Democrats considered the working class as core constituents — years ago!

❝ What has happened in America should not be seen as a victory for hatefulness over decency. It is more accurately understood as a repudiation of the American power structure.

At the core of that structure are the political leaders of both parties, their political operatives, and fundraisers; the major media, centered in New York and Washington DC; the country’s biggest corporations, their top executives, and Washington lobbyists and trade associations; the biggest Wall Street banks, their top officers, traders, hedge-fund and private-equity managers, and their lackeys in Washington; and the wealthy individuals who invest directly in politics…

What happened?

❝ The power structure of America wrote off Sanders as an aberration, and, until recently, didn’t take Trump seriously. A respected political insider recently told me most Americans were largely content with the status quo. “The economy is in good shape,” he said. “Most Americans are better off than they’ve been in years.”

Recent economic indicators may be up, but those indicators don’t reflect the insecurity most Americans continue to feel, nor the seeming arbitrariness and unfairness they experience. Nor do the major indicators show the linkages many Americans see between wealth and power, stagnant or declining real wages, soaring CEO pay, and the undermining of democracy by big money.

❝ Median family income is lower now than it was 16 years ago, adjusted for inflation. Workers without college degrees – the old working class – have fallen furthest. Most economic gains, meanwhile, have gone to the top. These gains have translated into political power to elicit bank bailouts, corporate subsidies, special tax loopholes, favorable trade deals and increasing market power without interference by anti-monopoly enforcement – all of which have further reduced wages and pulled up profits.

Wealth, power and crony capitalism fit together. Americans know a takeover has occurred, and they blame the establishment for it.

❝ The Democratic party once represented the working class. But over the last three decades the party has been taken over by Washington-based fundraisers, bundlers, analysts, and pollsters who have focused instead on raising campaign money from corporate and Wall Street executives and getting votes from upper middle-class households in “swing” suburbs…

Democrats have occupied the White House for 16 of the last 24 years, and for four of those years had control of both houses of Congress. But in that time they failed to reverse the decline in working-class wages and economic security. Both Bill Clinton and Barack Obama ardently pushed for free trade agreements without providing millions of blue-collar workers who thereby lost their jobs means of getting new ones that paid at least as well…

❝ Now Americans have rebelled by supporting someone who wants to fortify America against foreigners as well as foreign-made goods. The power structure understandably fears that Trump’s isolationism will stymie economic growth. But most Americans couldn’t care less about growth because for years they have received few of its benefits, while suffering most of its burdens in the forms of lost jobs and lower wages.

The power structure is shocked by the outcome of the 2016 election because it has cut itself off from the lives of most Americans. Perhaps it also doesn’t wish to understand, because that would mean acknowledging its role in enabling the presidency of Donald Trump.

Yes, I’m older than Robert Reich. Definitely more cynical. I’ve been watching the process he describes since the Truman Administration. Hypocrites like Hubert Humphrey helped found the Americans for Democratic Action as an antidote to progressive and class-conscious activism. Ain’t nothing quite like class collaboration to get your heart pumping – if your political life is dedicated to 2-party folderol over class confrontation and warfare.

Other than that – I agree with his analysis. My criticism is more of timeline and details.

I’m still a working class guy from a New England factory town. I went to work in a shithole factory when I was 17 years old – when Democrats were falling over each other to prove to Joe McCarthy, the Republican Party and America’s media barons they could red-bait with the worst of them. It took the civil rights movement, the anti-war movement, to shove Dems into class consciousness, sort of, again. What Reich describes is the second sellout in my lifetime.

Minnesota, God and the $190 million fraud


Now, do we get the Kool-Aid?

1,200 investors, and more than $190 million lost in just 3 years. It all began as market turmoil gained momentum in the run-up to the Great Recession, and investors were searching for a safe haven for their savings.

Minnesota money manager Trevor Cook and radio show host Pat Kiley said they had the answer, with the promise of solid returns and a no-loss guarantee. The Securities and Exchange Commission, however, calls it a “scheme to defraud perpetrated by Cook and Kiley…”

Kiley, 72, used the airwaves to get the word out on his weekly Christian radio program, “Follow the Money.” Kiley called his listeners “truth seekers” and appealed to their distrust of Wall Street and the government…

Cook and Kiley told investors that they could withdraw their money at any time. Now almost all the money is gone, and investors are out of luck…

Cook, according to the SEC, used $51 million collected from investors in later years to pay off early investors — a classic Ponzi scheme structure similar to the one orchestrated by Bernie Madoff. As with Madoff, Cook’s investors were given phony account statements that “falsely reported substantial, continuing gains,” according to the SEC.

In its complaint, the SEC says that Cook and Kiley diverted nearly $43 million, “of their victims’ money to their own personal purposes … and for other illegal purposes…”

Some investors were drawn in through Kiley’s radio show. In fact…Kiley claims his radio program brought in 75% of the funds raised in the foreign currency program…

Merri Jo Gillette, who heads the SEC’s Midwest division in Chicago, says even with an enforcement staff of 100 overseeing a 9-state region, the agency is understaffed and is “light-years behind the industry” technologically due to lack of funding. “Nobody’s gonna protect you from these folks except yourself,” Gillette told CNNMoney.

If it sounds too good to be true, it probably isn’t.

If it sounds too good to be true – but, “God says it’s safe” – run for the nearest exit!