Samuel Merlo "Free markets mean harsh competition, but also low prices." Not according to history. At least recall Teddy Roosevelt's trust busting attempts. Think monopoly, cartels, conglomerates, big banks. They have sought to corner and control prices for greater profit.
Samuel Merlo *The above was neither a direct quote nor original. I cut it to fit. Harvey, David. "Neoliberalism on Trail." In A brief history of neoliberalism. Oxford: Oxford University Press, 2005. 163.
Samuel Merlo Global growth rates were 3.5% in the 1960s, when taxes around the world were much higher than today. In the 1970s growth slowed to 2.4%. With further tax cuts and Neoliberal ideology that concentrates wealth in a few, growth slowed to 1.4% in the 1980s, 1.1% in the 1990s, and barely 1% after 2000.
Samuel Merlo Most "wealth" generation has occurred in the financial realm since the 1970s. For example, S&P options grew from $11 bil in 1992 to $119 bil by 2000. That wealth is only paper valued with money supplied by banks and the Federal Reserve. It does not create true economic growth. Bubbles always burst
Samuel Merlo Yes financialization & speculation play important roles in production, but not when most paper wealth generation occurs without producing material goods. Bubbles always burst. Since the 1970s taxes have been exponentially dropping, but our econ growth is has slowed. $ is too concentrated in too few
Samuel Merlo But a recall depends upon a vast number of diverse constituents demanding one, not a single person or group with a "policy gripe." If a recall is demanded successfully through democratic plurality means, then a recall is not the abuse of democracy, but a tool for enabling it.
Samuel Merlo You make an assumption: Declaring the "economy is too fragile to decrease disposable income of any class of Americans" you ignore that the wealthiest Americans, namely the top 1% and .01%, have immense incomes which have increased since 2008. They invest in speculative trades, not productive growth.
Samuel Merlo A solution coming by global leaders? Probably not. A solution by the financiers and banks now in a frenzy over the crises they caused? Most likely not. A revolution in Greece and perhaps in Europe at large? All but assured... As George Soros predicted, the crises must climax in 2012. Election year!
Samuel Merlo A Romney presidency would be like four more years of Bush. I mean seriously, Romney is proposing the same tactics that have been employed in one form or another since the 1980s. Coming to a climax (hopefully) in the 2000s under Bush, these irresponsible sound bite positions contributed to 2008.
Samuel Merlo So is Facebook's sole goal profit generation? Doesn't that conflict with the majority of their young users who support civil liberties, democracy, freedom of expression, human rights and all the other pillars of modern society China undeniably violates in the name of routine governance?
Samuel Merlo I agree! But as things get worse, people will find it harder and harder to hide behind apathy. I think a time will come soon when Americans must wake up from their "political comma." It is unfortunate things probably have to get worse first, but at least there is something to be hopeful about too!
Samuel Merlo But when that wealth was made at the expense of society, and not by productive investments but by cost cutting and financialization with fictious capital, can you really call it wealth, or say it should not matter?
Samuel Merlo "...distracts from thoughtful debate on the merits, or lack thereof, of relevant policies." How so? This recall epitomizes relevancy, and if anything awakes political consciousness in people. I think you misunderstand democracy. It is not about simply picking a candidate, democracy is much more