Follow & Support The BRAD BLOG!
&

Now Celebrating
18 years of The BRAD BLOG!
Finally old enough to vote in our 19th year of independent trouble-making, muckraking, blogging, reporting and broadcasting!
Latest Featured Reports | Tuesday, May 17, 2022
'A Movement Not a Moment': Rev. Barber Says 'Consistency' Needed to Restore America: 'BradCast' 5/17/22
Guests: Rev. Dr. William J. Barber; Kenia Alcocer of CA Poor People's Campaign...
Sunday 'Undesirable Outcomes' Toons
You can chalk up PDiddie's latest weekly toon collection to the rightwing radicalism still unmooring our nation from facts and reality...
Attempted Stolen Election, Stolen Docs, and Yes, Murder: 'BradCast' 5/12/22
McCarthy subpoenaed for J6; New fed grand jury for Trump; Eastman advised 2020 election theft in PA; Trump, meatpackers deadly collusion; DeSantis FL gerrymander nixed...
'Green News Report' 5/12/22
  w/ Brad & Desi
Great Barrier Reef bleaching again; Global warming and new diseases; Interior cancels offshore lease sales; PLUS: AZ, CA move to enact more severe drought restrictions...
Recent GNRs: 5/10/22 - 5/5/22 - Archives...
It Ain't the Supply Chain or War. It's the Greed: 'BradCast' 5/11/22
Guest: Inequality.org's Omar Ocampo: Also: NE, WV primary results (who cares what they mean for Trump?); Federal court allows assault weapon sales to CA kids...
Greene Let Off Hook in GA for 'Insurrection', Challengers Appeal: 'BradCast' 5/10/22
Guest: FSFP President John Bonifaz with updates on ballot eligibility challenges in GA, AZ, NC; Also: Leaked SCOTUS 'Roe' opinion shaking up midterms...
'Green News Report' 5/10/22
Raging wildfires in NM; Siberian fires out of control as Russian military otherwise busy; CA plan to cut cow burps; PLUS: Arctic wildfires speeding Arctic ice melt...
'2000 Mules', 74M Repub Dupes, and GOP Fraud Continues: 'BradCast' 5/9/22
Convicted election fraudster D'Souza makes a 2020 election fraud doc; Also: White GOP voter fraud criminal gets no jail time for voting twice...
Sunday 'Mothers Day' Toons
'More of a collection that reflects a future for women who'll be forced to become mothers as a result of someone else's edict'...
After Justices Lied About 'Roe', GOP Ducks, Dems Mount Response: 'BradCast' 5/6/22
Guest: Heather Digby Parton; Also: Biden's record jobs; Trump wanted to bomb Mexico...
Not Everything Sucks. Organized Labor is Rising: 'BradCast' 5/5/22
Guest: Jordan Zakarin of Progress Report, More Perfect Union; Also: Obamas on SCOTUS gutting Roe's Const'l freedoms; Big Oil's record profits, wartime profiteering...
'Green News Report' 5/5/22
EU proposes Russian oil embargo; Plummeting reservoirs prompt 'unprecedented' cutbacks, expose grim secrets in West; PLUS: CA A.G. probes plastic recycling scam...
Midterm Primary Season Kicks of With Voting System Failures in OH: 'BradCast' 5/4/22
Also: Brown defeats Turner in OH; Trump-endorsees win in OH, IN; Amazing appeals court hearing in Cawthorn eligibility case; Trump wanted to shoot BLM protesters...
'Green News Report' 5/3/22
Unprecedented heat in India, Pakistan; 20% of reptiles face extinction; Denmark to ditch natural gas; PLUS: Mass extinction in oceans could be avoided...
BARCODED BALLOTS AND BALLOT MARKING DEVICES
BMDs pose a new threat to democracy in all 50 states...
VIDEO: 'Rise of the Tea Bags'
Brad interviews American patriots...
'Democracy's Gold Standard'
Hand-marked, hand-counted ballots...
Brad's Upcoming Appearances
(All times listed as PACIFIC TIME unless noted)
Media Appearance Archives...
'Special Coverage' Archives
GOP Voter Registration Fraud Scandal 2012...
VA GOP VOTER REG FRAUDSTER OFF HOOK
Felony charges dropped against VA Republican caught trashing voter registrations before last year's election. Did GOP AG, Prosecutor conflicts of interest play role?...

Criminal GOP Voter Registration Fraud Probe Expanding in VA
State investigators widening criminal probe of man arrested destroying registration forms, said now looking at violations of law by Nathan Sproul's RNC-hired firm...

DOJ PROBE SOUGHT AFTER VA ARREST
Arrest of RNC/Sproul man caught destroying registration forms brings official calls for wider criminal probe from compromised VA AG Cuccinelli and U.S. AG Holder...

Arrest in VA: GOP Voter Reg Scandal Widens
'RNC official' charged on 13 counts, for allegely trashing voter registration forms in a dumpster, worked for Romney consultant, 'fired' GOP operative Nathan Sproul...

ALL TOGETHER: ROVE, SPROUL, KOCHS, RNC
His Super-PAC, his voter registration (fraud) firm & their 'Americans for Prosperity' are all based out of same top RNC legal office in Virginia...

LATimes: RNC's 'Fired' Sproul Working for Repubs in 'as Many as 30 States'
So much for the RNC's 'zero tolerance' policy, as discredited Republican registration fraud operative still hiring for dozens of GOP 'Get Out The Vote' campaigns...

'Fired' Sproul Group 'Cloned', Still Working for Republicans in At Least 10 States
The other companies of Romney's GOP operative Nathan Sproul, at center of Voter Registration Fraud Scandal, still at it; Congressional Dems seek answers...

FINALLY: FOX ON GOP REG FRAUD SCANDAL
The belated and begrudging coverage by Fox' Eric Shawn includes two different video reports featuring an interview with The BRAD BLOG's Brad Friedman...

COLORADO FOLLOWS FLORIDA WITH GOP CRIMINAL INVESTIGATION
Repub Sec. of State Gessler ignores expanding GOP Voter Registration Fraud Scandal, rants about evidence-free 'Dem Voter Fraud' at Tea Party event...

CRIMINAL PROBE LAUNCHED INTO GOP VOTER REGISTRATION FRAUD SCANDAL IN FL
FL Dept. of Law Enforcement confirms 'enough evidence to warrant full-blown investigation'; Election officials told fraudulent forms 'may become evidence in court'...

Brad Breaks PA Photo ID & GOP Registration Fraud Scandal News on Hartmann TV
Another visit on Thom Hartmann's Big Picture with new news on several developing Election Integrity stories...

CAUGHT ON TAPE: COORDINATED NATIONWIDE GOP VOTER REG SCAM
The GOP Voter Registration Fraud Scandal reveals insidious nationwide registration scheme to keep Obama supporters from even registering to vote...

CRIMINAL ELECTION FRAUD COMPLAINT FILED AGAINST GOP 'FRAUD' FIRM
Scandal spreads to 11 FL counties, other states; RNC, Romney try to contain damage, split from GOP operative...

RICK SCOTT GETS ROLLED IN GOP REGISTRATION FRAUD SCANDAL
Rep. Ted Deutch (D-FL) sends blistering letter to Gov. Rick Scott (R) demanding bi-partisan reg fraud probe in FL; Slams 'shocking and hypocritical' silence, lack of action...

VIDEO: Brad Breaks GOP Reg Fraud Scandal on Hartmann TV
Breaking coverage as the RNC fires their Romney-tied voter registration firm, Strategic Allied Consulting...

RNC FIRES NATIONAL VOTER REGISTRATION FIRM FOR FRAUD
After FL & NC GOP fire Romney-tied group, RNC does same; Dead people found reg'd as new voters; RNC paid firm over $3m over 2 months in 5 battleground states...

EXCLUSIVE: Intvw w/ FL Official Who First Discovered GOP Reg Fraud
After fraudulent registration forms from Romney-tied GOP firm found in Palm Beach, Election Supe says state's 'fraud'-obsessed top election official failed to return call...

GOP REGISTRATION FRAUD FOUND IN FL
State GOP fires Romney-tied registration firm after fraudulent forms found in Palm Beach; Firm hired 'at request of RNC' in FL, NC, VA, NV & CO...
The Secret Koch Brothers Tapes...


Guest: American Prospect's David Dayen; Also: Omicron lab studies suggest booster shots critical; Congressional priorities laid bare...
By Brad Friedman on 12/8/2021 6:15pm PT  

The U.S. economy, of course, has been rigged for years. The pandemic, in the meantime, has now made that clearer than ever. Not that the corporate media is bothering to explain it to Americans. So, w try to do so on today's BradCast. [Audio link to full show is posted below this summary.]

But, first up, results from several, eagerly awaited new lab studies on the effectiveness of the mRNA vaccines from Pfizer and Moderna on the Omicron variant have been released over the past 24 hours. Two independent studies, one from South Africa and another from Sweden, along with a press release on findings of a study by Pfizer, all suggest that getting a booster shot as soon as possible is the best way to avoid severe illness both from Omicron and all of the other previously-known variants. We walk you through the details and explain the findings today.

The upshot: Two vaccine doses and natural immunity from COVID is way better against Omicron than just two vaccine doses. Two vaccine doses and a booster shot is as good or better than two doses and COVID. So, unless you want to try your luck by getting COVID to protect yourself against it, a booster shot, right now, is your very best best. That, as infections, hospitalizations and deaths are all beginning to sky-rocket again, as the nation is on the verge of 800,000 COVID deaths.

Next, we've been reporting for the past several weeks on the lousy job the corporate media have been doing in covering what is, overall, a surprisingly robust economic recovery in the first year of the Biden Administration, as the nation (and world) struggles to emerge from our nearly two-year pandemic.

One of the media's worst and most misleading points of coverage has been on the matter of inflation. And, while our regular, global supply chains have certainly become knotted up, leading to legitimate upward price pressures, much of the added costs for goods and services is now thanks to good old profiteering and price fixing by companies which have been enjoying record profits, even during the worst of the pandemic and subsequent supply chain snarls.

As our guest today, author and financial journalist DAVID DAYEN, Executive Editor of The American Prospect recently reported, "In a time of high inflation, you hear a lot about companies 'passing costs' on to customers. In order for companies to maintain their God-given right to earn a profit, they must raise prices to offset the cost of producing goods and getting them into peoples’ hands. And thanks mostly to the hidden risk, exposed by the pandemic, of neoliberal gospels like just-in-time logistics, deregulation, and offshoring, prices really are going up."

"But," he continues, "there’s something else mixed in with this latest bout of inflation. Companies aren’t just passing costs onto us. With corporations using inflation as a cover for raising their prices, you and I are passing profits onto companies."

Dayen, author of the new book Monopolized: Life in the Age of Corporate Power, details how companies are not only profiteering, price-fixing and colluding to do so, they're actually bragging about it, out loud, on corporate earnings calls. That is sending up both stock prices and profits up for hundreds of the most profitable public corporations, many of whom have monopolistically been allowed to corner their markets, giving consumers few, if any, cheaper alternatives for the products and services they sell. Companies that don't play ball --- like Target, which announced they would not be raising prices --- have been punished, in turn, by Wall Street for daring to do so.

"The problem is that we have a business climate today where people have locked in their customer base. Your customers can't escape, because we have a series of consolidated companies that have a stranglehold on market share, and we don't even know that it's happening. You stroll down a grocery aisle and you see hundreds of items, but you don't know that the same handful of companies have created all of them," Dayen explains today. "And that's why you have large companies like Proctor & Gamble and Unilever saying 'We know we can raise prices on people...and we don't have to worry about any kind of material reaction.'" The same is true, of course, with many other companies, such as the Big Oil cartel, which is raking in record profits as raw materials fall, but failing to reflect those falling costs at the pump.

So, what, if anything, can be done about it? Are Presidents and their Administrations actually able to take actions that might roll back the corporate profiteering? Yes, Dayen explains, at least some, both with the use of the bully pulpit --- which, in the model of JFK, Biden has begun to try and do --- and also with the use of existing anti-trust and anti-price-fixing laws that are still on the books today, if rarely enforced.

"It is price-fixing," Dayen tells me. "But we don't spend a whole lot of time on that anymore in America. It's still unlawful. It's still occasionally prosecuted. And now we do have a different regime at places like the Federal Trade Commission, and the anti-trust division at the Justice Department." He believes that several key, progressive Biden appointments at both may be able to "turn the tide" back against corporate mergers and unapologetic (and potentially unlawful) corporate greed. "There is certainly a faction within the White House that feels like this is a serious problem and that we have to do everything possible to stamp it out," he says, but "they're swimming upstream, as it were."

There is a lot on these points to discuss with Dayen today. As well, we also get his reaction to the announcement today that Biden is withdrawing his nomination of Saule Omarova as Comptroller of the Currency, a key banking regulator, after red-baiting by Republican Senators (she was born in the Soviet Union) and concerns from conservative Democrats that she might be too tough on big banks. He also offers his two cents on our complaints, of late, about the terrible job that corporate media are doing in covering both Joe Biden and the economy.

Finally, after months of pretend complaints by Republicans and Democratic Senator Joe Manchin that spending $1.75 trillion in paid-for taxpayer dollars to expand health care, education, child care, elder care, and fight climate change over the next ten years in the Build Back Better bill is just too much money to spend for a poor country like ours, the House on Tuesday night, in record time, passed its latest annual defense spending bill with a lopsided bi-partisan vote in favor (opposed largely only by progressive Democrats). It'll cost nearly one trillion dollar ($768 billion, $24 billion more than the Biden Administration even asked for) for one single year of military spending --- much of which will go to stuff we never use and/or literally blow up.

Priorities.

CLICK TO LISTEN OR DOWNLOAD SHOW!...

* * *
While we post The BradCast here every day, and you can hear it across all of our great affiliate stations and websites, to automagically get new episodes as soon as they're available sent right to your computer or personal device, subscribe for free at iTunes, Stitcher, TuneIn or our native RSS feed!
* * *

MONTHLY BRAD BLOG SUBSCRIPTION
ONE-TIME DONATION


Choose monthly amount...


(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)




Guest: Labor historian Nelson Lichtenstein of UC Santa Barbara; Also: Federal Appeals Court hears Trump case for blocking release of Jan 6 docs; Meadows now said 'cooperating' with Jan 6 Committee...
By Brad Friedman on 11/30/2021 5:53pm PT  

The accountability train and unionization train are both chugging forward on today's BradCast. So, that's a good thing! And we've also got a news-packed catch-up episode of the Green News Report following our week off last week. [Audio link to full show is posted below this summary.]

First up, after losing at the U.S. District Court level, Donald Trump had his day before a three-judge panel at the D.C. Circuit Court of Appeals on Tuesday. He is still attempting to block the release of his White House documents related to the attack on the U.S. Capitol which he incited on January 6th in his desperate, last ditch effort to steal the 2020 election. The former President is claiming "executive privilege" to block the release of hundreds of documents, even though he is no longer President or, as the lower court judge declared just weeks ago: "Presidents are not kings and plaintiff is not President". The current President, Joe Biden, has rejected Trump's plea to invoke executive privilege to block the release of the White House records subpoenaed by the bipartisan U.S. House Select Committee investigating the January 6 attack. We detail today's hearing and the arguments made in court on both sides.

Next, in related news, Trump's former Chief of Staff, Mark Meadows, has also been subpoenaed for both documents and testimony by the House Select Committee. Like Steve Bannon before him, Meadows previously ignored those subpoenas, also claiming "executive privilege". But now that Bannon has been indicted on two federal counts of Contempt of Congress for having done so, Meadows appears to be having second thoughts. The Committee now says Meadows is cooperating and plans to sit for a deposition. The question remains as to how much he will actually share with the Committee, which still seems prepared to pull the "Contempt" trigger against him, if necessary.

Also coming up in related accountability news this week: A likely Contempt referral for low-level DoJ Trump lackey Jeffrey Clark, who the disgraced former President almost elevated to Attorney General just prior to January 6th attack, due to his willingness to lie to state legislatures that the DoJ had found fraud in the 2020 election. They didn't. Now, Clark has been refusing fully respond to the Committee's subpoenas and will hopefully pay a price for it in the coming days.

Meanwhile, in some good labor news on Monday, the National Labor Relations Board (NLRB) found in favor of the Retail, Wholesale and Department Store Union (RWDSU)'s complaint that retail giant Amazon unlawfully gamed a unionization vote at its Bessemer, Alabama warehouse earlier this year. The NLRB has now ordered a re-vote for workers this Spring, after they voted against unionization by a 2 to 1 margin following months of pressure, weekly mandatory meetings with anti-union consultants, and all other forms or propaganda from the company during the initial election.

We're joined to discuss the (seemingly) good news from the NLRB by longtime labor historian, author and Distinguished Professor at UC Santa Barbara, NELSON LICHTENSTEIN, who joined us earlier this year to discuss the initial, now nullified unionization vote in Bessemer.

The colorful Lichtenstein explains the history of similar revotes, how frequently they are ordered by the federal labor board and what the odds are of the union winning this time, given the nearly 100 percent turnover in workers at the e-commerce giant's Alabama fulfillment center since the initial vote last March. He also explains that while the NLRB found a number of violations by the company, most of the egregious stuff they did to intimidate workers --- including one-on-one pressure sessions, anti-union propaganda posted in restrooms, offers of $1,000 to quit --- is almost all actually legal under current federal law.

"Once Amazon realized that probably the election would be overturned, they once again began to hold these captive audience meetings," says Lichtenstein. "These are meetings that are called by the company as they lecture to the workers why a union is a bad thing. They're really closer to Maoist re-education camps or Stalinist coercion methods than anything else. That is happening as we speak. Plus, Amazon is also keeping tabs on who the union activists are."

"All this," he argues, "points out that we really need a completely fundamental and radical change in the labor law. And more than just the labor law --- in the whole ethos that surrounds the idea of workers having rights, a voice, and having a union."

As it turns out, there is a new labor law, the Protect the Right to Organize (or PRO) Act, currently pending in Congress. "It would make illegal these captive audience meetings, which are very, very intimidating and authoritarian. It would eliminate that. It would also increase the penalties --- the financial penalties --- on companies for violating the labor law," notes Lichtenstein, the author of some 16 books related to these issues. "Right now, how much does Amazon have to pay for its violation of the labor law, which is creating this new election? Zero. The penalties are utterly trivial."

But the odds for passage of the PRO Act at this time remain long, Lichtenstein concedes. That said, he also notes that both the recently signed bipartisan infrastructure bill and Joe Biden's still-pending Build Back Better social safety net and climate action proposal have quite a few measures that support union labor.

As the "Great Resignation" continues for workers who are finding opportunities with better pay and benefits elsewhere, while the nation tries to move on from the pandemic, Lichtenstein (who recently compared the situation to opportunities for former slaves during the Civil War reconstruction era in a Washington Post op-ed) does suggest a potential way forward for anti-union companies that now face threats of being broken up by Biden's aggressive appointees at federal agencies such as the Federal Trade Commission.

"What needs to happen is this," Lichtenstein advises, "you need to make management come to the conclusion that the lesser evil, the lesser problem in their business model, would be recognizing the union rather than facing the ire of either an aroused public or government action." He tells us that Amazon, Facebook and other Silicon Valley firms are facing a "re-invigoration of anti-trust law in the Biden Administration," which he describes as "actually very pro-labor."

Those companies, he notes, could use some friends, "and an essential ally is labor." Lichtenstein details how such alliances prevented the breakup of big chain stores under anti-trust laws in the 1930s and even at General Motors in the 1950s. "Companies like that said to the labor movement, 'Well, we'll recognize you, if you let us stay big.' And that happened!"

Finally today, Desi Doyen jams about 20 minutes (or more!) of environmental news into our latest 6-minute Green News Report in hopes of getting us at least partially caught up on so much that we missed after taking the last week off for the holiday...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

* * *
While we post The BradCast here every day, and you can hear it across all of our great affiliate stations and websites, to automagically get new episodes as soon as they're available sent right to your computer or personal device, subscribe for free at iTunes, Stitcher, TuneIn or our native RSS feed!
* * *

MONTHLY BRAD BLOG SUBSCRIPTION
ONE-TIME DONATION


Choose monthly amount...


(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)




Guest: Jon Schwarz of The Intercept: Also: 'QAnon Shaman' gets 3+ years (while Trump runs free); Gosar censured by House; Biden seeks probe of Big Oil profiteering; Sanders on Defense spending hypocrisy...
By Brad Friedman on 11/17/2021 6:18pm PT  

Yes, inflation is real. But the panic around it is, if you will, wildly inflated and horribly misreported by the American corporate media. As Paul Waldman notes at WaPo this afternoon, "Inflation is a genuine problem, but it's hardly spinning out of control. Inflation PANIC, on the other hand, is getting ridiculous." Our guest on today's BradCast made the same argument last week as the media touched off the panic. He joins us to explain and go even further than Waldman. [Audio link to full show is posted below this summary.]

But, first up, the so-called 'QAnon Shaman' Jacob Chansley, the guy with face paint and a horned hat who took control of the dais in the U.S. Senate during the Trump-incited attack on the U.S. Capitol on January 6, was sentenced to 41 months in prison on Wednesday. That's more than three and a half years, for a man with mental issues who was not particularly violent while serving as a henchman for Trump's attempt to steal the 2020 Presidential election that day. Meanwhile, the organizers and planners of the assault --- namely Donald Trump himself and a whole bunch of others --- have faced zero accountability, much less jail time for their crimes lighting the fire in the first place.

In more accountability news, Arizona's far-right Republican Rep. Paul Gosar was censured by the U.S. House in response to an animated video he posted to Twitter, appearing to show him murdering Rep. Alexandria Ocasio-Cortez (D-NY) and threatening the same for President Biden. House Republicans refused to reprimand him, so a rare censure vote was held today and Gosar was removed from his House committee assignments in the bargain. He's the second Republican to be removed from committee seats this year, after Rep. Marjorie Taylor Greene (R-GA) faced a similar punishment for support of violent threats against Democrats prior to being elected and a similar failure by her own caucus to take action in any way. Accountability is always good, but, as with Chansley's punishment, there are some nuances and concerns worth discussing on this point as well today.

And, before we get to our guest, President Biden on Wednesday asked the Federal Trade Commission to investigate potentially "illegal conduct" by Big Oil companies such as ExxonMobil and Chevron who may be inflating gas prices, even as their profits have risen and the cost of refined fuel has fallen. But the recent spike in prices at the pump has helped fuel economy-wide inflation. That, in turn --- thanks, at least in part, to some really bad reporting by the American corporate media --- has also undercut Biden's approval ratings, and is being used (disingenuously) to try and jeopardize passage of Biden's Build Back Better (BBB) social spending and climate change reconciliation bill.

Unlike the recently signed $1.2 trillion bipartisan infrastructure bill, the $1.75 trillion BBB is fully paid for with increases on taxes to corporations and the wealthy. And, unlike stimulus bills passed recently under both this President and the previous one, the BBB's spending is spread over the next decade, instead of as a quick jolt to the economic system. Thus, the consensus of economic experts is that it will not cause inflation and its expansion of the economy may, in fact, help ease inflation in several ways, particularly for the working class.

Still, West Virginia's obstructionist Democratic Senator Joe Manchin is using inflation fears again to try and put the brakes on the BBB package, and the corporate media are certainly helping him. For example, while largely ignoring undeniably positive news about the economy in recent months --- on everything from record job growth to very low unemployment to three months of rising retail sales --- last week, the media offered breathless reports on new inflation numbers from the U.S. Bureau of Labor and Statistics.

You may recall some of the panic when the media informed us that inflation had risen to a record 6.2% in October! If true, a one month 6.2% increase in prices would be a panic. But, in truth, inflation was just 0.9 percent last month. As our guest today points out, "products that cost $10.00 in September now cost a terrifying $10.09." But lost in the panicked coverage was that the 6.2% rise in retail prices was in comparison to what they were a full year ago, in the middle of the worst of the pandemic. They didn't rise "6.2% in October" as many have misleadingly reported.

But all of that also ignores something else that most Americans do not understand about inflation, according to our guest today: It can actually be good for the working class and very very bad for corporations, in particular, for big banks. That may be just one of the reasons why media are so quick to report on inflation numbers as terrible, terrible news for the country.

We're joined today by JON SCHWARZ of The Intercept to explain all of this, as he detailed recently in an article with what he admits is "a little bit of a troll-y headline", "Inflation is Good for You". In fact, as we discuss, he's not entirely "troll-y" on that point. For one, the booming economy has resulted in rising wages (for the first time in years) at almost the same rate as inflation over the past year. He notes at The Intercept: "As prices increased 6.2 percent over the past year, wages for regular people went up 5.8 percent. In other words, inflation barely touched their purchasing power."

The larger point, however, that he explains today is why inflation can be actually be good for workers but not for big corporations like banks: "Household debt in the United States is a gigantic number, difficult to comprehend. It's like $14.5 trillion --- that is mortgages, credit card debt, student debt, it's a whole bunch of things... And when there's inflation of this kind, 6.2%, that is around $850 billion-worth of that debt falling in value. That is a transfer of wealth from creditors, the people who loaned out the money, to borrowers."

Those creditors/lenders "are the richest people in America, and they are losing a lot of money. And they don't like that! People with tons of money do not like losing enormous amounts of it," Schwarz notes. "Inflation is the absolute worst for people who have loaned out a lot of money. It is something that is never discussed, because it is a sort of clear class issue. It makes you realize that, just as a great economy for regular people is not so great for people at the top, it makes you think about what inflation actually does, and who it affects the most."

While he recognizes that "inflation can be real trouble for some people," (and there is some nuance here) the overall effects are often more positive for the working class and not even particularly harmful to those on a fixed income, such as the elderly living on Social Security, which increases each year as its tied to inflation.

There is a lot to discuss on this matter that the corporate media fail to adequately cover (for reasons which we also discuss) while misleading the nation and delighting Republicans and, yes, Joe Manchin, who has fresh (if false) evidence to use in further cutting back on Biden's Build Back Better agenda or even stopping it dead in its tracks.

Finally, as long as we're myth busting today, Congress is preparing to approve the annual National Defense Authorization Act, with nearly as much spending --- for one single year --- as BBB would cost over ten years. Yet, you'll hear almost nothing about how the U.S. can't afford to spend so much money, or that it might lead to inflation, etc. Sen. Bernie Sanders (I-VT) has a thought or two on all of that, with which we close today's program...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

* * *
While we post The BradCast here every day, and you can hear it across all of our great affiliate stations and websites, to automagically get new episodes as soon as they're available sent right to your computer or personal device, subscribe for free at iTunes, Stitcher, TuneIn or our native RSS feed!
* * *

MONTHLY BRAD BLOG SUBSCRIPTION
ONE-TIME DONATION


Choose monthly amount...


(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)




Guest: David Dayen on Wednesday's 'incredible' anti-trust hearing in the House and new book 'Monopolized: Life in the Age of Corporate Power'; Also: Herman Cain dies of COVID; Trump tries to distract from newly disastrous economic numbers; Rep. Lewis laid to rest...
By Brad Friedman on 7/30/2020 7:01pm PT  

The day began with a middle of the night earthquake here in Los Angeles. It was the least turbulent part of the day. We open with some grim news on today's BradCast before moving on to some shockingly encouraging news out of....wait for it....Congress of all places! [Audio link to full show is posted at end of summary.]

First up today, former Republican Presidential candidate Herman Cain succumbed to the coronavirus. As co-chair of Black Voices for Trump, the 74-year old Cain attended Donald Trump's controversial mask-free rally in Tulsa on June 20. By July 2nd he was hospitalized with COVID-19 and now dead a month later. He wasn't the only high profile Republican to pass away from the coronavirus today. Bill Montgomery also died. He was the 80-year old co-founder of the rightwing "student group" (yes, a GOP student group founded by an 80-year old!) called Turning Point USA. The organization hosted Trump's second, similarly mask-free rally after Tulsa in Phoenix. Despite claims by both Cain and Montgomery's group that hydroxychloroquine was "100% effective" in treating coronavirus, turns out, as the FDA has emphasized, it isn't.

Civil rights icon Rep. John Lewis was finally laid to rest on Thursday in Atlanta, where he was eulogized by three former Presidents. Trump did not attend after also failing to pay his respects while Lewis lay in state at the U.S. Capitol earlier this week. President Obama, however, offered stirring remarks in memoriam, calling for the expansion of voting rights which Lewis spent a lifetime --- and no small amount of blood --- fighting for.

The former President's remarks came shortly after our current President feebly suggested on Twitter that the November election should be delayed "until people can properly, securely and safely vote," charging that "2020 will be the most INACCURATE & FRAUDULENT Election in history" due to the use of mail-in ballots needed to counteract the dangers of in-person voting during the pandemic that Trump utterly failed to control. That controversial call for delaying the election --- immediately and universally rejected by Republicans and Democrats alike --- was largely to a) further propagandize Trump's supporters into believing the November election results will be illegitimate and, more immediately, b) distract from the horrific economy news released by the federal government just minutes before Trump's tweet.

The news he was hoping to distract from: The U.S. economy plunged a staggering, unprecedented, annualized 32.9% in the second quarter of this year. By way of comparison, it took three years before the economy fell 30% during the Great Depression. This has happened in months, as another 1.4 million workers filed for new unemployment claims last week. It was the 19th week in a row of record-shattering 1 million plus applicants, leaving some 30 million Americans now jobless, as Republicans in Congress have failed to extend the expanded unemployment payments from he CARES Act. Those benefits have expired as of this week, and neither Congressional Republicans nor the White House appear to have an acceptable plan to replace them. House Democrats passed their own $3 trillion HEROES Act several months ago to continue those payments and much more critical relief to workers, states and cities, hospitals, homeowners, the U.S. Post Office and many others through the end of the year. Republicans appear to be in stultifying disarray.

But there is some good news today and, believe it or not, it comes out of Congress! The U.S. House Antitrust Subcommittee on Wednesday held a five-hour hearing on Big Tech monopolies, featuring the CEOs of Amazon (Jeff Bezos), Apple (Tim Cook), Google (Sundar Pichai) and Facebook (Mark Zuckerberg) as witnesses. All of them were grilled by Democrats and, yes, even Republicans alike for years of runaway, anti-competitive business practices. Progressive Matt Stoller's coverage of the hearing at The Guardian was headlined "Congress forced Silicon Valley to answer for its misdeeds. It was a glorious sight." Our guest today, DAVID DAYEN, author, investigative financial journalist and Executive Editor of the progressive American Prospect, filed a piece with the exhuberant hed: "The Triumphant Return of Congress," following up his 175-tweet live thread from his Wednesday coverage.

Dayen tells me today that it was "probably the most consequential hearing on corporate power in decades," where one CEO after another was called on the carpet to answer for years of crushing, anti-competitive practices in their sectors. He reports that the "members of that subcommittee," headed up by Democratic Chair David Cicilline of Rhode Island, "knew exactly what they wanted to talk about. They knew who they wanted to target. This is the culmination of a year-long investigation and these members had an incredible amount of knowledge about the harms that these four large corporations have been causing through the exertion of their power."

"They really extracted confessions from Bezos and Zuckerberg and others about the practices they engage in which really are illegal," he says. The hearing couldn't have been better timed for Dayen, coming just a week or so after the publication of his new book Monoplized: Life in the Age of Corporate Power documenting the breathtaking reach of unchecked corporate mergers and consolidation over the past four decades. He explains on today's show, as he does in the book, how century old anti-trust laws were turned on their head during the Reagan Administration, when a theory promoting the idea that monopolies are actually good for consumers was advanced by one Robert Bork. The theory would eventually prove untrue by its own standards. It was not good for consumers and, Dayen describes, failed to take into account the damage that anti-competitive practices actually wrought on small business, employees and the supply chain itself --- leading directly to some of the dangerous consequences and ridiculous shortages we've seen during the COVID crisis in everything from toilet paper to critical medical supplies and personal protective equipment.

"This hearing was a complete indictment of the Federal Trade Commission and the anti-trust division of the Justice Department, who had access to all this information that the subcommittee had. They had all of these documents. They had all of the ability to conduct an investigation. In fact, it's their job to do so," Dayen observes. "They did not do that, and waved through merger after merger after merger, and the people who had that authority, under Democratic administrations and Republican administrations, who were responsible for this failure should not be listened to again, and they should not hold power again."

Dayen is hopeful that Wednesday's hearing may actually spur action --- grant permission, if you will --- to the FTC and DOJ to start upholding those unenforced anti-trust and anti-monopoly laws and regulations that remain on the books. "The only way that gets done is that the momentum from this hearing is built, where a popular movement to understand and work against the power of monopolies is what is going to carry us forward. It has in the past. That's how we got these laws in the first place, because people demanded the political system respond, and it's how we're going to get them now."

I should note here that I make a personal cameo appearance in Dayen's new book (beginning on page 85, if you must know) discussing my own personal experience with the anti-competitive monopoly practices in the media industry, and how the unchecked "sale" of our public airwaves to a handful of mega-media corporations has led directly to all of the various disasters --- political, economic, societal and, yes, medical --- that are now rending apart our very republic.

Dayen, whose indispensable daily "Unsanitized" column at The American Prospect chronicles the continuing eroding state of our national battle with the global coronavirus pandemic and its ever-worsening toll on our economy, closes by bringing us up to date on the disastrous Republican effort to craft a new emergency relief bill in Congress, as expanded unemployment benefits expire and the U.S. Postal Service faces implosion just months away from the largest vote-by-mail election in the nation's history...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

* * *
While we post The BradCast here every day, and you can hear it across all of our great affiliate stations and websites, to automagically get new episodes as soon as they're available sent right to your computer or personal device, subscribe for free at iTunes, Stitcher, TuneIn or our native RSS feed!
* * *

MONTHLY BRAD BLOG SUBSCRIPTION
ONE-TIME DONATION


Choose monthly amount...


(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)



Support The BRAD BLOG
Please visit our advertisers










Support The BRAD BLOG
Please visit our advertisers
Brad Friedman's
The BRAD BLOG



Recent Entries

Archives


Important Docs
Categories

A Few Great Blogs
Political Cartoonists

Follow The BRAD BLOG on Twitter! Follow The BRAD BLOG on Facebook!
BRAD BLOG RSS 2.0 FEED
Please Help Support The BRAD BLOG...
ONE TIME ONLY
any amount you like...
$
MONTHLY SUPPORT
any amount you like...
$
Or by Snail Mail
Make check out to...
Brad Friedman
7095 Hollywood Blvd., #594
Los Angeles, CA 90028

The BRAD BLOG receives no foundational or corporate support. Your contributions make it possible to continue our work.
About Brad Friedman...
Brad is an independent investigative
journalist, blogger, broadcaster,
VelvetRevolution.us co-founder,
expert on issues of election integrity,
and a Commonweal Institute Fellow.

Brad has contributed chapters to these books...


...And is featured in these documentary films...

Additional Stuff...
Brad Friedman/The BRAD BLOG Named...
Buzz Flash's 'Wings of Justice' Honoree
Project Censored 2010 Award Recipient
The 2008 Weblog Awards



Wikio - Top of the Blogs - Politics

Other Brad Related Places...

Admin
Brad's Test Area
(Ignore below! It's a test!)

All Content & Design Copyright © Brad Friedman unless otherwise specified. All rights reserved.
Advertiser Privacy Policy | The BradCast logo courtesy of Rock Island Media.
Web Hosting, Email Hosting, & Spam Filtering for The BRAD BLOG courtesy of Junk Email Filter.
BradBlog.com