Viva La Revolution!

Good Morning Readers! There's a new Rasmussen national poll out that suggests only 53% of American adults believe capitalism is better than socialism. That result is extraordinary! No wonder John McCain lost the election trying to paint Barack Obama as a socialist.

It also clear now why the idiots of FOX "News" and other conservative media are beginning to look like smoke-filled echo chambers these days. The term "socialism" is finally losing some of its political punch, and they're just too stupid to realize it. I think it's a positive sign for those of us concerned about the future. Hopefully, it shows that America is evolving.

Rasmussen found that 20% of Americans say socialism is better, while 27% are not sure which is better. That sounds predictable. What is shocking are the trends. It's all about the next generation people!

Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided. That is NEW! That is NEWS! The slightly older thirty-somethings are a bit more supportive of the free-enterprise approach with 49% for capitalism and 26% for socialism. That still represents a trend away from Republicanism.

Adults over 40 strongly favor capitalism, and just 13% of older Americans believe socialism is better. Of course, they represent the heart of modern, unregulated capitalism, or Republicanism.

Personally, I consider myself a responsible capitalist. What is that? By and large it means I believe in sustainable economics, or an economy that can sustain society and all of mankind, while contributing to individual freedom and happiness. I also believe in trying to protect health, the environment, the vulnerable, and the future. Wow, what a radical I am!

Most of those protections are already in place. The missing link involves health care, and I think President Obama will handle that issue. The only "socialism" left to worry about involves the large holes in regulations left by modern Republicans. You know what I mean? The Republican deregulation that destroyed the modern economy. It's clear that we need to re-regulate the market so that it doesn't destroy itself or us. We also have to ensure a healthy, sustainable future.

As the poll suggests, most YOUNG Americans today are supportive of the idea. It also suggests most OLDER Americans, mainly Republicans (led by idiots like Bush, McCain, Palin and Romney), are way behind the learning curve. It makes you wonder if they'll ever catch-up. I wouldn't hold my breath.

I think the poll also suggests that people are changing their minds about the nature of free enterprise and what we call individual rights. The Republican free market ideal has always meant unlimited rights. I think that is less acceptable to people now. National and world resources are now seen as limited. It only makes sense that individual responsibility is more important. Free enterprise and individuals rights will pay a price. The planet and the future are now seen as vulnerable.

Free enterprise must have limits. It must be both responsible and sustainable.

Just to be clear for those on the right, I'm talking about multi-party, socially responsible capitalism. A sustainable, healthy capitalism. I'm NOT talking about a state economy, or a single-party socialistic economy. If you jump to that conclusion, you're an idiot! It would save a lot of time [in this debate] if you just accept that fact, and not try to paint me out to be some kind of anti-capitalistic, anti-democratic nut case.

It's now becoming clear that Republican-led, unregulated, free market capitalism is slowly destroying our nation, our planet, our health, and our children's future.

I think people are figuring it out. It seems the only ones denying it now are the far right, and they're beginning to look like a radical fringe group. Interestingly, if you listen to conservative media, they think the revolution is going their way. I think it's going our way - let's hope, our future depends on it. I guess we'll have to wait and see. Viva la Revolution!

Thursday's Political Rant - Michael

Political Rant: Tar and Feather George Bush, Phil Gramm, and McCain if He Wins

Hello Bloggers - The Dallas Morning News is reporting today that Phil Gramm, the author of the credit crisis along with the Republican Congress and Bill Clinton in 1999, could be a serious problem for John McCain. I think the article is a wonderfully succinct timeline of what led us to this disaster. Break out the tar and feathers people!

Excerpts: John McCain's Phil Gramm problem
"In the late 1990s, former Texas Senator and economics prof engineered financial reform. He led the effort to break down the barriers between traditional banking and investment banking. In a pure economics sense, he was right. Economies of scale, economic growth and wider markets were the byproducts. But deregulation was viewed as king and regulatory oversight became a curse word. Anyone who mentioned the need for balanced regulation was shouted down as a backer of Big Brother/ Big Government. Therein lies McCain's problem."

"Not that long ago, Gramm said the economy was sound and Americans were whiners. Now McCain -- on the day Wall Street implodes and stocks crash -- says the nation's economic fundamentals are sound. I think not."

"The late 1990s and early 2000s gave rise to the era of the Bush Administration's first Securities and Exchange Commissioner, Harvey Pitt, whose claim to infamy was his attempt to allow Corporate America police itself. He also was slow to acknowledge the depth of corporate accounting scandals, and saw no perceived conflict in conducting private meetings with former accounting clients under SEC investigation. And over the years, the SEC -- before and after Pitt -- has been budget compromised, weighed down by too many companies and not enough staff. The pushback to those abuses? Sarbanes-Oxley Act of 2002."

"I think it is telling that the SEC has not been a major player, that the Federal Reserve and Treasury are carrying the burden during this financial crisis. I will be interested in seeing how McCain plans to balance the free market with oversight without re-erecting some barriers or giving regulators more authority to proactively address pending financial threats to the economy."

(Read the whole article at: http://dallasmorningviewsblog.dallasnews.com/archives/2008/09/john-mccains-ph.html)

I posted this article because there are many debates going on about what caused the credit crisis and this week's collapse - this was a good explanation. The culprit is the 1999 Gramm-Leach-Bliley Act that deregulated the industry. The bill was passed with the overwhelming support of Republicans along with a few Blue Dog Democrats and Bill Clinton - NAFTA too, thank you Bill. Clinton and the "Dogs" claimed to support more accessible credit for the middle class, and that's what many Repubicans are now blaming everything on today. They are wrong. The law has many rules in place to guard against the disasters of the past eight years. The blame should rest purely with the Bush Administration, Phil Gramm and his Enron wife, the SEC and Harvey Pitt, and the Treasury. Of course, Alan Greenspan deserves a large chunk of it. If you wish to debate, please be sure to read the actual laws first. In the meantime, get me the tar and feathers!

Tuesday's Political Rant #3 - Michael