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Michael Kwiatkowski's picture

Ohio Voters Reject Senate Bill 5, Obamacare; Mississippi Defeats Anti-Abortion Amendment

Ohio voters last night voted overwhelmingly against both Republican and Democrat corporate-favoring policies in a referendum. Senate Bill 5, passed by the Republican-dominated legislature and signed into law by Republican governor John Kasich, was shot down by sixty-one percent, too large a margin for the GOP to rig the vote count in its favor. Read more about Ohio Voters Reject Senate Bill 5, Obamacare; Mississippi Defeats Anti-Abortion Amendment

jest's picture

Congratulations Obama, you have won: Most of the unemployed no longer receive benefits

Most of the unemployed no longer receive benefits (AP)

WASHINGTON (AP) -- The jobs crisis has left so many people out of work for so long that most of America's unemployed are no longer receiving unemployment benefits.

Early last year, 75 percent were receiving checks. The figure is now 48 percent - a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more.
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Michael Kwiatkowski's picture

Obamabots On the Attack

On the Open Salon version of my previous entry, some right-winger who supports Obama kept trying to lay the blame for next year's results on the left for failing to properly support the candidate who has done far more to pass the Republicans' agenda than any GOP office-holder could have.
Read more about Obamabots On the Attack

letsgetitdone's picture

Scott Fullwiler: Coin Seigniorage and Inflation

By

Scott Fullwiler

(X-posted with permission of the author and New Economic Perspectives)

(Editor's note:I think this is the definitive post on how proof platinum coin seigniorage relates to inflation. So, I've now stickied it!) Read more about Scott Fullwiler: Coin Seigniorage and Inflation

letsgetitdone's picture

Scott Fullwiler: QE3, Treasury Style—Go Around, Not Over the Debt Ceiling Limit

By

Scott Fullwiler

(Editor's Note: This post is being re-published with the permission of the author, Scott Fullwiler)

Cullen Roche’s excellent post at Pragmatic Capitalism explains—via comments from frequent MMT commentator Beowulf and several previous posts by fellow MMT blogger Joe Firestone (see the links at the end of Cullen’s post and also here)—that the debt ceiling debate could be ended right now given that the US Constitution bestows upon the US Treasury the authority to mint coins. Further, this simple change would lift the veil on how current monetary operations work and thereby demonstrate clearly that a currency-issuing government under flexible exchange rates cannot be forced into default against its will and is not beholden to “vigilante” bond markets. As Beowulf explains in a later comment, “The anomaly it addresses is that the US Govt has a debt limit yet an agency of the US Govt (the Federal Reserve) does not have a debt limit. Clearly this is a structural defect.”

The following is a description of how the process would work and the implications for monetary operations: Read more about Scott Fullwiler: QE3, Treasury Style—Go Around, Not Over the Debt Ceiling Limit

Michael Kwiatkowski's picture

FDL Update: Entries Restored, Comments Still Disappeared

My last entry at FDL, which is the last because I've been banned, has been restored to visibility. As I pointed out in my previous entry, my account and diaries were flagged as spam and hidden from view. Read more about FDL Update: Entries Restored, Comments Still Disappeared

Michael Kwiatkowski's picture

It is Immoral Not to Challenge Obama and the Democrats in 2012

I seem to recall that someone, late last month, posted an entry arguing that it is immoral for Democrats not to run a primary challenge against Barry Obama in 2012, in light of the things he's done to institutionalize Bush-Cheney crimes. (Glenn Greenwald chronicled the latest violation of the Constitution by Obama on his own blog, which you can read here). Read more about It is Immoral Not to Challenge Obama and the Democrats in 2012

'Defend the Dream'- March 15 - Tallahassee

A crowd of about a 100, more than I would have expected on a Tuesday afternoon. Some state workers, some students, quite a few die-hard geriatric liberals ( we never do give up do we?).

The Moveon event co-ordinator opened the rally by admonishing us all to vote for Democrats as a means of self-defense. The lack of enthusiasm was underwhelming. The applause wasn't polite because there wasn't any. Read more about 'Defend the Dream'- March 15 - Tallahassee

Michael Kwiatkowski's picture

Help Draft Candidates for 2012!

2010 is nearly over, and the fight for the presidency in 2012 is beginning to take shape. Corporate Democrat Barry Obama has not merely disappointed the public, nor has he merely failed to accomplish progressive goals. He has, in fact, deliberately and stubbornly refused to even try to accomplish progressive goals, opting instead to continue and expand on the fascist, totalitarian policies of his predecessor and ideological brothers, George W. Bush and Dick Cheney. Read more about Help Draft Candidates for 2012!

letsgetitdone's picture

Constitutional Crisis Over Debt Ceiling? Does the Government Have To Shut Down?

Recently, my friend Marshall Auerback posted an article at New Deal 2.0 about Obama's coming “teachable moment” when the Republicans try to wring concessions out of the Democrats by refusing to raise the ceiling on the national debt. The post stimulated a lot of good discussion about alternatives Obama might have to shutting down the Government in response. Read more about Constitutional Crisis Over Debt Ceiling? Does the Government Have To Shut Down?

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