POLITICAL observations & opinions

* Rana Foroohar has written a brilliant article in the June 20, 2011 issue of TIME magazine … Read the article, and sharpen your judgments on those who would lead us.

Posted by Lew Weinstein on June 13, 2011

to learn more about Lew Weinstein and his novels,

go to … http://lewweinsteinauthorblog.com/

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Rana Foroohar has written a brilliant article in the June 20, 2011 issue of TIME magazine. 

The focus of the article are five myths that occupy a huge proportion of our political discussion of economic issues, and which are simply not true. These five myths are …

  1. we are in a temporary economic blip
  2. we can buy our way out of our economic woes by another stimulus package
  3. the private sector will (or even can) make it better
  4. the unemployed will move to where the jobs are
  5. entrepreneurs are the foundation of the U.S. economy

Foroohar demolishes each of those myths with devastating, fact-filled analysis. She makes the case that political leaders who stick to these myths and do not address the fundamental structural problems underlying our debt, unemployment, and growth issues do not deserve to be in office.

That’s a yardstick that can be applied to all of our leaders or wannabe leaders, including President Obama, all the Republican presidential candidates, and both Republican and Democratic members of Congress. It should also be applied to the strident, often ill-informed supporters of all of the above.

Read Rana Foroohar’s article at  

http://www.time.com/time/nation/article/0,8599,2076568,00.html

and sharpen your judgments on those who would lead us.


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7 Responses to “* Rana Foroohar has written a brilliant article in the June 20, 2011 issue of TIME magazine … Read the article, and sharpen your judgments on those who would lead us.”

  1. Mark Lawrence said

    Amen Brian!!! Well said….

  2. Chris said

    Campaign finance reform is a wonderful topic. So is term limits, ending pay to play. No elected official should benefit from insider information. See how congress and Senators out perform all others in stock portfolios. How is it that after the crash of 2008 and subsequent bail outs no one has been jailed? Bankers get richer the middle class get poorer. Open and honest discussions must begin and not on party lines. Party politics is doing nothing to help. The only thing they want is to have the power so they want to win at all cost.

  3. Part of the problem is that “we” (whoever that is) accept the mistreatment of workers abroad. We allow for people to make e $2 per day. Well, then companies outsource our jobs to those people. And we get $0 per day. We need to fight for a worldwide minimum wage. How to do that is another question. OR (and relatedly), we need to prevent companies that manufacture abroad in such exploitative markets from selling products here in the USA. Otherwise, there is no solution, as I see it.
    If enough people are left out in the cold on $0 per day, there will be some sort of revolution.
    Of course, the companies that have bought off our so-called leaders will fight tooth and nail any effort to prevent outsourcing or to raise wages abroad. They will continue to propagandize Americans that corporations need to have “free rein” and that “regulation is bad.” I was talking last year to a friend whose wife had been laid off by a large US company (that is raking in huge profits). It took her more than a year to get another job, and the new job was part-time at that. While his wife was still looking for work and the family was hurting, my friend nevertheless said he was against any effort to regulate corporations to prevent/limit outsourcing!

    • Lew Weinstein said

      Complicating an effort to achieve a greater equity of wages worldwide is the fact that American consumers (presumably the ones still employed) enjoy the lower prices that low foreign wages yield. As it has been many times said, there is no free lunch.

  4. Susan Otradovec said

    Interesting article that’s left me more depressed and ultimately more scared. Myth 3 on the private sector – where is the outrage on the profits these companies are reaping not to mention the outrageous compensation packages their CEO’s get while these same businesses have laid off workers when it wasn’t warranted, cut local spending and cut salaries and or limited raises to less than 2% for most workers. It would be interesting to look at the tax breaks these corporations get and how they outsource the jobs to anywhere but the USA. But on a very positive note, I’m happy that I’ve got a job with health benefits!

    • Lew Weinstein said

      It is frightening, but mainly because we don’t seem to have the political resolve to make the adjustments we need to deal with reality. U.S. corporations are making huge profits, so it is not unreasonable to expect that CEO’s will be rewarded. Our work force is not in sync with the work that needs to be done. We have out-priced ourselves compared with workers in other countries, and many of the jobs lost will never return. We could be using that workforce to rebuild our infrastructure, while at the same time implementing policies – in education, mortgage resolution- that would fit people with jobs. However, the world is competitive and we cannot simply insist on higher paying jobs unless there is a demand.

  5. Yes, I am tired of people saying/thinking/believing that the market will take care of us, that regulation must be abolished. We know what happens then – power and wealth get concentrated and work to increase themselves … Corporations would eat us (or sell us for food and body parts) if the law allowed it. And they are working at all times to get rid of such laws.

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