On the coming corporate capitalist crisis

By Henry McRandall
WRISEUP.COM

They had everything going in their favour – the economy was booming; consumers were spending; unemployment was high enough to keep an army of jobless workers on standby if they were ever needed but not so high that there was much social unrest; government budgets were in relatively good shape; wages and taxes were both moderate.
But then the corporate capitalist class – the billionaires and millionaires – got greedy; and they also got lazy.
For two centuries, corporate citizens – like human citizens – got wealthy by creating a certain amount of real new social wealth. The corporations got richer but so did the people.
In their insatiable lust for wealth and power, the wealthy and powerful simply stopped creating any new real social wealth. What little real new wealth they now created, they seized for themselves.
The pattern was the same across much of the so-called advanced industrial world. But it was most pronounced in the United Kingdom, Canada and, especially, the United States. Continue reading “On the coming corporate capitalist crisis”

The realpolitik of Amerikkkan racism

By Henry McRandall
WRISEUP.COM

Most Americans are proud of citing data that suggests racism and bigotry are on the decline in the United States. But where it really counts – in the distribution of wealth – the gap between whites and other races is actually growing much wider.
On average, a white American household is many times wealthier than black, hispanic, native American, Arab and other minority households. In fact, the wealth gap may be at a historic high and rapidly accelerating.
Consider, if you will, the average white family just in comparison with the two largest racial minorities in Amerikkka – African-Americans and Hispanic-Americans. Continue reading “The realpolitik of Amerikkkan racism”

What Libya should do with Khadafi

By Henry McRandall
WRISEUP.COM

At the time of this writing, Libyan strongman Muammar Khadaf is still somewhere in hiding – either in Libya or in a foreign country granting him asylum. Wherever he is, though, the question must be asked: What should the Libyans do with him if he is captured instead of killed?
Khadafi is despised by the vast majority of his own people – most of whom have legitimate grievances against the brutal 42-year-long ruling tyrant – but he is also despied by most of the international community.
There appear to be two primary options: Turn him over to the ICC (International Criminal Court) for prosecution for war crimes and crimes against humanity or keep him in Libya and let his own people try him for a much wider range of crimes against them. Continue reading “What Libya should do with Khadafi”

Layton’s death hurls NDP into the unknown

By Henry McRandall
WRISEUP.COM

Coming just four months after the NDP’s (New Democratic Party) historic breakthroughs both in Quebec and nationally, the untimely death of the social democratic party’s charismatic leader, Jack Layton, hurls the entire federal party into the unknown.
Not totally unexpected as Layton was evidently battling an acute war with cancer, his death will no doubt lead to some turmoil while interim leader Nycole Turmel shepherds the party toward an inevitable leadership campaign in the coming months.
The NDP almost tripled its number of seats in the House of Commons on May 2, rising from just 36 to 103 Members of Parliament.
Evidently, most of the Mps, like the party’s interim leader, are rookies swept to victory on a wave of Layton’s powerful personal popularity. Without the strong and charismatic leadership of Le Bon Jack, it will be a challenge for many of the newly elected to get in pace with the incumbent caucus and the party’s fluid agenda.
Moreover, as the various eventual contenders for the party’s leadership set out their own platforms, it will be difficult for Turmel to avoid favouring one’s ideas over another’s, and to keep the caucus from doing likewise.
Who might the eventual new federal NDP leader be? Continue reading “Layton’s death hurls NDP into the unknown”

Amerikkka bids to rig its credit rating

By Henry McRandall
WRISEUP.COM

The recent announcement by the Unitied States Department of Justice (DOJ) that it was launching a probe into potential credit-rating-rigging by Standard & Poor’s was nothing more and nothing less than a brutal attempt to intimidate all three credit-rating agencies.
The move by the DOJ came hot on the heels of Standard & Poor’s announcement that it was lowering Uncle Sam’s credit rating from Triple-A to Double-A+.
The fact that demand for U.S. Treasuries actually increased after the Standard & Poor’s downgrade was due primarily to the initial reluctance of Moody’s and Fitch to also downgrade Uncle Sam’s rating.
And to punish Standard & Poor’s and send a powerful message to all three agencies, the DOJ immediately announced its probe into S&P.
The message was clear: Don’t mess with the credit rating of the United States government or face possible criminal prosecution for past crimes. Continue reading “Amerikkka bids to rig its credit rating”

If the wealthy paid their fair tax share

By Henry McRandall
WRISEUP.COM

The United States government is awash in debt and deficits and still no one is looking toward the real solutions to the country’s economic woes – making the banks, the corporations and the wealthy pay their fair share of taxes – for the first time ever.
I can remember a television episode of Ozzie & Harriet (Nelson), a popular sitcom of the late Fifties and early Sixties.
In that episode, Ozzie & Harriet’s teen heartthrob son, Rickie, met a high-school girl in his hometown who implored him to perform at her high school.
Ricky, of course, immediately agreed – but refused to accept any payment because “any more income would put us in the 98 percent tax bracket.” Continue reading “If the wealthy paid their fair tax share”

On the tragic death of ‘Le Bon Jack’

By Henry McRandall
WRISEUP.COM

Canadians of all political stripes were stunned today to learn of the untimely death of Jack Layton, the federal leader of Canada’s leftist NDP (New Democratic Party).
Layton’s passing came less than four months after he had led his party to a historic breakthough both nationally and especially in the predominantly French-speaking province/nation of Quebec, where it rose from just one seat to winning 58 of Quebec’s 75 federal ridings.
Nationally, the party rose from 36 to 103 seats in the 308-seat House of Commons, becoming the Official Opposition for the first time ever in the five-party federal legislature.
Under the leadership of the anglophone federal leader who stole the hearts of many of Quebec’s sovereignists (separatists), the party was now poised to give Canadians their first-ever leftist federal government in the next election, about four years from now. Continue reading “On the tragic death of ‘Le Bon Jack’”

After Khadafi, what’s next for Libya?

By Henry McRandall
WRISEUP.COM

Within hours of this posting, it is almost certain that the Libyan people will have deposed their despised despotic dictator.
It took six months of a virtual stalemate before the rebels finally made the ultimate breakthrough about 72 hours ago and ushered in the end of a brutal and corrupt regime that had ruled without interruption for 42 long years.
It was only today that they managed to seize control of the heart of the capital, Tripoli, and the beleaguered masses in the country’s largest city could finally rise up in desperate jubilation.
Yes, Khadafi may be just about gone; but what about the rest of his regime? What about his army?
It only took two months for the Egyptian masses – the poor, the working class and the middle class – to oust their hated dictator, Hosni Mubarak. But six months after Mubarak ceded the presidency, protesters are still demonstrating on an almost daily basis to try and bring about the change the tattered remnants of the regime are trying to block. Continue reading “After Khadafi, what’s next for Libya?”

Inside bimbo Bachmann’s bubble brain

By Henry McRandall
WRISEUP.COM

Of all the nutbars seeking the Republican Tea Party’s nomination for the 2012 presidential election, perhaps none are as obtuse or as acutely in need of a brain transplant as Congresswoman Michele Bachmann.
The Minnesota Congresswoman and presidential wannabe was all over the mainstream media this week, cavalierly promising that if she is elected, gas prices at the pump will magically fall below $2 a gallon.
Bachmann was not able to explain how this miracle would occur and blithely hinted that her faithful would just have to have more faith.
It got me wondering just how her brain must work and, to find out, I took a sneak peak: Continue reading “Inside bimbo Bachmann’s bubble brain”

Which kind of economic stimulus works?

By Henry McRandall
WRISEUP.COM

A recently-published U.S. study has examined a variety of options for an economic stimulus program and its findings are highly illuminating.
In effect, whom the money goes to has a very significant effect on the economic impact of the stimulus measure that is implemented.
And the economic impact of the various possible measures produces results that tend to rise exponentially in inverse proportion to the income levels of the recipients.
The study found that every dollar the government spends on Food Stamps produces $1.73 in economic activity.
Every dollar spent on Unemployment Insurance produces $1.64 in economic activity.
And every dollar spent on infrastructure generates $1.59 in economic activity.
At the other end of the spectrum, every dollar spent on tax cuts for the wealthy produces just 37 cents in economic activity. Continue reading “Which kind of economic stimulus works?”