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Stock Market Soars and Billionaire Wealth Swells by $1 Trillion as Food Lines Stretch 'As Far As the Eye Can See'

Actually i believe FDR was a failure.

What ended the Great Depression was WW2, not the New Deal, despite all the modern Keynesian economists saying it worked. People tend to forget that there was another economic slump in 1937.

Just to blow my own horn, i recently wrote about it here

~https://www.worldsocialism.org/wsm/2020/10/12/savior-of-capitalism

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But during the revolution of “les misérables” the governing forces didn’t have the sophisticated equipment to quell the masses as they do today.

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alan –

The fact Social Security as part of the New Deal still survives belies what you are
saying –

Not to mention that UNEMPLOYMENT INSURANCE still exists – though both programs
harmed not only by GOP attacks to create slush funds for Elites contrary to original intent
of a strictly “pay as you go” Social Security System – and many other means of damage
such as ending COLA’s and then putting them under control of Alan Simpson/GOP and
life-long enemy of Social Security –

Same for Unemployment – now limited to 2 years – !!

THE NEW DEAL WAS NOT INTENDED TO END THE GREAT DEPRESSION … IT WAS
FOR A BRIGHTER AND SAFER FUTURE FOR THE NATION – INCLUDING HUMAN RIGHTS
TO HEALTH CARE, HOUSING, ETAL –

FDR’S IMMEDATE MOVES AGAINST THE DEPRESSION WERE OF COURSE EFFECTIVE.

NOR WAS IT INTENDED TO SUCCEED OVERNIGHT –
BY THE 1970’S IT HAD SUBSTANTIALLY REDUCED THE WEALTH OF ELITES WHICH
THEY WERE WELL AWARE OF AND WITH JFK THEY WERE NOT GOING TO ALLOW THE
RISE OF A NEW FDR.

HAD FDR INTERVENED IN SPAIN AGAINST THE CATHOLIC CHURCH AND FRANCO FASCISM
THERE, THERE WOULD HAVE BEEN NO WWII.
See: George Seldes/All Roads Lead to Rome
~http://churchandstate.org.uk/2012/10/the-vatican-propaganda-machine-the-spanish-civil-war-lesson/

Notably, Elites were most anxious to overturn the very successful restraints on capitalism
itself – Wall Street, Investments, Monopoly and other regulations on capitalism which
humanized it. Elites are not interested in 10% profits - they are interested in market crashes
which bring tremendous wealth their way – and the markets are so ordered and managed.

Unfortunately, the public and new generations did not entirely understand the threat of Elites/
corporations and by the time they did the Dem Party had already been compromised/corrupted.
By then, of course, the McCarthy fakery succeeded in purging all liberals from government and
was working on the Cold War. Later, in the 1970’s, the CIA seems to have taken over the NRA
in order to ensure that the few liberals and moderates left in the Congress were targeted and
the CIA never suffered again the threat of another investigation as Sen. Frank Church had
brought forth which showed us the tip of the iceberg of CIA violence internationally for Elites/
Empire.

And whatever lack of success the New Deal may have had it was completely due to right
wing/Elite blocking – also using the Supreme Court – and putting Truman in play just a short
time before FDR’s “death.”

And the future would have been a lot brighter had FDR managed to live – and where at
least one of the attempts to assassinate him may have succeeded – and if Henry Wallace
had reached the White House. After Stalingrad, when Elites here and Internationally realized
that their recruit Hitler was not going to rule the world for them, they insured that neither would
FDR/Wallace do so. Third Reich in Germany was moved here and to other “hot” spots around
the world - and Truman delivered on Elite desire for CIA to serve them – as it has done now
for more than 70 years of destructive anti-democratic attacks on so many other nations with
left-leaning governments in order to overturn them — and since the 1970’s here running drugs
and guns in our societies in order to do the same here.

We only know likely about 100-200 CIA programs – there may have been 1,000 or more –

See: Operation Mockingbird — scroll down to “History” — which was being drafted two years before the end of WWII.

Intended to take our free press, they recruited Phil Graham/Washington Post for his social contacts with other wealthy owners of media. No one is sure whether violence was used in the beginning or threats – but Phil Graham did end up a suicide – or was “suicide-d.”

See: Operation Paperclip — Wiki’s figures are low — more likely 200,000 according to Kay Griggs/YouTube.

They were used to found the CIA, funneled into the FBI and into other government agencies, and to “hot” spots around the world for eventual rise of the Fourth Reich. Not until 1976 did Carl Bernstein write an article for Rolling Stone reporting on Paperclip and CIA “journalists.” You can read it on the internet – “CIA & MEDIA”

See: Operation Gladio — US program to keep right wing governments in place in the countries over which they had control after WWII — Germany, Japan, Italy. In Italy, US actually resurrected the MAFIA in order to ensure the plan would be carried out. CIA also immediately began to run drugs and guns there, laundering the money via the Vatican and using the money to create “insurrections” in Italy to be blamed on Italian government. Note also that immediately our former enemies – Japan and Germany – both rose as world economic powers.

These are the long secret programs which have delivered FASCISM to US. Plus 50 years of Americans voting on hack-able electronic voting computers which came in about 1967 and immediately began reporting odd and unbelievable right wing wins. Same for the large computers which came in about 1965 used by MSM and which were allowed to report “winners” based on 1% or even 0% of the computer estimated vote. Actually, prior to the computers, MSM was only permitted to call “winners” based on ACTUAL VOTES TALLIED.
Now VOTE BY MAIL has made clear that we need to smash the computers and vote only with
PAPER BALLOTS, PENS AND TRACKING NOS …

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Greenwich, You may consider FDR the father of American social security and national insurance but the real father was Otto von Bismarck, the Iron Chancellor of the Kaiser

Did the ruling class sabotage FDR? Like all bail-outs of the wealthy they served to save capitalism and once it has done the job, then such policies as increased government spending (which equates to higher taxes on the rich) are ditched.

FDR, unlike today’s presidents, faced a growing not a declining militant labor union movement so he was obliged to offer more carrot than stick. FDR was pressured into the Wagner Act - NLRA - which he repeatedly tried to oppose. The 1937 wave of sit-in strikes was effective new tactics. The concessions to labor was imposed upon FDR by the unions. All the credit has to go to them for extracting benefits from an unwilling FDR.

Look at FDR election promises…a fiscal conservative in 1932. Of course his New Deal was to get the US out of its economic stagnation.

Not as you say for human rights. They said Hitler ignored Jesse Owens…Not according to him…Owens’ complaint was that FDR was the person who totally ignored his win and later not one single black Olympic athlete was invited to the aptly named White House.

Shall i also mention the plight of the German Jewish refugees turned away from American ports? Some humanitarian!!

The post-war boom which was unusually prolonged was built on the reconstruction of the ruined economies of most of the industrial world. And when that was eventually accomplished, we returned to the business cycles of boom/slump that Marx described.

I’m sorry to disagree, Greenwich, but looking back in history with rose-tinted glasses doesn’t help us to prepare for the inevitable sell-out from Biden.

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Prop 22 is just another day’s job, well done, to Catastrophe Capitalism, feeding on a desperate & terrified precariate? Forking lemmings to sharks, feeding far below… so, NU?

Aside from PhARMA & FIRE Sector equities, Asian PV, EV, AI, Smart & automation stocks; cloud, e-vendor, networking… “a crisis is a TERRIBLE thing, to waste!” a feature, not a bug.

~https://www.businessinsider.com/uber-lyft-paid-naacp-alice-huffman-prop-22-2020-10 (Biden’s Labor Secretary?)

~https://taibbi.substack.com/p/for-what-are-americas-wealthy-thankful-fe3 (cause and effect, rich get richer)

~https://greenwald.substack.com/p/a-long-forgotten-cia-document-from (first, they came for the journalists…)

~https://mobile.twitter.com/snmrrw/status/1330529686389198855 (shuffling in COVID test line: priceless)

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this is the capitalist’s finest hours–don’t you just love the results of our capitalist system??–how about taxing(say about 50%) the obscene profits to use for relief from the horror show

prediction–the people will get NOTHING–the capitalists everything–just as it has been for many decades

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Serving precariate constituents… it’s a COOK book?

~https://www.nakedcapitalism.com/2020/11/nathan-tankus-what-the-hell-is-going-on-with-cares-act-funds.html

~https://m.youtube.com/watch?v=snF6cBPMmU4

~https://mronline.org/2020/11/26/greenhouse-gases-set-new-record-despite-covid-19-lockdown/ (food/ PCR lines?)

~https://truthout.org/articles/nurse-we-are-screaming-at-the-top-of-our-lungs-and-so-few-are-listening/

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Greenwich, since you raised the topic of the Spanish Civil War, i was involved with anarchist groups for many years, so as you can expect, i made a special study of what anarchists call the Spanish Revolution and you are right, the non-interventionist agreement was crucial (America’s involvement was secondary). For starters, it threw the Republican government into the jaws of Stalin who proceeded to bleed Republican Spain dry.

But consider this, Franco used over 130,000 Muslim Moroccans to “defend” conservative Catholic Spain and if the Republic had chosen to go against the wishes of the British and French imperialists it could have announced independence for Morocco who had recently rose up in the Rif Rebellion for its freedom. Where would the loyalty of those Moroccan soldiers then be…with Franco or the Republic? His revolt would have been over before it practically began and there would have been no Italian or German forces arriving.

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alan –

I didn’t know Bismark was president here during the Great Depression –
or at any other time –

However, Huey Long was also active HERE in regard to old age pensions –

Social Welfare History Project Long, Huey
(~https://socialwelfare.library.vcu.edu/eras/great-depression/long-huey/)
For example, the Social Security system reflected Long ’s proposal for old-age pensions, the Works Progress Administration mirrored public works programs begun by Governor Long in Louisiana, and the National Youth Administration reflected his student financial aid proposal.

And of course, there were companies that provided some pensions –

Who really invented the wheel – ?

Not finding your comments very clear – but will guess at some of it –

The New Deal was an attack on the wealthy, especially in regard to inheritance taxes.
Wasn’t it FDR who dubbed them “The Robber Barons” –
FDR’s New Deal REGULATED CAPITALISM – and Wall Street – Financial Institutions –
to prevent any repeat of the Great Depression… As we’ve seen over and again, overturning
New Deal regulations have brought us back full circle to new crashes. I’m sure we agree
that the 1929 crash was a planned event by at the least by J. P. Morgan. But there was a
long early history of capitalism’s repeated crashes.

Clearly, there is a long history of Elites/corporations preventing unionization, especially
successfully in the South. Unions were only able to become somewhat established in the
North because they did become aggressive; however, the highest level they ever reached
here in US was 39%. Today, Elites/corporations have reduced unions to 7%-9%.

The New Deal was about the past, present and future of the Nature – a visionary program.
You can also let Teddy speak for disdain for Elites/corporations – where he even at that time
was making clear the need to get corporate money out of our elections. Today we’ve been
presented a fascist blockbuster MONSTER by the fascist SC giving us “Corporations United” and
claiming (ridiculously) personhood for corporations.

There are many tiers in the recovery from the 1929 “Crash” – the first was to protect the savings
of citizens – to allow the banks to reopen. IMO, it was visionary to put youth to work outdoors
in camps, where they could help their families financially, and be connected to Nature/outdoors.

Interesting that you try to suggest that FDR was racistwith Eleanor by his side – !!!
First, sports were not what they are today – especially important in keeping males distracted from
politics. And there may have been many reasons, possibly like this one . . .

President Franklin D. Roosevelt never invited Jesse Owens to the White House following his triumphs at the Olympic Games. When the Democrats bid for his support, Owens rejected those overtures: as a staunch Republican, he endorsed Alf Landon, Roosevelt’s Republican opponent in the 1936 presidential race.

The sad plight of the German Jewish refugees aboard ships which were turned away
from American ports … in my understanding was the work of the State Department –

Settled lines were not Roosevelt’s style. On foreign policy, this proclivity was strengthened by his distrust of the State Department. The career men in the diplomatic service were mainly Republicans, he believed, and out of step with his policies, being disinclined toward interference in the European conflict. His confidants agreed. IInterior Secretary Harold L. Ickes felt the department was “undemocratic in its outlook” and “shot through with fascism.” Harry Hopkins hooted that foreign service officers were “cookie pushers, pansies—and usually isolationists to boot.” Not long after the bombing of Pearl Harbor, FDR is supposed to have joked that his State Department was neutral in this war and he hoped it would at least remain that way.**

FDR’s Jewish Problem | The Nation
(~https://www.thenation.com/article/archive/fdrs-jewish-problem/)
Like many American Jews at the time, Wise saw Roosevelt as an ally—an implacable foe of Hitler and a bulwark against American anti-Semitism , which was not insignificant in the 1930s and ’40s…

’ROOSEVELT – " a bulwark against American anti-Semitism , which was not insignificant in the 1930s and ’40s…

A Ship of Jewish Refugees Was Refused US Landing in 1939 …
(~https://www.history.com/news/wwii-jewish-refugee-ship-st-louis-1939)
Jun 04, 2019 · Though Roosevelt had considered a concerted push to rescue Jewish refugees the year before the St. Louis sailed , he eventually dropped the idea, both because he knew it would be politically…

A State Department official[ telegraphed]the passengers, telling them that they “must await their turns on the waiting list and qualify for and obtain immigration visas before they may be admissible into the United States.” Though Roosevelt had[ considered] a concerted push to rescue Jewish refugees the year before the St. Louis sailed, he eventually dropped the idea, both because he knew it would be politically unpopular and because of his increasing focus on the looming world war.

Certainly a sad event and even sadder to read that the US turned them away – but also
Canada and other nations did, as well –

The saddest thing about this time is that those bringing news of the Holocaust were not readily
believed. The Holocaust was able to work in SECRET mainly because it was "unbelievable"
and “impossible.” It wasn’t that unbelievable or impossible when one recognized that the Vatican
had been spreading hatred for Jews in the Papal States for 1,500 years or longer. In fact, the
Vatican’s Jewish Ghettoes were open for 1,500 years before being closed down first by France
and then by Italy in the 1860’s. Hitler also credits the Vatican and then himself for the “final solution.”

After the War the Vatican was called on to "Confess to it’s Co-Responsibility for the Jewish
Holocaust in Germany."

And, certainly we should recognize that this orchestrated CRASH didn’t only do great harm to
the US, but to other nations –

Let’s not ignore Eleanor Roosevelt in this match either – and that FDR and Eleanor worked closely together – until unfortunately, when she moved on to live her own life early in the fourth term,
This left him in the care of his daughter, who was not as attuned to the dangers surrounding FDR.
Eleanor Roosevelt, of course, led the work on the United Nations HUMAN RIGHTS MANIFESTO.

Rather … all of this needs discussion …

Today, we still have a president in the White House seeking to return to "Firing Squads’ and
“Electrocution” to execute those on Death Rows in our prisons. He is one of the greatest examples
of racism, sexism, homophobia and general disregard to human life while claiming to be “pro-life.”
He also suggested in regard to the parents and children seeking asylum at our borders that they
be shot –

Nixon was anti-Semitic and is taped in discussions with Billy Graham – another pretender to
“Christianity.” Certainly, still in the 1930’s this was sadly common – especially given the teachings
of our organized patriarchal religions which underpin Elite/Patriarchy – “White Male Supremacy” –
and their teachings of hatred for Jews, Women, Native people, Africa - Africans – and many other of their enemies they worked at creating intolerance and hatred for – and to oppress through violence.

We had 12 presidents who were SLAVE OWNERS and in saving that bit of the “economy” for themselves Our Founders GUARANTEED the Civil War which further benefited Elites by splitting
the nation into two camps of hatred which still echo today. Divide & Conquer one of the most
important tools in the Elite toolbox.

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The mention of Bismarck was simply to remind that the welfare state was not a liberal invention but a Prussian militarist’s. As was state-ownership.

It was not only Owens who was not invited but ALL the black athletes.

On October 10, 1936, at a Republican rally held in Baltimore, Owens said “…remember that the President did not send me a message of congratulations because people said, he was too busy…Governor Alfred M. Landon did send me a message and he was very nice to me.”

But as you say sport was a bit different. Joe Louis and Jackie Robinson were also Republicans.

Was FDR racist? There is good grounds to believe so. He refused to support making lynching a federal crime…it was politically inconvenient.

Too often a Democratic president had to fawn over the Dixiecrats rather than stand for principle

Robber Barons was a much earlier expression. Debs used the phrase in 1902 and i don’t think he even originated it.

Once again, i have to say that Big Business endorsed FDR policies and once profits were restored Big Business demanded an end to government intervention. I won’t deny that the Democratic Party was divided …as it is today with the corporate Democrats and the Justice Democrats. The big corporations were part of his support. Smaller capitalists dissented from his central planning.

By 1935 FDR was carrying out budget cuts on the New Deal projects and only 1937 crash temporarily halted them.- then they resumed.

New Deal Secretary of Labor, Frances Perkins said that the Wagner Act “was not a part of the President’s program. It did not particularly appeal to him …”

The unions fought for their collective bargaining rights, not FDR

And the important thing to remember was much of the new militancy was the CIO - w industrial unionism across whole sectors of the economy such as the car workers, not the craft unionism of the AFL, that the IWW had been fighting against.

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I hear Long Pig is great with fava beans and a nice Chianti

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Capitalism is disgusting.

We need both a Minimum Wage and a Maximum Wage

… and a post-capitalist society.

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For an example of highly effective propaganda, note the fact that CA is still considered a very progressive state.

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Maximum wage ,it would still be a huge amount per annum but we would have no more billionaires .

How much is enough !!

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Appropriate picture indeed! Dr No , laughing his wealthy ass off, while millions just want a freakin meal. So true for these times, regardless of Trump or Biden or whoever in the White House

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What do people expect as everything is automated?

Jobs are going away globally. Some get outsourced and offshored first, and then they will vanish.

Thanksgiving thanks @Greenwich and @alanjjohnston for your fascinating coversation.
A sterling example of the depth of understanding fostered in CD comments that rival and surpass the high grade of articles printed here.

That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.

  • Aldous Huxley

The most effective way to destroy people is to deny and obliterate their own understanding of their history.

  • George Orwell
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Wonder if this will disturb bezos:

~https://www.theguardian.com/technology/2020/nov/26/international-campaign-calls-for-boycott-of-amazon-on-black-friday

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Amazon stuff is a bunch of junk made in China. I fool-hardedly fell for a non-stick 18-piece cooking set for $50 bucks. When it came i had to put it together! WTF. Bezos is like the P.T. Barnum of the internet world. Sheesh.

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