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Posts published in “Day: November 23, 2012”

Losing money in a weak economy

peterson
Martin Peterson
From Idaho

There has recently been a lot of talk about the group of Americans known as The One Percent. The term refers to the one percent of Americans who control something like forty percent of the nation’s wealth. Presumably, the wealthiest of these individuals, unless they inherited their wealth, are people who are intelligent, have a high work ethic and think strategically when making business decisions.

So, at a time when there has been so much talk about the overly long recovery from the last recession, where do these wealthy individuals invest their money? Following tips from their Fox News advisors, the smart investment was in Mitt Romney and other Republican candidates.

The talking heads on Fox said for months that this was a sure thing. As it turns out, as financial advisors, they were right up there with Bernie Madoff.

Take the billionaire casino owner Sheldon Adelson. He made his billions off of people who bet and lost and when it came to making political donations, he proved no luckier than most of his customers. He spent $53 million on nine political races and had only one winner. The one winner was in the Texas Senate race where he actually supported two candidates.

Then there are the Koch brothers, Charles and David. They were reported to be prepared to donate something in the neighborhood of $400 million to a variety of tax exempt groups that are not subject to federal campaign finance disclosure. Their top priority was to support candidates who will weaken environmental regulations and stop the move away from coal to cleaner sources of energy. Presumably, that would have come with Republicans solidly in control of the House, Senate and White House. In the end, it was not one of their better investments.

One of the super PACs into which many of those wealthy one-percenters poured contributions was the one run by the former Bush political operative Karl Rove. Rove has been largely
viewed as one of the shrewdest and most effective political operatives of the current generation. (more…)

An entertaining civic education

rainey
Barrett Rainey
Second Thoughts

I’ve just seen Steven Spielberg’s “Lincoln.” Were I put in charge of this nation’s public education system, no student would graduate from any high school without seeing it. Twice. Once in the freshman year – again as a senior. It’s that important.

As I remember, when a kid of about 13-14 is assigned American history studies, most approach the task with as much zeal as being asked to eat sawdust. The pages are flat. The information is boringly black and white. The names uninteresting and hard to connect with reality. Watching “Lincoln” at that age would change all that. These are real people sprung from dusty and mostly forgotten lessons. You cannot see and hear them without learning. And feeling. It’s just not possible.

William Seward, Salmon Chase, Edwin Stanton, Edward Bates and ol’ Abe himself are now – to those kids – just so many names to remember for some meaningless test. But in the hands of Spielberg and the superb actors he chose for those parts, there is flesh and blood – depth of character – motivations for their actions – ample reasons why they should be remembered for their importance to our history.

The second required exposure – at age 17-18 – would provide a review and a perspective not possible the first time around. It would bring together lessons learned since the first exposure – lessons about real people – fleshed-out, ambitious, patriotic, honest – and not-so-honest. They would understand how things happened. And why. Added to other lessons learned over those intervening years – and with more maturity – the second viewing would create an indelible memory “stamp” to last a lifetime.
All of us learned Abraham Lincoln was a great president who ended slavery and was assassinated at Ford’s Theater. As a kid, you accepted those facts and closed the book. History learned.

But scholars want us to know more. Republican Lincoln was a wheeler-dealer who “bought” votes to abolish slavery using the power of patronage. He passed out government jobs as rewards to those who’d abandon their own political party or their pro-slavery positions by voting for the 13th amendment to the U.S. Constitution. Many were offered to Democrats who’d been losers in recent elections and were looking to hang on. Do most people today know Lincoln used paid lobbyists to win his victory? (more…)