Post Employment World

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Manpower Tries To Catch A Web Wave
Richard C. Morais, 05.20.09, 06:00 PM EDT
Forbes Magazine dated June 08, 2009

The world’s second-largest employment agency has a plan to thrive in the postemployee world.
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Grace Lee Boggs Suggested Readings re Post Capitalist Futures

Changing Concepts of Socialism, Changing Concepts of Revolution for our April discussion.

We suggest you read the following articles:

The Revolution Has Already Occurred by Rebecca Solnit (http://www.thenation.com/doc/20090323/solnit)

The US Is Facing a Weimar Moment by Robert Freeman (http://www.commondreams.org/view/2009/03/15)

Changing Concepts of Revolution (notes from Grace Lee Boggs - see www.boggscenter.org)

A Post Capitalist Future is Possible by Doug Henwood (http://www.thenation.com/doc/20090330/henwood)

Go to Harvard to Become a Bodhisattva?

The Harvard Crimson reported that in the class of 2007, ‘58 percent of the men and 43 percent of the women entering the work force took jobs in the finance and consulting industries.’ The figures were similar everywhere, from Duke to the University of Pennsylvania. Dan Rather, on his HDNet television program in December, reported that at Penn this was even true of “over half the students who graduated with engineering degrees — not a field commonly associated with Wall Street.”

In the bubble decade, making money as an end in itself boomed as a calling among students at elite universities like Harvard, siphoning off gifted undergraduates who might otherwise have been scientists, teachers, doctors, entrepreneurs, artists or inventors.

Barack Obama. “The big house and the nice suits and all the other things that our money culture says you should buy,” he said, amount to “a poverty of ambition.”

Howard Gardner, the Harvard education professor who has created seminars at several elite colleges to counsel students in the notion of pursuing meaningful, ethical and effective work — “Good Work,” as he has titled it.

New Deal was built from ideas developed in the Progressive Era and that the Reagan counterrevolution was the culmination of the conservative movement of the 1950s and ’60s, there is as yet “no counternarrative to replace ‘money is king.’

R.E.M. song “It’s the End of the World as We Know It (and I Feel Fine).” Its tone somehow reminded me of the stirring speech written by the American playwright Clifford Odets in his classic drama of the Great Depression, “Awake and Sing!” (1935). “Boychick, wake up!” the grandfather Jacob tells his grandson, Ralph, as the battered Berger family disintegrates in the Bronx. “Be something! Make your life something good … Go out and fight so life shouldn’t be printed on dollar bills.”
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John Stewarts’ Takedown of CNBC

Comedian Jon Stewart skewered CNBC, its analysts, its reporters and its guests last night on Comedy Central’s Daily Show. The video is a hit today on the web…

Read the rest and view the video here
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Greedy Bipartisan Culture of Entitlement and Crony Capitalism

  • helped create our economic meltdown (on Wall Street) and

  • failed to police it (in Washington).

  • cozy, lucrative relationships with the very companies he’d[any of our political leaders and public servants] have to adjudicate as health czar[or whatever post of responsibility and power].

Obama hoped to…

  • “close the revolving door” between business and government and
  • end our “two sets of standards, one for powerful people and one for ordinary folks.”

…too many major players in the Obama team who are either

  • alumni of the financial bubble’s insiders’ club or of the
  • somnambulant governmental establishment that presided over the catastrophe.

Most “ordinary Americans” still don’t understand why banks got billions while nothing was done (and still isn’t being done) to bail out those who lost their homes, jobs and retirement savings.

…as president of the New York Fed, he[Timothy Geithner, the Treasury secretary] failed in his oversight of the teetering Wall Street institutions. Nor has he told us why, in his first major move in his new job, he secured a waiver from Obama to hire a Goldman Sachs lobbyist as his chief of staff. Nor, in his confirmation hearings, did he prove any more credible than the Bush Treasury secretary, the Goldman Sachs alumnus Hank Paulson, in explaining why Lehman Brothers was allowed to fail while A.I.G. and Citigroup were spared.

Citigroup had one highly visible asset that Lehman did not: Robert Rubin, the former Clinton Treasury secretary who sat passively (though lucratively) in its executive suite as Citi gorged on reckless risk. Geithner, as a Rubin protégé from the Clinton years, might have recused himself from rescuing Citi, which so far has devoured $45 billion in bailout money.

Key players in the Obama economic team beyond Geithner are also tied to Rubin or Citigroup or both, from Larry Summers, the administration’s top economic adviser, to Gary Gensler, the newly named nominee to run the Commodity Futures Trading Commission and a Treasury undersecretary in the Clinton administration. Back then, Summers and Gensler joined hands with Phil Gramm to ward off regulation of the derivative markets that have since brought the banking system to ruin. We must take it on faith that they have subsequently had judgment transplants.

From Op-Ed Columnist
Slumdogs Unite!
By FRANK RICH
Published: NYT February 7, 2009

”Washington Park Beat” article by Dave Boucher and Carl Quindel on Economic Crisis and Milwaukee Housing for Ordinary People

From co-author David Boucher:

While the national economy continues to implode, there are many things we can do to support our individual and communal goals.

Simply, affordable real estate is always a good investment, particularly when persons in their own community can invest in their neighborhood. Doing this helps recycle wealth in a community and gain individual wealth and economic flexibility.

Washington Park Beat Issue 30 part 1

Washington Park Beat Issue 30 part 2
Warning, these files are each about 2 mb
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Paul Krugman’s Bailout narratives

October 1, 2008, 10:08 am

There seem to be two prevailing narratives about the bailout plan(s). Both have elements of truth, but are fundamentally wrong.

One narrative is that of the Wise Men and the Destructive Yahoos. According to this narrative, men who Understand What Needs to be Done put together a plan to save the world, but they did a bad job of communicating, and a mob of ignorant people stands in their way.

The other narrative is that of the Evil Plotters and the Righteous Uprising. According to this narrative, the same people who sold us the Iraq war have tried to bully Congress into adopting a plan that is, in essence, a cynical ripoff — a scheme to transfer vast wealth to the rich and cripple the next administration.

As I said, there’s some truth to both narratives. Many of those opposing the bailout are indeed destructive yahoos — read some of the speeches during the House debate. And yes, there were Iraq echoes in the way Paulson tried to ram his original plan through.

But both narratives are mostly wrong.

There’s a reason Paulson et al had such a hard time communicating the case for their plan — they didn’t have a very good case. To this day they’ve never been able to explain clearly why buying up bad mortgage assets at market prices will solve the credit crunch. The Wise Men, as far as I can tell, have never had a clear idea of what they’re doing.

My view, which I think is now shared by many economists, is that Paulson grabbed hold of the wrong end of the stick — he should have been seeking to expand bank capital, taking an ownership share in compensation, rather than trying to push up the value of toxic paper. In the end, that’s what we’ll probably do.

On the other hand, the way that Paulson et al have been blundering around puts the lie, I think, to the idea that this is a cynical ploy. Ideology certainly played a role — it’s probably a lingering distaste for Evil Socialism that made Treasury go for buying toxic waste rather than injecting capital. And if the Bush years have taught us anything, it is that sometimes conspiracy theories are right. But in this case the performance has been more Keystone Kops than Star Chamber.

So now what? Like Jamie Galbraith, I’d rather see Dodd-Frank-Paulson, which is much better than the original plan, pass than not. The true cost to taxpayers will probably be close to zero, and it would buy some time. But I’m not passionate about this. The real financial rescue still lies in the future, probably under the Obama administration.
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Last edited by Tyler Schuster. Based on work by Godsil.  Page last modified on May 22, 2009

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