Saturday, September 10, 2011

Vaporlock Nation


Did anyone notice on Thursday during the President's speech that Michelle Obama was not standing in her usual spot in the First Lady's box? Who was standing there? Tax cheat and GE CEO Jeffrey Immeldt, Obama's job czar. And, to his left, three other corporate leaders. That is a very telling visual and sums up just about everything that is wrong with this pro-corporate administration.

Think of the American economy this way: It's like a car with a dead battery and vapor lock in the fuel line. You can flush out the fuel line, sure, but the dead battery still prevents the starter motor from turning over the engine. Both problems have to be fixed before internal combustion can take place. Yet it seems the only people who have a serious clue how to break out of this stasis is Joe Lunchpail.

Understandably, business executives are skeptical of the President's nearly $450 billion plan for job creation. One pharmaceutical company in Lexington, Massachusetts said that even if the president's corporate tax rollback put $150,000 in their pockets, it still wouldn't be enough to make them consider hiring even one employee. What they're essentially saying is, "Like the bailout, we'd be glad to pay less taxes, Mr. President. But we're still not hiring no matter how much you put in our pockets."

And for progressives like me, the Obama jobs plan is nothing more than a thinly-veiled corporate bailout on a smaller scale that would cram money in the pockets of multi million and billion dollar corporations like Dollar Tree, Starbucks and McDonald's. Executives of companies such as these are saying, ludicrously, that the economy's to blame for their not hiring workers and they're sitting on their fat asses waiting for a deux a machina.

Gee, whatever happened to the "jobless recovery" or does that apply only to Wall Street?

The reason for the hiring freeze in this country has nothing to do with the economy. Even rapacious sociopaths like corporate executives know damned good and well that you cannot raise consumer confidence and demand for goods and services until people start working again. We could have 100,000 Warren Buffetts each pumping $5 billion into Bank of America and other banks and corporations but it would still not create a single job.

No, folks, the real reason why companies and corporations aren't hiring is obvious: When the job market started drying up in late 2008, they realized how wonderful it was to have 50 people to do the job of 75 or 100.

And with unemployment permanently at the 9% mark or higher, who's going to complain about having to do extra for the same rate of pay?

Maddeningly, small businesses got left out in the Obama plan because small businesses only account for nearly two thirds of all new jobs created over the last 15 years and account for nearly half the American payroll. The corporate tax rollback proposed by Obama would result in middling savings for the average small business owner and would, understandably, not be enough of an incentive to induce them to hire over the long term.

Corporations such as McDonald's, on the other hand, because they have a much larger and wider tax base, would see the biggest tax savings but if you were to ask their executive board if the extra millions a year in tax cuts would spur them to create any additional minimum wage jobs at minimal to no benefits, they'd probably laugh in your face.

If Congress adopts Obama's job plan, the half trillion would disappear just as fast as the bailout money had. It would be, to use former Labor Secretary Robert Reich's metaphor about contractor money in war zones, exactly like pouring thousands of gallons of water onto the desert sand. It would vanish, leaving not the slightest trace of that half trillion.

$50 billion, or less than 1/9 of that money, would be used to create jobs through infrastructure rebuilding, which is great if you have construction experience and happen to live in a state where the work is taking place. But, as with that pharmaceutical company in Lexington, a lot of private contractors who'd get that $50 billion would tell you with a straight face that $50 billion just doesn't create all that many jobs, any more.

I'm not being brilliantly insightful here. Many other minds, better and more pragmatic minds than mine, have been saying for years that the only real way out of this mess is for employers to actually start hiring again. People can only spend money they have.

We're vapor-locked and greed through job consolidation and an orgy of outsourcing, openly championed by the US Chamber of Commerce, are the reasons why so many people are unemployed. The Obama administration and Congress could completely empty out the Treasury and the Fed and pour the rest into Wall Street and it still will not result in a single job being created. Executives keep playing chicken with the economy as if disaster will suddenly flinch at the last moment and they'll keep driving us to that cliff's edge.

And the goose that laid the golden egg, the poor and middle class, will eventually have the final say when they can no longer buy goods and services and begin rioting in the streets.

2 Comments:

At September 11, 2011 at 2:44 PM, Anonymous Anonymous said...

While Obama is one of the worst leaders this country has ever elected it's simply lazy to place all the blame on him. Until the idiotized citizens of the US realize that neither party genuinely cares about its constituency beyond election day this charade will continue until the people are sucked dry and starving on the streets.
Congress is a joke; unfortunately people have bought into the propaganda demonizing one side or the other hook, line, and sinker while they're robbed blind by the very party that they are supporting.

 
At September 11, 2011 at 2:56 PM, Blogger jurassicpork said...

Oh, I'm not blaming him exclusively. Unlike the teahadists, my memory goes back beyond 1/20/09. I know who started this ball of shit rolling.

And I'm still waiting for the change to come and so far, I see absolutely none. The man needs to go, immediately, if not sooner.

 

Post a Comment

Links to this post:

Create a Link

<< Home

All Time Classics

  • Our Worse Half: The 25 Most Embarrassing States.
  • The Missing Security Tapes From the World Trade Center.
  • It's a Blunderful Life.
  • The Civil War II
  • Sweet Jesus, I Hate America
  • Top Ten Conservative Books
  • I Am Mr. Ed
  • Glenn Beck: Racist, Hate Monger, Comedian
  • The Ten Worst Music Videos of all Time
  • Assclowns of the Week

  • Links to the first 33 Assclowns of the Week.
  • Links to Assclowns of the Week 38-63.
  • #99: Dr. Strangehate edition
  • #98: Get Bentghazi edition
  • #97: SNAPping Your Fingers at the Poor edition
  • #96: Treat or Treat, Kiss My Ass edition
  • #95: Monumental Stupidity double-sized edition
  • #94: House of 'Tards edition
  • #93: You Da Bomb! edition.
  • #92: Akin to a Fool edition.
  • #91: Aurora Moronealis edition.
  • #90: Keep Your Gubmint Hands Off My High Pre'mums and Deductibles! edition.
  • #89: Occupy the Catbird Seat/Thanksgiving edition.
  • #88: Heil Hitler edition.
  • #87: Let Sleeping Elephants Lie edition.
  • #86: the Maniacs edition.
  • #85: The Top 50 Assclowns of 2010 edition.
  • #(19)84: Midterm Madness edition.
  • #83: Spill, Baby, Spill! edition.
  • #82: Leave Corporations Alone, They’re People! edition.
  • #81: Hatin' on Haiti edition.
  • #80: Don't Get Your Panties in a Twist edition.
  • #79: Top 50 Assclowns of 2009 edition.
  • #78: Nattering Nabobs of Negativism edition.
  • #77: ...And Justice For Once edition.
  • #76: Reading Tea Leaves/Labor Day edition.
  • #75: Diamond Jubilee/Inaugural Edition
  • #74: Dropping the Crystal Ball Edition
  • #73: The Twelve Assclowns of Christmas Edition
  • #72: Trick or Treat Election Day Edition
  • #71: Grand Theft Autocrats Edition
  • #70: Soulless Corporations and the Politicians Who Love Them Edition
  • Top 10 Secret Service Security Breaches
  • Top 10 LA Radio Shows That Are Rated Higher Than Rush Limbaugh's
  • Top 10 Reasons Operation American Spring Went Flat
  • Top Ten Facts of the MH370 Air Disaster
  • Top 10 Tips for GOP Congressmen Running Against Women
  • Top 10 Signs Walmart's Mistreating its Workers
  • Top 10 Diversions John McCain Found During Syria Hearing
  • Top 10 George Zimmerman Excuses for Speeding.
  • Top 10 Reasons Paula Deen Got Fired by the Food Network
  • Top Ten Ways Pope Francis is Deviating From Convention
  • Top 10 Reasons For the Pope's Resignation
  • Top 10 Emails Hacked From the Bush Family's Email Accounts
  • Top 10 Lies Told by Mitt Romney at the 2nd Debate.
  • Top 10 Examples of How Hard the Campaign Trail is on Ann D. Romney.
  • Top 10 Ways to Tell The Boston Red Sox Are Finished.
  • Top 10 Things Mitt May be Hiding in His Tax Returns.
  • Top 10 Events at the Romney Olympics.
  • Mitt Romney's Top 10 Wild & Crazy Moments.
  • Top Ten Reasons Why Dick Cheney Got a Heart Transplant.
  • Top 10 Facts About Tonight's New England/Denver Game.
  • My Top 10 Resolutions.
  • Top 10 Rejected Slogans of the Romney Campaign.
  • Top 10 Reasons Herman Cain Suspended His Campaign.
  • Top 10 Trending Topics on Twitter During #OWS Eviction.
  • Top 10 Herman Cain Pickup Lines.
  • Top 10 Changes Since Anthony Weiner Decided to Resign.
  • Top 10 Inaccuracies re bin Laden's Death.
  • Top 10 Ways to Prevent a TSA Patdown.
  • Top Ten Things Not to Say When You're Pulled Over.
  • Top 10 Reasons Why Donald Trump Bowed Out of the Presidential Race.
  • Top 10 Ways Evangelicals Will Prepare for the Rapture II.
  • Top 10 Revelations in Today's Parliament Inquiry into News Corp.
  • Top 10 Reasons Why There Was No Vote on the Debt Ceiling Last Night.
  • Top 10 Revelations in Dick Cheney's Upcoming Memoir.
  • Top Ten Ways Americans Will Observe the 10th Anniversary of 9/11.
  • Top Ten Advances in Women's Rights in Saudi Arabia.
  • Top Ten Inaccuracies in Bill O'Reilly's Book About Lincoln.
  • Top Ten Suggestions From the Cat Food Commission.
  • Top Ten Worst Moments in George W. Bush's Presidency.
  • Top Ten Facts in George W. Bush's Memoir.
  • Top Ten Reasons Terry Jones Postponed His Koran Burning
  • Top 10 Causes for Dick Cheney's Congestive Heart Failure
  • Top Ten Ways That Jan Brewer Will Celebrate Cinco de Mayo
  • Top Ten Demands in Sarah Palin's Contract
  • Top Ten Whoppers in Karl Rove's New Book
  • Top 10 Items Left Behind in Rush Limbaugh's Apartment
  • Top Ten Things Barack Obama said to Rush Limbaugh in the Hospital
  • Top Ten Bizarre Promos Offered by the New Jersey Nets
  • Top 10 Bush Executive Orders Labor Wants President Obama to Repeal
  • George W. Bush's Top Ten Lesser Achievements
  • Boolean Bozoism

  • #19
  • #18
  • #17
  • #16
  • #15
  • #14
  • #13
  • #11
  • #10
  • Empire Of The Senseless.
  • Christwire.org: Conservative Values for an Unsaved World.
  • Esquire's Charles Pierce.
  • Brilliant @ Breakfast.
  • The Burning Platform.
  • The Rant.
  • Mock, Paper, Scissors.
  • James Petras.
  • Towle Road.
  • Avedon's Sideshow (the new site).
  • At Largely, Larisa Alexandrovna's place.
  • The Daily Howler.
  • The DCist.
  • Greg Palast.
  • Jon Swift. RIP, Al.
  • God is For Suckers.
  • Hullabaloo, Digby's place.
  • The Rude Pundit.
  • Driftglass.
  • Newshounds.
  • William Grigg, a great find.
  • Brad Blog.
  • Down With Tyranny!, Howie Klein's blog.
  • Wayne's World. Party time! Excellent!
  • Busted Knuckles, aka Ornery Bastard.
  • Mills River Progressive.
  • Right Wing Watch.
  • Earthbond Misfit.
  • Anosognosia.
  • Echidne of the Snakes.
  • They Gave Us a Republic.
  • The Gawker.
  • Outtake Online, Emmy-winner Charlotte Robinson's site.
  • The artist formerly known as Politits. The politics are still liberal.
  • Skippy, the Bush Kangaroo
  • No More Mr. Nice Blog.
  • Head On Radio Network, Bob Kincaid.
  • Spocko's Brain.
  • Pandagon.
  • Slackivist.
  • WTF Is It Now?
  • No Blood For Hubris.
  • Lydia Cornell, a very smart and accomplished lady.
  • Roger Ailes (the good one.)
  • BlondeSense.
  • The Smirking Chimp.
  • Hammer of the Blogs.
  • Vast Left Wing Conspiracy.
  • Argville.
  • Existentialist Cowboy.
  • The Progressive.
  • The Nation.
  • Mother Jones.
  • Vanity Fair.
  • Salon.com.
  • Raw Story.
  • Citizens For Legitimate Government.
  • News Finder.
  • Indy Media Center.
  • Lexis News.
  • Military Religious Freedom.
  • McClatchy Newspapers.
  • The New Yorker.
  • Bloggingheads TV, political vlogging.
  • Find Articles.com, the next-best thing to Nexis.
  • Altweeklies, for the news you won't get just anywhere.
  • The Smirking Chimp
  • Don Emmerich's Peace Blog
  • Wikileaks.
  • The Peoples' Voice.
  • Dictionary.com.
  • CIA World Fact Book.
  • IP address locator.
  • Tom Tomorrow's hilarious strip.
  • Babelfish, an instant, online translator. I love to translate Ann Coulter's site into German.
  • Newsmeat: Find out who's donating to whom.
  • Wikipedia.
  • Uncyclopedia.
  • anysoldier.com
  • Icasualties
  • Free Press
  • YouTube
  • The Bone Bridge.
  • Powered by Blogger

    http://DeeperLeft.com