Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 2 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 7/23/11

Winning with Kamikaze Tactics

By       (Page 3 of 3 pages) Become a premium member to see this article and all articles as one long page. (View How Many People Read This)   2 comments
Author 1549
Message Danny Schechter

It is in sharp contrast to the debt issue I explored in my 2006 film "In Debt We Trust: America Before The Bubble Burst." It focused on mounting consumer debt and how it turned so many families into serfs, living to pay off high-interest credit cards, crushing student loans and fraudulent sub-prime mortgages.

Not only is this personal debt crisis that so many American feel deeply not on the Republican agenda, but the kamikazes have fought successfully to neuter proposed reforms to protect consumers. They also have managed to force the administration to abandon Harvard Professor Elizabeth Warren, who led the fight for government agency to stop the abuses by banks and credit-card companies.

These Republicans have no shame in weakening efforts that would make the octopus-like grasping of loan companies more transparent and less predatory. Protecting people is not one of their priorities. Defending the privileged is.

While their narrative of negativity became dominant, progressives either became a cheering squad for corporate Democrats or over-focused on the machinations of the flamboyant characters on the Right, like Michelle Bachman, Sarah Palin and Glenn Beck.

Progressives mostly reacted defensively, instead of acting offensively.

They did not fight the Right's narrative with another one attacking the economic powers in a crusade for justice. They watched as community organizations like ACORN were driven into the ground and only woke up when the Governor of Wisconsin went after the collective bargaining rights of unions.

Instead of organizing and uniting around campaigns based on programs for substantive change, the progressives played defense, trying to hold on to existing rights. They stopped fighting for new rights for all Americans.

As a result, the Left has left itself out of this polarized political war even as the economy worsens while the media focuses on the clash of the gladiators on Capitol Hill.

But Reich reminds us these are not Clinton times:

"When the Great Recession wiped out $7.8 trillion of home values, it crushed the nest eggs and eliminated the collateral of America's middle class. As a result, consumer spending has been decimated. Households have been forced to reduce their debt to 115% of disposable personal income from 130% in 2007, and there's more to come. Household debt averaged 75% of personal income between 1975 and 2000.

"We're in a vicious cycle in which job and wage losses further reduce Americans' willingness to spend, which further slows the economy. Job growth has effectively stopped. The fraction of the population now working (58.2%) is near a 25-year low -- lower than it was when the recession officially ended in June 2009."

Who is talking about this disaster?

Next Page  1  |  2  |  3

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).


Interesting 1  
Rate It | View Ratings

Danny Schechter Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at See
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Israel Gives All Jews A Bad Name

Is There A Threat of Fascism in the USA?

Free Marketers Going After Occupy Wall Street --Danny Schechter




To View Comments or Join the Conversation: