The Incredible Hoax of Reaganomics- Trickle-Down 2/3

by Nomad

In Part One of this series, we looked at David Stockman, Reagan's budget adviser and his candid assessment back of Reagan's application of supply-side economics, better known as the trickle-down theory. Now let's take a look at the intellectual origins of the idea.

Plutocracy is abhorrent to a republic; it is more despotic than monarchy, more heartless than aristocracy, more selfish than bureaucracy. It preys upon the nation in time of peace and conspires against it in the hour of its calamity.

Horse and Sparrow Theory

History is sometimes a fickle thing. Often it remembers those who should probably be forgotten while forgetting those who, for one reason or another, deserve our lasting appreciation.

William Jennings Bryan is one of those people who was quite popular in his time but has now been largely consigned to unread records. However, not unlike his contemporary, Teddy Roosevelt, Bryan’s words and thoughts, once considered fixed to a particular time and particular circumstance of American history, seem to be suddenly just as apt in our own times.

Born in 1860 in Salem, Illinois, Bryan was a gifted orator of his day and as an American political figure,, ran three times for president in the liberal wing of the Democratic Party. Bryan never won the presidency but eventually became Woodrow Wilson’s Secretary of State in 1913. 

His name is familiar in some circles because of his role in the famous Scope’s “Monkey Trial” in which he argued against the teaching of evolution in public school. Although he was left humiliated after being called to the stand himself to defend religion against science, Bryan, in fact, he won the case; the teacher was found guilty of breaking the law but the verdict was later overturned on a technicality. For that to be his only claim to fame is a pity. He appears to have much to say to our present age.

The Incredible Hoax of Reaganomics- The David Stockman Debacle 1/3

 by Nomad

For some time now, every GOP candidate wants to find some way, any way, to make a linkage to Ronald Reagan. It goes way beyond an illegitimate comparison into the offensive and idiotic. During the campaign in an interview with CNN, for example, Newt Gingrich had the audacity to say,

"I think a big mistake on my part was to try to bring in conventional consultants. Because I am much like Reagan and Margaret Thatcher, I'm such an unconventional political figure that you really need to design a unique campaign that fits the way I operate and what I'm trying to do."

As if by invoking the name of the 40th president- like some enchanted spell- it will bring them political magic or a cloak of invisibility to hide their shameful ideological nakedness. 

Trickle-Down is Reaganomics

Many have objected to Obama’s call for a fair tax system, in which the super wealthy will pay their rightful share. Taxing the “job creators” is, they bewail, out of the question. Where on earth do you expect jobs to come from if you punish success? they moan. Of course, anybody familiar with history will recognize that line of thinking as the trickle-down theory, which was a key feature of Reagan’s economic plan.

Musical Sanity Break- Under Pressure

This Musical Sanity Break- UNDER PRESSURE, by David Bowie and Queen- is dedicated to the upcoming debate between Barack Obama, the 44th and current President of the United States and Mitt Romney, Republican candidate and former governor of Massachusetts.

Romney, whose campaign has largely become a series of missteps, is banking his hopes for winning the election on his performance at the debates. It is quite a gamble when you look at all of his gaffes and the possibility that he could fail under the stress is, indeed, high. On the other hand, Obama has repeatedly shown that he is able to maintain his poise when challenged. So it should be interesting.

This 1981 song is one of my favorites, by the way. For a popular song, the lyrics are pretty impressive. 

Why can't we give ourselves just one more chance?

Why can't we give love just one more chance?

'Cause love's such an old fashioned word

And love dares you to care for

The people on the edge of the night

And loves dares you to change our way of

Caring about ourselves

This is our last dance

This is our last dance

This is ourselves... 

under pressure.

Unions and Citizens United: What Romney Doesn't Want You to Know

by Nomad

I

n a desperate attempt to find some issue that he can talk about- apart from foreign policy, Medicare,  gay marriage, social security, health care, tax reform or any of the other subjects he considers "political landmines"-  candidate Mitt Romney has selected an easy punching bag- teacher unions. 

Last week, Romney recently made clear his contempt for both teachers and for free speech at a roundtable discussion. He began to lecture the attendees with his opinions on teachers unions and the voucher system. When one member of the group offered her opinions on the subject, he silenced her with the imperious statement “‘I didn’t ask you a question." 
This was a monologue, not a dialogue. This conversation went one way only.

Yesterday while attempting to take another shot at teachers unions he, sadly, revealed his complete ignorance (or his hypocrisy) on one of the most important and damaging court decisions of our times.

(CBS News) Republican nominee Mitt Romney said Tuesday that Democratic politicians have a conflict of interest in dealing with teacher unions because the unions contribute so heavily to their campaigns. He suggested that money should somehow be diverted or cut off, although he did not offer details.

The bigger problem, Romney said, is that "the person sitting across the table from them should not have received the largest campaign contribution from the teachers union themselves ... [It's] an extraordinary conflict of interest and something that should be addressed."

He later added that "we simply can't have" elected officials who have received large contributions from teachers sitting across from them at the bargaining table "supposedly" to represent the interests of children. "I think it's a mistake," Romney said. "I think we have to get the money out of the teachers unions going into campaigns. It's the wrong way for us to go. We've got to separate that."

There’s a very good reason why Romney should feel embarrassed to have such a remark. He appears uneducated to the full scope of the 2010 Citizens United decision. 

The Bain-Fisher Effect: When Romney Visited Marshalltown, Iowa

by Nomad

I

n the clip below from a recent interview for a local Iowa radio station, we hear Romney doing what Romney likes best- talking about Romney and his love for the common people. He talks about his familiarity with the area, throwing in a lot of famous local landmarks to improve an illusion of sincerity and personal connection. 

More interestingly, he explains to the DJ how he himself once worked in Marshalltown, Iowa as a consultant. He mentions that he worked with a company called Fisher Controls.

http://bit.ly/PHMmfj

So I decided to take a moment to look into the history of Fisher Controls.