The House on Tuesday issued an unprecedented apology to black Americans for the wrongs committed against them and their ancestors who suffered under slavery and Jim Crow segregation laws.

This is a real confidence builder. We can now go to sleep at night and rest assured that in one hundred and forty years or so, the blowhards in Washington will apologize for the hundreds of thousands of Iraqis blown to bits. Complacency=complicity…. mea culpa.. meaccomplice.

Tags: apology, slavery, slaughter

AN OPEN LETTER
TO ALL AIRLINE CUSTOMERS
From 12 Airline CEOs.

Hello Mr. ——–,

Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now.
For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers.
Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.
Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.
Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.
The nation needs to pull together to reform the oil markets and solve this growing problem.
We need your help. Get more information and contact Congress by visiting www.StopOilSpeculationNow.com.

Richard Anderson
CEO
Delta Air Lines, Inc.
Gerard J. Arpey
Chairman, President and CEO
American Airlines, Inc.

Bill Ayer
Chairman, President and CEO
Alaska Airlines, Inc.
Dave Barger
CEO
JetBlue Airways Corporation

Mark B. Dunkerley
President and CEO
Hawaiian Airlines, Inc.
Robert Fornaro
Chairman, President and CEO
AirTran Airways

Timothy E. Hoeksema
Chairman, President and CEO
Midwest Airlines
Lawrence W. Kellner
Chairman and CEO
Continental Airlines, Inc.

Gary Kelly
Chairman and CEO
Southwest Airlines Co.
Douglas Parker
Chairman and CEO
US Airways Group, Inc.

Douglas M. Steenland
President and CEO
Northwest Airlines, Inc.
Glenn F. Tilton
Chairman, President and CEO
United Airlines, Inc.

Under the American Jobs Creation Act of 2004, Washington also allowed
taxpayers to eliminate up to 100% of their alternative minimum tax
liability by using credits for any foreign taxes paid. Before tax year
2005, those credits could only eliminate 90% of federal income taxes.

High-income earners — guided by accountants and tax advisers — reacted
swiftly to the change, which remains in effect. In 2004, IRS data show
they reported $16.6 million in foreign tax credits. The following year,
the total credits claimed soared to $447.3 million.

Me, this is an article about people earning over $200,000 not paying ANY tax.

 Key words here:  American  Jobs Creation Act  of 2004  (jobs?)…. Allowed  taxpayers to eliminate 100% minimum tax liability…. For taxes paid in any foreign country… In one year the figure (economic drain) went from $16.6 million to $447.3 million.

They probably all had their flag lapel pins on when they voted this one in.. The war on America from within.

Story Here

Tags: taxes, economy, congress, American Jobs Creation Act

As I listened to the speakers, I was reminded that digital media and drug-dealing are the only two businesses I can think of that describe customers as users. That fundamental disrespect carries over to products and services.

Esther Dyson nailed this: “One day marketers will realize people don’t use the Web only to buy things. It’s as if newspapers were talking about themselves as classifieds-only, without even mentioning news and other editorial content.”

(Barry) Diller’s best line was about the insularity of Hollywood: “a community that’s so inbred, it’s a wonder the children have any teeth.”

Bill McKibben and his 2007 book, Deep Economy. And when I returned home, I opened it and looked through my underlinings. Essentially, McKibben argues that endless growth is no longer possible. We can’t afford the energy costs. And if global warming isn’t arrested — well, by one estimate, climate change could kill 184 million people just in Africa this century. McKibben’s solution: localization. It makes life manageable. And more collegial — did you know that Michelangelo’s Rome had 55,000 people and Leonardo’s Florence just 40,000?

The bad news: Our economic system is based on a crude, outdated model: More = better. Blinded by the mantra of growth, our leaders will try to make that model last as long as possible — even if they destroy the planet in the process.

McKibben points out that we — that’s Americans — suck resources out of all proportion to other countries.

McMansions: Until 1970, Americans lived in houses about the size of today’s garages.

Food: 75% of the apples sold in New York come from the West Coast or overseas, even though New York produces ten times more apples than its residents consume.

Energy: Americans use twice as much as Europe.

McKibben’s argument gains force when he gets down to examples. His idea of name-dropping is charming: “When I was last in Bangladesh….” Other stops on his travels: Brazil, China, India. And in each place, he discovers some brilliant innovation that saves energy and boosts the quality of life. (But that doesn’t take America off the hook. If rich countries don’t change, he says, the poor ones won’t — they take their dreams from us.)

this is a dumbing down process that promulgates gluttonous consumption as “american culture” and inculcates a mindless dutifulness and reverence for the economic elite…also, a recent study indicated that the actual content of network news telecasts actually has gone from covering corporate goings on and corporate ..ahem..”bnevolence” towards america to 22% of the content of their broadcasts in the past few years, up form 7% less than a decade ago..there you have it- nearly 1/4 of national news is now nothing more than the corporate- owned networks paying homage to and detailing the well being of corporations!…hence- the initial and continuing corporate media endorsement of a war virtually free of reasoned and factual discussion and debate…

Tags: economicobservations

•it is Corporatism. Brooks cares deeply for the Brooks Brand, so naturally he wants his brand to be successful with his customer base. While his commentary may be steeped in his prejudices, as it is with all of us, he has one additional objective and that is, brand relevance. If he were to start writing about facts, with real research and depth … he would be viewed as weak and among his customer base, a pariah.

He’s selling - not in any way reporting. While commentary - as Majd’s - is complete with facts, color and texture - Brook’s work is templated, ultimately conforming to a pre-determined message. Read anything he writes on the subject and you will see the pattern like a pair of argyle socks.

Binx101
The Almost Daily Binx

Tags: corpratism, David Brooks

Recent web quotes on the Scott McClellen “revelations”

Tags: Quotecloud

McCain Doesn’t Know What He’s Running For, Or Why

reddit_url=’http://www.theseminal.com/2008/05/26/mccain-doesnt-know-what-hes-running-for-or-why/’ reddit_title=’McCain Doesn’t Know What He’s Running For, Or Why’

digg_url = ‘http://www.theseminal.com/2008/05/26/mccain-doesnt-know-what-hes-running-for-or-why/’; digg_bgcolor = ‘#eaf0f4′; digg_skin = ‘compact’; digg_window = ‘new’;

Earlier
tonight, I saw John McCain on TV, declaring that he is running for “the
office of commander in chief”.  There is no such office.  Serving as
commander in chief is just one of the president’s constitutional
duties.  McCain’s declaration makes as much sense as saying he’s
running for “the office of bill vetoer”.

This may sound nitpicky, but it’s an important point.  We don’t live
in a military state.  Under our Constitution, the president is
commander in chief of the army and navy, not of the whole nation. 
Civilians are not obligated to follow the president’s every command. 
Presidents do a lot more than act as commander in chief (or should, at
least, if they’re doing their job).

McCain may fall back on the misconceived notion that he is running
for the nonexistent office of commander in chief because he doesn’t
know what else he wants to do as president.  As I previously noted, when Chris Matthews asked McCain what his presidency would be like, he was at a loss for words.

McCain’s mindset may be suited to a military state, a nation at
permanent war, but it is out badly of step with our constitutional
democracy.

Germany joins call for ban on speculation in oil

Submitted by cpowell on Mon, 2008-05-26 02:27. Section: Daily Dispatches

By Ambrose Evans-Pritchard

The Telegraph, London

Monday, May 26, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnoil1…

German leaders are to propose a worldwide ban on oil trading by
speculators, blaming the latest spike in crude prices on manipulation
by hedge funds.

It is the most drastic proposal to date amid escalating calls from
Europe, the US and Asia for controls on market forces, underscoring the
profound shift in the political climate since the credit crunch began.
India has already suspended futures trading of five commodities.

Uwe Beckmeyer, transport chief for Germany’s Social Democrats, said
his party would call for joint measures by the G8 powers to prohibit
leveraged trading on energy contracts. “It’s an extreme step but it has
to be done,” he told the Berlin media.

Mr Beckmeyer said the last 25 percent rise in the price of oil to
$135 a barrel had nothing to do with underlying supply and demand.
“It’s pure speculation,” he said.

Oil has doubled in price over the past year and the concerns are
echoed on Washington’s Capitol Hill where irate Democrats want rules
compelling traders to take delivery of crude oil, a move which would
paralyse the market.

There is now broad support in Germany for a clampdown on “locust”
funds. President Horst Kohler said modern capitalism had turned into a
“monster,” bringing the entire financial system to the brink of
collapse this spring.

The Social Democrats form part of Chancellor Angela Merkel’s ruling
coalition. Her own Christian Democrat Party shares concerns that funds
are causing a fresh bubble in commodities, risking further havoc for
the real economy and society.

In the long run, any scheme to ban futures trading would be
extremely hard to enforce as the markets would tend to move offshore.
Hedge funds are probably not the culprit in any case.

Speculators are split, with some betting that oil will fall. The
mass of money coming into the commodity indexes is mostly from pension
funds and long-term investors.

Oil markets are likely to shrug off the moves as political
posturing, instead focusing on Norway’s suspension of crude output at
three platforms, cutting supply by 138,000 barrels a day.

The news comes as Lloyd’s Marine Intelligence reported Opec oil
shipments fell by 1 million barrels per day in the four weeks to May 4,
confirming suspicions that the market has been chronically short of
supply.

"My beliefs have always been more or less of the same intensity. As long as the war
lasts I do not have much hope for the future."

http://cryptome.org/cia-mccain-pow/cia-mccain-pow.htm

Tags: Economy, Kevin Phillips, Paul B, Farrell