Category Archives: Corporations

The US Is No Longer A Democracy. Here’s How It Happened.

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Last year, a study from Princeton and Northwestern universities, “Testing Theories of American Politics: Elites, Interest Groups and Average Citizens,” concluded that the US government no longer represents the interests of the majority of the nation’s citizens. Instead, it panders to the rich and powerful.

In other words, the US has become an oligarchy defined as a government by the few, a small group that exercises control especially for corrupt and selfish purposes.

More recently, President Jimmy Carter, commenting on how big money has subverted our elections, said, “It violates the essence of what made America a great country in its political system. Now it’s just an oligarchy with unlimited political bribery being the essence of getting the nominations.”

The US didn’t become an oligarchy by accident. We got here as the result of a long list of political decisions designed to pander to the wealthy and the powerful. Here’s how:

During the 1800s, the US went from a largely agrarian society to a society based on the industrial revolution. This created some extremely wealthy individuals often referred to as the “Robber Barons,” who took advantage of cheap labor created by the influx of immigrants. They paid little and subjected their employees to horrific working conditions. During this so-called Gilded Age, the wealthy chose the candidates and ran the nation until the masses began to rebel.

In the early 1900s, the Gilded Age ended when workers began to unionize. The wealthy responded by hiring the police and ex-military (the American Legion) to break the labor strikes by bashing some heads. In reality, it was America’s second civil war.

When the Great Depression struck, the nation moved even further toward socialism which caused the wealthy to try to arrange the assassination of President Franklin Roosevelt. In fact, many of the industrialists wanted the nation’s government to reflect the fascist governments of Italy and Germany. Their agenda was interrupted with the bombing of Pearl Harbor, World War II and the revelations of the Nazi death camps. And they were forced to accept the will of the masses until the 1970s when President Richard Nixon and Vice-President Spiro Agnew attacked the new media in order to deflect criticism of their policies.

By raising questions about the objectivity of the media which were embraced by conservatives, it set the stage (intentionally or not) for the Reagan administration and its economic policy of “Trickle Down” theory. This was nothing more than a return to the “Horse and Sparrow” economics of the gilded age, during which government policies were carefully crafted to benefit the wealthy under the theory that if you feed enough oats (money) to the horses (the wealthy) enough will fall on the road to feed the sparrows (the masses).

Reagan portrayed the government and its regulation of industry as the enemy. He attacked labor unions. He lowered taxes for the wealthy. He increased the amount of money exempted from estate taxes. He deregulated the media by eliminating the Fairness Doctrine which held media accountable to serve in the public interest. And he lowered capital gains taxes, which allowed the wealthy to keep more of their primary sources of income – interest and dividends from investments.

With the wealthy allowed to accumulate more money, labor unions on the defensive and an emasculated press, the table was set for the oligarchs. All of this was made worse by Grover Norquist, Jack Abramoff and Ralph Reed who showed the Republican National Committee that it could thrive by eliminating compromises from our political discussions and treating politics as war – a blood sport. Former House Speaker Newt Gingrich took congressional dysfunction a step further by transforming the GOP into a parliamentary-style party in which the entire Party is unified on every vote. If you dare to break ranks with Party, you are punished in the next primary and election.

Add to all of this the more than $28 billion lobbying industry, which is financed almost exclusively by the rich and the powerful, the American Legislative Exchange Council (ALEC), which writes laws on behalf of its corporate sponsors then hands them to its conservative members to sponsor in their state legislatures where the bills are often passed with little discussion or examination, and the George W. Bush administration which cut income taxes for the rich by 4.6 percent and all but eliminated the estate tax.

The last major player is the conservative majority on the US Supreme Court, which by 3 decisions (Buckley v Valeo, Citizens United v FEC and McCutcheon v FEC) unleashed a torrent of money in campaign donations from the oligarchs. So much so, that candidates should have to wear NASCAR-style uniforms with labels of their sponsors. Indeed, of the nearly $400 million donated to presidential candidates so far this year, nearly half has come from fewer than 400 families!

Given all of this, no election in our history has been as critical as next year’s. We can either continue further down the road of oligarchy by electing candidates who try to divide us over social issues while pandering to the wealthy. Or we can elect candidates of change – real change. Candidates who will put the power of the government back in the hands of the people.

That’s why I support Bernie Sanders.

Far From A Cancer On The Conservative Movement, Trump Represents It.

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Contrary to Rick Perry’s assessment of Donald Trump, The Donald embodies everything that’s wrong with today’s Republican Party. He’s loud, arrogant, abusive, mean-spirited, greedy, narcissistic and an unapologetic bully. He’s a friend of soulless multinational corporations and an enemy of the environment. He’s opposed to immigration, yet he happily hires immigrants for menial, low-paying jobs.

Trump is the ultimate representative of the GOP’s “I’ve got mine, you can’t have yours” mentality.

He places corporate interests above those of consumers. He despises regulations – anything that may stand in the way of his insatiable greed. He demands a strong military, yet he refused to serve, receiving 5 student deferments and a medical disability (he had a bone spur in one of his feet – he can’t remember which). Of course, that bone spur never stopped him from participating in college athletics.

Despite his claims of having earned everything he owns, Trump was born on third base and brags that he hit a triple. He inherited most of his wealth, yet accuses anyone who is impoverished of not working hard enough. He complains of high tax rates and complicated tax codes, yet he pays none.

The only reason the other GOP candidates are upset with Trump is not because they disagree with his politics. It’s that he’s willing to say what they all believe.

Moreover, Trump’s popularity with Republicans has exposed the fallacy that the mainstream media are liberal. The faux journalists are fawning all over him. I’m not just referring to the loudmouths who fill airtime on the Faux News Channel. I’m talking about those who call themselves journalists at every level – from national and international networks all the way down to local TV stations and newspapers.

And why wouldn’t a “reporter” more interested in personal advancement than real journalism cover Trump? Trump is good for ratings. He’s good for the infotainment masquerading as news.

So get used to seeing and hearing about Trump 24/7. He’ll be the focus of the Republican presidential race until real reporters (if any still exist) ask him to articulate real solutions for the nation’s problems. And until people begin to picture a clown in the White House and the impacts of his antics on the nation and the world.

There Is No Freedom Without Responsibility.

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The Fourth of July has long been declared a national holiday so Americans can take time to celebrate our freedom. To many Americans, that makes us unique. But, in reality, the US is not the only country with freedom. Indeed, based on a study by the Economist Intelligence Unit, which looks at 60 indicators in five separate categories measuring pluralism, civil liberties, and political culture, the US ranks only 19.

That means 18 nations in the world offer greater freedom than the US. Further, 75 of the world’s nations are democracies. Another 41 are governed by a hybrid system. In fact, of the 167 nations measured, only 52 are listed as authoritarian regimes, including several friends of the US, such as Jordan and Saudi Arabia.

Obviously freedom is something to celebrate. But have some Americans taken the concept of freedom too far? And are all of the citizens of the US truly free? The answer to those questions may well depend on who you ask. Certainly, the thousands of people incarcerated or on probation for drug use might not consider themselves free. Likewise, those who have been convicted of felonies and can no longer vote or find a suitable job despite having served their time may not consider themselves free.

In addition, the African-Americans who have been segregated into the poorest areas of our largest cities with under-funded schools, disproportionately high unemployment and few opportunities might not consider themselves truly free. American Muslims who are discriminated against for the way they choose to dress and worship might not consider themselves entirely free. The so-called “Dreamers” who were brought to the US by their parents at a very young age, and now live in fear of deportation, are unlikely to celebrate their freedoms. And the Native Americans who live in some of the nation’s worst conditions, and who continue to watch their traditional lands stolen by large corporations without fair compensation, may not think themselves free.

At the same time these people are denied their freedom, others – namely some greedy and mean-spirited Americans – abuse theirs.

For example, many corporate leaders, bankers and hedge fund managers use their freedom and wealth to buy favor with politicians. They then use a variety of legal tricks to “legally” steal money from ordinary Americans. They ship American jobs offshore. At the same time, they use their wealth to convince politicians to cut taxes. And for good measure, they often stash their money in offshore tax havens in order to avoid paying their fair share of taxes. Faced with less revenue, our federal and state governments cut the funding of public schools and universities. The inevitable result is that our nation lags behind many others in terms of upward mobility.

Corporate-owned news media have used their freedom to boost ratings with propaganda. Instead of reporting on things that really matter, such as bringing transparency to our government, they focus on sensational trials and violent crimes – especially those involving people of color. The result is to create more fear leading to more segregation.

Following gains by the civil rights movement, some racists in the South resurrected the Confederate battle flag under the guise of celebrating history. To the descendants of slaves, this was an obvious show of power intended to keep them in “their place.” At the same time, a small portion of our citizens have stockpiled weaponry with the express purpose of intimidating their neighbors and threatening the government to which they pledge allegiance. (Does the name Cliven Bundy ring a bell?)

Freedom, then – at least in the US – is relative. For some in the US, there is too little. For others, there is too much.

Some excuse such things by claiming that freedom is, by its very nature, noisy and messy. However, Germany is free. As a matter of fact, it currently ranks 6 places ahead of the US. Yet in Germany, it is illegal to display the Nazi flag. That may restrict the freedom of some, but it shows a clear sense of responsibility and a compassion for those harmed by Hitler’s regime.

Maybe it’s time the US embraced such values. Even after 239 years, we can still learn and improve our nation. We should understand that with great freedom comes great responsibility – that in a nation of more than 330 million, you cannot do everything you want without infringing on someone else’s freedom. That’s where responsibilities and regulations come into play. As well-educated men of means who celebrated enlightenment, I believe the Founding Fathers assumed our citizens would understand that concept.

Unfortunately, too many don’t.

Politicization Of Religion.

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Let me begin by stating that, although I’m not a church person, I am a religious person. My spirituality and my belief in compassion for others is an essential part of my being. Religion can play an important role in keeping order and preventing some from infringing on the rights of others. I wish everyone would follow the Golden Rule: “Do unto others as you would have them do unto you” or, if you prefer, the Native American version: “Help me never to judge another until I have walked in his moccasins.”

I also believe that we would all be better off if we followed the serenity prayer: “Grant me the serenity to accept the things I cannot change, the courage to change the things I can and the wisdom to know the difference.”

Almost every other aspect of religion is relative. Take the 10 Commandments. Though the most important commandment is to not kill, devout followers of many faiths – particularly those on the far right – routinely justify killing as a part of war or as a necessary part of policing. Though another commandment is to not steal, many of the pious ignore the commandment in the interests of greedy corporations and by gaming the system. Many of the so-called pious also ignore commandments pertaining to adultery (think Newt Gingrich, Bob Livingston, et al), bearing false witness (I’m referring to you Fox News Channel), honoring the Sabbath (that would get in the way of business), and coveting the possessions of others (How else are we to motivate the masses to purchase things they don’t need?).

And, even though many on the far right continue to claim the religious high ground, they continue to ignore the portions of the Bible that are inconsistent with their beliefs while demanding strict adherence to other portions of the Bible that suit their needs. They denounce abortion as murder yet call for our nation to engage in wars. They demand that monuments to the 10 commandments be placed on public property even though they refuse to follow them. They quote Biblical passages condemning homosexuality while ignoring the passages condemning divorce, the consumption of shellfish, and the wearing of more than two fabrics at a time.

Yet, every time they are confronted with their hypocrisy, they either deny the obvious, change the subject or simply state that all humans are sinners and they will be “saved” if they only ask for forgiveness.

How convenient!

One can only conclude that political right wingers are the ultimate relativists. They have no faith…no moral compass. They worship free markets and corporate profits over human kindness and compassion.

For far too many, religion is only a political tool with which to flog their opponents in the name of God. In that regard, they are no different than ISIS.

Rick Perry Reveals The Right Wing Agenda.

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It would seem that 2012’s “Ooops” candidate has had another “Ooops” moment. In launching his 2016 presidential bid, he finally remembered the 3 federal departments he would eliminate: the Department of Education, the Department of Labor and the Department of Energy. And that’s not all. He would also eliminate the Environmental Protection Agency, the IRS, Medicare, Medicaid, Social Security and, of course, Obamacare.

He’s also not very keen on the Department of the Interior and the legal system, saying “It’s [America] in jeopardy because of taxes; it’s in jeopardy because of regulation; it’s in jeopardy because of a legal system that’s run amok. And I think it’s time for us to just hand it over to God and say, “God, You’re going to have to fix this.”

That’s the ticket.

Perry believes that we don’t have to worry about the state of our crumbling infrastructure, our militarized police departments, our over-stressed environment, our large corporate polluters, global warming, growing inequality, rampant racism, debilitating poverty, political polarization, and our for-hire Congress.

All we have to do is let God run the country. Oh, wait. How, exactly, can he do that? Since He doesn’t talk to all (many) of us, who will be his interpreter? Who will carry out His orders? Why Teapublicans, of course! According to the right, only they are the true patriots; only they have a close relationship with God; only they know what God wants.

Is that what you believe? That Teapublicans are the only moral, God-fearing politicians? If so, then how do you explain the pedophilia of Dennis Hastert? How do you explain the adultery of Newt Gingrich, Bob Livingston and so many other Teapublicans? How do you explain the war-mongering of John McCain and Lindsey Graham? How do you explain the GOP’s uncaring attitude toward the poor? How do you explain the GOP’s embrace of the rich and powerful? How do you explain the GOP’s lack of interest in preserving the environment and all of God’s creatures?

You can’t…because it simply defies explanation.

The real problem for the GOP is that Perry was, in a manner of speaking, speaking out of school. You see, his beliefs are the same as those of most – if not all – of the declared GOP candidates. And the GOP would rather not have you know about them. They don’t want seniors to know that they want to eliminate Social Security and Medicare as “socialism.” They don’t want you to know that they consider public education “socialism.” They don’t want you to know that they are against worker’s rights and any form of collective bargaining. They don’t want you to know that they are deep in the pockets of the oil companies and are paid to do their bidding. They don’t want you to know that they simply don’t care about the poor.

Don’t believe it?

Then take a close look at what’s happening in Teapublican-controlled states like Arizona, Kansas and Wisconsin. In those and other red states, the GOP has cut taxes for corporations and the wealthy and balanced the budgets on the backs of the poor, as well as the teachers and students. The results have been disastrous, yet they don’t seem to care.

Instead of admitting their mistake and addressing the problems, the GOP is doubling down. They want to expand the misery to the entire country.

Guns For Everyone, Everywhere!

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For years, I thought the National Rifle Association could stoop no lower than its role as shill for the gun manufacturers. The US has never restricted gun ownership, but the NRA has routinely pushed for increased accessibility and ever more lethal weapons. As a result, Americans may now purchase a 50-caliber semi-automatic sniper rifle powerful enough to blow a hole in a car’s engine block at a distance of 1,000 yards. You may now own a semi-automatic assault rifle with high capacity magazines that will permit you to shoot dozens of people without the inconvenience of having to stop to reload. And, if the NRA has its way, you will soon be able to legally purchase a silencer for your weapons that will allow you to shoot people while avoiding detection.

Who wouldn’t need that?

What began as an organization dedicated to helping young men improve their marksmanship for hunting and for possible military service, has morphed into a lobbying group with a mission of eliminating all laws and restrictions with regard to the purchase and carry of handguns. Now the NRA is working on open carry laws that will allow any paranoid dimwit to openly carry a loaded weapon anywhere at any time. By contrast, in many cities and towns, martial artists are still unable to purchase or carry nunchuku, shurikens (Asian throwing stars) or certain kinds of knives. After all, without such restrictions, the national nunchuku murder rate might soar to…ummm…one. And convenience stores would be under constant threat of being robbed at shuriken point.

Sarcasm aside, those restrictions came from a day when the American public actually cared about preventing violence. From a time when the lack of a conspicuous presence of guns was a sign of advanced civilization. A time when the primary reason for owning a gun was for home protection and for hunting. A time before the gun manufacturers and the NRA convinced the most paranoid amongst us that carrying a gun was the only thing that stood between them and tyranny.

In order to keep the majority of Americans from understanding the true dangers of our obsession with guns, the NRA has successfully lobbied to prevent the government from tracking gun deaths, to prevent the registration of firearms and ammunition, to prevent universal background checks of gun purchases, to prevent so-called straw buyers from purchasing guns for felons, even to prevent pediatricians from talking to parents about gun safety in the home.

All of that is bad enough. But now the NRA is fighting proposed gun restrictions for those who have been convicted of domestic abuse and those who are mentally ill, stating, “Not only is this unjust and stigmatizing, it creates disincentives for those who need mental health treatment to seek it, increasing whatever risks are associated with untreated mental illness.”

In other words, the NRA wants everyone to own guns and to carry them everywhere. Anything less is, in the NRA’s words, “an assault on the Second Amendment.” The problem is that the NRA conveniently ignores the first part of that amendment. Yes, the amendment does say, “the right of the people to keep and bear arms, shall not be infringed.” But only after it states, “A well regulated Militia, being necessary to the security of a free State…”

Reading the many papers written by the Founding Fathers, the intent of the Second Amendment becomes clear…since the new nation had no standing army, the Founders saw a need for a citizen militia to protect the nation. They had no concern of tyranny from within – the democratic process was considered protection from that. The real threat was from the British Army and the armies of other foreign governments. But now that the US has the most powerful military force on Earth, there is no longer a need for an armed militia. As a result, the Second Amendment has lost its meaning and its true purpose. All of those guns that are owned and carried by Americans are being used to shoot other Americans at a rate of more than 33,600 per year…roughly the equivalent of twelve 9/11 attacks each and every year!

The Founders could have never foreseen the lethality of the weapons available today. Just as they could not have imagined that a lobbying group representing a tiny fraction of the population would be so effective at convincing Congress to suspend common sense and reason.

You Can Take That To The Bank.

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That used to be a statement of certainty. Americans once considered the bank a place of safety for their money; an island of certainty in an uncertain world. No longer. With the repeal of Glass-Steagall in 1999, banks have become little more than high-end casinos – only casinos have some semblance of integrity.

When banks lost their high-stakes bets in 2008, they collapsed our economy. And, in an act of unparalleled hubris, they turned to taxpayers to help them avoid bankruptcy. Instead of paying a significant price for their wantonness, the “too-big-to-fail” banks continued with business as usual, even continuing to pay their executives six and seven-figure bonuses. Meanwhile, other Americans slogged through the greatest recession in history, losing as much as $7 trillion through a combination of home foreclosures, lost salaries, lost interest and lost pensions.

And who made off with most of that money? Why Wall Street, of course.

Given their recent history, one would expect that at least some of the bankers who caused the problems would have been convicted of crimes. They weren’t. Instead, they have continued to profit. Worse, they have continued to game the system. They continue to oppose the Dodd-Frank Wall Street Reform and Consumer Protection Act. They continue to oppose the Consumer Protection Agency. And they continue to gamble with your money.

In fact, since the banking collapse of 2008, bankers seem to have upped their game; engaging in numerous financial scams and committing outright crimes. To wit: UBS paid $2.3 billion in fines when it was discovered that one of its traders hid €5 billion in losses. Wells Fargo paid $175 million to settle accusations that it discriminated against African-Americans and Hispanic borrowers. JPMorgan Chase gambled $2 billion and lost nearly $6 billion. Barclays paid $450 million to settle charges that it manipulated LIBOR, the global interest rate, and UBS paid $1.5 billion to settle similar charges. USBC paid $1.9 billion to settle a money laundering probe. And Barclays was recently fined £284,432,000 for its role in rigging the foreign exchange market.

Though the banks have admitted to felonies and paid billions in fines, they have yet to pay any real penalty. As far as I can tell, only two bankers have gone to jail. And the rest are unrepentant. Indeed, a recent poll of Wall Street traders found that a significant percentage would be willing to commit a crime if it resulted in a payback of $10 million. (Keep in mind that, on Wall Street, $10 million is chump change.)

But instead of cracking down on the banksters, a GOP-controlled Congress seems determined to deregulate Wall Street. (They know who butters their bread or, more precisely, makes the majority of their campaign contributions.) So you don’t have to be a financial expert to know that there will be many more scandals to come.

You can take that to the bank…er…mattress…or whatever.

The Eleventh Hour For Earth.

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Half of all the species on Earth have disappeared in the last 40 years. In Malaysia, Indonesia, Africa and Brazil, the destruction of rain forests continues almost unabated endangering thousands more species of plants and animals while belching tons of carbon and methane into the atmosphere. The resulting increase in world temperatures from deforestation, gas and diesel-powered cars, and coal-fired power plants is causing the Greenland glaciers to lose 17 feet of elevation every year. Likewise, the Antarctic ice shelves and glaciers are melting at alarming rates. In addition, the Arctic sea ice is disappearing putting the future of Polar Bears, even indigenous people in jeopardy.

Greed has led to the near extinction of Northern White Rhinos with only 5 now left on the entire planet, and they’re only alive because they’re guarded 24/7 to protect them from poachers. Ivory poachers are killing African elephants at the rate of more than 33,000 per year. If that continues, wild African elephants will become extinct within 12 years! Tigers and many other species are also nearing extinction in the wild. Even bees and butterflies are endangered by our overuse of pesticides.

We have destroyed most of our great ocean reefs and we continue to dump oil, agrichemicals and trash into the oceans creating large dead zones and “islands” of plastic. Hundreds of large factory ships scoop up anything that swims into nets 24 hours a day, keeping those species that are valuable for sale and killing the rest.

Factory farming of cattle, pigs and poultry has led to the overuse of antibiotics that pollute our bodies and make bacteria increasingly immune to medicines. Dairy cows are treated like milk factories, fed a steady diet of hormones intended to cause them to give more milk. And most of the animals are confined in pens with little room to turn around. Moreover, the waste from these meat and milk factories pollutes our ground water and the animals create enormous amounts of methane released into the atmosphere to add to the greenhouse gases. At the same time, corporate farming of grains, fruits, vegetables and nuts have incorporated more herbicides and pesticides while stripping the flavor and nutrition from our food supply.

Oil companies, subsidized by US taxpayers, are searching farther and deeper for oil and gas while polluting the land and water wherever they go. Not only are they responsible for massive spills in our oceans. They are pumping millions of gallons of benzene and other chemicals into the ground which pollutes our ancient underground aquifers. Coal companies are removing entire mountaintops in Appalachia while destroying forests and streams. Manufacturers and refineries quietly dump their toxic waste into our streams or, if it is so toxic that it might raise alarms in the US, they ship it to third world nations for disposal.

At the same time we are destroying the planet with our greed, holy wars are being waged around the globe displacing millions of people in the name of God and Allah. The destruction is spurred on by military contractors who pump out weapons by the millions then traffic them globally in the name of “defense.”

Given all of these crises, you might expect that Congress is working overtime to find ways to end the destruction. But you’d be wrong. While the planet is quite literally melting down, our crack politicians are playing golf with the polluters; vacationing with the weapons manufacturers; sucking up to billionaire campaign donors; doling out subsidies to corporate farmers. And, instead of addressing the real issues, the GOP and its propaganda arms (Fox News Channel and talk radio) have voters in a tizzy over such issues as the religious freedom to discriminate against others, the imaginary “war on Christians” and the false narrative that “tree huggers” are standing in the way of job creation and higher wages.

And when GOP leaders are asked about climate change, they begin their denial with “I’m not a scientist” or “climate change is unproven.” Well, I’m not a scientist, either. But I have eyes and ears. I can see the effects of pollution. I can see films of rampant deforestation. I can read reports from climate scientists and environmental scientists. And I can listen to experts who flatly state that 2015 may be our last chance to begin the necessary changes to head off the cascading effects and downward spiral of climate change.

So what is the downside of committing to policies that will slow and eventually reverse the destruction of our planet?

There is none. Certainly, some industries and jobs will be negatively impacted. But far more will be created. Making positive changes such as reducing our consumption, changing to a more plant-based diet, and switching from carbon fuels to renewable energy sources such as solar, wind and biofuels should not be difficult. And the new industries these changes create will be the economic engines that drive our future…if we are to have a future on this planet.

Remembering The Greatest Economic Crash In History.

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Looking back at the market crash of 2008, it’s difficult to believe that it represented a greater loss of stock and home equity than any previous crash in American history. Though we may be impatient for a full recovery of jobs and middle class incomes, we should take a few moments to recognize that the quick action by Congress and the Federal Reserve did, in fact, work. The same can be said for President Obama’s automotive bailouts and economic stimulus which were opposed and derided by Teapublicans.

So you have not yet been able to find the job you want? Or you feel that you are being undervalued and underpaid? Your frustration is understandable. But, when compared to the aftermath of lesser crashes, it could have been a whole lot worse. We were not relegated to soup lines and work camps as our parents and grandparents were following the stock market crash of 1929. But had President Obama not ignored the Teapublicans’ call for austerity measures, we well might have been.

To fully appreciate what I mean, you need to look at the extent of the losses in 2008.

The Dow Jones Industrials lost 778 points in one day – the greatest single day loss in history. It’s estimated that the market crash resulted in a $1.2 trillion loss of market equity. Looking at it another way, the Dow lost 33.8 percent for the full year – surpassed only by the bear markets of 1907 and 1931. Further, GDP contracted for more than a year. Unemployment rose from 5 percent to 10 percent before it began to drop. According to Zillow.com, $3.3 trillion in home equity was stripped from homeowners in 2008 as home values fell by 30 percent. Income levels fell, causing the net worth of households and non-profit organizations to fall by roughly $15 trillion. And the impact of the crash on retirement funds is virtually immeasurable. Indeed, those who were nearing retirement may never fully recover the money lost in their IRAs, 401ks and their defined benefit pension funds.

Despite all of that, our economy recovered remarkably quickly. If you don’t believe me, just look at the economies of many other advanced nations that are struggling with stagnation who mistakenly followed the advice of conservatives. By contrast, the GDP of the US is growing, our deficits have fallen at a dramatic rate and our national debt is now less than 3 percent of our GDP – and it would be much lower if Teapublicans hadn’t fought to give more tax breaks to corporations and the one percent. Certainly, income inequality is skyrocketing, but it was expanding long before the crash as a result of the Bush tax cuts. Yet rather than do something to address the issue, the GOP-led Congress has, instead, voted to eliminate estate taxes for the wealthiest 5,000 families in America!

Remember that the next time you hear someone claim that the GOP is the party of fiscal responsibility. It was GOP policies that led to the Great Recession. And, once again, it was Democratic leadership that led us out of it.

The Ongoing Bloodless Coup.

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Prior to the Great Depression, the world’s financial institutions and industrialists had most everything going their way. Still living in the gilded age, they had been able to stave off labor unions by exercising all of the power their money could muster. But when the stock market crashed and Herbert Hoover failed to right the ship of state, things changed. Franklin Delano Roosevelt and Vice President Henry Wallace, led a new movement intended to help the common men and women who were out of work and out of money. This didn’t sit well with the wealthy financiers on Wall Street who had visions of turning America into a fascist government based on those of Germany and Italy.

Even before FDR’s inauguration, they struck.

Though ties to the nation’s elite were never proven, it seems clear that they had hired a lone assassin to shoot the president-elect at a public speech. But, thanks to a woman in the crowd who spoiled the shooter’s aim, FDR escaped unharmed as the bullets struck five members of his party, eventually leading to the death of the mayor of Chicago.

Then, when FDR abandoned the gold standard at the behest of manufacturers whose foreign customers could no longer afford their products, Wall Street went nuts. They believed their wealth and investments would be devalued. Almost immediately, they began seeking new ways to remove FDR from office, eventually settling on the so-called “Business Plot” involving an army of 500,000 veterans under their employ. The army was recruited from the right-wing American Legion that had already been used to beat back (quite literally) the labor union movement. The plan was for Wall Street’s army to march to the White House where it would capture FDR and replace the democratically-elected government with a business-friendly government that would mirror Mussolini’s fascist government of Italy.

Seriously!

The fact that Henry Ford and Charles Lindbergh were Nazi sympathizers has been long established. But they represented just the tip of the iceberg. Other fascist supporters included the leader of the American Legion and many of J.P. Morgan’s allies, including Prescott Bush (father of George H.W. Bush and grandfather of George W. Bush and Jeb Bush), George Herbert Walker (Prescott Bush’s father-in-law), Irenee du Pont, and many others. And, though Bush and Walker escaped the embarrassment of an investigation and trial, it seems clear that they helped finance the Axis war machine even after the US declared war following Pearl Harbor.

As outrageous as it may seem, the Business Plot likely would have succeeded had the plotters not sought the help of Major General Smedley Butler. A lifelong Republican and loyal patriot, Butler played along with the plotters only long enough to take names before exposing the plot. Of course, many later dismissed the plot as a hoax, but the fact remains that the final report from a congressional committee stated: “There is no question that these attempts were discussed, were planned, and might have been placed in execution when and if the financial backers deemed it expedient.” Further, the report stated that “the committee was able to verify all the pertinent statements made by General Butler, with the exception of the direct statement suggesting the creation of the organization.” However, that statement was later corroborated in written correspondence from one of the plot’s leaders, Gerald C. MacGuire.

Yet, even though the plot was acknowledged to be a real threat, congressional hearings on the matter refused to release the names of the conspirators revealed by Butler, and Congress dragged out the proceedings long enough to allow Wall Street’s propaganda machine to gloss over the coup attempt.

Although details and the names of those behind the coup attempt were eventually exposed, and FDR was re-elected two times, it appears that the idea of a hostile takeover of our government never faded from the minds of some of America’s wealthiest families. But, instead of relying on an army of veterans to help them pursue their goals, it seems that the fascists have chosen, instead, to rely on something more familiar and trustworthy…money.

I’m referring, of course, to the global industrialists who profited from the Nixon administration, the large manufacturers who were able to beat back labor unions with help from the Reagan administration, and the interests of Big Oil, military contractors and private equity firms that profited handsomely during the Bush/Cheney administration. Of course, these big money interests had a setback in 2008 and 2012 when President Obama defeated their preferred candidates. But they most certainly haven’t given up.

They not only have a sympathetic majority of the Supreme Court, which ruled that money equals free speech, that corporations have the rights of individuals and that there should be no limits on political donations. They have control of the American propaganda machine, otherwise known as mass media. And thanks to the billions in dark money laundered through a complex network of non-profit “education” organizations, they have retaken control of Congress where Teapublicans are gleefully working to pay back their masters by attempting to deregulate Wall Street, defund the Consumer Financial Protection Agency, gut the Environmental Protection Agency and nullify the Dept. of Labor. They even want to eliminate the Dept. of Education (likely on the premise that an educated and informed citizenry is a threat to their rule).

There’s an old adage that tells us the best way to uncover corruption is to follow the money. That’s especially true when it comes to politics.

For more information about the Business Plot, check out the link to a segment on National Public Radio.