Last week, I had suggested to the Punk that he make a series of shorter, more focused explainer videos, and find a background a bit nicer than this laundry. I'm elated by his choices here. The Concorporative™ Flag is absolutely brilliant. All Corpizens™ should have one.

I think the Punk is on his way to being a viral web standard, but I think this format can also be matured into something that might easily be a regular 2 minute featurette tacked onto someone's cable show (hint hint).  I also feel a few of those derivative bloggers are sure to start copying the concept any minute now, and that's fine, provided the content is solid. Competition, like capitalism itself, can be a good. When it's Rational.

 

This is a slug for a new primer I've been meaning to write for months.  The first article is just a way to get me motivated.

5 Myths about your taxes (Washington Post)

2. Americans are overtaxed.

In 2007, federal, state and local taxes claimed about $3.8 trillion, or 27 percent of U.S. gross domestic product. That's nearly $13,000 for every American. Two-thirds of tax revenues went to the federal government.

It may sound like a lot, but other developed countries collect even more. In 2006, taxes in 30 of the world's richest countries averaged 36 percent of GDP; only Mexico, Turkey, South Korea and Japan had tax rates lower than ours. And taxes in many European countries exceeded 40 percent of GDP because these nations offer more extensive government services than the United States does.

Read it

I don't think this will change any minds on the right.  They have no interest in facts anymore. Reality is only what someone told them it was, and which felt good for them to hear—or repeat.

Chris Hedges is one of our most important writers because he's not afraid to see that bad people produce bad outcomes, and good people wanting good outcomes have virtually no guarantee of winning in the long run of history. They're just fond of thinking that they might.

There are about 100 excerpts I could post here to entice you to read on, but this one caught my eye:

We live in a culture characterized by what Benjamin DeMott called “junk politics.” Junk politics does not demand justice or the reparation of rights. It always personalizes issues rather than clarifying them. It eschews real debate for manufactured scandals, celebrity gossip and spectacles. It trumpets eternal optimism, endlessly praises our moral strength and character, and communicates in a feel-your-pain language. The result of junk politics is that nothing changes, “meaning zero interruption in the processes and practices that strengthen existing, interlocking systems of socioeconomic advantage.”

Ok,here's one more..

The cultural belief that we can make things happen by thinking, by visualizing, by wanting them, by tapping into our inner strength or by understanding that we are truly exceptional is magical thinking. We can always make more money, meet new quotas, consume more products and advance our career if we have enough faith. This magical thinking, preached to us across the political spectrum by Oprah, sports celebrities, Hollywood, self-help gurus and Christian demagogues, is largely responsible for our economic and environmental collapse, since any Cassandra who saw it coming was dismissed as “negative.”

Read the Essay

"We can have democracy, or we can have great wealth concentrated in the hands of a few, but we can't have both." Justice Louis Brandeis

Without actually coming out and saying it, In "A flawed American political model aids China," Harold Meyerson suggests that we may soon be admitting that our current dysfunctionalism may be endemic within capitalism itself. After all, it's not like its modern variant has run for a very long time.

Today, China has emerged as a global economic powerhouse and political competitor. Unlike the Soviet Union, it does not seek to remake the world in its image, but neither is it a friend of democracy. Its booming economy — in contrast to those of the wheezing West — may be viewed as validating state industrial policy, which can help build national prosperity, but China also sees it as an endorsement of authoritarian efficiency.

All but the most fervent John Galtists, and other fictionally-assisted cheerleaders of our system's presumed strengths are starting to ask, "Does this capitalism thing really work?" What is the goal of any economic system, but to provide the basic goods, services and welfare of its people?  If the system fails in that aim, what good is the maximization of personal freedom and wealth?  Freedom to do what?  Wealth to buy what? A hedonist's nirvana at the expense of virtually everyone else? This thing is working damn well for the upper 20%.  But most everyone else is hurting, about to be hurt, or living so on the edge, that "quality of life" has now become synonymous with "net worth." And if you haven't got any of that, it's "quality of credit rating." If you lack both of those, you just don't matter.

Where's the science that says boom and bust cycles can go on for more than 140 years, or so, before the system is reduced to the very monopolistic, plutocratic, crony-capitalist manifestations that Marx predicted would be among the forces that consumed it. While we struggle to legislate the most basic economic fixes for a massively troubled system, China, now owning most of our debt and enjoying a massive economic boom, is able to show-off the benefits of their planned economy. Even when that planning is far from perfect, it's still able to make corrections and tweaks that we seem unable to even discuss, let alone implement.  And looking at the current political morass, and the complicity of the media and our governing classes in maintaining the status quo, coupled with the rapacious acidity of the social conservative and Tea Party movements, it is entirely possible that we may never fix any of it. But we sure seem destined to break it more.

Could some form of family-friendly, moderately benign autocracy, governed by some intrinsic or manufactured traditions of social justice and responsibility, without any pretense of complete freedom, actually fare better in the long run?  Might theirs, or some other form of  "social capitalism" emerge that yields a more viable and sustainable long term middle class; one in which the spirit and achievements of the all mighty individual still thrive? I've already met a few a rugged individualist entrepreneurs from China. With all that human raw material to work with, you can bet there's a lot more where they came from.

China thinks a right-leaning system that aspires to be more left, is better than a left-leaning system that is now careening to the right. Given their success, a huge number of their citizens do too. I am pretty sure that we will be pondering this question more and more, as China continues going boom, while we seem to be inventing ways to go bust.

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'The Big Short' By Michael Lewis

Probably The 'Best Piece Of Financial Journalism Ever Written'— Felix Salmon

Even if you have no intention of reading this important book by this brilliant writer, see the video of Michael Lewis appearing on the Daily Show with Jon Stewart below. See it, and then get angry about this shit. Because if you don't, they're going to do it again. And soon.

Reviews

Appearances by Michael Lewis

Related

Rob Johnson, from Roosevelt Institute, says the 300 TRILLION dollar derivatives bomb hasn't even begun to detonate yet.  Few people have this much knowledge of this complex and dangerous issue as Johnson. He was working for George Soros before the meltdown, and claims they all saw it coming and steered clear of them.  True or not, he has the knowledge of how it all works, and his tale is harrowing.

See the VIDEO, and read the general article about the overall context. Then pick up your phone and call Senator Dodd and tell that retiring corporatist to JUST FIX THIS!

 

Finance Stars Talk Of Massive Fraud in Our Economic System

Finance Superstars Talk About the Massive Fraud in Our Economic System | Economy | AlterNet
Rob Johnson of the Roosevelt Institute was the last speaker and talked about the final arbitrage, which is "too big to fail." It is the arbitrage of the republic by looters who have created a system so rife with fraud that it brought down the American economy, throwing millions out of work, paying the very perpetrators trillions of dollars and counting. These very same people bought and sold our elected officials so often in the past several decades, that today DC might very well be deemed the one functional market. You actually get what you pay for. (Alternet)

Video: Rob Johnson on Washington Journal, March 11, 2010

Click along the progress slider to get to where his segment starts. That's roughly 1:51:30