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pedro
Senior Contributor

Re: Politics as usual, but it's definitely time for campaign finance reform

Term limits anyone? My biggest disappointment in the recent election was Russ Feingold's loss, but really he had been there long enough...time for him to get back in touch with the real world. I expect term limits would devolve into tag team matches. We will likely undergo a change in the form of our government before we have a change in the form of our governing.

cotman03
Veteran Contributor

Re: Politics as usual, but it's definitely time for campaign finance reform

The problem I have with term limits is that the bureaucrats, the non elected government employees who implement policy, will have even more power than they do now.  They have alot more power than most people realize.  By the time a newly elected politician learns the ropes, that politician will be termed out.

tomtoolbag
Veteran Advisor

Re: Politics as usual, but it's definitely time for campaign finance reform

  Johnson was actually everything that the teabaggers supposedly despised, but he hid it well and the key reason that he won was because he wasn't a democrat.

  Your remark about his length of time has a lot of merit and it's similar to professionals of every sort that go into teaching at the college level. When someone has been out of any industry or profession a long time they eventually lose grasp with the current trends and concepts and how to deal with them or solve problems accordingly.

  I would like to see Feingold run for governor in a few years because he would do that office and the state well. The exit from the senate may bring that to fruition otherwise he would have retired a senator.

tomtoolbag
Veteran Advisor

Re: Politics as usual, but it's definitely time for campaign finance reform

  A lot of people don't realize that either, and the career bureaucrats that actually run things end up schooling the incoming cabinet heads on how things are run. That's why there's little to no change other than the focus of attention on certain issues. Most politicians won't and don't mess with the entrenched people for fear of the embarrassing backlash that comes if they do.

bruce MN
Veteran Advisor

Re: Politics as usual, tom....

You ask:

 

"I wonder what will happen when the SHTF for real?"

 

It is going to be interesting to see just how acute the perspective on where the #### came from will be. There is no question that it is going to. Non producing real estate remaining marked at 5X,10X, 50X or more of any even remotely concievable actual value to anyone on assett ledgers alone will gaurantee it.  It won't have to be much more than it is now to trigger a irretrievable banking collapse and total lose of investor confidence. When the revelations and discussions turn to commercial RE from residential is likely going to be the flashpoint.

 

The GOP gains in the 2010 elections virtually gaurantee that they will be running the government for the next 6-10 years (short of the Democrats somehow figuring out a way to drasticly modify the fillibuster rules sometime in the next 25 months).

 

The inability of the Obama administration to magically restore pre GWB prosperity by mere acclaimation over 2 transitional years won't be likely to fill up much in the range of vision as how we got to where we are going is observed. The little that they have pulled together in terms of policy may in fact be looked back at longingly.

 

Only other thing that could have been done by the new President was to attempt to appoint people like Simon Johnson, Eliot Spitzer, William Black, Elizabeth Warren etc. to posts at Treasury, Justice, SEC and the Federal Reserve. But if he had, fellow Democrats Rahm, Chris Dodd,  Joe Leiberman and the like would have told him not to...fought him tooth and nail on it.. and the stark truth of the matter is that well over half of the Democrats in the Senate would have opposed the nomination of any those folks back in early 2009, or other nominees cut from the cloth that they are. DURBIN WAS RIGHT..."owned by the banks" as they are and you'd have seen it up in lights.

 

It's been a zero-sum game since Sept. of 2008...I'm confident that when the stuff starts to splatter off of the blades that is where attention will be focused. And I'm fully disclaiiming that there won't be a bunch of Democrats who wont be just as covered with it as any Repbulicans. We've got a real s####y mess on our hands, with only the tip of it sticking out.

GreaTOne_65
Senior Contributor

Re: Politics as usual, tom....

Oily, save your time responding to my posts, I haven't nor will I waste my time reading ANY thing you write, and I mean ANY thing you write, even to other posters. Your an ignoramus, and I won't spend one second of my valuable time reading your nonsensical drivel.

bruce MN
Veteran Advisor

P.S. tm...I just ran across this...

I had no idea that there even could be something such as a progressive hedge fund manager.

 

Good stuff here:

 

http://www.nakedcapitalism.com/2010/12/marshall-auerback-dont-get-angry-%e2%80%93-get-some-real-chan...

tomtoolbag
Veteran Advisor

Re: P.S. tm...I just ran across this...

  That article hits some areas that I wish he would of delved into a little more. Obama's problem is that he continually lets the republicans pick the topic and set the tone of any discussion, and he's constantly on the defense, instead of picking what HE wants to discuss. But, in a perfect world the government would only require X amount of dollars to maintain the stability of the economy and to ensure peak employment, like what the author alludes to. I really don't have a problem with a large government debt other than the (some, not all of it)lost productivity of the interest on that debt and the fact that it is spending money back into the economy, it's not like this country and all of it's capacity for productivity will cease to exist if the government goes belly up. My problem is where it's constantly being spent and how little the applicable effectiveness is, but it's still spent or directed to the same areas that have little impact. The government should either start at the beginning of the consumer chain or piece-meal the flow of funds to ensure that the intended results happen.

  Another thing that I just can't believe is even being considered is to do a holiday on Social Security payments. It's one of the few programs that works as intended and is funded and not contributing to the debt or budget deficit. They should consider dropping federal income tax withholding requirements up to say 75% of median wages, but still require the W-2 forms so the income tax reporting would verify deductions. If the right wing is to actually be believed on who supposedly pays income tax into the IRS, it's a loss to even go through the motions. Recently there were some changes as to the transparency of expected income tax returns and how the short term loans to banks and income tax preparers will lose a steady and usurious flow of cash that will more than likely help as intended. 

bruce MN
Veteran Advisor

Re: P.S.. tom...I just ran across this...

BIggest mistake has been to have been talked into viewing the conditions that turned into the events of Sept. 2008 as a mere cyclical crises and not, rather , at the crimes that they exposed and at  the very predictable failure of amoral and corrupt crony capitalism to serve more than just a few.

 

The administration has played party to the "rising tide lifts all boats B.S." of ongoing Reaganist wealth transfer economics just as the crack in the hull has turned into a chasm.

 

A change in approach will have to come....or he's going to completely run out of steam by spring.

 

My old Uncle says that "they"...he's big on "they" .....are simply trying to hold off the horrors that will come with the truth until after the holidays and then try to stall off the the revolt until warm weather.

 

And FWI...What is with the Bible thumpers and the wingers for not being Fred Phelps level up in arms over what is going on in Arizona with denial of health care to the dying, AKA de-facto euthanasia, by tea bagger Gov. Phyliiss Diller's sister? Is the template for modern conservative health care going to be death czars? I'd think I'd rather take my chances with a panel.

tomtoolbag
Veteran Advisor

Re: P.S.. tom...I just ran across this...

  Obama's "handlers" are all complicit in the huge housing bust scam, that's why they positioned themselves so close to him, to head off any punishment but also to point the finger to some other source of blame. When he first campaigned he had a Pritzker family(they essentially wrote the book on the mortgage swindle and mess) member as one of his "advisors", and so did McCain. That was the indication that signaled the coming hands-off mentality of the fallout. Everybody put their focus and faith in the star quarterback, instead of the offensive coordinator.

  I kind of see things coming unglued after the first of the year while the weather is the worst or harshest for most of the U.S. The warm weather in some parts is heavily populated by retired and elderly folks and scared illegal immigrants that really aren't too dangerous and can be easily swayed to follow along. There aren't too many people that would be willing to assemble to protest or other when they aren't just hungry but cold too. The 10-20 degree temps will hinder some activism by the majority of people, and especially when you factor in children. 

  The teabaggers don't have a problem with Arizona's health care shut off because they've been convinced that those people are either brown-skinned or bottom feeders and losers of society, but don't realize that just a couple of small blips in their life and they're in the same boat with them. Well, all that and the party or method of delivery. They'd be so incessantly outraged and obnoxious if that governor was a democrat.