Wall Street’s Tea Party

I think that the Democratic Party started to get in trouble when they started playing into Wall Street’s hands to compete for the huge campaign contributions, instead of standing strong together to keep corporate money out of politics. You can’t regulate Wall Street with one hand and take its money with the other. Moreover, former President Clinton by ratifying NAFTA and following Robert Rubin’s advice to repeal Glass-Steagal and sign the Futures and Commodities Act did not do the democrat’s any favors when these actions brought home some pretty nasty economic pain to the working class. NAFTA did not bring jobs, it shipped them away and we need to remember that so that we don’t make the same mistake with the TPP. The financial deregulation that became the “special du jour” put a lot of middle class folks at risk with their stock portfolios, the housing bubble and the casino of commodities dealing gold, oil, corn and wheat; everything is costing so much more except for labor costs, those have stayed stagnant or lost value. Until we get our casino that is Wall Street under control, our economy is going to go up and down like a bouncing ball until the only thing we have left are the uber rich and the poor. The Republican Party as a whole has driven us right to the cliff, we need to reign in the gambling addicts, reinvest in our working class and start creating wealth bottoms up to a healthy economy.
read the article:
http://www.huffingtonpost.com/robert-kuttner/wall-streets-tea-party_b_4887263.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: