When banks complain that regulations stifle innovation or profit potential or that business may be driven offshore, the answer may well be “so what.” The startling truth may be that the elimination of most of the financial innovations of the last 35 years would be the best job creator ever considered.
The Brotherhood, the military and the property class are increasing their stranglehold on society, but the spirit of revolution, two years on, is undiminished. The youth, women and workers have not been defeated, and they want their voices heard.
The richest 1 percent now own more than 35 percent of all of the nation’s household wealth, and 38 percent of the nation’s financial assets – including stocks and pension funds. The richest 400 Americans have more wealth than the bottom 150 million of us put together. 6 Walmart heirs have more wealth than bottom 33 million American families combined. So why are we even contemplating cutting programs the middle class and poor depend on, and raising raising their taxes?
Each August, just before the start of school, more than 1,000 drivers for the Atlantic Express school bus company gather in a lot in the shadow of Citi Field in Flushing, Queens. For the drivers, it is the event of the year, one repeated at lots all over the city, and is known simply as “the pick.”
Soon after President Obama’s second inaugural address, John Boehner said the White House would try “to annihilate the Republican Party” and “shove us into the dustbin of history.”Actually, the GOP is doing a pretty good job annihilating itself.
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