Are we at the end of American-style Capitalism?

Are we at the end of American-style Capitalism?

There's a thought provoking article in the new Vanity Fair by Joseph Stiglitz, the Nobel Prize winning economist, which evaluates what the current financial situation Joseph Stiglitzthroughout the world means to America's position in it.

It is worth reading and thinking about, since it lays most of the responsibility on a "free-market economy" as foisted on the world by a greedy and thoughtless Wall Street, which set very different standards for other countries than it adopted for the U.S. This from the article:

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Teddy Kennedy is putting up a new Healthcare Bill... Not Single Payer.

Before we get into this discussion, go and get the background on Teddy's Bill:

Now this is a real winner for the Insurance Companies that are already sucking the money out of the Healthcare system and making it more expensive for the majority of us. For one thing, EVERYONE would be required to buy insurance... and those who couldn't afford it would get a government subsidy... your tax money in Insurance company pockets.

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Is Norm Going to Pull Out?

Two or three sources are betting that Norm Coleman is going to discontinue his campaign to keep Al Franken from getting the Minnesota Senate seat if the State Supreme Court, as it is believed, comes in supporting Franken. Even though John Cornyn and the other Republican Committee types are saying they would support Coleman through the US Supreme Court, Coleman apparently thinks Governor Pawlenty will sign the certification if the State Supremes come in for Al.

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The Economy and The American Dream.

Driving to work in Charles Town, WV, this morning I stopped to pick up coffee at the drive-thru window of the Ranson Chic-Fil-A on Route 9. I don't usually get my coffee at Chic-Fil-A... but there was such traffic at their drive in window I thought it must be pretty good.

Well, it wasn't any different than the coffee at McDonald's, Dunkin' Donuts, Sheetz, or the counter at Needful Things (which, as it turns out, is all that remains of an old F.W. Woolworth lunch counter).

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Is Pawlenty Opting Out of a Third Term Because He Can't Get Elected?!?

Minnesota Governor Tim Pawlenty announced today that he wouldn't seek a third Governor's term in 2010. The question is why?

Most of the press thinks it's because he intends to run for the Republican Presidential Nomination in 2012 and needs the time to push towards that run.

I think, however, that the miserable publicity and lack of concern for State residents having a full Congressional representation which Pawlenty has built up while supporting Norm Coleman's attempt to steal the senatorial election from Al Franken is the real cause. The people, even those who didn't support Franken in the first place, are pretty pissed-off that Pawlenty didn't certify Franken after the recount, or after the recount review that gave him even more votes, but has backed Coleman's taking the recount to the State Supreme Court where arguments wereplayed out yesterday.

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The murder of Dr. George Tiller shines new light on Operation Rescue and the right-wing media

Yesterday's news was filled with articles about Dr, George Tiller of Wichita, Kansas, one of the few publicly accessible late-term abortion doctors left in the country, who was  shot down in the lobby of the church he was attending.

President Obama issued a statement that he was "shocked and outraged" by the murder. According to the Wichita Eagle:

"However profound our differences as Americans over difficult issues such as abortion, they cannot be resolved by heinous acts of violence," the president said in a statement issued by the White House.

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What are the Republicans doing?

The slow suicide of the Republican Party, represented by their three most covered spokespeople, Rush Limbaugh, Dick Cheney and Newt Gingrich, is breathtaking to behold.

They have tromped on their most bipartisanly popular members, like Colin Powell; they have built their platforms on fear of attack by terrorists, as Gingrich did on Meet The Press; they have stressed their hopes for the current administration to fail, as Limbaugh has done repeatedly. All of these actions have lowered the perception of Republicans among average Americans.

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And you don't think we need to change the whole Healthcare system?

Then read this article,Referral System Turns Patients Into Commodities
in the NY Times. Here's an exerpt:

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The inherently destabilizing property of stability...

A few months ago I would not have been aware of the late economist, Hyman Minsky (1919-1996.) His theory, known as the "Financial Instability Hypothesis (FIH)" was not a matter of public discussion as we watched our economy go directly into the toilet and the recession grow and get more dismal.

Had I known about Minsky, however, I would have seen this coming in the 1980s when the Reaganites began to dismantle government regulation of banks and the investment markets. FIH says hat stability is inherently unstable.

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Credit Cards devastate Americans.

Byron Dorgan (Dem. - North Dakota) was on C-Span this morning to discuss the elements of the Senate's upcoming Credit Card Bill.  I'm not sure what he thinks he can accomplish, but at the very least, he is making us aware that the CC companies are big players in the screwing of the American Economy.

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