Archive for the ‘American’ Tag
American Public Wants
Public Says No To Republicans’ Slasher-Movie Economics
Scott Walker feels the heat as public opinion polls show very low favorable ratings
Are most people sick and tired of losing their jobs, or watching neighbors take pay cuts
Meanwhile, it’s great to be on Wall Street. It must be glorious. You crash the economy, get a taxpayer bailout and hand out record bonuses.
People are marching on banks in cities across the nation complaining about their record bonuses.
From a person who was there:
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This was a very promising beginning, my friends!
For those who weren’t there other chants included:
“We’re not going away! We will make you PAY!” and “Bank of American You Can’t Hide, We Can See Your Greedy (or Evil) Side!” and “The Banks Get Bailed Out / The People Get Sold Out!”
And the top six banks in the US pay on 11% of their tax share instead of the 35% that they should pay because of tax loopholes. They also have not been loaning money out to help out small businesses in the country.
Character Politics
Three editorials in today’s Washington Post contained statements that carried suggestions about the character of the American people today.
Richard Cohen focuses on the deluge that many people feel as times have abruptly changed on them. He opines that a generation or so ago, “One had the feeling that what with wars and famines, disease and ruthless economic cycles, one could never really control one’s own life.” He compares today to the change wrought by the Great Depression and notes that “The people of the 1920s and ’30s were tough, hard. They did not expect all that much from life, and they had learned to expect next to nothing from government.
In contrast, we are soft, coddled. We actually thought that we could have a house we could not afford and a mortgage that we could not pay and that it would all somehow work out. This keeps being called the American dream. It was actually the American delusion.”
This agrees with a fantastic book by Christopher Lasch, The Culture of Narcissism from 1979, in which among other things, Lasch noted changes in our attitudes toward work and a softness in our characters and a focus on our individual selves.
Eugene Robinson applauds Obama’s budget submission and long-term view. “There’s a reason Obama’s approval ratings remain so high. He senses that Americans yearn for greater fairness and accountability, especially after the excesses that threaten to wreck our economy and destroy so many dreams. He knows that American individualism is tempered by the need to feel community in the nation and the world.”
Is Robinson correct? Can the wealthy see their paying of a higher percentage of their money in taxes as equitable? Are Americans willing to forgo certain individual perks for the greater good?
The founder and CEO of LinkedIn, Reid Hoffman, asserts that government stimulus money needs to offer incentives for entrepreneurship and innovation. Such allocation helps small businesses invest and grow, reimagine their products and services, and assess their strengths. Localized innovation develops the economy from the ground up.” Most of us agree that high paying jobs and new products are necessary for the country’s recovery. Some wonder how many jobs and products social networking sites create.
The focus in on comments about character and Hoffman offers this observation about venture capitalists without any irony, “Venture capitalists are biding their time — not for want of good ideas, solid management or stable capital but to ensure that they can get the most bang for their buck. Similarly, venture capital firms are waiting for the slide to stop and the recovery to begin before investing.”
He seems to be saying that the money in this country wants to maximize their individual take and make the most of the situation on a personal level. They will wait until the bad part is over regardless of whether their act could help the recovery take place sooner.
The culture of narcissism wins out.
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