Nel's New Day

November 21, 2012

Peace, Economic Security a Little Closer

Today’s Best News:

Israel and Hamas have agreed to a 72-hour cease-fire in Gaza after eight days of rocket fire and retaliatory Israeli air strikes left at least 100 Palestinians and three Israelis dead. Secretary of State Hillary Clinton vowed to pursue a “comprehensive peace,” suggesting the Obama administration will rekindle two-state peace talks that have been frozen for the past three years over disagreements about Israeli settlements and future borders.

Occupy Wall Street (by now it seems to be Occupy the World) has come up with a great idea: the Rolling Jubilee project. When people can no longer pay their debts, individuals or companies can buy these debts at pennies on the dollar and then try to collect something from the people who owe money. Occupy has decided to buy these debts—and then forgive them. Even Forbes likes the idea. To test the idea, Occupy purchased $14,000 worth of outstanding loans for $500 and then pardoned the debtors. Now they are looking for donations to expand the project. Thus far they have managed to wipe out almost $10 million of debt for less than $50,000.

Occupy used Iceland for their model. After that country’s banks forgave loans equivalent to 13 percent of the GDP, Iceland’s consumer debt, its economy grew at 2.5 percent in this year’s first quarter. The result is expanded consumption, increased wages, improved standard of living, and no economic collapse. The banks’ action eased the debt burdens of over one-fourth of the country’s population.

Contrary to the beliefs of most conservatives, the U.S. “federal deficit has fallen faster over the past three years than it has in any such stretch since demobilization from World War II,” according to Matt Yglesias. This year the $1.089 trillion deficit is $200 billion smaller than last year and almost $300 billion smaller than when Barack Obama became president. This is not necessarily good news for economists because such a fast reduction in the deficit could lead to a recession, but learning about it might shut up all those candidates who use the deficit to whip the president. This chart, showing the rise and fall of the deficit over the past 60 years also indicates that Democrats seem to do better than Republicans. It appears that the liberals always have to clean up after conservatives. At least the Republicans shouldn’t be able to destroy the decrease in the deficit during the next four years.

 

 

 

 

 

 

 

 

The last piece of good news for today is that people in the United States may become more educated. There was a time when progressives felt that Fox News had a permanent stranglehold on the country’s population. Study after study showed that people watching Fox were more ignorant of political facts than those who didn’t follow any news, but the number of watchers kept growing. There’s a chance that Fox’s popularity is winding down. During the eight days after President Obama’s re-election, MSNBC’s average audience for the key 25-54 year old demographic drew about 8% more viewers than Fox, according the Nielsen ratings.

Two programs were at the top of the MSNBC lineup. Rachel Maddow won seven of the eight days against her Fox competition, Sean Hannity, beating him by an average 18 percent, and her 544k average was second to only Bill O’Reilly in all of cable news. Lawrence O’Donnell won all eight days against Fox’s Greta Van Susteren with a margin of victory of 17% for the eight days. Hannity, perhaps the most strident partisan host on Fox, frequently invites on his show Dick Morris, the man who loudly claimed the errors of polls indicating the president’s defeating Romney. Van Susteren has a close association with friend and client of her husband, Sarah Palin. The question is whether Fox will become more reasonable to keep an audience or ramp up the rhetoric of hatred and fear.

I’m guessing that the majority of conservatives had no idea how many lies the Republican candidates, led by the master of mendacity Mitt Romney, told them in expensive advertising. If the trend of watching MSNBC continues, the voters in the next election will be more aware of facts rather than Fox pundits’ impassioned attempts to sway the voters’ opinions through the largest collection of lies in any general election campaign since the invention of television.

In the election that seems so long ago but was decided only 15 days in the past, the majority of people voted for Democrats both in Congress and in the presidency. This happened despite the Republicans’ attempt to weed out Democratic voters across the country. Republicans need candidates who can win on their own merits, not through lying to voters and suppressing the votes. Maybe they will learn this.

 

1 Comment »

  1. Great post Nel. Thanks for explaining the Rolling Jubilee project (wonderful idea!). I have been getting emails about it but haven’t taken the time to read them (I currently trying to weed out the number of political emails I get so that I will take the time to read the ones that I deem to be important.

    Like

    Comment by Central Oregon Coast NOW — November 22, 2012 @ 2:15 PM | Reply


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