Published: Thursday, Aug. 7 2014 12:00 a.m. MDT
I recommend one and all to stream from PBS the Frontline episodes "Money,
Power and Wall Street" It's four hours worth of outstanding reporting
and analysis.It documents that the center of American capitalism is
a thoroughly corrupt banking system which is little better than a casino. It had to be rescued to save capitalism, though. Too bad. The casino is still intact and threatening.
"President Eisenhower’s preference for balancing the budget over tax
cuts...and slashing of defense budgets, warning us of a rising
"military-industrial complex"."Excellent article
illustrating that it's hard, even for conservatives, to determine
"which" conservative to follow. From Eisenhower to Reagan to Ted Cruz
is a bumpy road to travel and proof that the word conservative has been abused
by anybody with an agenda different from the liberal wing of the Democratic
Party. Why is it necessary for us to spend more than $200B every
year - not on military personnel - but on weapons and the research and
development of them. Who in the world has weapons (I'm talking about
fighter jets, submarines and tanks) as sophisticated as we do and if we just
kept those same weapons and DIDN'T spend another $200B on new weapons next
year, who would be ahead of us then? And that is just the military
industrial complex. Think of all the ways the government can stop subsidizing
business (think of Walmart's typical worker qualifying for food stamps and
subsidized housing) and start helping people that really need it. Just where
are the conservatives of today?
Wow!God bless you Prof. Mary Barker!and my the DN have the
good wisdom to see past their Neo-Con filters and keep you, better yet -
give you a raise for doing such fine work!
Amen, Mr. Stockman, Amen.It usually takes "one of your own"
to show the truth about things. Paying attention Republican/Tea Party folks?
David Stockman was against Ronald Reagans tax policy from early in Reagans first
term. That was way back around 1983. He soon left the administration and wrote
the requisite bite the hand that feeds you book. This Stockman stuff is not old
news, it's ancient history.
How dare Mr Stockman tell the emperor he has no clothes. He will now be banned
from the tent.There are so many gems in this article.Crony capitalism .... depends on sweetheart deals in the corridors of
Washington. It is only open to "those with sufficient resources
to fund campaigns, pay lobbyists "Crony capitalism means that
profits are garnered through the manipulation of power and influence rather than
through ingenuity and contributions to the real economy.Mr Stockman
hits the nail on the head. While the GOP leads in promoting and protecting this
arena, rest assured that the Democrats are willing participants and
benefactors.I am yet to see anyone who is anti capitalism.
Unfortunately, in this day and age, capitalism is anything but a free market.
It has been purchased by large corps and unions. This is what people are
against.I am still amazed that both R and D alike do not come
together in meaningful campaign finance reform and lobby reform. The
politicians wont do it on their own.Protecting and furthering Crony
Capitalism has become a platform of the GOP. Proof will follow.
Just read the comments...
"David Stockman, a former congressman and director of the OMB under
President Reagan, is disgusted with his party. "I understand
that. I'm ashamed of Republicans too.
Amen and amen.
SCfan "This Stockman stuff is not old news, it's ancient
history."Yep, and he was right then, as he is now.More
people need to be aware they aren't alone in noticing the shift away from
reality by the republicans.Might I suggest watching
"outfoxed" which will give some insight into the shift.
It's so good to see an article written in the Deseret News about
Stockman's marvelous book. It's an incredible read. Mary Barker does
an admirable job of summarizing Stockman's message. The only thing I
would add are his view of past and current chairmen of the Federal Reserve. He
has high praise for William McChesney Martin and Paul Volcker, but is merciless
in his criticism of Arthur Burns' support of LBJ's "guns and
butter" polices, as well as Alan Greenspan and Ben Bernanke for their
"too big to fail" policies and their role in turning the stock market
into a casino. Of course, there's much much more, but this article is a
good start. The book is a "must read!"
Thank you DN for continuing to publish Ms. Barker.So blame aside we
know we have a corrupt financially driven economy that produces nothing of value
just creates wealth for a few while shutting out everyone else. In addition we
have a bought and paid for Congress that not only enables this but actively
propagates it and this situation is at least three decades old. Now what?How do you convince many of the posters on this thread that kids
don't have jobs coming out of college not because Obama is a socialist but
because the emphasis of the economy is to create financial wealth not jobs. How do you fix a bought and paid for Congress when half of the country
has been convinced that the culprit for all of our woes is a single person? How do you fix an infrastructure that couldn't support an
industrial revival even if it did occur when half the nation is convinced debt
is bad, wars are good, and military spending is sacred?Just asking.
No reasonable person can deny that the American way of life is under direct
attack by those who seek to replace it with European style post Christian
socialist dogma. That is evidenced here.
Hey SCFan -"David Stockman was against Ronald Reagans tax policy
from early in Reagans first term."And he was and is absolutely
right in despising Reagan's tax policy that has done so much harm to this
nation.Reagan's trickle down economics does not work, and it
has NEVER worked.The only reason the economy rebounded during the
Reagan administration is because the price of world oil dropped to less than 1/3
of what it had been during the Carter administration. That economic rebound was
certainly not due to Reagan's tax policies.Think about it and
make comparisons. We experienced a WORLD WIDE recession back then (except for
OPEC countries), and then a WORLD WIDE economic rebound . . . That coincided
with plummeting oil prices. Attributing that economic recovery to Reagan's
policies is ridiculous.Reagan's trickle down economics has done
NO GOOD for the vast majority of America. Only a small percentage have profited
at the expense of everyone else.We need to raise taxes for high
earners back to Pre-Reagan levels ASAP.
Wouldn't it be wonderful to live in an ivory tower and pontificate about
the art of business without having ever owned a business?1. Private
businesses pay all taxes. Any government entity that pays taxes to another
government entity first has to take that money from the private industry.2. All jobs are created by private business. Without tax revenue,
there would be no government jobs. All tax revenue comes from private
business.3. All businesses require start up capital, either from
the proprietor or from stock holders, who become the owners via their
capital.4. All regulations, tax breaks, handouts, come from
government, not from business. No business can legislate itself a tax break,
bail itself out with tax payer money or give itself special favors from
government.5. Corrupt politicians disregard their sworn duty to
uphold the Constitution when they favor one business over another, when they
give special breaks to one business over another, when they sell themselves to
the highest bidder.Put blame where it belongs - on the government.
Give credit where it is due - to businesses, large and small.
There was a time when conservatives believed in policies that Stockman espouses.
That was the pre-Buckley era of the early 1950's. William F. Buckley, Jr.,
and his National Review staff hijacked the conservative movement and veered it
off into the neoconservative era, something very different from that exemplified
by "Mr. Republican" Robert Taft. Taft and Stockman would be very much in
agreement. Buckley and his acolytes are mortified (as illustrated by some
comments above). Stockman detests what neoconservatives have done to both the
Republican and Democratic parties (yes, it infects BOTH parties!). By the way,
Stockman is a strong critic of both Hoover and FDR in their handling of economic
crises in the 1930's and 1940's.
Brilliant article! Nailed it! Amen and amen!Conservatives today are
being exposed for the hypocrites that they are. They aren't against big
government and spending as long as it goes to big military industrial complex.
We need more awareness! Methinks once more people see the GOP for what they
truly are they'll lose even more elections. They'll be forced to
change, which will be wonderful.We just spend so much on weapons and
in defense it's silly! I want my country back!
Mike Richards: are you talking about Stockman or Mary Barker? Stockman is NO
ivory tower pontificate. He has learned how things work as an insider. In fact,
some call him an insider's insider! His book exposes crony capitalism down
to its rotten core. He demonstrates step-by-step how people like Mitt Romney
(the quintessential crony capitalist) obtain wealth at the expense of others
while dismantling the capitalistic system he purportedly defends. Read the book.
"5. Corrupt politicians disregard their sworn duty to uphold the
Constitution when they favor one business over another, when they give special
breaks to one business over another, when they sell themselves to the highest
bidder."You just described every politician. When they take
campaign contributions, it inevitably buys "special breaks"If we do not allow our politicians to receive ANYthing from Anyone, then we
are assured that they are not "selling themselves to the highest
bidder"Tell me Mr Richards. Would you favor that, or do you
prefer to allow them to keep getting money and HOPE that it does not corrupt
them?A judge could not preside over a case where someone had paid
him anything. Why not the same standard for our politicians?
Happy Valley HereticI suggest you watch Fox News, to see what the
left/Democrats have done and are doing in the country these days. They are not
the Democrats of Ronald Reagans era. If you are only watching the DNC (Democrat
News Channels), you are missing a lot of what is happening in our country, as
there is a big reason 75% of Americans don't think Obama is up to the job.
That by the way is polling data, not opinion.
Gary OCheck out the Laffer curve in economics. It proves that
raising taxes reaches a point where it stops economic growth. Ronald Reagan
went by that, and we had a great 80s economy. Taxes only work to a point, one
which most Democrats will take the country way beyond, which causes downturns.
That's why Reagan cut taxes, and caused more money to go into the treasury.
It is a simple principle that has been proven.
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