The Standard & Poor’s rating agency has downgraded European countries in a move that may force the governments to crack down more on their populations and divert more money to wealthy investors, thus helping the super-rich short-circuit what’s left of democracy, Danny Schechter reports.
Exclusive: The Republican presidential race has taken a detour into the “class warfare” that the party supposedly despises, with Newt Gingrich and Rick Perry tagging Mitt Romney as an elitist who got rich by laying off workers. But this spat misses the larger point of what the Right is doing to America, writes Robert Parry.
Exclusive: Rep. Ron Paul and other right-wingers have lured many average Americans into their camp by creating a false narrative about America’s Founding, claiming that the drafters of the Constitution wanted a weak central government. But that’s not the real history, Robert Parry writes.
Over the past three decades, right-wing policies have diverted the wealth of America into fewer and fewer hands, and a right-wing Supreme Court has let money dominate U.S. politics like never before, challenging Woody Guthrie’s idea that “this land was made for you and me,” Bill Moyers and Michael Winship note.
As Wall Street bankers and hedge funds deploy powerful computers in “high-frequency trading” – siphoning off capital meant for productive purposes – one counter-measure would be a “financial transaction tax” to discourage the practice and raise needed revenue, a plan gaining traction in France, reports Jeff Cohen.
Exclusive: Subtly and not so subtly, Republican presidential contenders are playing the race card again, hoping to win over the votes of angry whites by implicitly blaming the shrinking of the middle-class on preferential treatment of blacks and other minorities, reports Robert Parry.
U.S. political journalists love to cover the horse race of presidential politics – focused on polls and gaffes – while usually obscuring the nation’s actual problems and how the candidates and their proposals relate to this real world, as Danny Schechter notes.
Republicans are fond of throwing the charge “class warfare” at anyone who seeks to reverse the rapid division of modern society into haves and have-nots. But the ancient story of Cain and Abel is a cautionary tale about the violence that class stratification inevitably brings, writes Rev. Howard Bess.
As you know, Consortiumnews.com relies almost exclusively on the support of our readers. So, as 2011 ends, we wanted to express our thanks and present a selection of the important articles from the past year that your donations helped make possible.
For many people around the world, 2011 was a very tough year, as millions lost jobs, suffered foreclosures and faced austerity, while the rich did fine and corporations hoarded trillions of dollars in cash. But there were glimmers of hope in the emergence of resistance, writes Danny Schechter.