MONEY IS NOT WEALTH
by A. Richard Miller
3947 visits since 080926; last updated 120412

On the eve of USA's November 2008 national election, an urgent proposal for an unsecured $700-Billion, maybe $800-Billion (would you believe, $3- or 4-Trillion?) loan to mismanaged banks and stockbrokers was generating understandable controversy. In its initial form the Bush Buddies Bailout was one more Weapon of Mass Deception. But the problem remains. What ARE reasonable goals, what are NOT, and how might a more populist government reach good ones?

Jill and I searched, asked friends, and found these links to be meaningful to us.

And some black humor...

(- Golden bullets mark items I posted recently; most-recently-published items are at the top.)


"You never want a serious crisis to go to waste. What I mean by that, is an opportunity to do things that you think you could not do before."
-Rahm Emanuel (Wall Street Journal Weekend Interview, Nov. 7th, 2008)

"Never waste the opportunities offered by a good crisis."
-Niccolo Machiavelli (Fifteenth Cent. 
Florentine writer and statesman)

US National Debt Clock, by Ed Hall

Calculated Risk (blog)

The Conscience of a Liberal (NY Times blog by Paul Krugman)



Our Country Is Ruled by Bullies And Cheats (Chuck Lorre Productions, #383, April 5, 2012)

Peak Everything (Bloomberg News, February 2012)

Made in the World, by Thomas L. Friedman (NY Times, January 29, 2012)
Yes, but now who leads, regulates fairly, and ensures public representation?

Look Out Below - The Nightmarish Decline Of The Euro Has Begun, by Michael Snyder (Economic Collapse Blog, January 6, 2012)

Havel, hero of anti-communist revolution, dies, by Karel Janicek (Associated Press, December 18, 2011)
"Truth and love must prevail over lies and hatred." -- Václav Havel (5 Oct 1936-18 Dec 2011)


Advancing Prosperity Through Debt Forgiveness, by Tyler Durden (Zero Hedge, December 2, 2011)

A Banker Speaks, With Regret, by Nicholas D. Kristof (NY Times, November 30, 2011)

OWS and the Power of Creative Protest, by Allison Kilkenny (The Nation, November 21, 2011)

Money Poster (xkcd.com #980; November, 2011)

Rep. Deutch Unveils OCCUPIED Constitutional Amendment; Bans Corporate Money in Elections and Declares Corporations Are Not People (Dem/FL; November 18, 2011)

Speech to U.S. Congressional Debt Committee, by U.S. Senator Bernie Sanders, Ind/VT (November 17, 2011)
Urging it not to propose any cuts to Social Security, Medicare or Medicaid, Sen. Sanders said:
“This country does in fact have a serious deficit problem, but the reality is that the deficit was caused by two wars - unpaid for. It was caused by huge tax breaks for the wealthiest people in the country. It was caused by a recession as a result of the greed, recklessness and illegal behavior on Wall Street. And if those are the causes of the deficit, I will be damned if we’re going to balance the budget on the backs of the elderly, the sick, the children, and the poor. That’s wrong.”.

"Graphic: European debt crisis explained", by Conrad Quilty-Harper and Daniel Palmer (The Telegraph, November 10, 2011)

"Paramilitary Policing From Seattle to Occupy Wall Street", by Norm Stamper (The Nation, November 9, 2011)

"The War On The Home Front", by Frances Fox Piven (TomDispatch.com, November 6, 2011) Be sure to read its second part, "The War Against the Poor".

"How Wall Street Occupied America", by Bill Moyers (The Nation, November 4, 2011)

19 Sad Facts About The Deindustrialization Of America, by Michael Snyder (Business Insider, November 2, 2011)

"Goldman Sachs and Occupy Wall Street's Bank: The Real Story", by Greg Palast (Nation of Change, October 28, 2011)

"Immunity and Impunity in Elite America", by Glenn Greenwald (Nation of Change, October 26, 2011) - Read the comments, too!

"Diebold voting machines can be hacked by remote control. Exclusive: A laboratory shows how an e-voting machine used by a third of all voters can be easily manipulated", by Brad Friedman (Salon, September 27, 2011)

"Stop Coddling the Super-Rich", by Warren E. Buffett (NY Times, August 14th, 2011)

"What Happened to Obama?", by Drew Westen (NY Times Sunday Review, August 6th, 2011)

"The Bad Deal", by James K. Galbraith (economist, son of John Kenneth Galbraith; Deutsche Welle, August 4th, 2011)

"Anyone Who Thinks The Debt Deal Is A Victory For America Understands Neither Economics Nor Politics", by Robert Reich (Business Insider, August 1st, 2011)

"Super Congress Getting Even More Super Powers In Debt Deal", by Michael McAuliff (Huffington Post, July 31st, 2011)

"Debt Tantrum On A Sinking Ship", by Richard Heinberg (Post Carbon Institute, July 26th, 2011)

"Wealth, Income, and Power", by G. William Domhoff (Who Rules America?, September 2005; updated July 2011)

"How The Deficit Got This Big", by Teresa Tritch (NY Times, July 23rd, 2011) - See graphs!

"Don't Blame Goldman Sachs for the Food Crisis" rebuttal by Lucas van Praag, Managing Director. Goldman, Sachs & Co. (plus a counter-rebuttal by Frederick Kaufman; May 3rd, 2011; see below)

"How Goldman Sachs Created the Food Crisis", by Frederick Kaufman (Foreign Policy, April 27th, 2011)

"The New Geopolitics of Food", by Lester R. Brown (Foreign Policy, April 27th, 2011)

"The Cost of Care" (Graphic Sociology, April 26th, 2011; graphic from National Geographic blog, Dec. 18, 2009)

"Assault on Social Spending, Pro-Rich Tax Cuts Turning U.S. into Nation 'Of the 1 Percent, by the 1 Percent, for the 1 Percent'", by Nobel Economist Joseph Stiglitz (Democracy Now, April 7th, 2011)

"Alert: Nuclear (and Economic) Meltdown In Progress" (Chris Martenson, March 16th, 2011)

"God On The Table", by Michael C. Ruppert (Collapse Network, November 1st, 2010)
"Arguably, the cause of the collapse of human industrial civilization has been a fundamental disconnect in consciousness that has led humankind to tell itself that it is exempt from the laws of physics and nature – that infinite growth is possible on a finite planet."

"Heavy in dollars, China warns of depreciation", (Reuters, September 2nd, 2010)

"This Is Not a Recovery" by Paul Krugman (NY Times, August 27th, 2010)

"Ask Not Whether Governments Will Default, but How", by Arnaud Mares (Morgan Stanley, August 26th, 2010)

"Copenhagen's Hidden Agenda: The Multibillion Trade in Carbon Derivatives", Washington's Blog, (Centre for Research and Globalization, November 8th, 2009)

"How Did Economists Get It So Wrong?", by Paul Krugman (NY Times, September 2nd, 2009)

"Goodbye, GM" ...a letter from Michael Moore, (MichaelMoore.com, June 1st, 2009)

"Builders & Titans: Bernie Madoff", by Michael Moore (The 2009 TIME 100, May 1st, 2009)

"We the People" to "King of the World": "YOU'RE FIRED!" ...a letter from Michael Moore, (MichaelMoore.com, April 1st, 2009)

"Oh, What a Lovely Class War!", by Michael Winship (Bill Moyers Journal, March 13th, 2009)

"Sold Out: How Wall Street and Washington Betrayed America", by Robert Weissman and Harvey Rosenfield (Wall Street Watch, March 4th, 2009)

"A Proven Framework to End the US Banking Crisis Including Some Temporary Nationalizations" (Adam S. Posen, Peterson Institute for International Economics; Testimony before the Joint Economic Committee of the US Congress hearing, “Restoring the Economy: Strategies for Short-term and Long-term Change”; February 26th, 2009)

Recovery.org (U.S. Government, February 24th, 2009)

"Taking Apart the $819 billion Stimulus Package" (Washington Post, February 1st, 2009)

"Orlov: Russia Was Better Prepared for Collapse than the U.S.", by Dmitry Orlov (TruthNews.us; January 16th, 2008, originallly published December 4th, 2006)

"China factory output dips further" (BBC News, January 4th, 2009)

"A guide to the credit crunch", audio slideshow (6 minutes) by BBC's Business Editor Robert Peston (BBC, January 1st, 2009)

"Protectionist dominoes are beginning to tumble across the world", Ambrose Evans-Pritchard (Telegraph, Dec. 22nd, 2008)

"Madoff: The man who sold the world", by Rupert Cornwell (Independent, Dec. 21st, 2008)

"Revving China's auto industry", by Peter Day (BBC News, Dec. 13th, 2008)

"Senate to Middle Class: Drop Dead ...a message from Michael Moore" (MichaelMoore.com, Dec. 12th, 2008)

"Automakers fail to cash in on big GOP donations", by Ken Bensinger (LA Times, Dec. 12th, 2008)

"White House, Democrats Near Short-Term Deal For Automakers; Loans to Carry Firms to March", by Lon Montgomery and Kendra Marr (Washington Post, Dec. 6th, 2008)

"Saving the Big 3 for You and Me ...a message from Michael Moore" (MichaelMoore.com, Dec. 3rd, 2008)

"Baltic Dry Index Falls 93%; Are We Heading into a Global Recession or Possibly a Worldwide Depression?", by Nick DuBay (Associated Content, Dec. 1st, 2008)

"Sync, and Swim Together", by Daniel Kahneman and Andrew Rosenfield (NYTimes, Nov. 24th, 2008)

"Colossal Financial Collapse: The Truth behind the Citigroup Bank 'Nationalization'", by F. William Engdahl (Global Research, Nov. 24th, 2008)

"Systemic Risk, Contagion and Trade Finance - Back to the Bad Old Days", by London Banker (RGE Monitor, Nov. 14th, 2008)
 
"A Credit Crisis or a Collapsing Ponzi Scheme? The Two Trillion Dollar Black Hole", by Pam Martens (Counterpunch, Nov. 13th, 2008)

"Financial Crisis: Washington's $5 Trillion Tab", by Elizabeth Moyer (Forbes.com, Nov. 12th, 2008)

"Failing Like Japan", by Bill Mann (Motley Fool, November 11th, 2008)

"US Taxpayers Violated; The Looting Operation Continues", by Chris Martenson (Financial Sense University, Nov. 11th, 2008)

"The First 100 Days" (The GOOD Sheet, Nov. 6th, 2008)

"This Is Not The End Of Capitalism", by Mark Shuttleworth (Here Be Dragons, Nov. 4th, 2008)

"Hedge Fund Manager: Goodbye and F---- You", by Matthew Malone (Portfolio.com, Oct. 17th, 2008)

"It's a Solvency Problem, Not a Liquidity Problem", by Mark Shuttleworth (Here Be Dragons, Oct. 9th, 2008)

"Taking Hard New Look at a Greenspan Legacy", by Peter Goodman (NY Times, Oct. 8th, 2008)

"Europe Struggles for a Response to the Bank Crisis", by Andrew Purvis (Time, Oct. 7th, 2008)

"Why the $700 Billion Isn't Helping", by Jeremy Caplan (Time, Oct. 7th, 2008)

"There were still aspects of this package that I didn't like.", by Senator Barbara Boxer (Calculated Risk blog, Oct. 4th, 2008)

"Here's How to Fix the Wall Street Mess", by Michael Moore (MichaelMoore.com, Oct. 1st, 2008)

"Congresswoman Kaptur Votes Against Bill To Bail Out ‘Reckless’ Wall Street" (Sept. 30th, 2008)

"Congratulations, Corporate Crime Fighters! Coup Averted for Three Days!", by Michael Moore (MichaelMoore.com, Sept. 30th, 2008)

"Shocked the Bailout Plan Failed? You Shouldn't Be.", by Robert Zimmer (Sept. 29th, 2008)

"The Rich Are Staging A Coup This Morning", by Michael Moore (MichaelMoore.com, Sept. 29th, 2008)

"A Shattering Moment in America's Fall from Power", by John Gray (The Observer, Sept. 28th, 2008)

"Is this the United States Congress or the board of directors of Goldman Sachs?”, by Congressman Dennis Kucinich (US House of Representatives, Sept. 28th, 2008)

"Last Chance for the Truth", by Martin Weiss (Money and Markets, Sept. 28th, 2008)

"The Bailout: What's At Stake", by Chris Isidore, senior writer (CNNMoney.com, Sept. 26th, 2008)

"Proposed $700 Billion Bailout Is Too Little, Too Late to End the Debt Crisis; Too Much, Too Soon for the U.S. Bond Market", by Martin Weiss and Michael Larson (Weiss Research, Inc., Sept. 25th, 2008)

"Real reform or nothing", by Congresswoman Marcy Kaptur (US House of Representatives, Sept. 25th, 2008)

"The 'Oracle' Speaks: Listen Up, Hank", by Jeff Matthews (blog, Sept. 24th,
2008)

"Our Federal Economy", by George Will (Washington Post, Sept. 24th, 2008)

"Main Street Before Wall Street", by David Korten (Yes! Magazine, Sept. 24th, 2008)

"Stocks and Stockbrokers", by Paul Lutis (Lutus website, June, 2008)

"Living Wealth: Better Than Money", by David Korten (Yes! Magazine, Fall 2007)

"Orlov: Russia Was Better Prepared for Collapse than the U.S.", by Dmitry Orlov (TruthNews.us; Jan. 16th, 2008, originallly published Dec. 4, 2006)

"CyberInsecurity: The Cost of Monopoly", by Dr. Daniel Geer and others (Computer & Communications Industry Association, Sep. 27th, 2003):
In free market economies as in life, some failure is essential; the “creative destruction” of markets builds more than it breaks. Wise governments are those able to distinguish that which must be tolerated as it cannot be changed from that which must be changed as it cannot be tolerated. The reapportionment of risk and responsibility through regulatory intervention embodies that wisdom in action.

"Money Vs. Wealth", by David Korten (Yes! Magazine's special "Money: Print Your Own!" issue, Summer 1997).  Yes, this article was written early in the inflation phase of the now-infamous Dot-Com bubble. When will they ever learn?

"To confront the poverty of satisfaction—purpose and dignity—that afflicts us all", by Robert F. Kennedy (Remarks at the University of Kansas, Mar. 18th, 1968)



The following links offer some black humor.

The Power Pyramid: The 1%, cartoon by Unknown (Global Research, Dec. 1, 2011)

"The Ten Stupidest Objections to the Occupy Wall Street Movement", cartoon by Barry Deutsch (Nov. 14th, 2011)

"Wall Street Demonstrators/Wall Street Bankers", cartoon by Steve Sack (Oct. 5, 2011)

Cartoons: Here's What The World Thinks About America's Political Crisis (Business Insider, Aug. 4, 2011)

Bailout Cartoons (www.cartoonstock.com)

"The Government Can", by Tim Hawkins (ca. 2009)

"GM unveils its new, made-in-America bankruptcy", by Philip Maddocks (Natick Bulletin & Tab, Jun. 5th, 2009)

"Investing in the Dogbert Investment Fund", cartoon by Scott Adams (Dilbert.com, Apr. 12th, 2009)

"SapSeason", cartoon by Dave Granlund (www.davegranlund.com, Mar. 6th, 2009)
"They're too small to let succeed.", cartoon by J.D. "Iliad" Frazer (UserFriendly, Feb. 11th, 2009)

"Orlov: Russia Was Better Prepared for Collapse than the U.S.", by Dmitry Orlov (TruthNews.us; Jan. 16th, 2008, originallly published Dec. 4, 2006)

"Santa Claus Bailout Hearing" (National Lampoon, Dec. 18th, 2008)

"Financial Bailout Explained" (YouTube, Nov. 19th, 2008)

"Detroit Rescue Attempt", cartoon by Dave Granlund (www.davegranlund.com, Nov. 13th, 2008)

"I went as the stock market.", cartoon by J.D. "Iliad" Frazer (UserFriendly, Nov.1st, 2008)

"The markets are crashing!", cartoon by J.D. "Iliad" Frazer (UserFriendly, Oct. 15th, 2008)

"Congress & Bailouts", cartoon by Dave Granlund (www.davegranlund.com, Sept. 23rd, 2008)

"Keeping Fannie & Freddie Afloat", cartoon by Dave Granlund (www.davegranlund.com, Sept. 8th, 2008)

"McCain asks Congress for a bailout of his bankrupt straight-talk image", by Philip Maddocks (Natick Bulletin & Tab, Sept. 26th, 2008)

Hank Paulson's 419 Nigerian-spam bailout letter (Sept. 22nd, 2008)

"Four Prominent Bastards", song by Ogden Nash (written 1941 for the Gridiron Club):
I remember Pappy telling me, "Boy, rapin' is a crime
 
Unless you rape the voters, a million at a time."

Other suggestions? backhome


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