Approaching crisis point for journalism and corruption – Bill Moyers talks with John Nichols and Robert McChesney

Bill Moyers, John Nichols and Robert McChesney are three of the people I admire most in the world. Here they are sitting at the same table discussing what to do about the massive corruption of our political system, specifically, the challenges faced by those who are trying to do responsible journalism to report on this travesty. These issues are discussed with precision in the latest book by Nichols and McChesney: "Dollarocracy," a stunningly sober look at the situation (I've almost finished reading it). Toward the end of this excellent video, McChesney and Nichols indicate that they are "optimists." They argue that we are at one of those acute crisis points periodically faced by Americans and thus positive change is in our grasp. The authors further argue that it is becoming apparent that we need to make the case for publicly funded journalism. This is an approach taken by many functional governments, and it was one of the cornerstones of early America, a topic discussed by Nichols and McChesney in one of their previous books.

Continue ReadingApproaching crisis point for journalism and corruption – Bill Moyers talks with John Nichols and Robert McChesney

Thinking laterally, or maybe giving up

Fascinating video lecture by Dylan Ratigan. I'm in the process of reading his recent book, Greedy Bastards: How We Can Stop Corporate Communists, Banksters, and Other Vampires from Sucking America Dry. It's an extremely well written book that succinctly explains many of the problems faced by Americans (including chapters on Wall Street and Health Care). In this video from October, 2013, however, Ratigan suggests that writing the book was a waste of time, although it might serve as a useful inventory of issues. I have a hard time believing that Ratigan believes that. Seeing him deliver his talk, and receiving several impassioned email blasts from him, it sure seems that he is still putting up a good fight, though it is a fight that will be extremely difficult to win, and maybe he is exhausted from the fight. Dylan writes (in a mass-emailing that I received today) that he wanted to tell "stories of those using distributed power to solve old problems in new ways." I'm all for grass roots action and organizing, and I do believe in the power of reframing. But to win back the country, we will also need people like the author of Greedy Bastards to identify particular issues, lay out the history and propose workable solutions. Occasionally David beats Goliath, but it's a great story because it only rarely happens. I'm wondering whether Ratigan was demoralized by the long battle, has taken refuge away from the battle, and is gearing up to get back into the game. that is my hope.

Continue ReadingThinking laterally, or maybe giving up

Capitalism vs. Free Enterprise

According to Thom Hartman, these two concepts are often confused. In fact, he urges that we ditch capitalism and embrace free enterprise:

If you ask someone like Rand Paul, he'd say somebody participating in this sort of system is a "capitalist." But the cleanest definition of a capitalist is someone who uses their money – their capital – to make more money. Some capitalists do this by investing their capital in the stock market; others do it by investing in other people's start-up businesses: they are called venture capitalists. These kinds of capitalists do play their part in our society. Sometimes, they help small businesses get off their feet. But here's what you won't hear on Fox Business or CNBC: capitalists aren't that productive and they aren't actually necessary. Many are just like Paris Hilton: they sit around on their butts by the pool all day waiting for their dividend checks to come in. They make money while contributing absolutely nothing to the rest of society. And here's the thing: free enterprise works just as well without capitalists, capitalism, or even venture capitalists. Worker-owned cooperatives are just as successful as any business backed by a massive Wall Street loan. . . . Too much capitalism is actually dangerous. All the major economic crises of the past 200 years were caused by capitalists on Wall Street trying to use their money to make more money.

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Russell Brand schools Newsnight host Jeremy Paxman

Here's the scenario: Jeremy Paxman continually tells Russell Brand that he has not right to be heard because he doesn't bother to vote. Brand explains to Paxman that voting is a farce that makes voters complicit in the rampant political/corporate corruption. Invigorating discussion that is well worth your time.

Continue ReadingRussell Brand schools Newsnight host Jeremy Paxman

Pure Ayn Rand: Not dead yet, somehow.

Matt Taibbi takes aim at an amazingly bizzare Forbes article written by Ayn Rand devotee named Harry Binswanger. I was curious about Ayn Rand back when I was 18, but I moved on. Binswanger hasn't and, in fact, has doubled down. As always, Taibbi's serious message is wrapped in entertaining prose:

It reads like an Onion piece, just hilarious stuff. I mean, Jesus, even Lloyd Blankfein himself didn't go so far as to take the "God's work" thing 100% seriously, and here's this jackass saying, without irony, that the Goldman CEO literally out-God-slaps Mother Teresa. The thing is, for all its excesses, Mr. Catyanker's piece does reflect an attitude you see pretty often among Rand devotees and Road To Serfdom acolytes. Five whole years have passed since the crash, and there are still huge pockets of these Fountainhead junkies who genuinely believe that the Blankfeins of the world are reviled because they're bankers and they're rich, and not because they're the heads of unprosecutable organized crime syndicates who make their money through mass fraud, manipulation and the shameless burgling of public treasure. In this case you have a guy who writes for Forbes, a business publication,and apparently he isn't acquainted even casually with any of the roughly 10,000 corruption cases involving Blankfein's bank.
Taibbi's article contains a succinct rundown of many of the ways Goldman Sachs actually makes money. Hint: It's not by producing goods or services helpful to ordinary Americans.

Continue ReadingPure Ayn Rand: Not dead yet, somehow.