‘I’m Not Like Everybody Else’


And I don’t want to ball about like everybody else,
And I don’t want to live my life like everybody else,
And I won’t say that I feel fine like everybody else…

Ray Davis was writing anthems about not fitting in long before punk became fashionable. This one appeared in summer 1966 on the flip-side of “Sunny Afternoon,” but didn’t make it to America until years later when The Great Lost Kinks Album was released.

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Obama tries, but wing-nuts reject his love


No irony about the sick state of American politics is funnier than the fact that wing-nuts, no matter how far to the right Barack Obama tilts, continue to vilify him as the Great Satan of socialism and the bleeding-heart champion of the poor and unarmed.

Think about it. Our president approved the Fed’s transfer of vast sums to Wall Street banksters. He watched with apparent indifference as millions lost their jobs and/or homes because so much so-called stimulus money had gone to the banks and corporations. His record on the environment and human rights is appalling.

But the wing-nuts think Obama is a socialist who is trying to take away their guns, an absurdity that the NYT’s Timothy Egan explored yesterday:

When it became clear in the early fall of 2008 that Barack Obama, son of a Kansan and a Kenyan, would be the 44th President of the United States, many citizens rushed to their gun shops, stocked up on ammo and camo, and tried to fortify their nests with all manner of lethal weapons…

… Into the early months of the Obama presidency gun sales went though the roof. A nation of at least 200 million firearms reached for ever more, in a hurry and a frenzy.

And then, nothing. No legislation. No speeches about the ubiquity of guns in the most violent of Western democracies. Obama actually increased gun rights, signing a bill with a rider that allows people to pack loaded and concealed heat in national parks…

… There’s no serious case that President Obama is trying to take people’s guns. Guess what grade the Brady Campaign to Prevent Gun Violence gave Obama after one year in office? He got an “F” for his gun stance, or lack of same. This after the N.R.A. predicted that he would be the most anti-gun president in history..

Obama has betrayed his core supporters. He has bent over backwards to demonstrate how unsympathetic he is on progressive issues and values. He has prostrated himself to Republican uglies such as Mitch McConnell every time he should have taken a principled stand. He has abased himself and made a mockery of the New Deal in hopes of winning the love of “independents” and, yes, wing-nuts.

Obama wants to be the right wing’s new Reagan but, no matter how hard he tries, they still call him Hitler.

Posted in climate change, economic collapse, Goldman Sachs, Great Recession, liar, New York Times, Obama, Politics, The New Depression, unemployment, Wall Street | Tagged , , , , , , | 1 Comment

‘Frank’s Wild Years’


Well Frank settled down in the Valley
and hung his wild years
on a nail that he drove through
his wife’s forehead…

… he sold used office furniture
out there on San Fernando Road
and assumed a $30,000 loan
at 15 1/4 % and put down payment
on a little two bedroom place
his wife was a spent piece of used jet trash
made good bloody marys
kept her mouth shut most of the time
had a little Chihuahua named Carlos
that had some kind of skin disease
and was totally blind. They had a
thoroughly modern kitchen
self-cleaning oven (the whole bit)
Frank drove a little sedan
they were so happy

One night Frank was on his way home
from work, stopped at the liquor store,
picked up a couple Mickey’s Big Mouths
drank ’em in the car on his way
to the Shell station, he got a gallon of
gas in a can, drove home, doused
everything in the house, torched it,
parked across the street, laughing,
watching it burn, all Halloween
orange and chimney red then
Frank put on a top forty station
got on the Hollywood Freeway
headed north
Never could stand that dog

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Yo, Dad, I think it’s a hit


 

Do you hope to make her see you, fool?
Do you hope to pluck this dusky jewel?

The Doors didn’t even want to bother with “Hello, I Love You,” it was one of their first songs and they thought it was a throwaway. Jac Holzman, the head of Elektra Records, talked everyone involved into recording it after his 10-year-old son heard the band’s original demo and said, “Dad, I think that’s a hit single.”

The book to read is Follow the Music: The Life and High Times of Elektra Records in the Great Years of American Pop Culture.

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Bush, Obama rolled lucky 7s for banksters


Did anyone else see the lame TV movie Too Big To Fail, which dramatized the Fall 2008 financial crisis? If not, you didn’t miss anything honest. It was based on the book by Andrew Ross Sorkin, the NYT reporter and Wall Street apologist, and pretended to explain how and why the government loaned the banksters more than $700 billion.

It turns out that the Fed, by March 2009, had sneaked $7.7 trillion in loans to the banks. Here’s Ted Rall on what the government’s largesse did to the rest of us:

… Poor and “near poor” Americans comprise the vast majority of the uninsured, un- and underemployed, and foreclosure victims. If Bush-Obama’s 7-7-7 Plan had gone to each one of these 100 million misérables instead of Citigroup and Bank of America, the IRS would have mailed out 100 million checks for $77,700 each.

This would have paid off a lot of credit cards. Kept millions in their homes, protecting neighborhood property values. Allowed millions to see a doctor. Paid for food.

A lot of the money would have been “wasted” on new cars, Xboxes – maybe even a renovation or two. All of which would have created a buttload of consumer demand.

If you’re a “99er” – one of millions who have run out of unemployment benefits – Obama’s plan for you is 0-0-0. If you’re one of the roughly 20 million homeowners who have lost or are about to lose your house to foreclosure – most likely to a bank using fraudulent loan documents – you get 0-0-0.

If you’re a teacher asking for a raise, or a parent caring for a sick child or parent, or just an ordinary worker hobbling to work on an old car that needs to be replaced, all you’ll get is 0-0-0.

There isn’t any money to help you. We don’t have the budget. We’re broke. You can’t get the bank to call you back about refinancing, much less the attention of your Congressman.

But not if you’re a banker. Bankers get their calls returned. They get anything they want.There’s always a budget for them.

They get 7-7-7.

Footnote: I just read that Sorkin graduated from Scarsdale High School, in Westchester County, NY, one of the highest-income counties in the country. Is it any wonder he’s inclined to write from the perspective of the people who rob us?

Posted in economic collapse, fiction, finance reform bill, Goldman Sachs, Great Recession, mainstream media, Obama, Politics, The New Depression, unemployment, Wall Street | Tagged , , , , , | 1 Comment

Over there is where the Occupy camp used to be


Image by TONY WOOD


Robert Scheer links the Occupy movement to the fight against the sort of corruption embodied by the SEC:

… As Judge [Jed] Rakoff stated, the Securities and Exchange Commission has charged Citigroup with “a substantial securities fraud” in the sale of a billion dollars’ worth of toxic securities that were designed to fail and which the bank had bet against… Citigroup had already paid fines for four similar scams. The judge observed that “although this would appear tantamount to an allegation of knowing and fraudulent intent, the SEC, for reasons of its own, chose to charge Citigroup only with negligence” despite the far more serious charges called for in securities law.

The failure of the SEC or any other government agency to hold the banks accountable provides the essential justification for citizen action of the sort the Occupy movement has offered…

And this is Scheer describing the situation in downtown Los Angeles, which sounds roughly similar to the situation in my hometown, Philadelphia. Police forces in both cities wiped out highly visible Occupy encampments at the same time:

… Of course the traditional cardboard encampments of the homeless three blocks away, a sprawling and constant feature of life in downtown Los Angeles, remained undisturbed. Sanitation and safety issues are of no concern as long as such manifestations of deep societal inequality are so far from the corridors of power as to be, in effect, invisible.

Posted in City Hall, economic collapse, Great Recession, mainstream media, Occupy Wall Street, Philadelphia, Politics, The New Depression, unemployment, Wall Street | Tagged , , | 1 Comment

Bloomberg, the mayor who would be Caesar


Have I shown you my legions?

Every time this guy opens his mouth, he proves he’s not only an arrogant plutocrat but also a dangerous creep:

New York City mayor Michael Bloomberg said the New York Police Department was like his own personal military force during a speech at the Massachusetts Institute of Technology, according to PolitickerNY.

“I have my own army in the NYPD, which is the seventh biggest army in the world,” he said. “I have my own State Department, much to Foggy Bottom’s annoyance. We have the United Nations in New York, and so we have an entree into the diplomatic world that Washington does not have.”

Bloomberg was speaking about why he prefers City Hall to the White House. But later in the speech, he raised the possibility that he would seek the presidency. He claimed the executive duties performed by mayors prepared them for the White House better than other political positions.

Bloomberg recently came under rhetorical fire for the NYPD’s actions in Zuccotti Park. When police moved to evict “Occupy Wall Street” protesters, reporters were prevented from witnessing the scene and some were even arrested.

The city also closed airspace in lower Manhattan to prevent news helicopters from taking aerial footage of the police crackdown.

The human rights organizations PEN American Center and PEN International condemned the restrictions on press coverage as “an obvious abridgement of the First Amendment right of all Americans to monitor official actions that clearly carry their own First Amendment concerns.”

Imagine if the well-manicured mayor, who bought himself a third term, were actually to become president and have control over the real army.

Posted in humor, mainstream media, Occupy Wall Street, Politics, weasel | Tagged , , , | 1 Comment

Howdy, stranger. Every man for himself.


Coo coo it’s cold outside. Coo coo it’s cold
outside. Ooo coo coo. Don’t forget your mittens.
Hey Pal! How do I get to town from here? And he
said: Well just take a right where they’re going
to build that new shopping mall, go straight past
where they’re going to put in the freeway, take a
left at what’s going to be the new sports center,
and keep going until you hit the place where
they’re thinking of building that drive-in bank.
You can’t miss it. And I said: This must be the
place. Ooo coo coo.

“Big Science” is the title cut from the first album by Laurie Anderson, the New Yorker who seemed to single-handedly bring “performance art” into the mainstream in the 1980s. But it’s not about science at all. It’s about urban sprawl and self-imposed isolation and phony individualism and the other forces that have killed the sense of community in much of America.

The piece is as funny as it is scary. Anderson uses her electronic instruments to create a landscape as big and empty as a prairie, and her voice is beautifully sardonic. She makes numbness sound sexy.

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Austerity measures = medieval bleeding


Millions are protesting in Britain, and it’s no wonder — the government is making an already sick economy even sicker. Paul Krugman provides a good analogy:

… History says that a financial crisis reduces long-run growth potential if policymakers don’t limit the short-run damage it does.

And yet what’s happening in Britain now is that depressed estimates of long-run potential are being used to justify more austerity, which will depress the economy even further in the short run, leading to further depression of long-run potential, leading to …

It really is just like a medieval doctor bleeding his patient, observing that the patient is getting sicker, not better, and deciding that this calls for even more bleeding.

And the truly awful thing is that [David] Cameron and [George] Osborne are so deeply identified with the austerity doctrine that they can’t change course without effectively destroying themselves politically.

The other truly awful thing is that there are so many Americans politicians who are just as destructively reactionary as the British PM and his henchman, and working people will continue to suffer if they prevail. This is one reason why the Occupy movement in this country has to keep a high profile despite demolition of encampments by police.

Posted in economic collapse, Great Recession, Occupy Wall Street, Politics, taxes, The New Depression, unemployment, world-wide economy | Tagged , | 1 Comment

NYT, WSJ: SEC is in a quandary, not corrupt


In applauding the smackdown of the Securities and Exchange Commission regarding its $285 million penalty against Citigroup, Matt Taibbi wrote, “The [Judge Jed] Rakoff ruling shines a light on the way these crappy settlements have evolved into a kind of cheap payoff system, in which crimes may be committed over and over again, and the SEC’s only role is to take a bribe each time the offenders slip up and get caught.”

So-called objective reporters saw things differently. Edward Wyatt of The New York Times opened his news report by defending the poor, beleaguered SEC:

When a Wall Street firm trades billions of dollars of securities a day and sometimes showers seven-figure bonuses on top executives, regulators are hard-pressed to fashion a penalty that really hurts.

He added that Rakoff

added another dimension to that quandary on Monday when he told the [SEC] that he could not determine whether [its] penalty against Citigroup was adequate if he did not know what had really happened.

In other words, the SEC isn’t an integral part of the corrupt system that allows Wall Street firms to get off with a slap on the wrist, without admitting to fraud or even discussing the facts of a case in a public court. The SEC is a victim of a policy dating from the 1970s, before the Wall Street firms joined with commercial banks, effectively making them too big to police.

Wyatt quoted an SEC official’s explanation for why the agency makes secret settlements with Wall Street firms:

“We agree to settlements because they achieve for us largely everything that we could hope to get should we take the case to trial,” Robert Khuzami, the S.E.C.’s enforcement director, said in an interview this month. “I think the message is pretty clear. And the investors get their money much faster, because, as you know, lawsuits can take years.”

Which is total bullshit to anyone who believes in the rule of law, but Wyatt ended the piece without so much as a quotation from a legal expert challenging Khuzami’s feeble rationale. Nowhere in Wyatt’s article was the suggestion that the SEC might escape its “quandary” by hiring more enforcement agents and being less secretive.

The Wall Street Journal also said the SEC faced a “quandary,” but it at least noted that some legal experts think the agency “had only itself to blame by failing to provide the judge with enough information to make a decision on the proposed settlement.”

Neither the NYT or the WSJ even hinted that the SEC might be, at the very least, shirking its duty and ought to be rebuilt from the ground up. As Rakoff wrote:

… In any case like this that touches on the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives, there is an overriding public interest in knowing the truth.

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