Comments | ontd_political: Sorry about the previous attempt, new at this HTML stuff.

capthek in ontd_political

Sorry about the previous attempt, new at this HTML stuff.

Feb 02, 2009 21:54

A New New Deal under Obama?
John Bellamy Foster and Robert W. McChesney
http://www.monthlyreview.org/090201foster-mcchesney.php
With U.S. capitalism mired in an economic crisis of a severity that increasingly brings to mind the Great Depression of the 1930s, it ( Read more... )

new deal, barack obama

Comments 8

dingastar February 3 2009, 04:00:43 UTC

idk, idk.

andyh3000 February 3 2009, 05:02:07 UTC

We're getting some great articles here lately, thanks for this. I realize it's from a SOCIALIST OMG publication but it's still a pretty down-the-middle guns v. butter analysis up until the end (though I do agree with most of their conclusions/hopes/recommendations, full disclosure).

capthek February 3 2009, 05:29:26 UTC

Cool, ya, I mostly thought they had good facts and graphs that you don't see much.

zgirl714 February 3 2009, 06:04:23 UTC

If I agree with that article, especially the US oligarchy part, does that make me a Socialist? My friend is registered to vote as a socialist, but apparently she is on a list somewhere in the FBI because of it. 0.o

capthek February 3 2009, 06:29:48 UTC

Ya, someday people are going to realize that analysis like this makes lots of sense.

zgirl714 February 3 2009, 07:14:44 UTC

One can hope, but I doubt it. Most people think they are richer than they are. My Aunt is a hardcore republican and worried about Obama stealing all her money when trickle down economics has been screwing her and her business over for years. You'd think that someone with a master's degree would be smarter, but it takes all kinds I guess.

/debbie downer

hinoema February 3 2009, 06:27:24 UTC

Acknowledged (Office of Management and Budget) U.S. military expenditures in 2007 were $553 billion (4 percent of GDP), while actual U.S. military expenditures were $1 trillion (7.3 percent of GDP). Federal non-defense consumption and investment purchases in 2007 were, according to the Bureau of Economic Analysis, less than half federal defense consumption and investment purchases.

Our argument therefore is simple. Given that a political ceiling on U.S. civilian government purchases as a percentage of GDP has persisted for more than seven decades, it is unlikely that this will change without a massive, indeed social-transformative, struggle, despite a relatively progressive administration and the worst economic crisis since the Great Depression...

At the same time, the notion that military spending can provide an effective economic stimulus under present circumstances is dubious..."So in essence, military spending dwarfs domestic spending, while military spending prodices far less economic benefit than domestic spending? I'd say ( ... )

capthek February 3 2009, 06:28:33 UTC

No, its evil socialism, lol.
: )