Economic Ipecac
enlarge If you don’t know what ipecac is, it’s stuff that makes you vomit. These three news items came in one right after the other, and the combination had the same effect as a dose of the nasty stuff. First, the chart above, courtesy of Talking Points Memo . It illustrates the share of corporate profits workers aren’t getting. On the other hand, (and offered as the second item) the corporations are doing quite well , but of course, there are no jobs being created. Finally, we have US Chamber of Commerce President Tom Donahoe, who is arguably one of the most evil men to ever be in a position of power saying this to the Metro Atlanta Chamber of Commerce: “Major corporations are sitting on $2 trillion,” Donohue said, adding that they are cautious about investing those dollars because of the uncertainty of new rules and regulations. “People are holding onto their money.” With the potential “explosion” of regulations, Donohue said the U.S. Chamber has its own law firm that regularly sues the federal government in an effort to protect the nation’s business interests. What baloney. This notion that regulations are causing uncertainty is another Big Lie that gets told routinely to justify the efforts of corporations to sit on investment and expansion until they get their way. Turn blue, corporations, go ahead. But Donohue didn’t stop there. He took aim at the ultra-conservatives who think holding the debt ceiling hostage is a problem. However, I don’t view what he said as something to celebrate. It’s pretty sickening, actually. Yes, it will be raised, Donohue answered, mainly because the country can not afford to not pay its bills. To those newly-elected representatives who say they aren’t going to raise the debt ceiling and will shut down government, Donohue said the U.S. Chamber has its own message: “We’ll get rid of you.” He then went on to praise U.S. House Speaker John Boehner for his Congressional leadership. “He’s growing into his shorts,” Donohue said. “He’s put on his big boy pants.” That message — the “we’ll get rid of you” threat — should turn the stomach of every American regardless of their political ideology. This notion that elected representatives must do the bidding of the US Chamber of Commerce and their contingents or they’ll be “offed” politically is the most thuggish, overt exercise of corporatism in politics I’ve ever seen.
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on June 14, 2011. Filed under