Year 10.
Wtf, what a year, eh? At least those of us who made it through... made it through. Just a few closing thoughts before that ludicrously pointless ball of Christmas tree lights falls, signaling the arbitrary beginning to another great year.
Economy. At the end of a tumultuous year, we are still at nearly 10% unemployment as it is currently calculated, meaning that it's probably closer to 16% in real terms, maybe higher. I can tell you that, of the family members and close friends who have lost a job in the past year to 18 months, 2 out of 3 are still looking for work. This is probably a familiar story across the country. And yet, some seem to be doing quite well. American businesses - and I mean BIG businesses - have amassed huge piles of cash over the past year. The stock market - and therefore, investors - are doing better. And on Wall
Street, the bonuses were fatter than a Christmas goose once again. (They've got a tax cut on the way, too.) Even with all that, they managed to take a swipe at Obama, who has done little more than wag a finger at them. There's gratitude for you.
War. Our glorious victory in Afghanistan was about nine years ago, one of the darkest winters I can recall, and the start of a long, bloody chapter in the history of American empire. Anything like the bloodiest ever? Likely not. It is just as well that we remember how many lives were lost in Korea in the early 1950s, in Vietnam in the 1960s and '70s, in Central America and southern Africa in the 1980s, and elsewhere. Even individually, they make Iraq and Afghanistan seem like relatively minor catastrophes, though either of our most recent wars would put us into Milosevic territory (and probably beyond). Still, Afghanistan has the distinction of being our longest war, as well as one we should have known better than to ignite (happy as we were to help strand the Soviets there during the 1980s).
Social Programs. Despite (and partially because of) the new health insurance reform bill, this has not been a good year for the social safety net. Political players are positioning themselves to implement massive cuts in Social Security and Medicare/Medicaid over the coming two years. They've ginned up fear of the deficit, sapped the federal budget with Obama's tax compromise, and set up the hurdles in advance, the first being the continuing budget resolution that will run out in March. Watch - that's when they will bring out the long knives. We'd best be ready for them. Read Dean Baker's excellent blog as well as Ezra Klein's interview with James Galbraith, and start talking to your friends about this ... yesterday.
Here's to a better year next time around.
luv u,
jp
Economy. At the end of a tumultuous year, we are still at nearly 10% unemployment as it is currently calculated, meaning that it's probably closer to 16% in real terms, maybe higher. I can tell you that, of the family members and close friends who have lost a job in the past year to 18 months, 2 out of 3 are still looking for work. This is probably a familiar story across the country. And yet, some seem to be doing quite well. American businesses - and I mean BIG businesses - have amassed huge piles of cash over the past year. The stock market - and therefore, investors - are doing better. And on Wall
Street, the bonuses were fatter than a Christmas goose once again. (They've got a tax cut on the way, too.) Even with all that, they managed to take a swipe at Obama, who has done little more than wag a finger at them. There's gratitude for you. War. Our glorious victory in Afghanistan was about nine years ago, one of the darkest winters I can recall, and the start of a long, bloody chapter in the history of American empire. Anything like the bloodiest ever? Likely not. It is just as well that we remember how many lives were lost in Korea in the early 1950s, in Vietnam in the 1960s and '70s, in Central America and southern Africa in the 1980s, and elsewhere. Even individually, they make Iraq and Afghanistan seem like relatively minor catastrophes, though either of our most recent wars would put us into Milosevic territory (and probably beyond). Still, Afghanistan has the distinction of being our longest war, as well as one we should have known better than to ignite (happy as we were to help strand the Soviets there during the 1980s).
Social Programs. Despite (and partially because of) the new health insurance reform bill, this has not been a good year for the social safety net. Political players are positioning themselves to implement massive cuts in Social Security and Medicare/Medicaid over the coming two years. They've ginned up fear of the deficit, sapped the federal budget with Obama's tax compromise, and set up the hurdles in advance, the first being the continuing budget resolution that will run out in March. Watch - that's when they will bring out the long knives. We'd best be ready for them. Read Dean Baker's excellent blog as well as Ezra Klein's interview with James Galbraith, and start talking to your friends about this ... yesterday.
Here's to a better year next time around.
luv u,
jp
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