Posted by: quiscus | November 5, 2010

November 5, 2010

1.  “Wartime Prosperity

Higgs concedes that “officially measured GDP soared during the war. Examination of that increased output shows, however, that it consisted entirely of military goods and services. Real civilian consumption and private investment both fell after 1941, and they did not recover fully until 1946. The privately owned capital stock actually shrank during the war…It is high time that we come to appreciate the distinction between the government spending, especially the war spending, that bulks up official GDP figures and the kinds of production that create genuine economic prosperity. As Ludwig von Mises wrote in the aftermath of World War I, ‘war prosperity is like the prosperity that an earthquake or a plague brings.’”

 

When I asked Higgs for his reaction to Broder’s column, he said, “if you mix one part historical superficiality, one part economic confusion, and one part sheer immorality, you get the combination that qualifies a journalist to become known as the dean of the Washington press corps.”
http://www.antiwar.com/blog/2010/11/04/wartime-prosperity/

2.  “The Democrats Prepare to Move Right

Obama also promised to “negotiate” with Republicans over the Bush tax cuts, energy, and education policies.

Social Security is an additional area that Obama has agreed to negotiate with the Republicans. Obama’s bipartisan Deficit Reduction Commission purposely waited for the midterm elections to end before it announced its recommendations, which will reportedly include cuts to Social Security and Medicare.

Both Republicans and Democrats are set to unite in attacking Social Security, in the same way they have united over the Bush/Obama wars; the Bush/Obama bank bailouts;  the Bush/Obama destruction of civil liberties; the Bush/Obama education policy; and the Bush/Obama general favoritism of corporations over working people.

Both parties agree that the U.S. deficit is a more severe problem than creating jobs. They will thus unite to reduce the deficit by cutting or destroying valuable social services to working people, including Social Security, Medicare, public education, and other federally funded programs.   This is their only option, since both parties agree that raising taxes on the rich and corporations or cutting military spending are “off the table”.

These bi-partisan, anti-worker policies will further expose the Democrats as being extensions of the very wealthy and the corporations. ”

http://globalresearch.ca/index.php?context=va&aid=21776


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