Comments on: What Obama left out of his Economic Recovery Plan: Higher Wages and Debt Relief

By: Don Hawkins

Don Hawkins — Thu, 22 Jan 2009 01:07:06 +0000

Mike Whitney, Rick Wolff, Mickey Z., Ramsefall , Gary Corseri the same is true for every article we need a new way of thinking. A fundamental change is needed. The problem is we all must work together high upon the hill it has started not working together. If Barack can’t get this started it probably will not happen.

When the sun comes up on Wednesday morning, it is time to get back to work and let the Obama administration know the mandate for change that swept him into office was not a hope but a demand. Lucinda Marshall
I do know one thing at calm at peace will not work any other way the truth the knowledge Dinosaur minds seem to have there own truth and knowledge one and one is ten or five not two. Funny how that works.

By: Ramsefall

Ramsefall — Wed, 21 Jan 2009 23:22:38 +0000

Well done, Mike. The obvious conflict of interest between Team Obama and Wall Street will make for an untraversable obstacle. Net effect = zero change.

It isn’t only the strengthening of the middle class that needs to be addressed, but a new policy of wealth distribution and severely minimizing if not eliminating the impoverished, lower class. The gap in the US is catching up with the underdeveloped world, sadly but surely.

I can’t argue with Roubini.

There isn’t much that doesn’t zip through Congress anymore. With only a five-finger bunch of civil servants remaining (as demonstrated by the recent Israeli support), the politicians and bankers will continue to pour gas on the fire.

Amputation is being patched up with a band-aid, at present the country can’t even pay the interest on its debt. A living wage has been an issue for nearly 40 years, but it can’t be resolved because it interferes with escalating profits. Understanding the common logic of reducing both debt and the need for credit by increasing wages is the pink elephant in the corner of the room. It almost makes me wonder if they aren’t doing this intentionally. Could be.

Great article, solid points.

Best to you.

By: Deadbeat

Deadbeat — Wed, 21 Jan 2009 18:46:36 +0000

Whitney’s article is on the mark. Unless Obama’s plan contains provisions for debt forgiveness it won’t solve the problem. The real reason why the banks are being bailed out is to perserve capitalism. Banks are totally unnecessary institution that prevent people from gaining access to capital and charge people for the “privelege”. It is clearly inhumane that people are charged “interest” in order to have shelter. Thus it is clear then that Obama will bail out the banks.

Jobs are just rhetoric. There’s plenty of low paying jobs and mindless jobs and regemated jobs. What the point of working in a job and getting paid only to have that money go to your creditors. Deadbeatism needs to be the response by workers. What’s needed is a general strike against all creditors. Maybe that will shake the system up.

This is one of Whitney’s better articles because it really cut to the core of why Obama’s proposal will not yield the “hope” he talks about.