wealth we texting are

A million dollar fender bender? 

Yes, a one million dollar fender bender at the Monte Carlo Casino.

Making jobs for everyone!?

Call me a heretic, fire up the kindling and ready the stake, but I’d say this particular item — which I’ll readily hold up my hands and admit hit a nerve — is a peculiarly apt metaphor for what’s gone wrong with the economy today: the super-rich, whose gains reflect little social value creation, have gotten richer — and are hyperconsuming the stuff of idle, yawning luxury with an appetite that makes Caligula look like a blushing bride. – Umair Haque: How Our Economy Was Overrun by Monsters and What to Do About It

silly politicians

Duty under the 14th Amendment to pay the nation’s bills.

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.

the debt wing

via Slate’s Andrew Leonard:

“On Sunday, the New York Times published a chart demonstrating the relative contributions to the deficit made by George W. Bush and Barack Obama. Short version: The total cost of new policies initiated during the administration of George Bush: $5.07 trillion.”

Barack Obama: $1.44 trillion. Most of that cleaning up the Bush disaster.

How the Deficit Got This Big

collapsed in acrimony

Vince Cable has launched an extraordinary attack on “rightwing nutters” in America who are trying to block the raising of the US government’s debt ceiling and who are, he said, a bigger threat to the world economy than problems in the eurozone.

Vince Cable is Britain’s business secretary. He said:

“The irony of the situation at the moment, with markets opening tomorrow morning, is that the biggest threat to the world financial system comes from a few rightwing nutters in the American Congress rather than the eurozone.”

Chort.

fervor sales

Los Angeles Times on Nancy Grace:

Anyone who had occasion to watch her relentless coverage of the recently completed Casey Anthony murder trial witnessed something quite new to the American news media: a mainstream news organization giving one of its commentators a nightly forum from which to campaign for the conviction of a criminal defendant.

to put it politely…

the extraction era

Our money…

“It doesn’t measure how good of a human being you are, but it does measure, in most cases, how much value you have provided to your fellow man.  How is this true?  Because your fellow men have chosen to give you their money for your service.”

Well…

This ain’t necessarily so.  Rentiers collect, but they need not contribute.  They exalt themselves, and devalue labor.

In the past 30 years, nearly all the increase in surplus has been skimmed off by the top few percent in wealth.  The top 1% used to control 7% of the nation’s personal income. They now control over 21%.  Has their contribution to the rest of society tripled?  Not so.  They have manipulated the system, toforce labor to hand over its share of the increase in surplus.

Their contribution to the rest of society has not changed.  Their contribution to themselves has tripled.

If labor’s share of the nation’s output had remained constant, (and the top 1%’s) the middle and working class would all be about 15% better off than they are now.

And the economy would be in much better shape.

naught lawn

The Oak Park Outlaw
… she gardens her front yard
… city sends citation
… war ensues

The scofflaw, Julie Bass,
Rejected trees and grass,
And took to life of crime
With parsley, sage and thyme.

Her crime is avant garde:
The beds in her front yard
Contain illegal greens,
Like peppers, peas and beans.

Thank God the planner saw
Within the public law,
A means to prosecute
Before she planted fruit.

The plaintiff, Kevin R.,
The Oak Park planning czar,
Will see the line is toed
By pointing to the code.

But folks can misconstrue
What’s ‘suitable’ to do,
So Kevin has deferred
To ‘common’ as his word.

And what is more unique
Than cucumber or leek,
When planted in a bed
Where grass should grow instead.

Uncommon as they are
Outside a mason jar,
She’ll need to clear her yard
Of broccoli and chard.

Then justice will prevail,
And Oak Park can exhale,
Devoid of squash and kale,
With Julie safe in jail.