Political news--December & January 08-09

Bail out, Screw the automakers.
Home
Unemployment figures December 08
Somalian Pirates--the untold story
Auto Sales December
Democrats health rhetoric
Bird Flu Update
Bhutto Murder--BBC report
VIOXX Settlement
The Candidates--Michael Moore
THE SUPREME COUT'S VIEW OF JUSTICE
Madoff NASDAQ chariman bilks investors of $50 Billion
Obama supports No Child Left Behind Programme--Palast
Iceland, the first nation to need a bailout
Bail out, Screw the automakers.
GITMO JUSTICE
Bush is crying WMD again
Chavez Vote Democracy 12-5
Stem Cell Research--in the news again

s_federal_debt-gdp-gross.jpg

The Republicans in support of the policies of the organizations of globalization (IMF, World Bank, and WTO) entails an overall agenda that includes this crash.  The Republican Party though its policies of the last 30 years has demonstrate their support for globalization.  (The Democrats go down the same path, but with some differences).  The neocons (neoliberals) feel that we need to go through an economic collapse for to shed those nasty relics of the New Deal (the social safety net including unions) and (unsaid) create bargains for the globalizers.  The IMF calls this shock treatment.  Naomi Klein wrote of this in her 2008 best seller The Shock Doctrine: The Rise of Disaster Capitalism.  By collapsing the economy the globalizers can increase there domination at bargain prices (a phrased used by Greg Palast).  This has occurred in several African and South American nations.  Since the financial institutions are first in donations, our government has stepped in to bail them out, rather than disperse funds that would far more stimulate our economy—such as making loans to home owners, establishing work programs, raising unemployment and social security payments. Bomddad argues that they want to break unions.  True, but they want much more.  

 

 

The Republicans Want a Depression

Hale “Bonddad” Stewart, December 12, 2008, Huffington Post at http://www.huffingtonpost.com/hale-stewart/the-republicans-want-a-de_b_150469.html, also published From the WSJ:

A frantic, last-ditch attempt to forge a relief package for the auto industry collapsed in the U.S. Senate, dealing a giant blow to the immediate hopes of the Big Three.

Senate Majority Leader Harry Reid of Nevada suggested the $14 billion wouldn't be revisited until January. "It's over with," he said.

The talks, which appeared close to a deal several times, broke off due to a sharp partisan dispute over the wages paid to workers at the manufacturing giants.

After a marathon day of negotiations, top Democrats appeared close to a deal that would toughen the bailout package in a bid to raise Republican support, which had proved an insurmountable stumbling block. The focus of talks was on seeking commitments to restructure the industry's debt load and bring labor costs in line with wages paid by Toyota Motor Corp. and Nissan Motor Co. in the U.S., among other things.

But those talks fell apart after Republicans insisted that wages reach parity in 2009. Sen. Bob Corker (R., Tenn.), who emerged as a pivotal player this week in negotiations over the industry's future, said negotiators were close to striking a bipartisan compromise.

Democrats were willing to reach parity, but not on such a swift timetable. Mr. Reid declared talks at an impasse. "We have not been able to get this over the finish line," he said. "We have worked and worked...that's just the way it is."

This is without a doubt one of the most insane gambits possible. In case the Republicans have forgotten the general economic backdrop, let's rehash the facts. According to the BLS:

Non-farm payroll employment fell sharply (-533,000) in November, and the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. November's drop in payroll employment followed declines of 403,000 in September and 320,000 in October, as revised. Job losses were large and widespread across the major industry sectors in November.

The most generous reading of the employment numbers for the latest expansion is that 7.2 million jobs were created. Over the last three months we've lost 17.44% of those jobs. Continued weekly unemployment claims are at multi-year highs:

 

Enter supporting content here