UA-43475823-1

The Wrongologist

Geopolitics, Power and Political Economy

Monday Wake Up Call – May 18, 2020

The Daily Escape:

Colorado River, from South Kaibab trail, Grand Canyon NP, AZ  – photo by DJ Memering. The bridge is called the Black Suspension Bridge. It is 5,260 ft below the canyon rim.

The CARES Act was sold as emergency funding for individuals and small businesses. In all, Congress has authorized $3.3 trillion in coronavirus relief in four separate acts over the last two months. The stated intent of those bills was to protect the American economy from long-term harm caused by the overall impact of the virus.

Alas, Congress also took care of their true constituents, Big Oil and other fossil fuel companies. Those companies got CARES Act tax breaks. The subsidies were supposed to help bail out small businesses pounded by the pandemic, but at least $1.9 billion of it was sent to fossil fuel companies and their executives.

Bloomberg News reports:

“$1.9 billion in CARES Act tax benefits are being claimed by at least 37 oil companies, service firms, and contractors”

Bloomberg used the example of Diamond Offshore Drilling Inc. who manipulated the bailout: (emphasis by Wrongo)

“As it headed toward bankruptcy, Diamond Offshore Drilling Inc. took advantage of a little-noticed provision in the stimulus bill Congress passed in March to get a $9.7 million tax refund. Then, it asked a bankruptcy judge to authorize the same amount as bonuses to nine executives.”

But, Diamond’s refund wasn’t all. Some went to their larger competitors. More from Bloomberg:

“…$55 million for Denver-based Antero Midstream Corp., $41.2 million for supplier Oil States International Inc. and $96 million for Oklahoma-based producer Devon Energy Corp.”

In addition, Kevin Crowley reports that Marathon Oil got $411m, Occidental $195m, and Valero $110m.

Hats off to all of our Senators, Congresscritters and the Trump administration! They all continue pursuing a pro-fossil fuel agenda, even as the economic disaster of the pandemic unfolds. Bernie Sanders tweeted:

“Good thing President Trump is looking out for the real victims of the coronavirus: fossil fuel executives,”

But, Bernie apparently voted for the bill, which passed the Senate in a unanimous vote. Hypocrisy much, Bernie?

These loopholes in the Act were deliberately written in so that corporations could feed at the trough along with small businesses, and we the people. Moreover, the initial bill was written in the House, although presumably in consultation with Trump and the Republicans. So, you can view this as either the cost of doing business for Democrats, or as just another day at the office listening to the lobbyists. Subsidy legislation has been a bipartisan objective.

Its always been this way. Here’s a cartoon from 1920 that could be drawn today:

Let’s remember that a big issue was the requirement for oversight, particularly after Trump said he wasn’t interested in having any. A compromise was struck so that an oversight commission could be empaneled to keep track of how the money was spent.

Today, it remains without a leader. Four of the five members of the Congressional Oversight Commission have been appointed, but Speaker Nancy Pelosi, (D-CA) and Senate Majority Leader Mitch McConnell, (R-KY) have not agreed on a chair.

While the current members of the panel can perform some oversight, without a leader, it can’t hire staff or set up office space. In addition, the four members have not met as a group since the economic rescue law was passed. The PBS NewsHour quotes John Coates, a professor of law and economics at Harvard Law School:

“If the commission is not functioning — which it is not — then there is no oversight on a huge part of the economic rescue law…”

We seem to be able to bail out the rich every few decades, and we always seem to do it on the backs of the poor. It will probably happen again in another 10 years or so. Between these bailouts, politicians and pundits appear on all of the news shows, and write very serious articles proclaiming the need to resist socialism and to preserve “the free market” for the sake of “wealth creation and innovation”.

Time to wake up America! This great con has been going on for all of Wrongo’s lifetime and by looking at the cartoon above, for a few lifetimes before. Yet voters seem to be oblivious to this insidious form of corruption each and every time they go to the polls.

To help America wake up, let’s listen to Drive by Truckers, and their tune “Armageddon’s Back in Town” from their 2020 album, “The Unraveling

Sample Lyric:

There’ll be no healing
From the art of double-dealing
Armageddon’s back in town again

Those who read the Wrongologist in email can view the video here.

Facebooklinkedinrss

Saturday Soother – Bill Barr Edition

The Daily Escape:

Peyto Lake, Jasper NP, Alberta CN – 2019 photo by TheMilkMan26

America needs a Trumpectomy, and that won’t happen until January 2021. The problem is that Trumpism is like a metastasized cancer, and maybe even excising Trump won’t be enough to cure the country.

When the story broke that AG William Barr had intervened in the sentencing recommendation for Roger Stone, most of the country was in an uproar. Career DOJ prosecutors left the case, and most of us were angry and in disbelief that Trump was directing the DOJ’s case along with his accomplice, AG Barr.

The Justice Department was also in disbelief. NBC News’ Ken Delanian reported that Department of Justice employees almost walked out en masse on Wednesday over Barr’s actions. Barr responded to the criticism from inside and outside the DOJ by telling ABC News that Trump’s constant tweets “make it impossible for me to do my job.” The first blush reaction to Barr’s statement was that Barr was complaining about Trump getting in his grill.

A much more realistic (and troubling) take is that Barr is defending his action as “perfect”, and the only reason that he’s taking flack is a completely unrelated tweet from Trump.

Barr’s criticism of Trump is about as real as professional wrestling. He’s a fan of executive power, and too aware of Trump’s personality to have done this without coordinating with the White House.

And if that wasn’t enough, the NYT reported on Friday that Barr assigned yet another outside prosecutor to scrutinize the DOJ’s criminal case against Michael Flynn, Trump’s former national security adviser. This is yet another case of political interference by the DOJ into the work of its own career prosecutors.

Flynn pleaded guilty, but at the start of the sentencing phase, he hired a new attorney, Sidney Powell, a darling of the right wing media, who is also a FOX contributor. She is contesting his guilty plea.

Barr said just the other day that he would not be bullied or swayed for political reasons, and would only act in the name of maintaining the highest judicial standards. Now, the question for Barr is: How did he pick the Stone and Flynn cases for the DOJ to pursue?

Flynn’s judge, Emmet Sullivan, wrote a 92-page opinion in December laying out why the things that Barr just hired another counsel to second-guess won’t affect Flynn’s guilt. Why is the entire Right wing is going to the mats to defend Flynn, a guy who was secretly on Turkey’s payroll while acting as Trump’s NatSec advisor?

Their hero is a guy who was selling out the US for $600K.

It’s important to remember that Flynn, Manafort, and Stone broke the law repeatedly. Barr is working to undermine our judicial process on their behalf. Now, you can prosecute the bad guys, but don’t mess with the president’s friends. Do that and you’ll be out of work, or worse.

This of course, changes how prosecutors will do their jobs.

Successfully performing the Trumpectomy will be an all hands on deck effort. We can’t give up hope. Wrongo returned from his military service in 1969, and protested the Vietnam War until it ended in 1975.

We need to resist Trumpism until it ends. Let’s close with two excerpts from Thomas Merton’s “Letter to a young activist”, written during the Vietnam War in 1966:

“This country is SICK, man. It is one of the sickest things that has happened. People are fed on myths, they are stuffed up to the eyes with illusions. They CAN’T think straight. They have a modicum of good will, and some of them have a whole lot of it, but with the mental bombardment everybody lives under, it is just not possible to see straight, no matter where you are looking.”

Sound familiar? Merton goes on to say:

“Vietnam is the psychoanalysis of the US. I wonder if the nation can come out of it and survive. I have a hunch we might be able to. But your stresses and strains, mine, Dan Berrigan’s, all of them, are all part of this same syndrome, and it is extremely irritating and disturbing to find oneself, like it or not, involved in the national madness.”

We’ve been here before, and with huge voter turnout, we can beat Trumpism.

We really need today’s Saturday Soother. To help you begin, let’s brew up a mug of Kona Bourbon Pointu Laurina, ($62.50/8oz.). Wrongo know that’s expensive, but use some of your Trump winnings to buy it from Hula Daddy, an artisanal coffee grower in Kona, Hawaii.

Now put on your headphones and listen to “21st Century USA” by the Drive By Truckers from their new album “Unraveled”. This isn’t designed to soothe you, but to fire you up:

Those who read the Wrongologist in email can view the video here.

Facebooklinkedinrss