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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 67,645

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The 1 Percent’s Problem & The “Be Selfish” Solution - Joseph Stiglitz

The 1 Percent’s Problem
Joseph Stiglitz
Vanity Fair
May 31, 2012

…The “Be Selfish” Solution

Many, if not most, Americans possess a limited understanding of the nature of the inequality in our society. They know that something has gone wrong, but they underestimate the harm that inequality does even as they overestimate the cost of taking action. These mistaken beliefs, which have been reinforced by ideological rhetoric, are having a catastrophic effect on politics and economic policy.

There is no good reason why the 1 percent, with their good educations, their ranks of advisers, and their much-vaunted business acumen, should be so misinformed. The 1 percent in generations past often knew better. They knew that there would be no top of the pyramid if there wasn’t a solid base—that their own position was precarious if society itself was unsound. Henry Ford, not remembered as one of history’s softies, understood that the best thing he could do for himself and his company was to pay his workers a decent wage, because he wanted them to work hard and he wanted them to be able to buy his cars. Franklin D. Roosevelt, a purebred patrician, understood that the only way to save an essentially capitalist America was not only to spread the wealth, through taxation and social programs, but to put restraints on capitalism itself, through regulation. Roosevelt and the economist John Maynard Keynes, while reviled by the capitalists, succeeded in saving capitalism from the capitalists. Richard Nixon, known to this day as a manipulative cynic, concluded that social peace and economic stability could best be secured by investment—and invest he did, heavily, in Medicare, Head Start, Social Security, and efforts to clean up the environment. Nixon even floated the idea of a guaranteed annual income.

So, the advice I’d give to the 1 percent today is: Harden your hearts. When invited to consider proposals to reduce inequality—by raising taxes and investing in education, public works, health care, and science—put any latent notions of altruism aside and reduce the idea to one of unadulterated self-interest. Don’t embrace it because it helps other people. Just do it for yourself.

much more:

'Fox And Friends' Anti-Obama Video Could Double As GOP Ad (Fed Elec Commission Should Be Notified!!)

'Fox And Friends' Anti-Obama Video Could Double As GOP Ad [UPDATE: Fox News Issues Statement] (VIDEO)

"Fox and Friends" aired a remarkable four-minute video on its Wednesday show.

The video, which the hosts of the show advertised as taking a "look back" at President Obama's four years in office, could easily be mistaken for a Republican attack ad. It was aired multiple times throughout the show. (UPDATE: Fox News later issued a statement disavowing the ad and attributing it to an associate producer. See the statement below.)


UPDATE: Bill Shine, the executive vice president for programming at Fox News, issued a statement about the video on Wednesday afternoon.

"The package that aired on 'Fox & Friends' was created by an associate producer and was not authorized at the senior executive level of the network," Shine said. "This has been addressed with the show’s producers.”

Fox News later confirmed that the video had been removed from both its main website and the network's aggregation site, foxnation.com.


Fox's Anti-Obama Attack Ad Is Nearly $100,000 In Free Advertising For GOP
May 30, 2012 3:53 pm ET by Oliver Willis

The four minute anti-Obama attack ad aired by Fox News this morning was the equivalent of $96,000 of free advertising for the Republican Party. Sources confirm to Media Matters that at the current rate of $6,000 for a 30-second ad on Fox and Friends, the cost of airing two four-minute attack ads would cost an outside group $96,000*. Fox News aired their ad at 6:45 a.m. and 8:07 a.m. during that program.

Fox is also promoting the ad at the top of their Fox Nation website as "Must-See Fox Video."

The ad has received widespread criticism. Released the day after Mitt Romney clinched the Republican presidential nomination, the ad resurrects several false and misleading economic attacks on Obama and may also violate News Corp.'s own internal ethics policy.


A complaint to the Federal Elections Committee probably wouldn't hurt, either.


JCPenney is taking on hate once again, this time in a Father's Day ad. The ad features real-life gay dads with their children and shows that, even after the Ellen controversy, the company completely stands with their LGBT customers.

Here's the (very cute, very adorable) Father's Day ad:


Breaking: Bill Clinton is finding his "comfortable shoes" to come to Wisconsin

Source: Daily Kos

DNC chair, in Wisconsin today (at last!) to back Tom Barrett in the recall election to boot out Gov. Scott Walker, announced that former President Bill Clinton is "sorting out his schedule" to try to come to Wisconsin before the election on Tuesday.

More to come, as we learn more -- I know that this is a short diary, but this is breaking news and all we know now. See: http://www.jsonline.com/...

Wasserman Schultz said former President Bill Clinton "is in the process of sorting out his schedule before next Tuesday" to come to Wisconsin.


Read more: http://www.dailykos.com/story/2012/05/30/1095935/-Breaking-Bill-Clinton-is-finding-his-comfortable-shoes-to-come-to-Wisconsin

MSNBC just confirmed

Willard is absolutely terrified of his own base - New Obama Ad Hits Mitt Romney for Embracing Trump

This spot makes the larger point that Willard is absolutely terrified of his own base, and Ron Brownstein made the same point on Sunday's This Week.

BROWNSTEIN: -- broader point, though, when Rush Limbaugh called the Georgetown student a slut, Romney was almost silent. Rick Santorum said Kennedy made him want to throw up. Mitt Romney was silent. These were all opportunities to identify yourself as kind of a more centrist. And he's not taking it. And it is having a cost.

If you look at some of those upper middle class, socially liberal, economically moderate white voters, Obama is holding them -- especially the women -- and that is the thin margin that is keeping him on top, and I think it's a consistent challenge for Romney.

Appeasing the Teahadists and winning swing states is a difficult balancing act indeed. McCain tried to thread that needle by choosing The Quitter as his VP -- and failed.

Good luck, Willard.

Four Year-Old Church Singer Performs "Ain't No Homos Gonna Make It To Heaven" as crowd cheers

"Ain't No Homo Gonna Make It To Heaven"

A four-year old is well-tutored in the love and compassion of Jesus.

Christian Love: It's apparently an actual song and not only did they teach it to a four year-old, they proudly brought him up to the pulpit to perform it, generating whoops and a standing ovation from the congregation. Praise! Glory! Hit the link for the video http://goodlawd.com/goodlawd-kid-sings-aint-no-homos-gonna-make-it-to-heaven-in-church-video/ if you can bear it.


BIB - just for fun...

MORE FUN (well done)

Poland beekeepers kick Monsanto out of the hive, successfully ban bee-killing GM corn

(NaturalNews) A significant health freedom victory has taken place in the European nation of Poland, where all plantings of Monsanto's MON810, a genetically-modified (GM) variety of maize (corn) that produces its own built-in Bt insecticide in every kernel, have been officially banned.

The decision comes after thousands of protesters recently took to the streets in demonstration of the undeniable fact that both MON810 and the chemicals applied to it are at least partially responsible for causing Colony Collapse Disorder (CCD), the worldwide phenomenon in which entire swarms of honey bees disappear or turn up dead.

"The decree is in the works. It introduces a complete ban on the MON810 strain of maize in Poland," said Polish Agriculture Minister Marek Sawicki, who also explained to the press that pollen from MON810 appears to be responsible for further devastating the already dwindling bee population throughout the country and elsewhere.

According to reports, Poland's decision to ban MON810 makes it the first nation to formally acknowledge that Monsanto's GM corn is definitively linked to CCD. It also affirms the findings of several earlier studies that have identified a link between Bt GM crops and bee deaths, including independent research conducted by Pennsylvania beekeeper John McDonald.

Learn more: http://www.naturalnews.com/036010_Poland_Monsanto_GM_corn.html#ixzz1wMdL62pM

Mitt Romney has a bad boyfriend that he's afraid to break up with.

Why Mitt Romney Keeps Donald Trump Around


...........Trump could be infinitely more dangerous as a spurned Romney supporter than as a troublesome surrogate. Trump may be the butt of cable news jokes, but polls have consistently shown him to be the most dangerous potential third-party candidate, with a large base of sympathizers on the right. Even if he doesn’t run, the prospect of an angry Trump on cable news blasting the Republican nominee as a traitor to the cause is an indignity that Romney wants to avoid


Great Pic Of OUR President

President Obama chats in the Blue Room of the White House with author Toni Morrison, who received a Presidential Medal of Freedom yesterday.
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