Yearly archives: 2013

NYTimes: Third-Quarter U.S. Growth at 4.1% Rate in New Estimate. Good News?

Underemployment BLS June 2013
Source: BLS

The economy is improving, and has been for years under President Obama.

It’s just been sluggish, and there are plenty of people out of work still. There are even more who are underemployed (above graphic is from June 2013). According to Forbes, the "official" underemployment rate does not count discouraged workers who have settled for part-time jobs, or have just given up. These people, properly tracked under what’s called the "U-6" rate, showed underemployment at 14.3% in June 2013.

So, what exactly are we to infer from the revised estimate, reported today by the New York Times, that third quarter estimates for the economy showed 4.3% growth? The NYTimes reports:

The United States economy grew at an astonishing 4.1 percent annual rate, the federal government said Friday in its third and final revision of gross domestic product for the third quarter.

The rate was the fastest in almost two years.

The Commerce Department said business spending was stronger than it originally thought, leading to the revision up from 3.6 percent. Economists had expected the final estimate of growth to be unchanged from that 3.6 percent.

According to the Times, the growth rate for quarter two was 2.5%.

So, this is good news, right?

Not so certain, given the underemployment rate and other factors. Those of us in the middle and lower are making less, therefore spending less.

Consider the rise in companies buying back their own shares of stock, to the tune of $211 billion.

Enter Robert Reich from December 17, via Facebook (emphasis added):

A big reason why CEOs are about to rake in big year-end bonuses even though their sales are lousy (after all, America’s vast middle class and poor aren’t earning enough to buy much) is CEOs been using their companies’ cash, plus whatever they can borrow at rock-bottom interest rates engineered by the Fed, to buy back their own shares of stock. This maneuver raises the price of the remaining shares, thereby giving the CEOs – whose pay is tied to share prices – huge rewards. This year, the 30 companies listed on the Dow Jones industrial average authorized $211 billion in buybacks, lifting the Dow (and CEO pay) to record heights.

This $211 billion could have gone instead to American workers in the form of higher wages – which would have come back to companies in the form of higher sales. McDonald’s, for example, spent $6 billion on share repurchases and dividends last year, the equivalent of $14,286 per restaurant worker employed by the company.

It’s a vicious cycle as long as CEO incentives are directed toward raising share prices rather than sales, and as long as the economy is organized around the stock market rather than good jobs.

Since many of our pensions were shifted to the stock market via crapshoot 401Ks, we have learned that the stock market is not a safe environment for our retirement funds to exist. Know anyone who was unable to retire because his or her 401K lost half its value or more — just when that person was planning to exit the work force?

I do. Too many, in fact.

So, yes, a 4.1% growth in the economy is good news. However, as long as the corporations are defining growth based on the stock market as opposed to job growth, most of us in America will have to wait — and work — for a paradigm shift in the outlooks of corporations.

Or, we will have to fight for it, just like we did in the early 20th century.

Let’s begin by organizing the Service Industry.

More on that to come.


From Common Dreams: Reformer or Hypocrite? Understanding Pope Francis

At first glance, Time magazine’s “Person of the Year,” Pope Francis, is a mess of contradictions. On the one hand, he has vehemently denounced the evils of global capitalism, calling it “a new tyranny.” However, as pontiff, he heads the Catholic Church, which has beencharacterized as “probably the wealthiest institution in the entire world.” And, although the pope has championed the importance of women in the Catholic Church, saying in an interview, “The woman is essential for the church. … The feminine genius is needed whenever we make important decisions,” he continues to oppose as strongly as any pope before him the ordination of women, and considers abortion to be evil. How do we make sense of Pope Francis’ views?

Read more here.


Robertson: “Miserable” Atheists Trying To “Steal” Christmas (Video)

I honestly don’t know how this man comes up with this stuff, why he’s still on television, and I really, really don’t understand the person who would take him seriously.

The video is mercifully short. Enjoy.


Get Rid of Corporate Rule! Direct TV Parody Compilation

Get rid of corporate rule!

The full campaign spoofing the Direct TV commercials, produced by Acronym TV for Move To Amend. All six spots, each about 30 seconds, are included here in this single video. 

Written by Lee Camp and Dennis Trainor, Jr, and Directed by Trainor, these spots aim to hijack a popular meme to shine a seriously unserious light on the issues of corporate personhood and money as free speech. 

Move to Amend is a coalition of hundreds of organizations and tens of thousands of individuals committed to social and economic justice, ending corporate rule, and building a vibrant democracy that is genuinely accountable to the people, not corporate interests.

We are calling for an amendment to the US Constitution to unequivocally state that inalienable rights belong to human beings only, and that money is not a form of protected free speech under the First Amendment and can be regulated in political campaigns.

Over 300,00 people have signed the Move To Amend statement that states:
We, the People of the United States of America, reject the U.S. Supreme Court’s Citizens United ruling and other related cases, and move to amend our Constitution to firmly establish that money is not speech, and that human beings, not corporations, are persons entitled to constitutional rights. 

Links to each video as a stand-alone piece are below. We encourage you to share these far and wide.

Move To Amend, Direct TV Parody Campaign:
Don’t Be A Naked Hulk http://bit.ly/1eMqmeQ
Don’t Do Interpretive Street Corner Dance http://bit.ly/IKi65g
Don’t Miss The Supermodel Love Letter http://bit.ly/19fbNwm
Don’t Get Ducked Taped To A Chair In The Yardhttp://bit.ly/1g3IG7b
Don’t Do Cats http://bit.ly/1bdJL8P
Don’t Be A Loser With No One At Your Birthdayhttp://bit.ly/18YCOI2

Move To Amend’s Direct TV Parody Compilation
Written by Lee Camp and Dennis Trainor, Jr
Directed by Dennis Trainor, Jr.
Editing, graphics, keying and color correction by AJ Russo
Associate Producer Christopher Webb
Costumes Lara de Bruijn

Corporate personhood, Supreme court, Super Bowl Ad, Super Bowl parody ad, Super Bowl spoof commercial, Douche waffle, Douche Waffles, Money free speech, corporations are not people, corporate personhood, Lee camp, Dennis Trainor Jr, Acronym TV, parody, satire, comedy, spoof, Direct TV, Move To Amend, Amend the constitution, Legalize Democracy, End Corporate Rule.


Video: Last Gay Standing (Late Show with Jon Stewart)

From the Daily Show:

Al Madrigal travels to Alabama and Mississippi to see which one of these backwoods, inbred, homophobic states will swim longest against the tide of history.  (05:44)

 


Law Enforcement Against Prohibition: Crowd-funding Campaign

We are thrilled to announce the launch of Law Enforcement Against Prohibition’s crowdfunding campaign, “Cops Lead Drug War Victims on  Journey for Peace.” 

Making use of the footage shot during 2012’s Caravan for Peace with Justice and Dignity, LEAP is producing a documentary filmabout the law enforcers who led a caravan of drug war victims across the United States in a campaign to acknowledge the devastation created by Mexico’s war on drugs. 

LEAP’s mission was to supplement the victims’ testimony with law enforcement voices bearing personal witness to the harms and wasteful futility of the War on Drugs here in the United States.

LEAP journalists Dean Becker and Sam Sabzehzar joined with filmmakers from Mexico and around the world to document the emotional testimonies of the victims and police throughout the 27-city tour, shooting more than 500 hours of unedited video.

This moving story of law enforcement coming together with drug war survivors reveals a truth about the value of ending the violence generated by drug prohibition.

We write to request your help in two ways.

1. Would you make a gift of at least $25 today to support this film’s production?  

2. Would you invite at least 10 friends to join this effort with you and make a gift by sharing the link (www.tiny.cc/leap_film)? 

We have the film. We have the story. You have the funds to help us edit, translate, score and finish a documentary that will draw attention to the grief caused by the war on drugs around the world. 

As a LEAP supporter, your contributions are truly what sustain our efforts. Please help us to complete this film and educate the public on the dire need for an end to drug prohibition. 

Thank you, 

Major Neill Franklin (Ret.)
Executive Director
Law Enforcement Against Prohibtion


Video: Jacob Hemphill of SOJA Supports Marriage Equality

Commentary

Straight ally Jacob Hemphill of reggae band SOJA voices his support for marriage equality. SOJA joins a growing list of musicians standing with the Human Rights Campaign on the right side of history. Equality Rocks!

Learn more at hrc.org/equalityrocks #EQUALITYROCKS


Fox News Contributor Sandy Rios Says Matthew Shepard Murder a ‘Fairy Tale…Total Fraud’

Never forget Matthew Shepard

Between the reality, above, and the madness, below, lie two simple truths: Matthew Shepard was viciously beaten, eventually dying on October 12, 1998.

And Fox Contributor Sandy Rios is incredibly, incredibly mean-spirited.

Here is what she said on October 11, one day before the anniversary of Matthew’s painful death:

At today’s conservative Values Voters Summit, hosted by the certified anti-gay hate group Family Research Council, Sandy Rios made the horrific claim that the story of the 1998 anti-gay hate-crime murder of Matthew Shepard “wasn’t true,” and is “a total fraud,” and a “fairy tale” used as “propaganda” by LGBT activists.

Unbelievably cruel.

If you can tolerate her unabashed lies, below is video of her comments, spoken, horribly, on the eve of the fifteenth anniversary of Shepard’s death.

He was attacked overnight on October 6–7, and taken off life support and died on October 12, 1998.

Aaron McKinney and Russell Henderson murdered Matthew Shepard. This is a matter of fact. This is a matter of public record.

Sandy Rios’ claims are cruel, rubbing salt in wounds that will never heal.

Our condolences to the Shepard family for being put through these awful, hate-filled claims, all over again.


Damn the GOP. What They’re Doing Is Unprecedented, Immoral, and Evil

The GOP government shutdown just hit home for a close friend.

His son, a laborer who lives in a so-called "Right To Work" state, was out of work. He had been let go from his previous job because he became injured outside of work. Rather than give him a month to heal, which is all he needed, his employer at the time just let him go. Tried to tell him that he was doing him a favor. That he could collect unemployment, as opposed to making nothing for the 30 days or so he would need to heal.

And his employer knew that this lad had only worked for him for five months, therefore not qualifying for unemployment. And, it turns out, this employer has done this to other workers, letting them go in the fifth month of employment, so the employer has to pay neither benefits nor unemployment.

This is what the GOP refers to as "Right To Work," the myth that, forbidding unions from requiring workers to join a union when they get a job, workers now can be "free" of union dues and work, because, dammit, they have the right to work.

In reality, it means states full of workers, like my friend’s son, who have no union protection, no unions who negotiated fair working conditions. None of that. Not at all.

And employers can be as ruthless as the nasty members of the GOP, some of the meanest pols we’ve seen since just before the Great Depression, when robber barons ruled, and pols danced to their commands.

So my friend’s son applied for another job. Went through the entire interview process. Passed every background check, drug test — paid for by the hiring company — and was given his "new employee" packet.

And, on what was supposed to be his first day of work, was told that the company could not start him, because of the government shutdown.

Because of the government shutdown, the company was not certain that some contracts would be upheld.

That’s not what they told him at first. But, after he pressed them, they admitted this was, in fact, the case. The government shutdown.

The damn GOP government shutdown.

His son says it was evident the company was scrambling. Some news from on high had reached the blue collar workers, and the company, and American company, was being downsized.

These inglorious GOP members of Congress have got to go.

All of them.

They claim that this shutdown is the fault of the Democrats and the Democratic President who "refuse to negotiate.

Bullshit.

And here’s proof.

From BillMoyers.com, proof that this debt ceiling crisis is not politics as usual:

Never before has a minority party linked controversial legislative demands with a threat to shut down the government or imperil the global economy. But House Republicans would have you believe otherwise.

In an op-ed in The Wall Street Journal this morning, Rep. Paul Ryan writes that president Obama “says he ‘will not negotiate’ on the debt ceiling. He claims that such negotiations would be unprecedented. But many presidents have negotiated on the debt ceiling—including him. ”

Ryan was referring to a speech given in September before the Business Roundtable — an association of CEOs of large US companies — in which the president said, “You have never seen in the history of the United States the debt ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party, and trying to force issues that have nothing to do with the budget and have nothing to do with the debt.”

Ryan continued: “He’s refusing to talk, even though the federal government is about to hit the debt ceiling. That’s a shame — because this doesn’t have to be another crisis. It could be a breakthrough.”

But that’s spin: Negotiating would set a dangerous precedent, because Obama’s right that this time really is different. Here are three reasons why.

Go to the original article here and read, and then act.


Obama Continues to Kick Ass as POTUS: U.S. Says Navy SEAL Team Captures Shabab Leader in Somalia

From the NYTimes:

A Navy SEAL team targeted a senior leader of the Shabab militant group in a raid on his seaside villa in the Somali town of Baraawe on Saturday, American officials said, in response to a deadly attack on a Nairobi shopping mall for which the group had claimed responsibility.

The SEAL team stealthily approached the beachfront house by sea, firing on the unidentified target in a predawn gunbattle that was the most significant raid by American troops on Somali soil since commandos killed Saleh Ali Saleh Nabhan, a Qaeda mastermind, near the same town four years ago.

The Shabab leader was believed to have been killed in the firefight, but the SEALS were forced to withdraw before that could be confirmed, a senior American official said. Such operations by American forces are rare because they carry a high risk, and indicate that the target was considered a high priority. Baraawe, a small port town south of Mogadishu, the Somali capital, is known as a gathering place for the Shabab’s foreign fighters.

Read more here.