The Washington Post and Supply Side economics in journalism

29 March 2009

Some of the reasons why the Europeans and Britain are reluctant to
commitment to Obama’s call for more capital to a general global
recovery are the same as why the European Union denied authority for
the GE – Dell merger a couple of years ago: to avoid corrupting the
European economic econoloy with Supply Side economics and the laissez-
faire, gold-based, Free Market principles of William F. Buckley, Jr.’s
conservatism. They have already been there, done that with
Corporationism and cultural warfare during the Third Reich.

For example, Andrew Alexander presented the various rationalizations
for degrading the Washington Post brand in Opinion of this instant: to
wit: “The Forces behind the Post’s Big Changes”. These
rationalizations may be pertinent to the present moment, but the
defining force behind the impending demise of the Post, as a proxy for
American mainstream journalism, is Donald Graham’s business model,
which is the same Supply Side ideological construct Frank Borman and
Frank Lorenzo employed to suck all the wealth out of Eastern Airlines
until it was basically sold for scrap after the Shuttle operation was
sold to Donald Trump. The whole economy is being run like this by the
spawn of the Harvard MBA program and the spawn of the Harvard MBA
program are running America with the same operational paradigm as
Robert MacNamara employed to run Vietnam. Supply Side economics
ubiquitous “doing more with less” has proven to be a self-fulfilling
prophecy.

In a distorted Free Market financial milieu such as the present
moment, more businesses will fail from a lack of capital than any
other thing, but in a normal, healthy Free Enterprise milieu, more
business fail from a lack of imagination than from a lack of capital.
I mean, that’s what’s been going on with the Big 3 auto makers during
the age of the SUV and in the airlines since PATCO and in the canyons
of high finance since the 1986 Tax Reform. Credit card companies have
found it is easier to steal from their customers with bogus service
charges than to actually provide service. The only difference between
Bernie Madoff and the predatory capitalism of the credit card
companies is that Joe Biden and Chris Dodd voted to make it legal for
the credit cards.

The difference between the financial paradigm of the Senate and Wall
Street is illustrated by the difference of the instrumental efficacy
between Lloyd Bentsen and Robert Rubin at Treasury. Bentsen was a
perfectly honorable and able steward, but he was totally out of his
league at Treasury. Bentsen’s financial model, as a proxy for
Senators of any particular stripe, is closer in operation to the
Finance Committee of the Texas Grand Cotillion’s Spring Fling than a
brokerage trading floor.

I reject entirely the Fascist assertion that government cannot create
wealth. I mean, Treasury bills are a uniquely American mechanism of
wealth and that’s just one example. The problem isn’t the creation of
this wealth. The problem is that all this wealth, plus the accumulated
wealth of the American middle class, has been methodically transferred
to basically the tax bracket associated with the AIG bonuses.

John McCain continues to dismay me with his stubborn inability to
understand that everything he believes he understands about economics
ain’t even close. On Meet the Press, he continues to persist in the
Supply Side remedy to let the banks fail. And the way he explained it
just now sounds more and more like the remedy to the S&L crises, which
was the greatest transfer of wealth from the American middle class to
T. Boone Pickens wing of the GOP in history. Democrats may be the
“tax and spend” impulse, personified, but Supply Side economics is
what Woody Guthrie means in Pretty Boy Floyd about some people
stealing from you with a six gun and some people steal from you with a
fountain pen, in a Tory Socialism, tax-and-steal kind of way.

Just for the record, if a Pulitzer was awarded for effete petulance in
the drive-by media, Evan Thomas would retire the category. He can’t
believe nobody is paying any attention to him and things seem to be
working in spite of that. His business/finance/economics model is
your basic liberal version of the laissez-faire, gold-based, Free
Market principles of William F. Buckley, Jr.’s conservatism that
informs Bob Samuelson’s column.

Bob Sammon was on FOX News Sunday amplifying the party line of the
stupid white male Bush voters in Congress regarding American
responsibility in the Mexican drug wars. Hillary Clinton was only
partly correct. America is not part of the problem: the War on Drugs
IS the problem. Again, the War on Drugs is a Supply Side agenda and
the Supply Side agenda is a Trojan Horse for the white supremacy
agenda of the George Gilder wing of the GOP. Which is pretty much
everybody. As I say, the War on Drugs is a Supply Side mechanism for
subsidizing the for-profit prison industry on the NYSE while
conducting cultural warfare against the African-American community as
national policy. The War on Drugs is doing for the cartels and the
Taliban what the 18th Amendment did for Al Capone. That’s the problem.

And that’s the truth.
.

Relevant Pages

  • Re: Who Gets the Most Government Spending?
    ... You claim that unfair accumulation of wealth through a tax code that favors the wealth is justified simply because a fair tax code is not possible. ... It was Adam Smith in "The Wealth of Nations" who originally argued that a free market is good for everybody. ... In the most, perhaps only, famous passage from an economics book, Adam Smith states, "It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest." ... There is no silent hand that protects the general population from the excesses of capitalism. ...
    (soc.retirement)
  • Re: The Washington Post and Supply Side economics in journalism
    ... European economic econoloy with Supply Side economics and the laissez- ... American mainstream journalism, is Donald Graham’s business model, ... Frank Lorenzo employed to suck all the wealth out of Eastern Airlines ...
    (alt.politics.bush)
  • Re: Calling on Bill Brock
    ... the laissez-faire economics of the late 19th ... century saw tremendous concentration of wealth in the hands of a few ... American Indians, Blacks and Asians flourished during the period. ...
    (rec.games.chess.politics)
  • It is up to the people of this country to not only drive out the Bush regime but also the system tha
    ... Beyond Capitalism: Problems and Solutions -- ... stimulated the economy. ... customary privatized wealth of capitalism. ... No one will ever accuse George Bush of being a traitor to his class. ...
    (soc.culture.cuba)
  • Re: Feminists Pledging Even Bigger Capitalist Bailout
    ... Obama sought to defuse the enormous public hostility to the financial ... supposed unique greatness of American society, ... The showdown between feminist capitalism and Masculinist Marxism is no ... declaring that under his administration the American government would ...
    (soc.men)
Loading