MainLine Peace Action/DelMont PDA

December 12, 2010

James K. Galbraith On Obama

Filed under: economics — Tags: , , , , — Walter Ebmeyer @ 3:10 pm

About two weeks ago, James K. Galbraith spoke at the Harvard Kennedy School to a meeting of Americans for Democratic Action.  He reminded us what Lincoln said in the dark winter of 1862: “We cannot escape history.  The solutions of a quiet past are inadequate to the stormy present.”  This is well worth a read.

November 8, 2010

The Problems Was The Banksters

Filed under: economics — Tags: , , , , , , , — Walter Ebmeyer @ 3:14 pm

Galbraith says Obama’s failure was in turning over economic policy to bank-friendly people – Geithner, Summers, Bernanke – who had no interest in Main Street.  So the big banks called all the shots and took home some very nice bonuses.  Sounds about right to us.

August 9, 2010

Private Affluence, Public Squalor

Filed under: Uncategorized — Tags: , , , , — Walter Ebmeyer @ 7:17 am

John Kenneth Galbraith railed against private affluence and public squalor years ago.  Now our legislatures are mandating public squalor at unprecendented levels – street lights turned off, bridges not maintained.  Our favorite economist, Paul Krugman, has a column about this today.  The problem is of course lack of funds to maintain the infrastructure.  To some extent that shortage is due to excessive military spending – see – and to some extent it is caused by a failure to properly tax the wealthy since the days of George W. Bush.  We are increasingly living in a third world country.