Showing posts with label vulture capitalists. Show all posts
Showing posts with label vulture capitalists. Show all posts

Monday, October 29, 2012

Down To The Wire It Is All Lies All the Time For Romney

















Down To The Wire It Is All Lies All the Time For Immoral Mitt Romney

How desperate is Mitt Romney to win Ohio? Before you answer, pay attention to what he and his campaign have been saying about the auto industry in the last few days.

As you may have heard, Romney on Thursday scared the bejeezus out of Ohio autoworkers when, during a rally, he cited a story claiming that Chrysler was moving Jeep production to China. Thousands of people work at a sprawling Jeep complex in Toledo and a nearby machining plant. Many thousands more work for suppliers or have jobs otherwise dependent on the Jeep factories. It’s fair to say that they owe their jobs to President Obama, who in 2009 rescued Chrysler and General Motors from likely liquidation. If Chrysler moved the plants overseas, most of those people would be out of work.

The story turns out to be wrong. As Chrysler made clear the very next day, in a tartly worded blog post on the company website, officials have discussed opening plants in China in order to meet rising demand for vehicles there. They have no plans to downsize or shutter plants in the U.S. On the contrary, Fiat, the Italian company that acquired Chrysler during the rescue, just spent $1.7 billion to expand Jeep production in the U.S. That includes $500 million to renovate and expand the Toledo facilities, with 1,000 new factory jobs likely to follow. On Monday, about the same number of people will report for their first day of work in Detroit, when Chrysler adds a third shift to a Jeep plant it operates there.

Did Romney intend to mislead Ohio voters? I was prepared to give him the benefit of the doubt. Presidential campaigns are chaotic, particularly in their final weeks. Maybe somebody on Romney's staff read the story, which bubbled up in the right-wing press and included a genuinely confusing statement from Fiat, and gave it to the candidate without checking its veracity. But, even after Chrysler clarified its intentions, the Romney campaign refused to answer questions from reporters about the erroneous claim. Now I think I know why: A new Romney ad references the same story.

The campaign does not appear to have announced the ad. The Obama campaign captured video of it, during a broadcast in the Toledo area. Here's how it ends:

    Obama took GM and Chrysler into bankruptcy, and sold Chrysler to Italians who are going to build jeeps in China. Mitt Romney will fight for every American job.

Although the statements about Chrysler are true individually, together they imply that the Obama Administration's action led to the outsourcing of American jobs. That is obviously false, both in the specific sense of what Chrysler is doing and in the more general sense of what the entire auto industry is doing. Just look at the numbers (or the graph below). According to the Bureau of Labor of Statistics, the number of autoworkers fell almost in half between 2002 and 2009, from around 1.1 million to around 600,000, as the industry was in something like a death spiral. Then, as Chrysler and GM were on the brink of true collapse, the Obama Administration stepped in with federal loans and a managed bankruptcy. Almost immediately, the automobile manufacturing sector started growing again. Since July, 2009, the workforce has risen by about 150,000 jobs and that's purely in manufacturing. If you include parts manufacturing and other related jobs, it's 250,000.

And that's the net increase. By providing Chrysler and GM with the financing they needed to avoid liquidation, the Obama Administration prevented those companies from putting more people out of work Overall, according to estimates by the Center for Automotive Research, the rescue probably saved at least a million jobs.

Of course, this kind of deception is emblematic of the campaign Romney and his supporters have waged in the last few days. They insist that Romney never thought government should let Chrysler and GM collapse. But Romney's vague and inconsistent rhetoric included statements that he would have opted for a “private sector bailout”—something that was not possible in 2009, because private investors were in no position to make the necessary loans.* As Detroit Free Press columnist Tom Walsh wrote on Friday,

    Throughout the primary campaign, [Romney] joined other Republican candidates in a chorus of bailout-bashing and union-bashing when the auto bailouts came up, painting the Obama administration's crisis-management effort as a reckless campaign to run up the national debt and do favors for labor unions.

Romney’s advisers have also tried to downplay the importance of the issue altogether. A Romney strategist recently told Politico’s Mike Allen that Obama’s constant invocation of the rescue makes the president a “one-trick pony,” even though one of eight jobs in Ohio is tied to the auto industry.
Mitt can use all the lipstick in the world, he'll still be a pathological lying pig. When a pol has to lie this much to sell their agenda, its past time for buyer beware, and time for caring Americans to say enough of this garbage passing for public policy answers.

Tuesday, May 22, 2012

Michele Bachmann(R) Was Critical of Bain and Romney. Now Conservative Republicans Are In a Panic Over Bain Attacks



















Michele Bachmann(R) Was Critical of Bain and Romney. Now Conservative Republicans Are In a Panic Over Bain Attacks

1. CAN’T BEAT OBAMA — “He cannot beat Obama,” Bachmann told ABC News in December. “It’s not going to happen.”

    2. ‘NEWTROMNEY’ — During the moment that Newt Gingrich was on top, Bachmann lumped the two leading candidates together as single entity — “NewtRomney” — a corrupt insider who supported socialized Medicine and other nefarious liberal polices. “When you take a look and people say this is a two man race I would agree, but the one man is ‘NewtRomney’ and the other man is Michele Bachmann, the only proven consistent conservative,” she told CBS News.

    3. ROMNEY WRONG ON IMMIGRATION, CLIMATE, STIMULUS — Bachmann went on to say that ” ‘NewtRomney‘ are on the same side as the president when it comes to cap and trade, the $700 billion bailout, illegal immigration, even the payroll tax this week.” “NewtRomney” also “advocated for the healthcare mandate,” she said.

    4. ‘BIG GOVERNMENT CANDIDATE’ — During a debate in Iowa, Bachmann charged that “Mitt Romney is the big government candidate.”

    5. ‘CHAMELEON’ — In a speech in Florida, Bachmann called Romney a “chameleon” for his propensity to change positions in the political winds.

    6. NOT PRO-LIFE — At the same speech, she said, “If you look at Mitt Romney, he…has been very inconsistent on his positions. He has been both sides of the abortion issue, on both sides of the issue of same-sex marriage.”

    7. PRO-GAY MARRAIGE — Bachmann accused Romney of signing “189 same-sex marriage licenses.” This attack was false, but Bachmann said it cast doubt on Romney’s willingness “to fight against same-sex marriage.”

    8. INDIVIDUAL MANDATE — Bachmann repeatedly hit Mitt Romney for implementing the antecedent of ObamaCare while governor of Massachusetts, saying the dreaded individual mandate “was Newt Gingrich’s idea, and Mitt Romney implemented it.”

    9. NOT COMMITTED TO REPEALING OBAMACARE — Bachmann often criticized Romney’s plan to repeal Obamacare, which she said didn’t go far enough. “You’ve got to full-scale repeal it, and I don’t think the governors have that level of commitment to do it,” she said in a radio interview in Iowa.

    10. ROMNEY ENDORSEMENT FALSE — Back in February, Bachmann seemed to take offense at the prospect of endorsing Romney, demanding the Boston Globe retract a “completely false” story reporting that negations were in the works. “Let me be absolutely clear — there are absolutely no negotiations between me and the Romney campaign regarding any pending endorsement of Governor Romney,” she said in a statement.

Texas Gov. Rick Perry(R) also said of Romney, "'There were a couple of times when I wondered whether I was going to get a pink slip.' He actually said this. Now, I have no doubt that Mitt Romney was worried about pink slips, whether he was going to have enough of them to hand out."

Who Really Caused The Deficit? (CHART)

Anti-Progress Conservatives at  Daily Caller Distorts American Jobs Created By Green Energy Loans. The Daily Caller recently reported that "$3.1 billion in DOE loan guarantees" to First Solar "created mostly overseas jobs." In fact, the chairman of First Solar testified before Congress that "all the jobs directly created with the loan guarantees" are American.

The Daily Caller embedded video of his testimony in its report, but apparently didn't watch it all the way through. Neither did right-wing news aggregator Weasel Zippers (the infamous America hating web site), which ran with a similarly misleading headline.

Its the new conservative values - lie all the time about everything. Then sit back and hope some of the propaganda sticks.

Monday, April 2, 2012

This Week's Biggest Conservative Enemy of the Working Poor and Middle-Class - Paul Ryan (R-WI)

























This Week's Biggest Conservative Enemy of the Working Poor and Middle-Class - Paul Ryan (R-WI)

Our new report shows that House Budget Committee Chairman Paul Ryan’s tax plan would provide $265,000-a-year tax cuts to the nation’s highest-income households.  Here’s an excerpt:

Even as House Budget Committee Chairman Paul Ryan’s budget would impose trillions of dollars in spending cuts, 62 percent of which would come from low-income programs, it would enact new tax cuts that would provide huge windfalls to households at the top of the income scale.  New analysis by the Urban-Brookings Tax Policy Center (TPC) finds that people earning more than $1 million a year would receive $265,000 apiece in new tax cuts, on average, on top of the $129,000 they would receive from the Ryan budget’s extension of President Bush’s tax cuts. . . .

Millionaires Would Receive More Than One-Third of New Ryan Tax Cuts

Underscoring how tilted the proposal is toward the top, the TPC figures show that people making more than $1 million a year would receive 37 percent of the new Ryan tax cuts even though they constitute less than one-half of one percent of U.S. households (see graph).

Let's say you are a janitor, a teacher's aid, a sales clerk, a seasonal farm worker or a taxi driver - someone who works hard and lives a very modest lifestyle. For some reason, Ryan like most conservatives has nothing but contempt for the fact that you do work for every penny. Like most conservatives Ryan thinks the people made rich via your labor and your purchases of their products deserve even more money that didn't earn. Ryan believes in redistributing money upwards to the lazy plutocratic elite. You know the people that if they all got up and left the country tomorrow we wouldn't miss them. 

Thursday, March 1, 2012

America Should Know: Romney Has Deep Convictions About One Thing


























































America Should Know: Romney Has Deep Convictions About One Thing

If he weren’t so smug, it would almost be possible to feel sorry for Mitt Romney. Beyond the flip-flopping, has any worse actor ever attempted the role of presidential candidate? It’s beyond Romney’s powers to persuade most people of his sincerity about things he does believe, much less the many tenets of contemporary GOP faith he probably doesn’t share — assuming for the sake of argument that anybody, including himself, knows which is which.

There’s little doubt, however, that Romney believes he deserves to be president, in rather the way the fictional Lord Grantham deserves to preside over Downton Abbey. It’s his inability to conceal that sense of entitlement that makes him such an awkward politician.

The candidate’s cringe-inducing attempts to present himself as a Regular Joe almost invariably end in boasting. Campaigning in his native Michigan, he assured voters that his wife drives not just one $50,000 Cadillac, but two — one at their Boston home, the other at their seafront mansion near La Jolla, Calif., as aides subsequently clarified. No word how Mrs. Romney gets around at their New Hampshire lakeside compound or their Park City, Utah, ski palace.

Visiting the Daytona 500, Romney admitted he’s not a keen NASCAR fan, but does have friends who own racing teams. Defending himself on CNN from the perception that his wealth leaves him “out of touch,” he allowed as how, “If people think that there is something wrong with being successful in America, then they better vote for the other guy, because I’ve been extraordinarily successful and I want to use that success and that know-how to help the American people.”

On the “Today” show, Romney explained that people concerned with income inequality are simply jealous. “You know, I think it’s about envy,” he said. “I think it’s about class warfare. When you have a president encouraging the idea of dividing America based on the 99 percent versus 1 percent—and those people who have been most successful will be in the 1 percent — you have opened up a whole new wave of approach in this country, which is entirely inconsistent with the concept of one nation under God.”

Got that, peasants? God’s behind the 13.9 percent tax rate Romney paid on $43 million he earned in 2010 while technically unemployed. Anybody who thinks differently is merely eaten up with resentment. In my experience, the more money people inherit, the more they’re tempted to lecture others about talent and hard work. And to cry the blues about the indignity of paying taxes.

Romney’s air of personal superiority appears to be the one topic about which the poor dork is absolutely sincere. That’s what makes him such a terrible liar. He’s almost frantic with it, like a golden retriever with his ball. Even with the mute button on the TV pressed, you can almost hear him panting.

Look — modest, humble people don’t run for president. President Obama often appears to have trouble restraining his bemusement at the antics of less intelligent people. Nevertheless, Romney’s unrestrained egotism is the reason I think Paul Krugman (among others) has made far too much of an offhand remark the candidate made seemingly renouncing the central tenet of GOP economic dogma.

“If you just cut, if all you’re thinking about doing is cutting [government] spending,” Romney told a group of Michigan voters, “as you cut spending you’ll slow down the economy.”

Well, no kidding.

To Krugman, Romney’s slip of the tongue revealed him as a “closet Keynesian” who “believes that cutting government spending hurts growth, other things equal.” The columnist added that, after all, “Mr. Romney is not a stupid man. And while his grasp of world affairs does sometimes seem shaky, he has to be aware of the havoc austerity policies are wreaking in Greece, Ireland and elsewhere.”

Oh no he doesn’t.

Or, to be more precise, Romney can be perfectly aware and blithely unconcerned. Krugman left off the next sentence where Romney stipulated that cutting spending alone wasn’t enough. “You have to, at the same time, create pro-growth tax policies.”

Translation: even lower taxes for multimillionaires.

But I’d never presume to argue economics with professor Krugman. My point is that Romney’s tycoon capitalism has only partly to do with jobs, money and the real economy. It’s also about cultural revanchism, putting the right people back firmly in charge and the lower orders back in their place.

Tycoon capitalists like Romney see a prolonged slump as an opportunity to render the workforce more docile and grateful. Remember, this is the same guy who opposed government loans to save Chrysler and General Motors. Better to crush the Auto Workers Union. Who said the best way to resolve the national foreclosure crisis would be to speed it up, so that “investors” could buy people’s houses cheaply and rent them out.

In the end, it’s all about No. 1.

Who is Romney or the conservatives who claim that generations of wealthy families are achievers and successful. They took their inherited wealth and made more money from money they already had. Its not hard. Anyone who wins a couple million in a lottery just distribute that around into savings accounts, certificates of deposit, some safe mutual funds and you can live off the interests. That is nice, but is hardly being an achiever. Romney and his friends, seating in leather chairs in big comfortable offices and moved numbers around on spread sheets. OMG, they must have been so tired at the end of those grueling days.

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