Robert Reich

[0] https://robertreich.substack.com/ > Robert Reich > Exposing where power lies in our system -- and how it's used and abused > Thousands of paid subscribers The author is literally paid to write this stuff.

The number of millionaires has tripled in the last 4 years. Corporate profits are amazing. If Biden had been a Republican they’d be carving Rushmore now. https://www.statista.com/chart/30671/number-of-millionaires-and-share-… https://robertreich.substack.com/p/corporate-soaring-profits-are-from

Robert Reich would agree per John Kenneth Galbraith at a higher level of abstraction. Strong, nearly equal-strength parties is better for democracy than a lopsided near-monopoly. "The Disease of American Democracy" 2014 http://robertreich.org/post/95109113190 In an ideal world, a parliamentary/coalition system maybe better because it promotes greater socio-political evolution and forces parties/leaders to put forth better platforms. There are other pros/cons as well.

Well, I read the article. It's not that great. Why? Because it's a mix 'n match of quotes, bits and pieces and observations cobbled together to support the thesis that digital technology will disrupt how information - and therefore our thinking about the world - is controlled. It's not that he's factually wrong about what he's saying. Rather, it's that the article lacks any references to a foundational understanding of historical dynamics and current affairs regarding economics, politics or economics. Everything he discusses has a historical context steeped in competing ideological, economical and political theories that have shaped the world since World War 1. And yet, he makes no mention that background whatsoever. On the contrary. For instance. > Like a fish in water, we’re unaware of the integration between our education system, the corporate structure, and our media environment. Uh. No. There's very much awareness about this among those who have participated in this debate and who are extremely worried about the state of education in America. And it's a debate about investing in public infrastructure, the advantages and drawbacks of free market dynamics in education and the long term impact on future generations. For instance, Mary Sue Coleman, president of the Association of American Universities and former president of the University of Michigan and the University of Iowa, wrote in the Washington Post back in 2016: > Public higher education is at a tipping…

Better hope this bill that house republicans have passed dies in the senate, since in effect it lets Trump override the courts: https://robertreich.substack.com/p/the-hidden-provision-in-the-big-ugl…

The campaign obviously had that concern and acted on it; it’s irrelevant if you think it’s “tortuous logic”. When did the affair occur? When did the payment occur, and what was the surrounding context? — https://en.m.wikipedia.org/wiki/Stormy_Daniels–Donald_Trump_scandal Then, read this again — https://robertreich.substack.com/p/dont-call-it-the-hush-money-case “This case alleges that in 2016 Trump arranged to pay off an adult entertainer in order to hide his affair with her from the public. The important thing to keep in mind is that the money was given to protect Trump’s campaign for the presidency — not to protect his marriage or protect him from personal embarrassment.”

"sticky" inflation? Is that really what they're calling it now? https://robertreich.substack.com/p/its-greedflation-stupid

No; prices went up fast but there is nothing to drive them back down (ie competiton) even with inputs costs having declined due to monetary policy. Ergo, inflation was used as cover to hold prices high long after their cause had subsided. https://robertreich.substack.com/p/corporate-soaring-profits-are-from

Should've considered it sooner. Their problems didn't start with the door plug fault -- "Why is Boeing such a shitty corporation?" https://robertreich.substack.com/p/why-is-boeing-such-a-shitty-corpora…

Boeing’s problem does have to do with making an extra dollar at the expense of other concerns. “Why is Boeing such a shitty corporation?” —- https://robertreich.substack.com/p/why-is-boeing-such-a-shitty-corpora…

Re Glass-Steagall and 2008 crisis, Robert Reich and Elizabeth Warren disagree with you [https://robertreich.org/post/124114229225]. According to you, which legislation prevented the conflict-of-interest in banks writing trillions in subprime mortgages decades prior to 1999? or securities firms selling CDOs backed by subprime MBS? IIUC, the issue in 2008 was never "preventing mortgage CDOs" outright, but preventing the inflated valuations on junk tranches of subprime, i.e. mortgage lenders allowing securities sellers to intentionally create and sell junk with their assets. (and I clearly didn't say Glass-Steagall would have done anything for SVB or Signature; I was saying banks like Chase's selective edit of the chain of events around 2008 was a whitewash because it omitted mention of key events.)

There's a Robert Reich article from a year ago that predicted this kind of division on issues. He says that the two new sides are "populist" vs "establishment". It looks to me like he was right. http://robertreich.org/post/84984296635 It really explains a lot, like why a lot of people feel so differently about Hillary Clinton vs. Bernie Sanders, or Jeb Bush vs. Rand Paul. I think we could say that Sanders and Paul are members of a new invisible party of populists, while Bush and Clinton are members of a pro-establishment party.

> I think I may just have to stop by my local Wal-Mart and take advantage of some of those deals Yeah, that's the spirit. Head on over and contribute to the problem [1][2][3] 1. http://robertreich.org/post/36219730368 2. http://www.thenation.com/blog/171389/worker-group-alleges-walmart-told… 3. http://occupyamerica.crooksandliars.com/diane-sweet/support-walmart-bl…

Robert Reich[1] in http://robertreich.org/post/26708840314: And it would amount to a rip-off of almost cosmic proportion – trillions of dollars that you and I and other average people would otherwise have received or saved on our lending and borrowing that have been going instead to the bankers. It would make the other abuses of trust we’ve witnessed look like child’s play by comparison. Sad to say, there’s reason to believe this has been going on, or something very much like it. This is what the emerging scandal over “Libor” (short for “London interbank offered rate”) is all about. [1] Chancellor’s Professor of Public Policy at the University of California at Berkeley, was Secretary of Labor in the Clinton administration.

If Robert Reich is correct, the degree of dereliction of duty is horrendous: http://robertreich.org/post/604861772/bp-stands-for-bad-petroleum.

I would have to disagree with that as a blanket statement. Plenty of "successful" businesses use other means besides added value to extract rents from customers. Robert Reich has recently written very eloquently and convincingly about how multi-national corps are using all sorts non-value producing economics to increase bottom lines at our expenses. For example, Americans pay more for pharmaceuticals than do the citizens of any other developed nation. That’s partly because it’s perfectly legal in the U.S. (but not in most other nations) for the makers of branded drugs to pay the makers of generic drugs to delay introducing cheaper unbranded equivalents, after patents on the brands have expired. This costs you and me an estimated $3.5 billion a year – a hidden upward redistribution of our incomes to Pfizer, Merck, and other big proprietary drug companies, their executives, and major shareholders.[1] [1] http://robertreich.org/post/132363519655

Maybe not, but I think it's perfectly fair to have an article that looks into it. Too bad this article fell way short. I would point out: * Software companies, specifically, are more likely to be freeloaders than non-software companies. Tax avoidance schemes such as the Double Irish + Dutch Sandwich allow companies that make revenues primarily from intellectual property laws to skirt US and California taxation[1], and are therefore freeloading on the local governments by taking advantage of the talent from public schools (UC Berkeley), the local government infrastructure (roads, bridges, highways and freeways; a standardized electrical grid with a [somewhat] regulated utility company; financial regulations that keep [some] public faith in the banks and the US Dollar fiat currency; police system to keep the peace; fire systems to prevent runaway fires and catch arsonists; an intellectual property system that protects patents, copyrights, and trademarks [if you see the system as "protecting" these things]; a judicial system that allows persons and companies some say in how the law is applied to them and some opportunities to use litigation to enforce contracts; and national defense to prevent national instability and potential loss of private property or lives). * For whatever reasons, tech companies want to be located within miles of each other, all challenging each other for talent and office space in a small geographic area, and all of the secondary effects of those…