Old topic, but: The bailout was NOT socialist.

Sometimes, I think socialism in the American dialect of English simply means something bad that somehow involves government. But reality isn't so simple, and I must make this clear: The US government is not socialist for the way it handled the financial crisis.

Wikipedia has this to say about socialism:

Socialism refers to a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society. [...]

Socialists mainly share the belief that capitalism unfairly concentrates power and wealth among a small segment of society that controls capital and creates an unequal society. All socialists advocate the creation of an egalitarian society, in which wealth and power are distributed more evenly, although there is considerable disagreement among socialists over how, and to what extent this could be achieved.

The concept of socialism is somewhat hazy, but I think this much is true: Socialists are interested in preventing the concentration of wealth and power in small pockets of society.

Think about this bailout. Money was taken from the government's coffers, money which was given to the government by taxpayers, most of whom are lower- and middle-class. This money was taken and then given to the banks that had a shitload of money but ran into severe difficulties. I'll repeat in simple terms: Money was taken from the poor and given to the rich.

Last time I checked, taking from the poor and giving to the rich promotes greater inequality between the two groups. It concentrates the wealth and economic power into the small, rich pockets of society. True, the bailout did not accomplish this horrid feat through free-market means, but I don't think that's the critical criterion. I think that socialists don't criticize capitalism per se, but rather the negative side effect that wealth and power becomes unfairly concentrated under capitalism. Any system with the same side effect, whether economic or governmental, is surely just as bad to socialists.

The bailout wasn't capitalist, but it wasn't socialist either. The best description is that it was anti-socialist.

— Athelwulf

"It was a misstatement," says Bachmann

ST. PAUL, Minn. - Republican Rep. Michele Bachmann says she regrets using the term "anti-American" while discussing Democratic presidential candidate Barack Obama's views, a remark that could threaten her re-election bid.

Listen Mrs. Bachmann, there's no doubt about whether you made the comments or not. You can go to Youtube and find the interview with Hardball. You said it, period; now, just own up to what you said. Don't try to weasel out of it.

Whether or not you were led into a trap or not doesn't matter in my opinion. What matters is that you should never have said that. Not only that, but there is the lack of foresight on your part. Not to mention the incredible stupidity it took.

Personally I'm not insulted with her generalization and slander. Why? Well because it's typical politics as usual; There's been tons of comments made by both sides, Republicans and Democrats as well. I grew up as a child who was insulted quite often, and so such petty insults roll right off. It's obvious that she didn't know what the hell she was talking about, and was just the proverbial idiot box. My main concern is whether or not whoever wins is able to measure the damage, and fix it.

I do think it's incredibly poetic that her comment (perhaps) led to about one million dollars in being donated to her opponent over the course of a few days. From what I've seen Bachmann had a 9 point lead in the polls, but with this best case scenario of shoving both feet into your mouth and pulling them out your arse - there's a possibility that she lost a part of her lead; I was unable to find a poll pertaining to the race that was recent however.

You made a mistake Mrs. Bachmann, now own up to it, like a responsible adult.


~Elindelwolf

Holding our collective breath

With the bailout only a month old, the country and the world still holds its collective breath; some are hoping, others wishing, and a few even pray that this monetary gamble will work. At times I've likened it to a stunt pulled on some Mississippi riverboat, where the maverick gambler pushes in all his chips.

I understand, as fellow blogger Athelwulf stated, that sometimes you have to suppress the forest fire before you go through and assess the damage, further clarifying how you will be preventing the catastrophe. Still, it doesn't really fix the problem in the long term.

I'm all for finding a way to stem the blood, but the bailout is not going to truly fix the issue. In my opinion congress merely slapped a band aid on a shotgun injury and called it good.

Now though, they're talking about possibly another bail out or stimulus package. Uh, folks, where is the money going to come from? If we're going to take money (i.e. "surplus")and give it to the people, and then in turn they're going to have to pay for the bail out. Well, does it seem to any of you that they really would've pulled a fast one.

I've got this analogy of a thief giving back money to the person, but in turn taking the diamond the person has in their pocket.

Time will tell.

~Elindelwolf

Aye aye aye! (Concerning Obama and Ayers)

Honestly, I don't care about Obama's association with Ayers, or Wright, or anyone else that the media, Republicans, or whoever else is freaking out about.

My concern is:

Can he do the job?

As writer Charles Pierce wrote in an article in Esquire magazine,"Someone will have to measure the wreckage. Someone will have to walk through the ruins. Someone will have to count the cost."

Can he measure the wreckage? Can he walk through the ruins? Can he count the cost?

That's my concern, not some frivolous, politically crazed association with a has-been radical.


***Sources***


Hayes, Stephen F. "McCain Goes There." The Weekly Standard. 9 Aug. 2008 .

Montonaro, Domenico. "Playing to the base ." MSNBC. Oct. 2008. 9 Oct. 2008 .

http://www.suntimes.com/news/politics/obama/902213,CST-NWS-ayers18.article

Oregon's congressional delegation and the bailout bills

Public record now exists for the members of Congress who support various bailout plans that the majority of the American public opposes. The results are fascinating. I have paid particular attention to the presidential and vice-presidential candidates, as well as Oregon's representatives and senators.

The first item of consideration is the tally of House Vote #674 for the failed bailout bill in the House this last Monday. A majority of Democrats supported it, and a majority of Republicans opposed it, but similar and very sizable percentages of representatives from both parties voted against their own party. First, the representatives who vied in the long term for their party's presidential nomination: Both Dennis Kucinich and Ron Paul voted nay. As for Oregon's representatives, Darlene Hooley and Greg Walden cast the only aye votes. Walden is the only Republican representative from Oregon, and is my representative.

Next is the Senate's 3-to-1 passage of their own bailout plan. Slightly more Democrats voted aye, including Joe Biden, Hillary Clinton, Chris Dodd, and Barack Obama. John McCain joined them. Oregon's Republican senator, Gordon Smith, who is running for re-election, voted aye. Oregon's Democrat, Ron Wyden, voted nay.

Finally, the House just recently passed the Senate's bailout bill. Democrats supported it 3 to 1. Republicans opposed it only by a slim majority. Kucinich and Paul voted nay again. Hooley and Walden voted aye again, and David Wu joined them. Earl Blumenauer and Peter DeFazio were the only Oregonian representatives to consistently vote against these bailout proposals.

To recap spring's presidential candidates' votes:

• Sen. Joe Biden (D-DE), aye;
• Sen. Hillary Clinton (D-NY), aye;
• Sen. Chris Dodd (D-CT), aye;
• Rep. Dennis Kucinich (D-OH-10), nay;
• Sen. John McCain (R-AZ), aye;
• Sen. Barack Obama (D-IL), aye;
• Rep. Ron Paul (R-TX-14), nay.

And Oregon's congressional delegation:

• Sen. Gordon Smith (R), aye;
• Sen. Ron Wyden (D), nay;
• Rep. David Wu (D-1), nay, then aye;
• Rep. Greg Walden (R-2), aye;
• Rep. Earl Blumenauer (D-3), nay;
• Rep. Peter DeFazio (D-4), nay;
• Rep. Darlene Hooley (D-5), aye.

Hope this is useful information.

— Athelwulf