The senator from Wall Street takes the floor…
The Democratic Senators who lost re-election betrayed their base, the ones who fought for the people won. Time to purge all the corporatists from the party. Have a bad representative or senator? Find someone to challenge them in a primary and start working TODAY!
“It would be hard for Dem senators to think that cooperating with Republicans on financial policy is helpful to winning re-election,” says a bank lobbyist.
While you weren’t looking
The House voted on the biggest rollback of Wall Street regulations since the financial crisis. While the bill would change many regulations for regional and community banks, analysts say it is not a total dismantling of the Dodd-Frank Act.
A few farm facts for your Thanksgiving dinner:
• The vast majority of farms are in fact “family farms” meaning they are not owned by corporations, but by households.
• Despite huge productivity gains, the majority of these farms (~70%) net less than $20k per year, requiring off-farm jobs from members of the household.
• The reason for this is the unceasing suppression of prices. The price of corn, milk and all other farm commodities is well below the cost of production, requiring support through the farm bill and putting entire sectors of the economy at risk of extinction.
• Family farms typically work on contracts with “big ag” – companies like Perdue, Smithfield, Monsanto, etc.
• “Big ag” is not agricultural. It is a corporate layer to manage the sourcing, selling, and PRIMARILY the price manipulation and speculation on farm commodities.
• Big ag does not even own much in the way of infrastructure – grain storage, slaughterhouse, meat-packing, shipping, etc. These too are usually smaller privately-held companies working at will or on contract for the large corporations.
• When we talk about “big ag” we’re talking about Wall Street. If you want to understand how this works read “Merchants of Grain” by journalist Dan Morgan, which explains the business model of Cargill, the world’s largest privately-held corporation.
• Here’s the upshot – big ag needs a monopoly not so they can profit on retail sales. The monopoly on contracting and pricing, and precise knowledge of farmer activity gives companies like Cargill a monopoly on INFORMATION, which they leverage into price suppression and success in the commodity futures markets. Why do you think the Chicago Mercantile Exchange turns over $1 quadrillion per year in mostly agricultural futures?
That is big ag’s harvest, and farmers pay dearly for it. Cargill and Butterball can’t afford to let turkey farmers or any other farmers have independence and leverage because it takes away this monopoly.
There are two simple federal laws that will solve this problem, put family farms back on the road to prosperity, and help grow and modernize rural America.
1) A 1% Wall Street Sales Tax. A tax on derivative speculation will hit big ag harder than anyone, and totally change the perverse incentives in agriculture.
2) “Parity”- a guaranteed federal price floor for agricultural commodities. The USDA monitors the production cost of every commodity – factoring in the costs of land, labor, fuel, seed, etc. Farmers must be guaranteed a price for what they produce that reflects those costs plus a livable wage. This requires only a threat from the USDA to purchase these products, and food marketers have no option but to pay the same.
Happy Thanksgiving, and please spare a thought for the hard-working, too often overlooked family farms that put food on your table today!
It’s payback time! ??
The former president is reportedly raking in $400,000 per speech to massive financial firms
Eight months of a Trump presidency.
– White supremacists marching in the streets, emboldened by the openly white supremacist advisors in the White House and the president’s incitement and enablement, even today, of their violence.
– The worst nuclear crisis since the Bay of Pigs, created 100% by the ignorance, incompetence and self-absorption of the president.
– Alienation of almost every major U.S. ally in the world, and dangerous random fight-picking with adversaries (except Russia).
– Compromising of crucial U.S. intelligence by the incompetence and/or gullibility of Trump toward Russia, if not collusion.
– Impending explosion of health insurance rates across the market due to Trump’s deliberate sabotage of the U.S. health care system in order to repeal an accomplishment of Obama, when he doesn’t even understand how the law works. Not to mention continued pursuit of dumping millions from health insurance, period.
– Standing alone in the entire world in the denial of climate change science and withdrawal from the Paris Accord.
– Attacks from the federal government on the basic human rights of LGBTQ citizens.
– Major efforts to suppress the voting rights of people of color in order to keep white supremacists in power beyond these next few years.
– A return to a racist criminal sentencing system that had previously been abandoned by both parties because of the inhumanity and expense (financial and societal) of mass incarceration.
– Systematic rollback of environmental protections and consumer protections in favor of short-term corporate profits.
– The beginning dismantlement of public education.
– Harassment and arrest of hard-working, peaceful undocumented immigrants with no criminal records, striking fear in tens of millions of Americans who are key to the U.S. economy and the success of communities all over the country.
– Attempts to scale back legal immigration, with an aim to make America more white by weighting the rules accordingly.
– Elimination of efforts to investigate white supremacist terror groups in the U.S. with resources shifted to targeting Muslim Americans who’ve been responsible for a small fraction of the terrorism perpetrated by white supremacists in the past 15 years.
– Major gaps and negligence in the management of federal agencies that are the only thing protecting us from widespread cyber attacks, public health emergencies, and the compromising of our nuclear supply.
– Use of the office of the presidency to personally profit, with close to zero transparency or limits on how Trump businesses benefit from his power and position and how those businesses take money from foreign agents and others with business before the federal government.
– Evidence – provided by Trump’s son himself explicitly, on top of all the other stuff that has come out – that the Trump campaign sought to, at a minimum, and may have succeeded, in colluding with the Russian government to win a U.S. presidential election.
I’m forgetting a bunch of stuff …
Real estate speculation and privatization are bad……when it happens to rich people in San Fransisco
“Unsurprisingly, the residents were more than a little upset when they belatedly found out what had happened.”
Thanks to a little-noticed auction sale, a South Bay couple are the proud owners of one of the most exclusive streets in San Francisco – and they’re looking for ways to make their purchase pay. The couple’s purchase appears to be the culmination of a comedy of errors involving a $14-a-year property…