this is very unfortunate. Now in particular, the biggest lever the GOP has to actually destroy democracy is inflation. We here are all old enough to recall, “it’s the economy, stupid”. Some of the DNC’s brightest stars have embraced small donations, but most have not.
I agree with most of the posts here: the problem is that Democrats are just as dependent on wealthy donors as Republicans. There is also the historical problem that Democrats reacted to Reagan in fear and shifted to the right. They have never recovered. As to the wealthy donors problem, there is one at least partial solution that should be pursued. That is public funding of elections. Other democratic countries use this to limit donor power. That is not a full or perfect solution to the problem of money in politics, but it could be a start.
The Democratic Party also suffers in the current climate because, unlike the post-Reagan Republican Party, it is a coalition of people of various ideologies. While the party includes progressives, it is not a party of progressives. Some of us grew up in a time when both parties included a spectrum of ideologies. The far right used Ronald Reagan to take over the Republican Party and purge moderates and progressives. The Democrats remain a coalition. That comes with both strengths and weaknesses.
Money is the golden calf that corporate executives worship these days on the altar of greed - and I agree, Democrats better start playing hardball with that message.
Many Democrats are funded by corporations so they are mute on the subject. But they are also quiet on the slow rolling Insurrection as well. With only a few weeks to go they have to hope the Supreme Court decision on Roe and the attack on democracy is enough to allow them to remain in power. But many are not helping their cause directly.
In 1977, the #1 F500 Company was Exxon, at $ 48B. #500 was Foxboro, at $ 377M. A spread of 120x - ish. Since that time, the dollar has lost 75% ish of its value - according to the stats (meh,) but in 1978, I lived in a 1200 foot 2 bedroom with my parents on 80th street, rent=$ 550. Today, that unit would fetch $ 8000. So much for the CPI. Similarly, the #1 F500 today, Walmart, is close to $ 500B (or over 10 times Exxon then) and #500 is at $ 24B, or roughly 80 times larger than its 1977 counterpart (and a spread of 20x,) - even if we divide that by 4, we're still 20 times larger. There just isn't any competition in this oligarcho-kakistocracy, where power-hungry incompetence and largesse are not just the norm, they are desirable and written about. It literally means a lower count of Presidents/CEOs with a dearth of individual style and creativity. These larger, monolithic corporations also feed politicians, and, in the immortal words of Arnold in 'Yes, Prime Minister,' 'no politician will tear down the ladder that put him where he is.' So this version (and there are many) of capitalism is utterly rotten. Putin can't get enough of pointing this out - except that his version of existence is so many orders of magnitude worse. My take is just a simplified version of the real complexities. How does this relate to RR's column, you ask, (I will subscribe, Bob, after I am whole, hopefully Jan. 23?) How do these actual people - because even Democratic Congressmen and Senators are real people - shit on corporations without killing their own coffers? AOC can rely on 85%, but Conor Lamb is on a 200-vote margin. The platitude is 'Citizens United looms large,' but that's too easy. Mergers, Acquisitions, and deregulation - Reagan and Clinton's - are to blame. It's not getting fixed before November. The candidates in question are terrified. Just how much money will Bezos (the Ork) or Musk (the cokehead) spend on attack ads if I, brave congressman from, say, Pennsylvania, use the terms 'capital gains' or, better still, 'price controls?'