Height of Delusion

This is one of the most delusional things I have read in my entire life. It simply amazes me that anyone not in elite circles could believe garbage like this.

Why Democrats Need Wall Street

Many of the most prominent voices in the Democratic Party, led by Bernie Sanders, are advocating wealth redistribution through higher taxes and Medicare for all, and demonizing banks and Wall Street.
 
 Memories in politics are short, but those policies are vastly different from the program of the party’s traditional center-left coalition. Under Bill Clinton, that coalition balanced the budget, acknowledged the limits of government and protected the essential programs that make up the social safety net.
 
 President Clinton did this, in part, by moving the party away from a reflexive anti-Wall Street posture. It’s not popular to say so today, but there are still compelling reasons Democrats should strengthen ties to Wall Street.
 
 As the party has left behind that version of liberalism, it has also found its way to its weakest electoral position — nationally and at the state level — since the 1920s. Hillary Clinton’s lurch to the left probably cost her key Midwestern states that Barack Obama had won twice and led to the election of Donald Trump.
 
 After the 2016 election, the Democratic vice-presidential nominee, Senator Tim Kaine of Virginia, warned that the party’s “broad anti-business rhetoric” distracts its leaders from making growth the goal and “manages to scare off entrepreneurs and small businesses, too.”
 
 Democrats should keep ties with Wall Street for several reasons. The first is an ugly fact of politics: money. Maintaining ties to Wall Street makes economic sense for Democrats and keeps their coffers full.
 
 In the 2016 election, the Center for Responsive Politics reports, employees and companies in the securities and investment industry donated more than $63 million to the Democratic Party.
 
 For the 2020 election, some of the party’s strongest potential presidential candidates — Senators Cory Booker, Kirsten Gillibrand and Kamala Harris as well as Deval Patrick, the former Massachusetts governor — should not be dismissed simply because of their current or past ties to Wall Street.
 
 If voters really hated ties to Wall Street and financial elites, Republicans would not enjoy such a commanding electoral position — or have elected a New York plutocrat president. Most voters’ major problems with President Trump stem from his performance, not from his wealth or connections to Wall Street.
 
 A second reason Democrats should keep ties with Wall Street: Despite what the Democratic left says, America is a center-right, pro-capitalist nation. A January Gallup poll found that moderates and conservatives make up almost 70 percent of the country, while only 25 percent of voters identify as liberal. Even in May 2016, when Senator Sanders made redistribution a central part of his platform, Gallup found that only about 35 percent of Americans had a positive image of socialism, compared with 60 percent with a positive view of capitalism.
 
 Third, it is hypocritical for Democrats to maintain ties to Silicon Valley and then turn their backs on the very people who help finance its work. The financial industry brings to market the world’s most innovate products and platforms that expand the economy and create jobs.
 
 Fourth, demonizing Wall Street does nothing to bridge the widening gaps in our country. Wall Street has its flaws and abuses, which were addressed in part by the Dodd-Frank financial reform law. And yes, the American people are certainly hostile to and suspicious of Wall Street. But using this suspicion and hostility as the organizing principle for a major political party will consign Democrats to permanent minority status.
 
 Here’s what the Democrats need to do instead: develop a set of pro-growth, inclusive economic policies. Democratic leaders must prioritize entrepreneurship, small-business growth and the expansion of job-training and retraining programs.
 
 American leadership in finance will make it possible for our country to invest as much as $1 trillion in infrastructure, extend health care access to every American at an affordable rate and lift the 76 million Americans who are barely surviving financially, as reported in May 2016 by the Federal Reserve, into the middle class.
 
 The Democrats need to partner with the financial community on these issues. Most important, the Democrats have simply had an ineffective, negative and coercive economic message. Advocacy of a $15 minimum wage and further banking regulation does not constitute a positive, proactive agenda.
 
 The Democrats cannot be the party that supports only new, stifling regulations. Reducing regulation allows banks to employ capital and finance investment in our country’s future, making electric cars, renewable energy and internet connectivity across the globe a reality.
 
 This was evident to Democrats in the 1990s. From 1996 to 2000, for example, Democrats led the way on two key economic legislative victories. First, the Telecommunications Act of 1996 deregulated the communications and cable industries, increased growth and enhanced market competition. Second, the Financial Services Modernization Act of 1999 removed regulations placed on financial institutions by bureaucrats and expanded opportunities for Wall Street to engage in mergers and acquisitions, adding wealth to the retirement accounts and other investment portfolios of millions of middle-class Americans.
 
 If the party is going to have any chance of returning to its position of influence and appeal, Democrats need to work with Wall Street to push policies that create jobs, heal divisions and stimulate the American economy.
 
 
SOURCE

the party’s traditional center-left coalition. Under Bill Clinton

Imagine believing something this retarded. It was the Clintons and the Koch backed DLC that led the charge of transforming the Democrats into a neoliberal center-right party. Even in their most FDR leftist of leftist days, the Democrats were only slightly left of center.

As the party has left behind that version of liberalism, it has also found its way to its weakest electoral position — nationally and at the state level — since the 1920s. Hillary Clinton’s lurch to the left probably cost her key Midwestern states that Barack Obama had won twice and led to the election of Donald Trump.

Lurch to the left?!

Jesus fucking Christ, this author is not living in the land of reality. Clinton and the DNC shat on anything remotely leftist and actively courted suburbanite moderate Republicans. She lost the Rust Belt mainly because it’s a region that has been devastated by NAFTA and Trump campaigned against the TPP, which Clinton once called the gold standard of trade deals, so no one believed her lying ass when she claimed at the last minute to be against it. Oh and Obama was still trying to get the TPP passed until his last day in office. Yeah, Obama won those states twice and did jack shit nothing to fix their economic woes. 
 
 Speaking of the 1920s, you know what happened next? The Great Depression, followed by FDR and the New Deal. Those left of center policies were so popular with the American people that they elected FDR until his death and Democrats dominated Congress for the next 50 years. Now that they have completely abandoned the New Deal to get in bed with Wall Street, they have lost control of Congress. Yet, dumbass here thinks they need to do even more of the thing that has wrecked their party so badly.

Democrats should keep ties with Wall Street for several reasons. The first is an ugly fact of politics: money. Maintaining ties to Wall Street makes economic sense for Democrats and keeps their coffers full.

This has already been disproved in the strongest terms possible. Clinton outspent Trump 2 to 1 and still lost. Bernie proved you can raise tremendous amounts of cash through small donations. And, the DNC is currently seeing it’s lowest fundraising totals in over a decade, even after they moved further right by scrapping the rule that says they won’t take donations from lobbyists.

For the 2020 election, some of the party’s strongest potential presidential candidates — Senators Cory Booker, Kirsten Gillibrand and Kamala Harris as well as Deval Patrick, the former Massachusetts governor — should not be dismissed simply because of their current or past ties to Wall Street.

Yes, yes they should. If your answer to losing an election to cartoon villain is to continue along the same path, then you’re a fucking retard. The status quo has failed the USA, so if you continue to push status quo candidates, do not be surprised if you continue to lose.

If voters really hated ties to Wall Street and financial elites, Republicans would not enjoy such a commanding electoral position

Republicans don’t win because a majority of voters want Republican policies. They win because neoliberal Democrats are epic failures. Americans were so sick of Republicans after the Dubya disaster that they gave complete control of the country to Democrats. Then the Democrats gave us a right wing healthcare reform and gave a trillions+ dollar blow job to the criminal bankers while over 5 million Americans lost their homes to fraud. When you are given control of the government and the first thing you do is fuck over your constituents, it should come as a surprise to exactly no one when you get voted out office, even if the alternative is even more repugnant. Americans are going to keep voting for change until they get it. Obama ran on hope and change and left us with no hope and no change. Trump ran as an anti-establishment candidate and has turned into the most establishment Republican ever. And when Americans get tired of the current shit show, they’ll go back the other way. When that happens, if the Democrats continue on the same path they’re on, we’ll just keep circling the drain of stupid.

A second reason Democrats should keep ties with Wall Street: Despite what the Democratic left says, America is a center-right, pro-capitalist nation. A January Gallup poll found that moderates and conservatives make up almost 70 percent of the country, while only 25 percent of voters identify as liberal. Even in May 2016, when Senator Sanders made redistribution a central part of his platform, Gallup found that only about 35 percent of Americans had a positive image of socialism, compared with 60 percent with a positive view of capitalism.

More deceitful bullshit. Americans are fucking morons when it comes to political labels. Social issues get conflated with actual left/right economic positions. When you go policy by policy, a majority of Americans are very much left of center. Things like a higher minimum wage, higher taxes on the rich, universal healthcare, all have majority support amongst the American people. During the primaries, Bernie won a lot of the “conservative” states because the socialist label the author here is trying to use as a weapon did not hurt him. People were more interested in his policies and his policies consistently poll well with the American people. Political labels have been so misused in the USA that they have basically lost all meaning, as proven by Captain Retard here calling 90s Democrats a center left party.

Here’s what the Democrats need to do instead: develop a set of pro-growth, inclusive economic policies. Democratic leaders must prioritize entrepreneurship, small-business growth and the expansion of job-training and retraining programs.

More Republican talking points.

The Democrats need to partner with the financial community on these issues. Most important, the Democrats have simply had an ineffective, negative and coercive economic message. Advocacy of a $15 minimum wage and further banking regulation does not constitute a positive, proactive agenda.

The aggressively stupid author here is suggesting that to help the working class, the Democrats must be in bed with the financial industry. The problem being, the goals of each are fundamentally opposed to each other. I know a lot of Americans like to keep their heads firmly planted up their asses but the banks are out of control and an even bigger crash than 9 years is quickly approaching. Glass-Steagall has not been reinstated. The banks are even bigger than the last time they crashed. The subprime mortgage bubble has been reinflated. There’s also a car loan bubble that’s getting ready to pop. Debt is skyrocketing while the ability of the common man to pay that debt is disappearing. Millions got fucked over and lost their homes to fraud during the last crash. Wells Fargo has been in the news lately for opening fraudulent accounts. And yet, this fucking moron here is trying to claim that running on a platform of getting the banks under control is not a positive message. Oh yeah, people don’t want higher wages either. The only people that consider higher wages and reigned in banks to not be a “positive, proactive agenda” are the banks themselves.

Reducing regulation allows banks to employ capital and finance investment in our country’s future, making electric cars, renewable energy and internet connectivity across the globe a reality.

This line reeks of race to the bottom globalism. Give us more! Give us more! Then we’ll invest it, honest!

This was evident to Democrats in the 1990s. From 1996 to 2000, for example, Democrats led the way on two key economic legislative victories. First, the Telecommunications Act of 1996 deregulated the communications and cable industries, increased growth and enhanced market competition

Enhanced market competition? Are you fucking kidding me? It did the exact opposite of that. It led to 6 major media companies owning 90% of the media. That’s a consolidation of power and a lessening of market competition.

Second, the Financial Services Modernization Act of 1999 removed regulations placed on financial institutions by bureaucrats and expanded opportunities for Wall Street to engage in mergers and acquisitions, adding wealth to the retirement accounts and other investment portfolios of millions of middle-class Americans.

Now the author is just outright praising monopolies. There was a time when Americans understood that monopolies were a bad thing. That’s why we have anti-trust laws. Those laws are still on the books but they haven’t been enforced in decades. The claim being made here is that if we just let Wall Street do whatever the fuck it wants to, it’ll somehow benefit the rest of us. If you believe that, I’ve got a bridge in New York to sell you.

If the party is going to have any chance of returning to its position of influence and appeal, Democrats need to work with Wall Street to push policies that create jobs, heal divisions and stimulate the American economy.

Obama bragged about all of his job creation too. What they fail to admit is that they’re all low paying crappy jobs with little to no benefits. Jobs are not a good thing in and of themselves if those jobs do not provide any reasonable standard of living. The more Wall Street takes, the less there is for everyone else. 
 
 The sum of the argument being presented here is that Democrats need to become even more Republican than they already are if they want to win elections. Of course, they’ve been on this rightward lurching neoliberal corporatist path for the past 30+ years and now they are wiped out on a national level. Establishment Democrats believe they can be socially liberal and economically conservative and that will win them elections. Well, there’s not enough gay wedding cakes and abortion rights in the world to keep yourself in power if you fuck people over economically in the process. What’s so completely insane about all of this is that they’ll probably regain power while changing nothing after Trump and the Republicans wreck the economy. The entire strategy of these Democrats is to tell the American people to be happy with your table scraps because the Republicans won’t give you any table scraps at all. Contrary to what the author of this piece would have you believe, the existence of the Democratic establishment is not to defeat Republicans but to keep the left out of power. They fear anything even remotely leftist, which is why they attack centrist Bernie and his supporters even more viciously than they attack Republicans. They are desperate for so called unity because they know they’ll have another chance at power when the GOP inevitably fails hard. If/when that happens and the very same people with the very same policies that led to a dotard like Trump in the first place are put back into power, then the USA is well and truly fucked.