Third Party & Independents Archives

Ship Of State Listing - Ship Of Fools, As Trump Would Say

Harold Meyerson wrote his last oped for the WP at the end of Dec. His article takes a swing at inequality as he touts, “the evisceration of the American middle class at the hands of the American rich.” As a 3rd party wannabe his article hit home with me.


While I've been firing away at politicians for the last 4 or 5 years, Harold makes so many good points and based on fact, making me want to quote him profusely.

"Follow the money", he says. In 1970, middle-income households claimed 62% of all personal income while upper income claimed 29%. In 2014 the middle had decline to 43% while the top had soared to 49%

In the early 70's the wealthiest 0.1% had 3% of US personal income. Currently, they are knocking down 12%.

He cites technical innovation and globalisation as drivers but puts the major emphasis on change in the corporate mission. He relates that corporations used to invest earnings in expansion, research and higher wages. Now, most all income goes to shareholders and executives. An MIT economics professor has documented that the 500 highest-paid executives received 76% of their income in stock-based compensation between 2006 and 2014. Corporations listed on the S&P500 each year, between 2005 and 2014, gave 36% of their profits to share buybacks, which had been negligible before 1982. That year the Regan admin adopted rule 10b-18 that now holds corporations harmless from allegations of stock-price manipulation through share buybacks. The rule primarily forbids the data collection needed to determine if stock prices are being manipulated.

Says Harold, "the rise of corporate rewards to shareholders at the expense of all other endeavors, the concomitant rise in wealth and political power of an investor class grown fat on extracting funds from productive enterprises rather than facilitating further investment by those enterprises justify the rules repeal."

More frequently I'm seeing responsible folks talking up corporatism/corpocracy as the elephant in the tent. In today's WP William Samuel opines in a letter to the editor, "the lack of a majority vote requirement and the ability of the super-wealthy to dominate politics have allowed for two-party control and for consensus on many key issues in the political class, while the majority of members of both parties disagree in vain. In more democratic systems, third parties open the political system, allowing new ideas to flourish. Meanwhile, our system continues to degenerate and serve the people less and less well."

Ain't it so that I have blogged here for several years that the economy was going down for the long term, wages would fall, and so on - - -

Contributing factors were/are globalisation, immigration, loss of sovereignty, big gov't, unsustainable debt and so on - - -

Today we hear that the WTO has "told' the US that it must rescind rules protecting the labeling of foreign meat products as to source. Otherwise, Canada and others are ready to sue the US bigtime. Wasn't it a few years back that the US increased cotton subsidies to producers at taxpayer expense. Brazil sued through the WTO and the US is paying off a big fine awarded to Brazil by the WTO. No secret that the WTO is a product of, founded by and supported by, corpocracy.

Tucker Eckels(?) recently said something to the effect that; of course immigration has a detrimental effect on jobs but politicians can't say that.

So, on to the stage with Trumpism, a straight talker. Word from the media is that Donald's base is made up of angry, poor people who don't vote. We'll see. Maybe not this year or for the next several years but, there will come a time when a 3rd party finds its footing.

For the interim - - Run Trump Run !!

Otherwise, we have the corpocracy we deserve.

Posted by Roy Ellis at January 3, 2016 8:39 PM
Comments
Comment #401675

Roy imagine my surprise when you gush over an avowed democratic socialist. But then I understand why you are so taken with him, he uses facts to make “so many good points”. I ask you this, can you name one conservative writer who can match the standard of facts when discussing these issues Mr. Meyerson has focused on? Yet you tell us about Trump instead of Sanders! The same Trump who proudly tells us he has used his money to buy influence with politicians before he decided to become one.

Posted by: j2t2 at January 3, 2016 10:10 PM
Comment #401676

j2, I’m certainly not looking to Trump as some kind of savant or savior for our political system. Trump may very well be a straw man for the dems. Possible he could get the nomination and then throw the ball to Hillary. In the past he has been a big supporter of the dems.

He might win the nomination and spend 4 years at war with the corpocracy. I don’t believe any one person is so naive to believe that Trump could get any of his straight talk pushed thru as legislation.

Currently, Trump is acting as THE foremost anti-establishment, anti-corpocracy candidate running, IMO. And, he has mentioned the possibility of a 3rd party a couple of times.

Trump has the money to really get into the Clinton Foundation. IMO, he would make no worse or no better president than those that have gone before. At best, he might become a thorn in the rear end of the corpocracy.

Noted on CNN’s show on Steve Jobs that Apple was charged with back dating stock options and making them available to their executives. I think the attorney general gave him a firm talking to, or something like that.

Otherwise, we have the corpocracy we deserve.

Posted by: roy ellis at January 3, 2016 11:11 PM
Comment #401699

Roy, I like this…”Ship Of Fools” reference. And, we have Captain Courageous at the helm. He’s the “lead from behind” kind of guy.

American prestige, American military might, and American citizens have all suffered under this fool

Posted by: Royal Flush at January 4, 2016 7:30 PM
Comment #401705

Royal, where you been hiding? Your comment would have been truthful had you written it during the GWB administration.

Posted by: j2t2 at January 5, 2016 12:38 AM
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