Rob Wittman never had much to say about broadband internet access in the Congressional District he represents until the issue came up in the Democratic Primary this spring. Much of the district is rural and without connection to the web services that stimulate economic development, support businesses and allow remote access to medical care. They are without this connection because private markets do not provide what amounts to a public utility in remote areas, and no amount of deregulation will make them want to. The return on investment simply isn’t there.
Back in the day, much of Tennessee had a similar problem with electricity. The Federal Government, not private enterprise, solved the problem through the Tennessee Valley Authority, a New Deal Democrat effort to modernize rural areas of the state. Could we learn something from this very successful effort? Continue reading
Federal prosecutors indicted GOP Representative Chris Collins for insider trading yesterday. Collins represents the 27thDistrict in northwestern New York and was an early Donald Trump supporter. Right now his website touts three Federal grants to improve sewer, airport, and firefighting infrastructure in his district, which is how I suppose he expects to achieve his “Vision: The United States of America will reclaim its past glory as the Land of Opportunity, restoring the promise of the American Dream for our children and grandchildren.”
I guess it’s good to know that at least one GOP rep thinks Government works and should intervene without waiting for markets to allocate resources to regional airports and municipal sewer systems. But since Collins voted for the tax “reform” act last year, he must also think borrowing money that his grandchildren will have to pay back will restore to them the “promise of the American Dream.” Low taxes for corporations now and higher taxes for everyone else later sounds like the “Land of Opportunity,” all right – if you’re a corporate CEO or shareholder. Continue reading
Yves Smith (aka Susan Webber), a management consultant and principal at Aurora Advisors, writes at Politico that the “highly educated, high-income, finance-literate readers of my website, Naked Capitalism, don’t just overwhelmingly favor Bernie Sanders. They also say “Hell no!” to Hillary Clinton to the degree that many say they would even vote for Donald Trump over her.”
They (9 out of 10 Smith friends polled) developed their “conclusions” from “careful study of her record and her policy proposals,” and believe the Clintons represent a policy status quo of “crushing inequality, and an economy that is literally killing off the less fortunate.” And they think “the most powerful move they can take to foster change is to withhold their support.” Continue reading
I’m glad I ran across this Salon article challenging the notion that Donald Trump and Bernie Sanders appeal to similar populist constituencies. Don’t both Trump and Sanders “confront ‘establishment’ hegemony and voice small-fry ‘populism,’ plus condemn bad trade agreements, job losses, and Washington insiders?” No, Becker says:
Sanders is not like Trump or vice versa: despite surface parallels, they are at heart more like polar opposites. In the end this measure emerges: the unassuming Sanders presents people-oriented messages that widen debate and insight. Trump’s proto-fascist, wealth-driven demagoguery kills debate with deceptive, irresponsible war cries that deter thinking and enlightenment.
I guess I agree as far as it goes: the contrast between Sanders’ intellectual and Trump’s demagogic arguments are…wait for it…yuuuuge. But I see a much more important difference: Donald Trump sells himself as the best player of the Capitalism game. Bernie Sanders makes a case that the game itself is rigged, and the rules need to change. Continue reading