Is This the Conversation We’ve Been Waiting For . . . Or Not?

The recent brouhaha over Newt Gingrich and Mitt Romney locking horns over Romney’s involvement [I created 100,000 jobs] at Bain Capital has raised speculation that a conversation about capitalism, the way it’s been practiced these last 30-40 years, is about to commence, a conversation that is way overdue.

The irony is that the issue has been brought to the fore by Republican candidates, none of whom questioned the blowback of leveraged buyouts [LBO] and private equity firms in the past or even whispered the traitorous phrases–crony capitalism, vulture capitalism–in public.  In fact, the centerpiece of GOP economic theory is free market fundamentalism—set the market free, unfetter business from governmental regulation and Heaven’s Gate will open.

Not quite.

There’s the 2008 meltdown to contend with, the abuses of Wall Street and a clear example that Greenspan’s ‘self-regulating’ market theory was a cruel and greedy joke.  Following the meltdown, Greenspan himself glumly admitted his worldview was incorrect.

In addition, we have plenty of evidence that the so-called Trickle-Down philosophy has not ‘raised all ships’ as heralded by the true believers but rather led to huge income disparities, flat wages and the death-rattle of the middle-class.

Yes, there is the question of globalization.  Like it or not, we have grown interconnected.  But when decisions are made purely on profit, the quicker the better, then transferring manufacturing abroad, exploiting cheap foreign labor, taking advantage of lax worker safety rules and nonexistent environmental regulations begins to make a twisted sort of sense.  So, too with trade agreements made deliberately lopsided and unfair because these ‘deals’ have no national loyalty.  Profit is king; all else is subservient.

The long-term damage is massive.  We don’t have to speculate about this.  The evidence is everywhere in our unemployment numbers [which are far worse than reported] and the slide into poverty for alarming numbers of Americans.  Add in the housing crisis, still escalating health care costs, the Gulf oil spill, endless wars, the battles over extracting oil, coal and natural gas while refusing to work on rational and workable alternative energy policies,  and .  .  .

Well, it’s enough to make your head explode.

But suddenly, the door has flown open for a conversation on what it means to be a shareholder capitalist.  The unquestioned virtue of profit over all else has begun to raise its ugly head.

For instance, what value [if any] is created for a society when money is valued above all else, valued over the welfare of fellow citizens–the sick, the disabled, even our children.  What value is maintained when corners are cut, laws rewritten, ridiculous tax policies hyped as necessary for growth and future job creation?  But the mythical jobs, positions offering a living wage, never come. What does it mean when massive profits stream only to the top tier of the population, the so-called job creators, while everyone and everything else is left to flounder?

I call it a no-value deal–a lie, a theft–the magnitude of which hollows out a society, sucks it dry.

For too long Newt Gingrich [for all his caterwauling now] and his like-minded buddies have called it the free enterprise system.  Free for whom?  Certainly not for the families who have lost their homes, seen their jobs exported and have no reasonable expectation that their own children will ever see better times.  Not with the continuation of what Dylan Ratigan has termed Extractionism, a system that takes money from others without offering anything of value, anything that actually promotes growth or improves society.  This is a system that merely fills the coffers of the Extractionists, while they play a heady game of King of the Mountain and continue to spread the folklore that this is what freedom and liberty look like.

But let’s be fair.  Mitt Romney is not the devil incarnate, nor is Bain Capital the worst of the worst.  Much of what Newt Gingrich’s SuperPac is selling to the electorate conveniently let’s Wall Street and multinational corporations off the hook.  The ads fail to mention the cushy collusion of legislators who push laws and tax breaks to keep the circle spinning.  And Washington Democrats who may be dancing the happy dance now are just as guilty of supporting the status quo, going along to get along, eagerly taking campaign donations from their own smiling Extractionists.

Is this the conversation Republicans are offering?

Sorry, no.

Rush Limbaugh has been apoplectic on the issue.  According to Limbaugh, Gingrich has ‘Gone Perot.’

So you might say that Newt now has adopted the Perot stance, because he just said it: ‘I’m gonna make sure that Romney doesn’t come out of New Hampshire with any momentum whatsoever.’ And he’s using language that the left uses, and he’s attempting to make hay with this. You know, he’s trying to dredge up and have long-lasting negatives attach to Romney [this is what’s so unsettling about this] in the same way the left would say it. You could, after all these bites, say, “I’m Barack Obama, and I approve this message.

Rudy Giuliani also weighed in.

What the hell are you doing, Newt?” Giuliani said this morning on “Fox and Friends.” “The stuff you’re saying is one of the reasons we’re in this trouble now.

This whole ignorant populist view of the economy that was proven to be incorrect with the Soviet Union with Chinese communism.

Oh yes, the ‘ignorant populist’ view that has beamed a light on business as usual.  Which btw, is not working, except for a tiny fraction of the American public.  If anything, Uncle Newt has pulled back the curtain and revealed an unsettling truth.

This might not be the full-throated conversation Americans need to engage in.  Still it’s a beginning from a most unexpected quarter, whose raison d’etre is as caught up in short-term results as are its economic principles.  Almost Occupy Wall St. in nature, the conversation is now in the open.  This is a conversation that defies Mitt Romney’s suggestion that sensitive subjects are better left to the privacy of ‘quiet rooms.’

This is the conversation of the moment.  The first word, the opening sentence.  It has just begun.


Open Thread: Stephen Colbert Enters Race for Republican Nomination

Reuters:

The Comedy Central funny man announced his intention to run for president of the “United States of America of South Carolina” at the taping of his show Thursday night and will try to compete in South Carolina’s GOP primary Jan. 21.

“I’m proud to announce I plan to form an exploratory committee to lay the groundwork for my candidacy,” Colbert said….

While Colbert won’t actually compete for the GOP nomination in the general election, this may give Republicans another option beyond Mitt Romney in a pivotal state. Every Republican presidential candidate since 1980 has won South Carolina’s primary.

“Clearly my fellow South Caroliniacs see me as the only Mitternative,” Colbert said.

The decision followed the news that Colbert is polling higher than Jon Huntsman in South Carolina–at 5%.

On tonight’s Daily Show, Colbert transferred control of his super PAC to Jon Stewart, since candidates aren’t permitted to have super PAC’s

If only he could participate in the debates!


Mitt Romney: Talk about income inequality only in “quiet rooms”

F. Scott Fitzgerald opened his short story “Rich Boy” with the following paragraph:

Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand. They think, deep in their hearts, that they are better than we are because we had to discover the compensations and refuges of life for ourselves. Even when they enter deep into our world or sink below us, they still think that they are better than we are. They are different.

Watching Mitt Romney’s campaign for the Republican nomination proves Fitzgerald’s point. Yesterday Romney was interviewed by Matt Good Morning America. Here’s the video, followed by a transcript.

Matt Lauer: When you said that we already have a leader who divides us with the bitter politics of envy, I’m curious about the word envy. Did you suggest that anyone who questions the policies and practices of Wall Street and financial institutions, anyone who has questions about the distribution of wealth and power in this country, is envious? Is it about jealousy, or fairness?

Romney: You know, I think it’s about envy. I think it’s about class warfare. When you have a president encouraging the idea of dividing America based on 99 percent versus one percent, and those people who have been most successful will be in the one percent, you have opened up a wave of approach in this country which is entirely inconsistent with the concept of one nation under God. The American people, I believe in the final analysis, will reject it.

Lauer: Are there no fair questions about the distribution of wealth without it being seen as envy, though?

Romney: I think it’s fine to talk about those things in quiet rooms and discussions about tax policy and the like. But the president has made it part of his campaign rally. Everywhere he goes we hear him talking about millionaires and billionaires and executives and Wall Street. It’s a very envy-oriented, attack-oriented approach and I think it will fail.

Never in my life have I heard a more naked expression of the conservative philosophy that the rich are better than the rest of us and that they alone should make important decisions. Romney clearly believes that we proles must be protected from the knowledge of how lowly we really are. Romney actually believes that discussions of government tax policies that make the rich richer and the poor poorer should not be discussed in public–such poor taste! These topics must only be talked about in “quiet rooms,” presumably in grand mansions where only the very rich and powerful can hear.

No doubt Romney is expressing a common opinion among those of his class. The good news is that Romney has so little self-awareness that he can’t seem to avoid expressing his elitist opinions in public. Does he think that the proles don’t watch TV? Or does he think we’re too stupid to understand what he’s saying?


The Art of Political Speak

If GOP strategist Frank Luntz is correct—The Republicans’ dilemma is all about language—then Republican candidates need a fast tutorial in word use.

Capitalism, for instance: a no-no word is number 1 on Luntz’s list of ‘Shall Nots.’

And so, The Eye of Newt’s attacks on Mitt Romney, specifically citing the immoral form of capitalism practiced by Bain Capital, how it destroys jobs, often leaving community wreckage in its wake, takes a “F” in the Frank Luntz speed course–Poisoned Words for Politicians, 101.

Free Enterprise is an acceptable phrase.  Better yet is Economic Freedom.

In an almost comical exchange between Luntz and Sean Hannity, the word-meister explained that:

The word capitalism was created by Karl Marx to demonize those people who make a profit. We’ve always talked about the free enterprise system or economic freedom.

Suddenly, they’re trying to defend something that has only 18 percent support.

OMG!  Not only are Republican candidates eating their own, but they’re using a word created by Karl Marx!  Call in the Commie Cops.  Call Phyllis Schlafly to resurrect Joe McCarthy and his goon squad.  If you want a true chuckle watch the following:

Need we mention that President Obama [of whom I’m no fan] is repeatedly referred to as a ‘socialist?’  Yet now we have Republican candidates using Marxist terms and doing what they insist Barack Obama has done: wage war against capitalism.

This is what happens when your political philosophy is sloppy and baseless, when the only attack you can muster is one both supporting and attacking your centerpiece idea: unfettered capitalism, free market fundamentalism, which leads to vulture, crony capitalism.

The kind we have right now.

Rick Perry jumped on the Gingrich bandwagon and defended his own Romney attacks as doing the frontrunner a favor by distinguishing venture capitalism from vulture capitalism.  Better to defend it now than later, the Texas word wrangler said.

Did you think Rick Perry read Greg Palast’s book Vultures’ Picnic?   I think not.

Not to be outdone by Rick Perry’s explanation, Uncle Newt offered a more startling explanation.

It’s an impossible theme [Mitt Romney’s business practices] to talk about with Obama in the background. Obama just makes it impossible to talk rationally in that area because he is so deeply into class warfare that automatically you get an echo effect.

Got that?  The Devil made Newtie backtrack, rethink his strategy.  Regrettably, it’s impossible to slam Mitt Romney with a clean conscience while Barack Obama is in the White House.

Oh, the unfairness of it all!

Just as a reminder: Uncle Newt is considered an intellectual in Republican circles!

Despite what the Newster says, his sudden reevaluation of Romney attacks could—just possibly—have something to do with the massive flack he’s received from conservative quarters.  Rush Limbaugh suggested Romney aim this barb at Gingrich over Mitt’s unfortunate ‘I like to fire people’ comment:

“Yeah, I like firing people, but I never fired a wife on her deathbed.”

Ooooo.  That hurts!

Even though I have no horse in this race, this is just too, too delicious.

If I were Frank Luntz, who made a specific point of listing the Ten Commandments of Political Speech in late November, I’d seriously consider demanding my wayward pupils stay after school to write 1000 times:

I will never use the word capitalism.  I will never say the word bonus.  And on my mother’s grave, I will never-ever utter the words: Wall Street.

The election of 2012 is stacking up to be a thing of true wonder.

Btw, did you know that Hillary Clinton received 10% of the New Hampshire vote, a write-in effort.  And yet, not a peep from the MSM.

I’m shocked, I tell you.  Positively shocked.


Thursday Reads

Good Morning!!

I’m still in shock from the realization that Willard “Mitt” Romney is most likely going to be the Republican nominee. I never thought the day would come when a candidate would appear who is more soulless, more shallow, more banal, and less prepared to be president than Barack Obama. But Romney is all those things. I don’t think he knows any more about politics or economics than Donald Trump, and he’s just as much of a blowhard. What could possess anyone to vote for him? The American experiment has truly failed when these two psychopaths are the choices to lead the nation.

I was looking forward to Newt Gingrich’s attacks on Romney’s corporate raider past, but as Minkoff Minx reported last night, someone got to Newt and told him to cool it.

Newt Gingrich on Wednesday suggested his attacks on rival Mitt Romney’s record at Bain Capital have not been rational – though a spokesman insisted Gingrich is not backing off the attacks.

Gingrich’s comment came after a voter in Spartanburg, South Carolina, told Gingrich that he believed the former House speaker has “missed the target on the way you’re addressing Romney’s weaknesses.”

“I want to beg you to redirect and go after his obvious disingenuosness about his conservatism and lay off the corporatist versus the free market,” said the voter.

Gingrich replied: “I agree – I agree with you.”

“I think it’s an impossible theme to talk about with Obama in the background,” Gingrich continued. “Obama just makes it impossible to talk rationally in that area because he is so deeply into class warfare that automatically you get an echo effect which, as a Reagan Republican it frankly never occurred to me until it happened. So I agree with you entirely.”

Gingrich, who has harshly criticized Romney for his record at Bain, seemed to be saying he cannot “talk rationally” about Romney’s record because of the way Mr. Obama frames the issue.

He sure doesn’t sound rational there. I can’t figure out what he’s even trying to say. But it sounds like he’s claiming that somehow Obama made him attack Romney. Sadly, I’m afraid we may never see that “When Romney Came to Town” video now. Rats!

According to an article in the NYT, Romney’s advisers have been “shaken by attacks” on the candidate’s record at Bain Capital.

Although the advisers had always expected that Democrats would malign Mr. Romney’s work of buying and selling companies, they were largely unprepared for an assault that came so early in the campaign and from within the ranks of their own party, those involved in the campaign discussions said.

Even as Mr. Romney coasted to victory in New Hampshire, they worry that the critique could prove more potent as the race shifts to South Carolina, where shuttered mills dot the landscape, unemployment is higher and suspicion of financial elites is not limited to left-leaning voters.

Both Iowa and New Hampshire have unemployment rates in the 5% range.

In his victory speech Tuesday night, Mr. Romney lamented that “desperate Republicans” were attacking the free enterprise system and the very notion of success.

“This is such a mistake for our party and for our nation,” he said. “The country already has a leader who divides us with the bitter politics of envy.”

That message was echoed by Mr. Romney’s surrogates and embraced by a number of influential conservatives on Tuesday, from Rush Limbaugh to Michelle Malkin and the Club for Growth.

Unfortunately, the attacks seem to have caused many conservative who were previously unenthusiastic about Romney to rise to his defense.

At conservative blog Patterico’s Pontifications, “Karl” points out that it’s a little strange that Romney’s advisers weren’t expecting this, since Republican rivals have brought the issue up in Romney’s previous campaigns. I’m curious to see how all this will play in South Carolina.

Charlie Pierce had a bit of interesting Massachusetts gossip yesterday afternoon. Apparently one of Romney’s close advisers, Eric Fehrnstrom, is also an adviser to Senator Scott Brown, who as we all know is involved in a tough reelection fight with Elizabeth Warren.

Anyway, the gossip around the Massachusetts GOP — which is a small enough group that gossip can circulate at speeds at which matter is spontaneously created — is that some people in McDreamy’s re-election campaign have begun to complain that Fehrnstrom is spending too much time with Willard and not enough with their man, who’s in a much tougher fight with Elizabeth Warren than Romney is with the assemblage of second-raters in the Republican primary. It’s hard to see how Fehrnstrom can keep both of those balls in the air at the same time and, if he can’t, my guess is that McDreamy is the loser. This will not be a good thing for that campaign.

And speaking of Liz Warren, she raised twice as much money as Brown in the last quarter.

She has just over $6 million on hand, her campaign reported this afternoon.

Warren’s overall fund-raising for those few final months of 2011 outpaced Republican Senator Scott Brown’s total for the same time period. On Monday, Brown’s campaign released figures showing that he collected $3.2 million in the final quarter of 2011 and raised a total of $8.5 million last year.

Still, Brown holds a strong advantage, having accumulated $12.8 million in his campaign account, a record amount for any Massachusetts candidate this early in the election cycle.

Michelle Obama denies that she ever had any disagreements with Rahm Emanuel, as was reported in the new book “The Obamas” by NYT writer Jodi Kantor.

Obama said in an interview that aired on CBS’s “This Morning” that she does not routinely interfere in West Wing business despite reports that she clashed with top West Wing aides and has expressed her concerns and displeasure about policy and politics through back channels.

“I don’t have conversations with my husband’s staff. I don’t go to the meetings,” she told King. “I guess it’s more interesting to imagine this conflicted situation here, a strong woman. But that’s been an image that people have tried to paint of me since the day that Barack announced — that I’m some angry black woman.”

Obama said that she and former chief of staff Rahm Emanuel “never had a cross word” — despite Kantor’s reporting that they clashed over strategy and policy during Emanuel’s tenure.

In foreign news, another Iranian nuclear scientist has been assassinated. From the Globe and Mail:

Amid escalating threats, the covert war to thwart Iran’s efforts to get nuclear weapons took an ugly – if gruesomely familiar – turn Wednesday with the murder of a young Iranian nuclear scientist on a Tehran street.

It was the fourth such reported targeted assassination in two years, adding a dangerous new element to the escalating conflict over Iran’s refusal to rein in its nuclear program or to open it to international inspection.

Wednesday’s killing in North Tehran was similar to previous attacks. Using powerful magnets, a motorcyclist attached a small delayed-action bomb to a car carrying Mostafa Ahmadi-Roshan, a nuclear scientist and university professor.

The explosion killed the 32-year-old chemistry professor, who worked at the sprawling Natanz nuclear facility, and another person in the car, reports said. The pinpoint attack focused the blast into the car during the morning rush hour.

Wonderful. Are we being pushed into another war after just beginning to extricate ourselves from Iraq? The NYT reports that the covert actions are believed by “experts” to be coming from Israel, the Iranians, probably with good reason, assume the U.S. is also involved.

Iranian officials immediately blamed both Israel and the United States for the latest death, which came less than two months after a suspicious explosion at an Iranian missile base that killed a top general and 16 other people. While American officials deny a role in lethal activities, the United States is believed to engage in other covert efforts against the Iranian nuclear program.

The assassination drew an unusually strong condemnation from the White House and the State Department, which disavowed any American complicity. The statements by the United States appeared to reflect serious concern about the growing number of lethal attacks, which some experts believe could backfire by undercutting future negotiations and prompting Iran to redouble what the West suspects is a quest for a nuclear capacity.

Both Obama and Hillary Clinton denied any U.S. involvement. Sure.

Finally, there’s a wonderful article by the late Christopher Hitchens in the new Vanity Fair: Charles Dickens’s Inner Child. I haven’t finished reading it yet, but so far I’m very much enjoying it. I love Dickens and reading the piece made me want to pick up on of his novels again soon–maybe I’ll reread my favorite one–“Our Mutual Friend.” What a great book it is!

That’s all I have for today. What are you reading and blogging about?