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The End of New Deal Liberalism

Greider misses the end of economic growth

Greider has penned an excellent piece... as far as it goes. The problem is the context is too small. I suggest he watch the series on Peak Oil right here on The Nation.com.

What we are seeing is the end of cheap oil and soon the end of economic growth as measured by traditional economists. The ramifications are of course historic. Never before has man, as an entire species, faced the limits of a finite world.

The "powers that be" know well the implications of the end of growth that peak oil will ensure—hence the "oil wars" in Iraq, Afghanistan, both failures BTW.

It is no accident that Obama has chosen a JP Morgan man as chief of staff. Fractional reserve banking, a k a money creation through debt, will be impossible as debt becomes unpayable and new long-term debt impossible.

Greider and the rest of us need to see the current unfolding events in the context of the end of growth as we knew it and the social and economic implications therein. The plutocrats are playing for all the marbles... for keeps.

The End of New Deal Liberalism

Put on your rally caps

Two of the more prominent but bizarro events of 2009 were the competing rallies to accomplish nothing hosted in Washington, DC, by Glenn Beck, the right-wing pseudo-evangelist historian, and Jon Stewart, faux newsman who is among the commentators most trusted by the liberal establishment.

Beck conducted a religious revival and Stewart a rock concert and good natured plea in favor of the rule of reason. Very little substance to get excited about, but Beck drew about 100,000 of his faithful, and Stewart got about twice that to hear his schtick.

The defenders of Social Security, Medicare and Medicaid may have to turn to Jon Stewart to rally the troups. However, if hundreds of thousands of folks could show up for really no good reason, a million could be put together to save programs that have allowed tens of millions of elderly, disabled, widowed or orphaned to live in dignity.These programs are paid for by the people and should not be taken away or seriously diminished to further redistribute our nation's wealth upwards; or balance the books skewed by unfunded wars, the collapse of the greed fueled economy and tax breaks for billionaires.

The message would be a resounding "don't mess with our hard-earned benefit." I believe the president and Congress would get the message, and some degree of power would be returned to the people.