Showing posts with label bailouts. Show all posts
Showing posts with label bailouts. Show all posts

Tuesday, September 22, 2009

Schizophrenic Conservatism

One of the more interesting topics that I find myself coming back to is the continuation of various protest movements that have sprung up around the country in opposition to the Obama Administration. I wrote about the paradox in these protests here, discussed how Glenn Beck's crazy hypocritical antics are fueling them here, and highlighted a video that shows the kaleidoscope of issues that are being protested here. Just when you think that all of this can't get any more confusing, it does.

Glenn Beck is going to be interviewed on CBSNews.com this evening by Katie Couric. A short clip has been released to promote this interview. Watch how Glenn Beck says that he doesn't like John McCain because he is some "progressive like Theodore Roosevelt" and how he thinks that McCain would have been a worse President than Obama or Hillary Clinton:


Watch CBS Videos Online

Astounding coming from the same guy who has devoted his show on Fox News to claiming that Obama is a Marxist and a racist. Couple that with the continued exposure of Beck as an outright hypocrite and you can't help but ask where on Earth he stand politically. For example (h/t dday), here is Beck (back when he was on CNN) talking about how Ron Paul supporters are terrorists:





Also note that in that video clip Beck says (of Ron Paul):


"It's really not the way I would go, tying in my movement with a historical terrorist attack, especially in post-9/11 America."


Beck is the same guy who started the 9/12 Project.

Here is another video (made by a Ron Paul supporter) that contains a video clip of Beck stating that he supports the $700 billion bailout that President Bush proposed as well as Beck's endorsement of the Patriot Act:





and in this clip from the other day, (can you guess what is coming?) Beck states that he was critical of Bush and "hated him" for the bailouts:





This is the guy who has been a driving force behind the tea-party and 9/12 Project protest movements that we have seen explode since President Obama took office back in January. He is a personality that literally cries on-air while delivering passionate speeches about how this country is falling apart, yet it is quite clear that what Glenn Beck believes (at least politically) shifts when he needs to attract ratings.

What Beck is promoting a brand of Schizophrenic Conservatism that has resulted in people showing up at large rallies claiming that they are against everything from health care reform to socialism to spending to illegal immigration to a "Muslim" taking over the country, etc.

Glenn Greewald weighs in on this confusion:

Increasingly, there is great difficulty in understanding not only Beck's political orientation but, even more so, the movement that has sprung up around him. Within that confusion lies several important observations about our political culture, particularly the inability to process anything that does not fall comfortably into the conventional "left-right" dichotomy through which everything is understood.

[...]

Ultimately, Beck himself is just a histrionic intellectual mess: willing to latch onto any hysterical accusations and conspiracy theories that provide some momentary benefit, no matter how contradictory they might be from one moment to the next. His fears, resentments and religious principles seem fixed, but not his political beliefs. Like the establishment leadership of both political parties, he has no core political principles or fixed, identifiable ideology. His description of himself as a "rodeo clown" might be the most perceptive thing he's ever said. Attempts to classify him on the conventional political spectrum are destined to fail, and attempts to demonize him as some sort of standard Republican bogeyman will inevitably be so over-simplified as to be false. Such efforts assume far more coherence than he possesses.

Far more interesting than Beck himself is the increasingly futile effort to classify the protest movement to which he has connected himself. Here, too, confusion reigns. In part, this is due to the fact that these "tea party" and "9/12" protests are composed of factions with wildly divergent views about most everything. From paleoconservatives to Ron-Paul-libertarians to LaRouchians to Confederacy-loving, race-driven Southerners to Christianist social conservatives to single-issue fanatics (abortion, guns, gays) to standard Limbaugh-following, Bush-loving Republicans, these protests are an incoherent mishmash without any cohesive view other than: "Barack Obama is bad." There are unquestionably some highly noxious elements in these groups, but they are far from homogeneous. Many of these people despised the Bush-led GOP and many of them loved it.

Add to all of that the fact that this anti-Obama sentiment is being exploited by run-of-the-mill GOP operatives who have no objective other than to undermine Democrats and return the Republicans to power -- manifestly not the goal of many of the protesters -- and it's impossible to define what this movement is or what is driving it.


This is exactly what we have seen in several of the videos that I have shot outside the health care protests that have taken place over the Summer. My video interview with Jim was a prime example of a protester who made several points that were loosely connected together under the umbrella of "we are being taken over by socialists."

This is not to say that some of the issues that are being voiced by protesters are not genuine. In fact, many of the issues transcend the mentality of left versus right. Many people, myself included, care about Wall Street's influence on the government, care about rampant government spending, and care about the erosion of our civil liberties. Greenwald is right to point out through these protests, the curtain has being pulled back on the countries inability to collectively analyze issues outside of the Beltway's typical "left vs. right" mentality. This mentality has certainly trickled down to the populous and end up making issues even more complicated in the long-run.

This kind of complication manifests itself when you mix legitimate concerns of citizens with interests that work hard to maintain the status quo. These interests include national media figures like Beck, the influence of party interests who are working toward the political goal of defeating Obama, and those who perpetuate so-called "facts" that end up being completely wrong. What results is more than a complete mess. What results is a movement that does not know whether they are coming or going, let alone where they stand.


This piece is crossposted here.

Tuesday, August 25, 2009

Around the Horn on the Reappointment of Federal Reserve Chairman Ben Bernanke

Let's go around the horn with the reactions to the announcement that President Obama has reappointed Federal Reserve Chairman Ben Bernanke to a second term.

Jill Lawrence:

Obama's decision and his timing bear the marks of sound political and economic strategy. First, the news is big enough that, as I mention in my column on the federal deficit, it will at least temporarily draw attention away from the mammoth deficit projections released Tuesday by the White House and the Congressional Budget Office.

Second, the choice of Bernanke -- a Republican named by former President George W. Bush -- is a reminder of Obama's promise to be bipartisan. Third, it avoids a confirmation battle in Congress. Fourth, it's hard to argue that there could be anyone more qualified or experienced at this moment in history than Bernanke, an expert on the Great Depression of the 1930s.

And fifth, it keeps intact the team that averted an economic and financial collapse and seems at this point to be leading the country out of recession. This is not to say that Congress won't have questions and warnings for the Fed chief, but while Bernanke has been faulted for not picking up on clear signals that the financial and housing sectors were headed for a meltdown, he's won praise for his performance since it happened.


Sen. Bernie Sanders (I-VT):

"As a result of the greed, irresponsibility and illegal behavior of Wall Street our country has experienced the worst economic decline since the Great Depression. Mr. Bernanke was head of the Fed and the nation's chief economist as this crisis, driven by reckless speculation, developed. Tragically, like the rest of the Bush administration, he was asleep at the wheel during this period and did nothing to move our financial system onto safer grounds. As the middle class of this country continues to shrink, we need a chairman of the Federal Reserve who is more concerned about expanding the productive economy – increasing decent-paying jobs for all Americans – than continuing to fan the flames of Wall Street greed and outrageous compensation packages.”


David Sirota:

Reappointing one of the key people A) who fell asleep at the regulatory wheel in the lead up to the financial meltdown B) who responded to the meltdown by handing over trillions of no-strings-attached taxpayer dollars to his bank industry friends and C) who has refused to let the public even know who is getting taxpayer bailout money is abominable. The idea that he showed some kind of "brilliance" or "smarts" in throwing trillions of dollars at the banking industry is positively absurd - as is the idea that his scheme has miraculously saved the economy (it ain't a shock that when you shovel trillions of dollars at banks, they will report temporary short-term profits - and those profits don't mean anything is saved for the long-term).


Paul Krugman:

Generally, I’m pleased. Bernanke has done a good job in the crisis — he’s been far more aggressive and creative than almost anyone else would have been in his place, partly because he’s a scholar of the Great Depression, partly because he took Japan’s lost decade seriously and was therefore intellectually prepared for a liquidity-trap world.

[...]

...Ben Bernanke’s performance over the past year deserves praise, and there’s nobody I’d rather have in his position. Congratulation, Ben.

Thursday, May 7, 2009

Naomi Klein on the Bailouts

Naomi Klein was on The Rachel Maddow show last night discussing the bailouts:

Tuesday, April 14, 2009

Astroturf Tea Parties

A few weeks ago I wrote about the Fox News host Glenn Beck and his recent antics during an on-air special during which he repeatedly broke into tears because he loves (and fears) for his country. Since Beck aired that special, video clips of the program have circulated around the Internet, Stephen Colbert has mocked Beck for his odd behavior, and Fox News continues their mission to be the voice of opposition to the Obama Administration.

As many of you have probably read by now, there are protests scheduled in various cities around the United States for April 15. These "tea-parties" were first conceived after CNBC host Rick Santelli floated the idea in his now infamous on-air rant. Since then people have gathered in cities across America to protest against the government bailouts, taxation, spending, and large deficits, supposedly in the spirit of the Boston Tea Party where colonists were protesting taxation without representation.

Though many of these protests claim to hold no party affiliation, there has been a common theme of railing specifically against the Obama Administration's policies with some participants echoing some of the ugly sentiments that we saw during the campaign. While it is clear that people are very angry at the Obama Administration, it is not always clear why or what alternatives are being suggested at these tea-parties. Andrew Sullivan explains:


It's a protest of the bank bailouts orchestrated by Bush and now Obama. But surely these tea-partiers understand what would happen if we didn't bail the banks out. Are they advocating letting major banks fail? Or are they advocating a Krugman-style government take-over? No idea.

...

It's a protest against tax hikes. But there have barely been any! Are they arguing that the planned return to Clinton era marginal rates is an outrage worthy of the colonists ... only months after an election in which the winning candidate ran on exactly that platform?

...

It's a protest against government debt. Yay! I will leave aside the somewhat awkward fact that Fox News and Pajamas Media barely covered the massive debt racked up by the Republicans during a period of economic growth.

Don't get me wrong, there are some people who are also angry at the Republicans for getting us into this economic mess, but as Fox News has entered the scene to actively promote these acts that stem from supposed populist anger, the situation gets more complicated and seems a bit, well...contrived.

Fox News is dispatching their anchors all around the country in order to "cover" these tea party protests and for weeks now, have gone beyond just covering the story and engaged in actively embracing and promoting these events:



In fact, yesterday Fox News host Stuart Varney even exclaimed: “It’s now my great duty to promote the tea parties. Here we go!”.

Not only is Fox News promoting these tea parties, but corporate donors are helping to fund the demonstrations. From ThinkProgress:

...the principle organizers of the local events are actually the lobbyist-run think tanks Americans for Prosperity and Freedom Works. The two groups are heavily
staffed
and well funded, and are providing all the logistical and public relations work necessary for planning coast-to-coast protests:
– Freedom Works staffers coordinate conference calls among protesters,
contacting conservative activists to give them “sign ideas, sample press releases, and a map of events around the country.”
– Freedom Works staffers apparently moved to “take over” the planning of local
events in Florida.
– Freedom Works provides how-to guides for delivering a “
clear message” to the public and media.
– Freedom Works has
several domain addresses — some of them made to look like they were set up by amateurs — to promote the protests.
– Americans for Prosperity is writing press releases and planning the events in
New Jersey, Arizona, New Hampshire, Missouri, Kansas, and several other states.

Freedom Works is an organization run by registered lobbyist and former Republican Majority Leader, Dick Armey and Americans for Prosperity is run by Tim Phillips, Ralph Reed's former lobbying partner. Is there any doubt that these organizations are actively involved in planning these "grassroots" uprisings? From the Freedom Works website:

Thank you for joining the massive movement of citizens that are opposed to the trillions of dollars in federal spending and the bailouts of Wall Street and failed businesses. With your help, we have been able to organize hundreds of Taxpayer Tea Parties across the country, from Santa Barbara, California to Amarillo, Texas, and all the way to Philadelphia, Pennsylvania. Together, as one united force for liberty, we can take our country back!

and where does the "donate" button link to if you are interested in donating to causes like the tea-party:


Your contribution to the FreedomWorks Foundation will make a real difference
in the fight for limited government and economic freedom. Thank you. I look
forward to working with you.


Sincerely,
Matt Kibbe
President and
CEO


As Jane Hamsher points out, Matt Kibbe was behind the attempt to keep Ralph Nader off of the ballot in the state of Oregon in 2004 which led to a complaint with the FEC for illegal collusion with the GOP.

So we have a supposed "grassroots" movement of people who are opposed to taxation, deficits, bailouts, and a host of other issues, who are having tea parties that are being promoted by Fox News (whose stated mission is to be the voice of opposition to this Administration) and funded by corporate lobbyists. As Paul Krugman and others have pointed out, this means that this movement is not a spontaneous grassroots uprising of the people, but an astroturf movement.
Here is an exchange that happened on Fox Business Network recently where a Think Progress editor called out Fox for promoting these tea parties. The host of the program says that there is a "big difference" in covering something and promoting something, but check out the what the host says coming out of the segment:

Thank you, panel. Excellent job. Okay. Why it’s time to party like it’s 1773. Next.

[…]


What is right though is the growing chorus of Americans that want their country and their liberties back. Anti-tax tea parties will happen all over the country Wednesday, carrying on in the American spirit that will send a message to Washington and Wall Street. … Remember, you have a right to voice your opinion and fight back.


the video: