May 082012
President Obama and former French President Sarkozy, in happier times.
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OBAMA AND HIS FRIENDS LAUNCH NEW ERA OF FRANCO-AMERICAN RELATIONS WITH A LESS-THAN CONCILIATORY TAKE ON THE NEW FRENCH SOCIALIST PRESIDENT.
(Buzz Feed)
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The overwhelming defeat on Sunday of incumbent French President Nicolas Sarkozy has already sent “ripples” across the pond to America, where Sarkozy’s successor, Socialist Francois Hollande, has received a decidedly chilly reception from President Obama and his allies. Sarkozy, known by some in France as “Sarko the American,” had established close relations with Washington and Obama through a shared neo-liberal agenda of robust foreign intervention — Sarkozy was the president’s strongest partner in waging war with Libya — and economic austerity. The Obama White House had publicly assisted Sarkozy’s reelection campaign, letting him use a conversation with Obama in a campaign ad, and most in France believed Sarkozy to be virtually endorsed by Obama. The practical Socialist Hollande, having ousted the president’s overseas ally and seeking to undo much of Sarkozy’s policies, has received a sharp verbal assault from Obama’s inner circle. Rahm Emanuel, the president’s former chief of staff and current mayor of Chicago, told French journalists that Hollande does not have the “head” of a president and that, in Rahm’s “professional opinion, he did not believe the new French leader could “grow” into the position.
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“GERMAN CHANCELLOR ANGELA MERKEL HAS TO KNOW THAT THE POLITICS OF AUSTERITY HAVE SUFFERED A HUMILIATING DEFEAT.”
(The Guardian)
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These are words spoken after a stunning electoral triumph by a range of anti-austerity coalitions in Greece, swept into power by Greek voters who desired to send an unmistakable message to the political and financial establishment of Europe that their austerity agenda has failed. If austerity has not failed in practice then it has certainly failed politically, for all traces of Greek lawmakers that supported the cuts imposed on their country via European leadership led by German Chancellor Merkel were wiped out in the weekend a vote, a weekend that also saw Merkel’s fellow austerity cheerleader French President Nicolas Sarkozy defeated in France. The new political leadership in Greece has now promised to seek wholesale changes in the agreements made to confront their nation’s vast debt crisis, but Merkel and other Euro leaders say they will not budge.
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RECESSION? WHAT RECESSION? BAD ECONOMY? WHAT BAD ECONOMY? BUSINESS — AND PROFITS — HAVE NEVER BEEN BETTER FOR THE FORTUNE 500.
(Yahoo News)
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While tens of millions of Americans were out of work, incomes lagged, and the overall economy sputtered in an attempt at recovery, corporate profits at the nation’s largest and most lucrative businesses surged to record levels as corporate America “raced for glory.” The companies included in the Fortune 500 list of America’s largest corporations raked in record profits of a nearly unthinkable $1 trillion in 2011, up by nearly 20 percent from the previous year. These companies are “thriving” and enjoying record profitability even as the nation’s economy as a whole continues to struggle and the Americans who are the consumers of the products and services provided by the Fortune 500 elite stagger under the weight of painfully high unemployment. And these firms are not helping on the jobs front, despite their impressive earnings. While their profits are up well into double-digits since 2007, employment among the Fortune 500 over that time has risen by just one percent.
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IF YOU’RE BLACK OR HISPANIC, ODDS ARE VERY GOOD YOU WILL BE BARRED FROM CASTING A BALLOT THIS NOVEMBER.
(Washington Post)
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New Census data reveals a disturbing trend of shrinking voter registration among black and Hispanic Americans. Since the 2008 election, the number of African Americans and Hispanic registered to vote has plummeted by 7 and 5 percent respectively across the country, to some of the lowest levels since the days of Jim Crow during the middle of the last century. Some experts contend that the dramatic shift is due to a sour economy impacting minorities more than white voters and forcing them to move in search of jobs. But that argument is weakened by the fact that the most significant reduction in minority voter registration can be found in states that have passed rigorous new standards for voting and registration since the last presidential election. Florida has seen a double-digit drop in the number of Hipanics registered to vote since passing legislation that cracks down on organizations dedicated to registering new and minority voters.
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Obama protected us from GOP austerity. Look at the UK. They’ve gone back into a double-digit recession. If our GOP had it’s way, we’d be there as well. And they’d still find someone else to blame.
Wish we had a Socialist alternative for 2012. Someone who would run on:
1. Refunding Social Security by increasing SS tax to match payments. Forgiving the $4T we owe SS in return. Reduce US debt by 30% in one shot. Good social policy, good fiscal policy.
2. Medicare for All. Anyone and any company can buy into Medicare coverage. Companies would be required to pay 50% of person’s Medicare coverage. Medicare would be refinanced with new taxes by eliminating upper income limit and applying Medicare tax to all income. Medicare reimbursement to health care providers increased to current rates.
3. Green jobs sustainable economy. Put 10,000,000 back to work making US as energy efficient as Europe, eliminating US oil imports ($500B bonus in no more oil trade deficit) and allowing US cut military spending by 50% as no longer need for oil war capable military.
It seems to me that the people of France and Greece who have been living beyond there means for so many years are living in fantasyland. They need to accept austerity measures or face a worse outcome. I think it would be best if Greece dropped out of the EU and declared bankruptcy and had to stand on its own 2 feet.
America also need to face austerity, but Ron Paul is the only one proposing serious budget deficit cuts. Increasing taxes even on the rich who pay low tax rates is unacceptable to the American people as is deep cuts to defence and means testing social security and medicaire benefits. If the US dollar wasn’t the worlds reserve currency America would be worse off than Europe.