• Tips gratefully accepted here. Thanks!:

  • Recent Comments

    Propertius on Happy Tolkien Reading Day
    thewizardofroz on Is “Balance of Nature…
    Branjor on Is “Balance of Nature…
    riverdaughter on Happy Tolkien Reading Day
    Propertius on Happy Tolkien Reading Day
    Propertius on Throwback Thursday: Corey the…
    Propertius on Throwback Thursday: Corey the…
    jmac on Throwback Thursday: Corey the…
    William on Throwback Thursday: Corey the…
    William on Is “Balance of Nature…
    thewizardofroz on Is “Balance of Nature…
    Beata on Is “Balance of Nature…
    William on Is “Balance of Nature…
    Beata on Is “Balance of Nature…
    seagrl on Why is something so easy so di…
  • Categories

  • Tags

    abortion Add new tag Afghanistan Al Franken Anglachel Atrios bankers Barack Obama Bernie Sanders big pharma Bill Clinton cocktails Conflucians Say Dailykos Democratic Party Democrats Digby DNC Donald Trump Donna Brazile Economy Elizabeth Warren feminism Florida Fox News General Glenn Beck Glenn Greenwald Goldman Sachs health care Health Care Reform Hillary Clinton Howard Dean John Edwards John McCain Jon Corzine Karl Rove Matt Taibbi Media medicare Michelle Obama Michigan misogyny Mitt Romney Morning Edition Morning News Links Nancy Pelosi New Jersey news NO WE WON'T Obama Obamacare OccupyWallStreet occupy wall street Open thread Paul Krugman Politics Presidential Election 2008 PUMA racism Republicans research Sarah Palin sexism Single Payer snark Social Security Supreme Court Terry Gross Texas Tim Geithner unemployment Wall Street WikiLeaks women
  • Archives

  • History

    September 2008
    S M T W T F S
  • RSS Paul Krugman: Conscience of a Liberal

    • An error has occurred; the feed is probably down. Try again later.
  • The Confluence

    The Confluence

  • RSS Suburban Guerrilla

  • RSS Ian Welsh

    • Open Thread
      Use to discuss topics unrelated to recent posts.
  • Top Posts

Yeah, what SHE said!

The WayBack machine takes us back to March 2007 (H/T Dyhana)  She gets going good at about 6 minutes in on the sub-prime mortgage crisis and its potential impact on the economy:

Oh, by the way, Senator Clinton is sponsoring a bill that will provide $1.7 Billion dollars ro mass transit projects around the country (H/T Downticket).  Of course, it is a tiny drop in the bucket compared to the hundreds of billions of dollars we as taxpayers will be forking out to banks and investment companies to cover the losses of their disastrous get-rich-quick schemes.  Would it be too much to ask those guys to give back their enormous bonuses they made in the last couple of years?  Yes, I guess it would be too much.

Well, a paltry $1.7 Billion for a worthwhile bill is better than nothing but it only scratches the surface.  At least she’s doing something about it.


Faster, Economy. Fail! Fail! Fail!???

Dammit, I Coulda Fixed This Mess!

Dammit, I Coulda Fixed This Mess!

Oh dear, oh dear. Is our post-Chicago School neo-liberal deregulated greed-is-good utopia showing the cracks in its free-for-all facade?

NEW YORK – When Wall Street woke up Monday morning, two more of its storied firms had vanished.

Lehman Brothers, burdened by $60 billion in soured real-estate holdings, said it is filing for Chapter 11 bankruptcy after attempts to rescue the 158-year-old firm failed.

Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in an $50 billion all-stock transaction.

The demise of the independent Wall Street institutions came as shock waves from the 14-month-old credit crisis roiled the U.S. financial system six months after the collapse of Bear Stearns.

The world’s largest insurance company, American International Group Inc., also was forced into a restructuring.

But are we panicking? Heck no! The Murkin economy is strong and secure! The fundamentals are sound! Pay no attention to that man behind the curtain!

Well, maybe we’re panicking a little bit.

And a global consortium of banks, working with government officials in New York, announced a $70 billion pool of funds to lend to troubled financial companies.

The aim, according to participants who spoke to The Associated Press, was to prevent a worldwide panic on stock and other financial exchanges.

Ten banks – Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley and UBS – each agreed to provide $7 billion “to help enhance liquidity and mitigate the unprecedented volatility and other challenges affecting global equity and debt markets.”

In a way, I think this was the point of globalization – to get us all so dependent on each other that no large country’s economy could be allowed to fail. Unfortunately, there is a lot of good faith assumed under this idea – good faith which we, as a nation, did not practice. We allowed our banking institutions to make extremely risky investments and deregulated our credit industries, and now both our economy and the economies of other nations around the world are being adversely affected.

Continue reading

What it will take to get the Democrats’ attention

This is my favorite photograph from a compilation of photos taken during The Great Depression.  The photos were commissioned by the US Government as part of a FSA-OWI project.

Hauling Peaches in Colorado During the Great Depression

Hauling Peaches in Colorado During the Great Depression

There are ominous signs on the horizon.  Lehman Brothers declared bankruptcy today.  Other financial institutions are failing and a great majority of middle income households have their savings tied up in 401Ks and investments where the investment professionals themselves don’t know what the hell they’re doing.  They were able to structure “instruments” to get around government regulation. Women have seen a sharp spike in unemployment in the past quarter. And we have two candidates who are both ill-equipped to handle what is about to happen.  One is committed to his party’s ideology but seems to possess the personal mettle to withstand a crisis.  The other has spurned his party’s ideollogy and has no practical experience in dealing with tough situations with any kind of personal fortitude.

It will take a Depression to get the Democrats to focus on what is important.

Here is the link to the FSA-OWI site at the Library of Congress with more pictures of the Depression because those who do not remember the past are doomed to repeat it.

The Sense of the Species

I’ve been in touch with various PUMAs lately and I’ve been told that the media pays attention to our various blog posts (BTW, we can be reached at theconfluence08 at yahoo dot com.  We don’t bite- hard.)  It’s time we discussed what is going on in the hearts and minds of some of the PUMAs around the PUMAsphere.

Before we get started, let’s get one thing straight: most PUMAs are over the anger stage.  Now, they are responding with cold blooded pragmatism.  They have one goal- to be absolutely certain that Barack Obama is defeated.  Contrary to popular Obamaphile opinion, the vast majority of us are Democrats.  Some of us are independents.  Even fewer have Republican ties.  We come in all shapes and sizes, working and professional classes, education levels, ages and genders.  Many of us are women but you would be very surprised to find out how many people on our conference calls are men.  We are NOT Reagan Democrats.  We’d really appreciate it if the media would stop trying to pigeon hole us into some model that would fit its worldview or a concept that the Obama campaign has handed them.

One of the things that sets PUMAs apart from other Democrats is our built-in BS detectors.  The other thing is that we were supporters of Hillary Clinton because we saw her as the true Democrat in the race.  We liked her stands on the issues, her ability to reach out to every voter and her grace under pressure.  But the PUMA movement is not about Hillary.  It is about us, the voters.  The Obama campaign, the DNC and the media targetted *US*, Hillary’s voters, for a peculiar brand of derision, disrespect and disenfranchisement this year.  It split the party in half, not based on any class distinctions exactly but more on some “perceived” distinctions.  The Obama supporters think they are “special”.  They are on a quest.  They are projecting their own guilt about race.  In short, they have been manipulated in a way that PUMAs have not.  And the PUMAs know that whatever is behind this split and manipulation of the Democratic party has to be stopped or voting will become meaningless.

We have limited ability to destroy the destructive elements in the Republican party but we *do* have the ability to clean our own party.  It doesn’t particularly matter to us whether the perpetrators are old stalwarts of the party, who seriously misread women who grew up at the tail end of the baby boom generation and aren’t putting up with sexist BS, or whether it is the testosterone fueled bad boyz of the Obama machine, who thought the best way to fight Rove was a Chicago style scorched earth campaign, or whether it was the 50 state strategy of the theoretically liberal, but practically stupid, Dr. Dean.  Their actions during this campaign season have been reprehensible and destructive.  They have deprived our party of almost certain victory and have sown defeat not only at the top of the ticket but now throughout the party.  For this reason, they have got to go.

The most commonly heard phrase at most PUMA get togethers these days is “cut off the head”.  That is, the primary goal is to make sure Obama and his enablers are defeated.  And half measures will not do.  If there is any possibility that a write in vote for Hillary will be given to Obama through state rules and regulations, it is being actively discouraged.  PUMAs are under no illusions as to what will happen if Obama manages to squeak out a win, however improbable that is at the moment.  Therefore, it is safe to say that PUMAs are moving increasigly towards voting for John McCain or nothing on top, depending on how their state electoral vote is likely to go.

No one should misinterpret that to mean that PUMAs agree with the Republican party in any way.  We are Democrats.  We do not share the Republican worldview of government.  However, we do not see McCain as criminally corrupt as the Bush neo-cons.  McCain does have a fairly good working relationship with Democrats.  Even so, our vote is a protest vote and not in any way an affirmation of Republicanism.  Obama trolls can save their breath.  We don’t care if you think we are being “fooled” or that our lack of education is causing us to not see what McCain is or that Roe v. Wade is in danger, yada-yada-yada.  Obama supporters had a choice to nominate a person who would have supported every thing they cared about and they let themselves be manipulated and deceived into thinking she was the devil incarnate.  Well, now you have to live with your choices.

So, that is the sense I am getting.  Many PUMAs are going McCain.  This doesn’t mean everyone.  There are still a band of us who may never be able to push that GOP button but are just as determined that Obama does not get to the White House for the reasons stated above.  Please note that race doesn’t factor into our decision.  This is all about the way the campaign was conducted, Obama’s running away from the Democratic brand, disenfranchisent of our votes, lack of “fair reflection” during the convention, particularly the roll call vote, rampant sexism in the party itself and hypocrisy when it comes to reproductive and abortion rights.

The problem is that we can not get people to concentrate on downticket Democrats. This is the most troubling and alarming aspect of the election season so far and, I, as a lifelong Democrat, I am very concerned about the trend I am seeing.  There are several reasons why downticket Democrats and the Superdelegates that sold us out should be worried:

  1. Sarah Palin has re-energized the Republican base, especially evangelicals.  The idea that Obama could ever win these people is ridiculous.  Now, they’ve got one of their own to vote for and they have no need to listen to Obama’s campaign as it attempted to replace US with them.
  2. Sarah Palin has energized many feminists.  There are many women who have come to realize that they were held hostage to the Democratic party that “claimed” to be supportive of women’s issues but when push came to shove, they shoved out the one woman who could actually substantiate that claim.  Obama showed himself willing to sacrifice our issues when he courted the evangelical vote.  The Roe v. Wade argument no longer has teeth.  There are already 5 votes on the USSC to overturn it.  No matter what happens at the federal level, abortion is not going to go away and if the parties think that there won’t be millions of women on the street protesting it if someone even dares to take us back to the 60’s, they’ve got another thing coming to them.  Let us acknowledge what Roe really is: a political tool used by both parties to inflame their base.  At this point in time, it is no longer a real player in this election cycle.  It is not nearly as important as preventing a further regression of women’s progress that has happened this election cycle.  Racism is off the table but public repudiation, humiliation and discrimination against women is all the rage this year.  The election of Sarah Palin for VP could truncate that trend and pave the way for a woman at the top of the ticket.  And when THAT happens, issues that are important to women may finally start to get the recognition that more than half of the population deserve.
  3. The tactics that the Democratic party has used against its own base has turned off a good portion of that base from voting for ANY Democrat this year.  Many PUMAs and other Democrats are not satisfied with cutting off the head.  Any Democrat that went against the wishes of their voting district and threw his/her weight for Obama at Hillary’s expense will find themselves targets in the future.  Whether or not that future will be this election cycle is debatable but there will be a good number of Democrats who will not stop with voting for McCain.  They will be voting straight Republican where there is an opportunity to punish Democrats who turned their backs on their voters for Obama.

Now, I’ve tried reasoning with some PUMAs that having one party Republican rule like we had from 2002-2006 is dangerous.  It’s very unfair to the millions and millions of innocent citizens who will be held hostage to a Republican government.  They rely on Democrats to protect social security, unemployment benefits, to pass SCHIP, to overturn the ban on stem cell research, to try to end the war, to protect our civil liberties.  Of course, it might be easier to make this argument if our Democratic Congress had actually done any of these things.  The point is that if there is a Republican in the White House, we need Democrats in the House and Senate to counteract aggressive and committed Movement Conservative Republicans.  But in this poisonous atmosphere and with the DNC rules of engagement, one party Republican rule is what we’re headed for.  Some voters cannot reconcile their consciences to vote for candidates who betrayed them at the convention.

So, there you have it.  The Democratic Party made a mess of things.  It thought it could ignore the voters.  It misread women.  It adopted Chicago style campaign tactics in violation of its own stated principles.  It installed an inexperienced, unscrupulous, yet politically naive, less than one full term Senator at its helm at the expense of one of the best candidates it’s had in 16 years.  Voters have had to live with Republicans for eight straight years and were looking for a break.  What we’re getting instead is another Republican party in the guise of a Democratic party.  We can’t have that.  So the PUMAs are going to make absolutely sure that the party apparatus that gave us Obama and his organization is destroyed.  We were hoping to make the next four years bearable by having enough downticket Dems in Congress.  But the party overplayed its hand here as well and has put the entire party at risk.

I realize that it is pointless to ask the party elders to do something about it.  They ignored us before the convention and there is no reason for them to pay any attention now.  But they deny reality at their own risk.  We are not voting for Obama under any circumstances and if there is any calculation that relies on us for his win, then the party is looking at certain defeat.  We can not make this any clearer to you.  When people tell you what they are going to do, you need to believe them.  We can no more vote for Obama than for George W. Bush.  Both are anathema to us.  Obama personifies everything we dislike about the party right now and how the party has been run.  We don’t trust Obama and this is unlikely to change in the next two months.

After the election in November, we are not going away, especially if the powers that be do nothing to prevent the loss of Congress to the Republicans.  The refusal to respect the voters is about to result in the greatest disgrace in the history of the party.  The party has a responsibility to the citizens of the country to protect the common good.  If it does nothing, it deserves all the derision and infamy that future generations will heap upon it.