Paul Adolph Volcker is dead at the age of 92. (Most accounts of the man suppress the middle name, though it was often pointed out with bitter glee by builders and others who were undone by his high interest rate policies in the early 1980s.) As I wrote in LBO when he left office in 1987, if capitalism gave out a Hero of Accumulation award, he would have been first on the honors list. Let’s recall what he did, because all the worshipful obits will almost certainly sanitize the history. Volcker was… Read More
By some strange but excellent coincidence, our visit to Madison coincided with a tremendous series of demonstrations against Gov. Scott Walker’s plans to destroy public employee unions in the state, and no doubt inspire other governors to do the same. Wisconsin, it should be noted, was the first state to recognize the right of public employees to bargain collectively; Walker wants to make it a leader in reversing that history. Liza & I dropped by today’s protest at the state Capitol—one that we’re told was far larger than yesterday’s, which is said to… Read More
Pacifica laid off the Morning Show staff at KPFA allegedly because of a budget crisis—and they hire an expensive corporate law firm to deal with the consequences. How community broadcasting of them! Read all about it here.
According to just about everybody, Teddy Kennedy represented the “soul” of the Democratic party, which presumably refers to his long-professed concern the poor and the weak. Now that that soul is safely buried, the Dems can move on to the important stuff, like preserving Wall Street power and escalating the war in Afghanistan. Let’s inspect that soul a little more closely though. I’ve never been inclined to hold my tongue about the recently departed. Well, yes, in personal life, but certainly not public life—especially in the midst of one of these orchestrated… Read More