He called "the maximization of shareholder value" a fetish. I have to say, I was doing an MBA in the immediate aftermath of the great recession and it was fetish-ized.
Nicely contrasts, as made explicit by Bannon himself, with the smears propagated by prog media.
Witless, stumbling questions show lefty weakness.
On substance, he engages in wishful thinking: for every black worker gained, two sensitive white women will switch sides, cuz Trump is mean and threatens "women's bodies," and technical change will undermine highly-paid industrial jobs regardless of what happens in China.
I only had time to watch a few snippets of that video, but I will make time to watch the whole thing. I hadn't previously listened to him at any length. Impressively articulate! I now understand better why the Left feels the need to demonize and destroy the guy.
Haha I was thinking the same thing about the resemblance to Sam Kinison.
I can totally hear Bannon say send trucks to people starving in the desert.
On a substance note, I think he gets right was us Libertarians naively get wrong - that globalization. Was captured by the elites and has been used as a weapon against liberty.
Poor Obama. Why can't people understand and appreciate what the most gifted economic President did for us? Stop failing to respect his accomplishment just because his magic beans took 9 years to grow.
A leftish friend sent me the link with a comment, "The guy makes some strong points. I bet you could lift many passages from the transcript and get people assuming it came from Bernie Sanders"
Three cheers for Bannon.Not easy to respond pleasantly to petty attacks, under the pretense of questioning, all while in a room filled with people that hate you. The right needs more articulate foot soldiers out there in the trenches.
No. By American standards, the infrastructures of the "classic" Medieval universities of Europe are just appalling. Many a visiting scholar to American universities comments on how comfortable & modern they are.
What's really sad is that there are multiple conservative theories of the State that have played a vital part in shaping Western history, and, that Bannon's listeners, at one of the most respected universities on the planet, seem to be acquainted with none of them.
I watched the video the other day as well, and found the students remarkably hostile. Bannon is great at presenting Trump's mission.
It's hard to understand why leftists find Bannon or Trump so much of a threat that people were howling in outrage, other than people need to externalize their worst insecurities and fears onto an "other." They really are quite terrified of different ideas, "... in a world where facts don't matter," as Scott Adams says. I'm still reading Adams's "Win Bigly" so perhaps I'll figure that out eventually. How people convince themselves that Bannon is a Nazi is beyond me.
One thing Bannon seemed to know from the start was that Manafort and Kushner and so on were likely to wind up doing some serious prison time for conspiring with the Russian intelligence services. A zealous promoter of the interests of his tribe he certainly is, but a traitor to his country he's not.
YH - the fact that Bannon's listeners were actually in the room, listening and engaging, rather than outside the room, screaming, does not speak to a massive failure. Those young people chose to come inside and participate, and that's all to the good.
I think their problem revolves around their belief that they have been ordained as the next class of elites. Bannon's talk of revolution worries them.
An interesting question for people to ponder. Do you think that the protesters are trying to shout down Bannon because they have the better arguments, the stronger logic?
I listened to the entire speech/question time and found it enlightening. He is a good speaker [except for the overuse of 'Okay?']. What the government gives, it can take away, as seen today in the GM situation. Only Sarah Palin stoutly criticized 'crony capitalism' and there are those on the far left as well as the far right who would agree that the swamp can never be drained unless these nefarious relationships are ended.
the fact that Bannon's listeners were actually in the room, listening and engaging, rather than outside the room, screaming, does not speak to a massive failure. Those young people chose to come inside and participate, and that's all to the good.
No. It's still a massive failure. That the baseline for a university student at one of the world's most respected school is simple intellectual courtesy is pathetic.
These people are the intellectual elite of Britain. When Bannon speaks, they should recognize his intellectual roots & sources & question him accordingly. But, for them, the reaction is closer to Gomer Pyle's "Welllll, Goooooh-leeeee!".
"I think their problem revolves around their belief that they have been ordained as the next class of elites."
Bingo. I suspect every graduate with a BA degree in the Anglo-American world wants to believe this, and knows that virtue signaling revulsion at Trump and his Deplorables is absolutely necessary to every academic/government/biglaw/corporate position they aspire to.
He called "the maximization of shareholder value" a fetish.
Now I'm going to have to watch it. Unless a corporation is formed for some special reason and the owners (stockholders) state the reason in the charter or bylaws, what other possible reason could there be for any corporation to exist?
Isn't maximizing shareholder value the sole function of an y public or private corporation?
Normally Ann watches these things so I don't have to. Now she tells me I have to. And TreeJoe makes me curious.
So downloading it as we speak and will watch tonight.
Darkisland said... Blogger TreeJoe said... He called "the maximization of shareholder value" a fetish.
Now I'm going to have to watch it. Unless a corporation is formed for some special reason and the owners (stockholders) state the reason in the charter or bylaws, what other possible reason could there be for any corporation to exist? Isn't maximizing shareholder value the sole function of any public or private corporation?
Bannon contrasted shareholder value as a b-school fetish with "citizenship value" as the loadstar of government policy. In other words, government policy should maximize the value of being a citizen of the nation.
Whereas the left would say that's accomplished by generous welfare state benefits managed by a very large administrative state, Bannon would argue that model is not sustainable and must rest upon a vibrant value-added economic engine fueling private wealth formation at the wage-earner level.
"On a substance note, I think he gets right was us Libertarians naively get wrong - that globalization. Was captured by the elites and has been used as a weapon against liberty."
Or the idea I encountered the other day, that taxes are payments you make to support the infrastructure of a market. Tariffs also go to support that infrastructure. So why is the ideal tariff rate zero, when the ideal tax rate is not zero? Why should we allow foreign corporations to have free access to the market we pay to maintain?
what other possible reason could there be for any corporation to exist?
I think way back when, before the modern philosophy took over business schools (Friedman?), the mission hadn't quite been boiled down to just naked shareholder interest. Especially just the short-term pump and dump "profit" you get by selling off assets.
The most revealing moment is when Bannon says the new Deplorable coalition requires large percentages of working-class brown and black votes for the electoral math to work.
Wow, that was much, much better than I expected. Not that I had expectations, I guess, since I've never heard Bannon actually talk before today so I had no idea what he's like.
He's a compelling, captivating speaker. I was pretty much hooked from the opening line onwards.
"Maximizing shareholder value" is a laudable goal in a competitive free market economy. In the Keynesian Globalized economy in which corporate players with the right political connections and sufficient size to credibly claim "Too Big To Fail" status, maximizing shareholder value has evolved into a privatized profit/socialized risk proposition.
Watched the 1st half -- saving the rest for later.
Really enjoyed it.
Bannon is fighting for "economic nationalism." This is a countervailing force to "globalism" - -ie, open borders, free trade, the importing of tons of cheap crap from China, and so what if blue collar Americans lose their jobs and get addicted to meth and opioids?
Also, this is not "White Nationalism." Working class, blue collar blacks and hispanics also get hosed by globalism and the open border Left (and globalist Chamber of Commerce Republicans who like cheap labor).
Even if one does not buy Bannon's thesis, nobody can deny that the man -- based on his thesis - deserves a seat at the table of ideas.
Great use of an hour+. Xlnt and clear talking points from Bannon. He's got some dreamer in him which makes him kind of charming. Kudos to Oxford students for their politesse.
Bingo. I suspect every graduate with a BA degree in the Anglo-American world wants to believe this, and knows that virtue signaling revulsion at Trump and his Deplorables is absolutely necessary to every academic/government/biglaw/corporate position they aspire to.
Christopher Caldwall said much the same thing back last decade:
Perhaps it is that at universities—through which pass all small-town people aiming to climb to a higher social class—Democratic party affiliation is the sine qua non of being taken for a serious, non-hayseed human being.
For these people, liberalism is not a belief at all. No, it's something more important: a badge of certain social aspirations. That is why the laments of the small-town leftists get voiced with such intemperance and desperation. As if those who voice them are fighting off the nagging thought: If the Republicans aren't particularly evil, then maybe I'm not particularly special. The Weekly Standard, Smiley's People, 29 Nov 2004
Bannon nailed it.Populism is not a race, or ethnic, or gender, or inherited status, It is a citizenship open to all who will fight for it. And that is pure Jacksonian populism.
The Federal Reserve Bank had better say its prayers.
NNBD identifies Bannon as a 'White Nationalist'. There is a link on the website to correct errors but it wasn't working. As I've asked before: If I am white and a nationalist, does that make me a White Nationalist?
I thought Bannon did very well. Except for one moment, he treated the room with respect and clearly enjoyed the challenge. That one moment was when an annoying SJW woman asked something or other and Bannon sort of interrupted what he was saying to add, "I'm sorry I'm mansplaining," and it came across as lame righty needling. But I wish I could do as well for so long.
Something else impressed me: How he realized he was speaking to students and not intellectual or political equals. That is, he seemed mindful of his role as an adult. Twice, he turned the temperature down. In both cases a student said something borderline rude or inciting. One time Bannon said to the offended members of the crowd, "No, it's a good question." The other time the crowd started to boo and Bannon raised his hand the way you do to say stop, and said "no."
One last thing: There are articulate, intelligent lefties, but if most of those kids are the cream of the crop, Britain deserves to die.
Michael Moore is a fat leftwing propagandist devoid of ideas.
Bannon has ideas. You may disagree, but they are merely ideas.
The left do not have ideas - other than the old progressive-socialist-marxist nanny-fascist state, punitive taxation, and an all powerful administrative state.
What a bunch of bullcrap, but at least it demonstrates why right-wing politics is so convoluted, incoherent and cracked. He basically has become leftwing on almost everything, other than this whole "deconstructing the administrative state" catchphrase. Well, if he wants to return the government back to the people, then why does he have to fear it and pick at it and "deconstruct" it so fucking much? Let the people do what they want with it. Does he also advocate/believe in "deconstructing the guns" that he wants the people to have so many of? Either go all the way progressive or just stay an elitist, which is what conservatives are and can't help being. Even the Republican dirt people.
There's a reason democracy and conservatism don't go together; never have and never will. Bannon's fooling himself if he thinks right-wing populism is going to do anything differently than it did in 1930s Europe. It's a misnomer. A sham. A chimera. If you're not going left-wing then you're not going populist. David Frum called his ass out in a heartbeat on this very point and asked him why his party's restricting the voter rolls. He's as populist as a panda driving a Pinto. But sure, keep going everywhere in that flack jacket or whatever. Dress down, Steve. We're so fooled.
The biggest question peepee - is where is he on making sure we are ass-screwd by hypocrite corruptocrats for a carbon credit scheme and a punitive tax. Also - can we all be more like New Jeresy in Taxation and fabulous senators.
He whiffed on the answer to the girl talking about the dissolution of democratic institutions.
The answer is simple: The swamp did it to themselves. Deplorables keep sending Paul Ryans to Congress expecting them to live up to their promises and what have they gotten in return for the past 25-30 years? Nothing. That's where you get Trump.
You really got your head way up your ass, Bimbos Apple. Trump is making the train crash he's conducting more and more obvious by the day. By the hour. Apparently taxing GM to use raw materials here and make the smaller and more efficient cars that are selling around the world wasn't his cup of tea. So he yells at them for cutting 14,000 jobs in the midst of his tax cut. Yep - governing by yelling and CAPS LOCK seems to be finally hitting the wall of reality it was always up against. But sure, bitch and moan about taxes and corruption and New Jersey and "permission" to own things that he can't force Twitter to have made. I'm sure it beats reality, right? Maybe he can find another tax cut for hedge fund traders to pass. That'll show 'em. Run up that debt! There's not enough hedge fund traders and bloated military budget in the world to take all his tax cut giveaway goodies, but I'm sure you'll try to find some more!
Just listen to the guy's words and form a rational conclusion - if your Republican lizard brain can stand to do so. He wants to "deconstruct the administrative state." If anarchy is what he wants then you don't have to give any of it back to the people - it's already available to them if that's what they want. But they want government - just not one of by and for the hedge fund traders and CEOs and whomever else is taking away their healthcare and competing for their decent standard of living.
One of these days you'll realize the limits of your bootlicking. The people should push you on your ass as you're bent over licking them. But they're too kind to and you'll continue to not learn your lesson for the next 40 years that you're out of power. Shit, Republicans still can't figure out how they gave us 1929.
It's a neat hat trick, the left based on a bogus Boston fed mandated lending to those unqualified to borrow, this involved Cisneros (who was the Harvard trained wunderkind) and Cuomo, Bush bought into said notions and when Greenspan pulled the pin
@PPPT: He wants to "deconstruct the administrative state." If anarchy is what he wants
Is there no middle groups between anarchy and administrative state to explore? Is it a rhetorical trick on your part to exclude that enormous middle, or do you really see only the two alternatives?
Would restoring the role of legislatures in government and reducing the role of unelected administrative and regulatory officials really be "anarchy"?
Is there no middle groups between anarchy and administrative state to explore?
Nope.
You can't "deconstruct" what FDR built. He built the modern fucking presidency. Even Nixon added on to it when he figured that allowing major American rivers to catch fire was a bad thing. What a genius, eh?
Republicans have been going to war against FDR since FDR was in power, and even moreso for the last 40 years that they've been holding power. Name one of their policies that's worked. You can't do it. It's all ideology and resentment (against FDR) and not a single "exploration" of their stupid ideological rectal examination that's gone anywhere or done anything decent. 40 years is enough. It's not worked. It didn't work prior to 1929 and it won't work in 2018. The people have spoken, and they're finally hip to this shame. They don't want Trump or his party's bullshit ideological nonsense, just a pro-worker and generally progressive agenda. Just like the one that worked for America from FDR to Nixon. Time for you to wake up.
Time to end the exploration, Gabe. 40 years of digging a hole isn't getting us out of this hole. 40 years is long enough. Time to return to people who want to get things done once again for a change, instead of those asking to be elected to do less and less of nothing. If they want to do nothing but cut their own taxes then let them do it without the paycheck and private sector connections it gets them in our industrial-political machine. Enough.
The 1920 recession was almost an oversight, the tariff calibrations from fordney macomber did not fundamentally change economic circumstances even after the dawes bill.
Hillary was queen of the administrative state. One that first, operates for her benefit.
Your robot draw-string needs recalibrating. Show us the tax benefit Hillary would have gotten from anything she proposed. Now show us the tax benefit Trump got. Oh wait, you say - you can't do that because Trump made his tax returns secret? How inconvenient for anyone objective. And how convenient for him.
The right-wing has gone way beyond doubling down on stupidity. They've tripled and quadrupled down on it. Go tell those Trump supporters in Ohio whose 14,000 jobs just got slashed you said hi.
Immoral imbecilic fuck-up assholes. Just leave politics already.
GM was bailed out with tax payer money by Bush, McCain and the Democrats. The fact that GM didn't take the opportunity to build cars people want to buy is pathetic and not anyone's fault but GM and the management.
Workers? Oh right. The biggest concern for someone making less than $60k annually is taxes. You live in a fucking fantasy. Those cuts expire the hedge-fund traders' don't. And you still believe his worker rhetoric? You live in a fantasy.
GM's management doesn't stop it from being hurt worse by Trump's tariffs. (And his anti-CAFE standards). But I get it, it was GM hurt by those 14,000 jobs - not the workers. Right. It must be hard for an up-the-butt corporatist shill like you to figure out when to get populist with the corporate stuff and when to hit their workers in the ass. Ouch. You go April! Take on GM by cutting those jobs! You really showed them!
BTW - Obama promised to buy a Chevy Volt.
BTW, you're still avoiding the topic and not figuring out how to defend your party's horrible policies. Must be hard, being a phony pro-worker Republican. Republicanism and workers go together like oil and water. You've hated workers ever since FDR figured out how to stop shitting on them, and probably way before that.
GM, Ford chrysler, amc, studebaker, willys, Hudson et al haven't built cars Americans wanted to buy for 60-70 years.
They keep asking for one more chance "we'll get it right this time. Honest we will. Please just give us a 39th chance." and like Charlie brown and the football, govts, repo and demmie do it.
We need to let companies fail. The worst thing that ever happened to the American auto industry was Carter's bailout of chrysler. Yes, govt got its money back with interest and chrysler has been passed around like a Rotherham schoolgirl. It is pitiful to watch.
Let them fail. Something useful may rise from the ashes.
And for God's sake let Tesla fail too. Electric cars are about as useless as tits on a bull. The uselessness is demonstrated by the fact that nobody will buy one unless heavily subsidized.
I've not owned a legacy brand American car since the 70s. They fucked me then because I had limited choices. Now I have choices and they aren't even on the list.
"Cutting GM's taxes was a benefit to those 15,000 employees! Their (temporary) tax cuts will also be financed by Chinese ownership of our debt so all is good! Whoopee!!!!"
But now Apple's so deluded that she says these job losses were better than Obama's having kept their jobs. You go, April! Keep up those job losses! Make America Not-So-Great Ever Again!
TRUMP: "If I'm elected, you won't lose one plant. You'll have plants coming into this country. You're going to have jobs again. You won't lose ONE plant. I promise you. I promise you."
Way to go! The FRAUD pulled off his greatest FRAUD yet!
Well Chrysler's now wholly owned by fiat, that's what we wanted to happen right, that was after the bankruptcy I own a Chrysler made before the bailout btw.
As for Mary barra its curious her companies pac donated to Sherrod 'restraining order' brown, coincidence I don't think so.
So, apart from putting American auto employees out of work, denying science, and running up debt to pay for PERMANENT hedge fund trader tax cuts, what is Trump good for?
Healthy car manufactures, who build vehicles in the US, didn't need a bailout, and they make cars people want to buy.
Honda Toyota Ford Subaru
GM - they still make good trucks, right? GM admitted today that the cars they make - nobody wants to buy them. Or course to the left that = blame Trump.
Taxes and tariffs - nothing to do with it. Said GM.
GM got a tax payer funded bailout. Right pee pee? Or do you want to re-write history on that one.
Not on the watch of the guy who lost all its employees' jobs. And the bailout was paid off... WITH INTEREST. You seem to be against our budget items yielding a return on investment. Why?
Most of the tax cuts were re-invested in raises all over the place.
I'm sure the unemployed are very happy to know that. Wow.
You Republican'ts can't ever shed your true colors, can you? Once again praising the rich, like that matters.
It's not the union bosses' job to figure out what models to make you dumb dildo. Hello. Union membership is now lower than after since your party's decades of war on it so congratulate yourself. How's that working out?
BLAME HILLARY! (Even though she's not in office anywhere. Pretty desperate of you to do, Apple).
Nancy Reyes: most of your commenters haven't listened to the video, but merely are echoing memes.
He sounds a lot like Bernie Sanders against wall street/international bankers.
They may not have watched the video, but that doesn't follow from the fact that a populist conservative sounds like Bernie Sanders on the subject of Wall Street. That shouldn't surprise anyone who understands that "conservatism" comprises more ideological strands than just Conservatism(tm).
YoungH: These people are the intellectual elite of Britain. When Bannon speaks, they should recognize his intellectual roots & sources & question him accordingly.
It was disturbing that these "intellectual elites" appeared to have a grasp of events about on par with the Joe Schmoe who takes MSM output at face value. The interviewer and most of the questioners could at least operate coherently within that tightly restricted field of understanding (a very low bar for an "intellectual elite", I know), but that one young woman near the end babbling on about Bannon's role in the dissolution of Western democracies...purest duckspeak.
And the winner is...President Pee Pee Tape for hijacking, trashing and trolling an an imminently interesting thread for no good reason. Special mention to everyone that engaged him.
Surfed announces: And the winner is...President Pee Pee Tape for hijacking, trashing and trolling an an imminently interesting thread for no good reason. Special mention to everyone that engaged him.
Bingo! Troll engagement obviously encourages trollery. Although some mentally ill types don't even need encouragement. It disgusts me when a good thread is thusly ruined.
Angle-Dyne opines: It was disturbing that these "intellectual elites" appeared to have a grasp of events about on par with the Joe Schmoe who takes MSM output at face value. The interviewer and most of the questioners could at least operate coherently within that tightly restricted field of understanding (a very low bar for an "intellectual elite", I know), but that one young woman near the end babbling on about Bannon's role in the dissolution of Western democracies...purest duckspeak.
Face it. Most people, be they students or 'journalists', ask questions of the speaker not to hear the answers but to enhance their own importance.
Extremely interesting and eloquent. His thoughts completely align with my trump support. And why I despise the gope and the chamber of commerce so much.
The students are woefully indoctrinated by their media masters.
As a regular visitor to Althouse, I appreciate the intellectual rigor which most commenters bring to the table. I have found my enjoyment has increased greatly since I made the decision to ignore PeePee's posts.
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112 comments:
Proving that, unlike The New Yorker, Oxford University doesn't carry its balls around in a silk purse.
Damn he's eloquent.
He called "the maximization of shareholder value" a fetish. I have to say, I was doing an MBA in the immediate aftermath of the great recession and it was fetish-ized.
Good defense of economic and civic nationalism.
Nicely contrasts, as made explicit by Bannon himself, with the smears propagated by prog media.
Witless, stumbling questions show lefty weakness.
On substance, he engages in wishful thinking: for every black worker gained, two sensitive white women will switch sides, cuz Trump is mean and threatens "women's bodies," and technical change will undermine highly-paid industrial jobs regardless of what happens in China.
It's probably the strongest case for populism I've heard.
I only had time to watch a few snippets of that video, but I will make time to watch the whole thing. I hadn't previously listened to him at any length. Impressively articulate! I now understand better why the Left feels the need to demonize and destroy the guy.
Don't they have heaters in Oxford?
He has a passing resemblance and speech cadence (minus the screaming, of course) to Sam Kinison.
Haha I was thinking the same thing about the resemblance to Sam Kinison.
I can totally hear Bannon say send trucks to people starving in the desert.
On a substance note, I think he gets right was us Libertarians naively get wrong - that globalization. Was captured by the elites and has been used as a weapon against liberty.
Poor Obama. Why can't people understand and appreciate what the most gifted economic President did for us? Stop failing to respect his accomplishment just because his magic beans took 9 years to grow.
He dresses like Sam Kinison. He sounds like Dennis Miller.
A leftish friend sent me the link with a comment, "The guy makes some strong points. I bet you could lift many passages from the transcript and get people assuming it came from Bernie Sanders"
Three cheers for Bannon.Not easy to respond pleasantly to petty attacks, under the pretense of questioning, all while in a room filled with people that hate you. The right needs more articulate foot soldiers out there in the trenches.
@Rabel,
Don't they have heaters in Oxford?
No. By American standards, the infrastructures of the "classic" Medieval universities of Europe are just appalling. Many a visiting scholar to American universities comments on how comfortable & modern they are.
Liked him. He's not easy to watch in HD, however.
When Chesterton took a sabatical in the US, one of his complaints was how warm we kept our buildings. His main complaint was prohibition.
What's really sad is that there are multiple conservative theories of the State that have played a vital part in shaping Western history, and, that Bannon's listeners, at one of the most respected universities on the planet, seem to be acquainted with none of them.
A massive failure of education. Massive.
I watched the video the other day as well, and found the students remarkably hostile. Bannon is great at presenting Trump's mission.
It's hard to understand why leftists find Bannon or Trump so much of a threat that people were howling in outrage, other than people need to externalize their worst insecurities and fears onto an "other." They really are quite terrified of different ideas, "... in a world where facts don't matter," as Scott Adams says. I'm still reading Adams's "Win Bigly" so perhaps I'll figure that out eventually. How people convince themselves that Bannon is a Nazi is beyond me.
One thing Bannon seemed to know from the start was that Manafort and Kushner and so on were likely to wind up doing some serious prison time for conspiring with the Russian intelligence services. A zealous promoter of the interests of his tribe he certainly is, but a traitor to his country he's not.
YH - the fact that Bannon's listeners were actually in the room, listening and engaging, rather than outside the room, screaming, does not speak to a massive failure. Those young people chose to come inside and participate, and that's all to the good.
I think their problem revolves around their belief that they have been ordained as the next class of elites. Bannon's talk of revolution worries them.
An interesting question for people to ponder. Do you think that the protesters are trying to shout down Bannon because they have the better arguments, the stronger logic?
I listened to the entire speech/question time and found it enlightening. He is a good speaker [except for the overuse of 'Okay?']. What the government gives, it can take away, as seen today in the GM situation. Only Sarah Palin stoutly criticized 'crony capitalism' and there are those on the far left as well as the far right who would agree that the swamp can never be drained unless these nefarious relationships are ended.
@John,
the fact that Bannon's listeners were actually in the room, listening and engaging, rather than outside the room, screaming, does not speak to a massive failure. Those young people chose to come inside and participate, and that's all to the good.
No. It's still a massive failure. That the baseline for a university student at one of the world's most respected school is simple intellectual courtesy is pathetic.
These people are the intellectual elite of Britain. When Bannon speaks, they should recognize his intellectual roots & sources & question him accordingly. But, for them, the reaction is closer to Gomer Pyle's "Welllll, Goooooh-leeeee!".
"I think their problem revolves around their belief that they have been ordained as the next class of elites."
Bingo. I suspect every graduate with a BA degree in the Anglo-American world wants to believe this, and knows that virtue signaling revulsion at Trump and his Deplorables is absolutely necessary to every academic/government/biglaw/corporate position they aspire to.
Blogger TreeJoe said...
He called "the maximization of shareholder value" a fetish.
Now I'm going to have to watch it. Unless a corporation is formed for some special reason and the owners (stockholders) state the reason in the charter or bylaws, what other possible reason could there be for any corporation to exist?
Isn't maximizing shareholder value the sole function of an y public or private corporation?
Normally Ann watches these things so I don't have to. Now she tells me I have to. And TreeJoe makes me curious.
So downloading it as we speak and will watch tonight.
John Henry
Wow. Good performance by Bannon.
Darkisland said...
Blogger TreeJoe said... He called "the maximization of shareholder value" a fetish.
Now I'm going to have to watch it. Unless a corporation is formed for some special reason and the owners (stockholders) state the reason in the charter or bylaws, what other possible reason could there be for any corporation to exist? Isn't maximizing shareholder value the sole function of any public or private corporation?
Bannon contrasted shareholder value as a b-school fetish with "citizenship value" as the loadstar of government policy. In other words, government policy should maximize the value of being a citizen of the nation.
Whereas the left would say that's accomplished by generous welfare state benefits managed by a very large administrative state, Bannon would argue that model is not sustainable and must rest upon a vibrant value-added economic engine fueling private wealth formation at the wage-earner level.
well he's smarter than most, no accounting for speaking with wolff, and doubling down with woodward,
https://www.newssniffer.co.uk/articles/1706143/diff/0/1
Tom said...
"On a substance note, I think he gets right was us Libertarians naively get wrong - that globalization. Was captured by the elites and has been used as a weapon against liberty."
Or the idea I encountered the other day, that taxes are payments you make to support the infrastructure of a market. Tariffs also go to support that infrastructure. So why is the ideal tariff rate zero, when the ideal tax rate is not zero? Why should we allow foreign corporations to have free access to the market we pay to maintain?
what other possible reason could there be for any corporation to exist?
I think way back when, before the modern philosophy took over business schools (Friedman?), the mission hadn't quite been boiled down to just naked shareholder interest. Especially just the short-term pump and dump "profit" you get by selling off assets.
What it was, je ne sais quoi.
The most revealing moment is when Bannon says the new Deplorable coalition requires large percentages of working-class brown and black votes for the electoral math to work.
Wow, that was much, much better than I expected. Not that I had expectations, I guess, since I've never heard Bannon actually talk before today so I had no idea what he's like.
He's a compelling, captivating speaker. I was pretty much hooked from the opening line onwards.
"Maximizing shareholder value" is a laudable goal in a competitive free market economy. In the Keynesian Globalized economy in which corporate players with the right political connections and sufficient size to credibly claim "Too Big To Fail" status, maximizing shareholder value has evolved into a privatized profit/socialized risk proposition.
Watched the 1st half -- saving the rest for later.
Really enjoyed it.
Bannon is fighting for "economic nationalism." This is a countervailing force to "globalism" - -ie, open borders, free trade, the importing of tons of cheap crap from China, and so what if blue collar Americans lose their jobs and get addicted to meth and opioids?
Also, this is not "White Nationalism." Working class, blue collar blacks and hispanics also get hosed by globalism and the open border Left (and globalist Chamber of Commerce Republicans who like cheap labor).
Even if one does not buy Bannon's thesis, nobody can deny that the man -- based on his thesis - deserves a seat at the table of ideas.
And yet McMaster had him, and most of general Flynn's appointments, removed Harvey, townley, the one now assigned to sessions,
Great use of an hour+. Xlnt and clear talking points from Bannon. He's got some dreamer in him which makes him kind of charming. Kudos to Oxford students for their politesse.
Why did I find myself so sad at points during his speech?
Bingo. I suspect every graduate with a BA degree in the Anglo-American world wants to believe this, and knows that virtue signaling revulsion at Trump and his Deplorables is absolutely necessary to every academic/government/biglaw/corporate position they aspire to.
Christopher Caldwall said much the same thing back last decade:
Perhaps it is that at universities—through which pass all small-town people aiming to climb to a higher social class—Democratic party affiliation is the sine qua non of being taken for a serious, non-hayseed human being.
For these people, liberalism is not a belief at all. No, it's something more important: a badge of certain social aspirations. That is why the laments of the small-town leftists get voiced with such intemperance and desperation. As if those who voice them are fighting off the nagging thought: If the Republicans aren't particularly evil, then maybe I'm not particularly special.
The Weekly Standard, Smiley's People, 29 Nov 2004
Bannon nailed it.Populism is not a race, or ethnic, or gender, or inherited status, It is a citizenship open to all who will fight for it. And that is pure Jacksonian populism.
The Federal Reserve Bank had better say its prayers.
I am watching as requested. Stopped here to take a note:
Around 5:40+ish - He says "SHE IS THE GUARDIAN OF A CORRUPT AND INCOMPETENT ELITE."
We know. She-> is. and SHE-> won't go away - because those elites want their pay to play payday.
Bush and McCain and the Demos bailed out GM.
NNBD identifies Bannon as a 'White Nationalist'. There is a link on the website to correct errors but it wasn't working. As I've asked before: If I am white and a nationalist, does that make me a White Nationalist?
I thought Bannon did very well. Except for one moment, he treated the room with respect and clearly enjoyed the challenge. That one moment was when an annoying SJW woman asked something or other and Bannon sort of interrupted what he was saying to add, "I'm sorry I'm mansplaining," and it came across as lame righty needling. But I wish I could do as well for so long.
Something else impressed me: How he realized he was speaking to students and not intellectual or political equals. That is, he seemed mindful of his role as an adult. Twice, he turned the temperature down. In both cases a student said something borderline rude or inciting. One time Bannon said to the offended members of the crowd, "No, it's a good question." The other time the crowd started to boo and Bannon raised his hand the way you do to say stop, and said "no."
One last thing: There are articulate, intelligent lefties, but if most of those kids are the cream of the crop, Britain deserves to die.
The corrupt elite must smear Bannon. That's what the corrupt elite do.
One last thing: There are articulate, intelligent lefties, but if most of those kids are the cream of the crop, Britain deserves to die.
Fool Brittania.
His definition of Fascism is correct @ 9:00 ish.
11:41 millennial's in better shape, but they dont' own anything. That's what the elites want.
"WE are not an imperial power, we are a revolutionary power."
a less corpulent, cleaned-up, right-leaning Michael Moore?
Michael Moore is a fat leftwing propagandist devoid of ideas.
Bannon has ideas. You may disagree, but they are merely ideas.
The left do not have ideas - other than the old progressive-socialist-marxist nanny-fascist state, punitive taxation, and an all powerful administrative state.
30:37 very good.
The left only put the camera on the right. Bannon rightfully denounces ethno-nationalists as a dead end.
What a bunch of bullcrap, but at least it demonstrates why right-wing politics is so convoluted, incoherent and cracked. He basically has become leftwing on almost everything, other than this whole "deconstructing the administrative state" catchphrase. Well, if he wants to return the government back to the people, then why does he have to fear it and pick at it and "deconstruct" it so fucking much? Let the people do what they want with it. Does he also advocate/believe in "deconstructing the guns" that he wants the people to have so many of? Either go all the way progressive or just stay an elitist, which is what conservatives are and can't help being. Even the Republican dirt people.
There's a reason democracy and conservatism don't go together; never have and never will. Bannon's fooling himself if he thinks right-wing populism is going to do anything differently than it did in 1930s Europe. It's a misnomer. A sham. A chimera. If you're not going left-wing then you're not going populist. David Frum called his ass out in a heartbeat on this very point and asked him why his party's restricting the voter rolls. He's as populist as a panda driving a Pinto. But sure, keep going everywhere in that flack jacket or whatever. Dress down, Steve. We're so fooled.
I started watching this and ended up sitting through the entire thing, so check it out"
So what say you?
The biggest question peepee - is where is he on making sure we are ass-screwd by hypocrite corruptocrats for a carbon credit scheme and a punitive tax. Also - can we all be more like New Jeresy in Taxation and fabulous senators.
He's right about millennials not allowed to own anything. Hillary is cool with it too.
Right up there with Macron ditching nuclear we'll ride the bus.
https://mobile.twitter.com/Samueltadros/status/1067534521342615552
He whiffed on the answer to the girl talking about the dissolution of democratic institutions.
The answer is simple: The swamp did it to themselves. Deplorables keep sending Paul Ryans to Congress expecting them to live up to their promises and what have they gotten in return for the past 25-30 years? Nothing. That's where you get Trump.
So why is the ideal tariff rate zero, when the ideal tax rate is not zero?
The ideal corporate tax rate is zero. Ultimately the economic burden falls to individuals.
"Well, if he wants to return the government back to the people, then why does he have to fear it and pick at it and "deconstruct" it so fucking much?"
Man, you're deaf.
Those 1.6 million black voters who didn’t vote for Hillary? All the guys at the barbershop.
You really got your head way up your ass, Bimbos Apple. Trump is making the train crash he's conducting more and more obvious by the day. By the hour. Apparently taxing GM to use raw materials here and make the smaller and more efficient cars that are selling around the world wasn't his cup of tea. So he yells at them for cutting 14,000 jobs in the midst of his tax cut. Yep - governing by yelling and CAPS LOCK seems to be finally hitting the wall of reality it was always up against. But sure, bitch and moan about taxes and corruption and New Jersey and "permission" to own things that he can't force Twitter to have made. I'm sure it beats reality, right? Maybe he can find another tax cut for hedge fund traders to pass. That'll show 'em. Run up that debt! There's not enough hedge fund traders and bloated military budget in the world to take all his tax cut giveaway goodies, but I'm sure you'll try to find some more!
Ryan was a protege of the late Jack Kemp, who did believe in free market approaches to poverty, but that was 25 years ago.
Man, you're deaf.
Man, you're blind.
Just listen to the guy's words and form a rational conclusion - if your Republican lizard brain can stand to do so. He wants to "deconstruct the administrative state." If anarchy is what he wants then you don't have to give any of it back to the people - it's already available to them if that's what they want. But they want government - just not one of by and for the hedge fund traders and CEOs and whomever else is taking away their healthcare and competing for their decent standard of living.
One of these days you'll realize the limits of your bootlicking. The people should push you on your ass as you're bent over licking them. But they're too kind to and you'll continue to not learn your lesson for the next 40 years that you're out of power. Shit, Republicans still can't figure out how they gave us 1929.
"if your Republican lizard brain can stand to do so. "
Ha. I'm not a Republican. Nice try, though.
It's a neat hat trick, the left based on a bogus Boston fed mandated lending to those unqualified to borrow, this involved Cisneros (who was the Harvard trained wunderkind) and Cuomo, Bush bought into said notions and when Greenspan pulled the pin
@PPPT: He wants to "deconstruct the administrative state." If anarchy is what he wants
Is there no middle groups between anarchy and administrative state to explore? Is it a rhetorical trick on your part to exclude that enormous middle, or do you really see only the two alternatives?
Would restoring the role of legislatures in government and reducing the role of unelected administrative and regulatory officials really be "anarchy"?
Is there no middle groups between anarchy and administrative state to explore?
Nope.
You can't "deconstruct" what FDR built. He built the modern fucking presidency. Even Nixon added on to it when he figured that allowing major American rivers to catch fire was a bad thing. What a genius, eh?
Republicans have been going to war against FDR since FDR was in power, and even moreso for the last 40 years that they've been holding power. Name one of their policies that's worked. You can't do it. It's all ideology and resentment (against FDR) and not a single "exploration" of their stupid ideological rectal examination that's gone anywhere or done anything decent. 40 years is enough. It's not worked. It didn't work prior to 1929 and it won't work in 2018. The people have spoken, and they're finally hip to this shame. They don't want Trump or his party's bullshit ideological nonsense, just a pro-worker and generally progressive agenda. Just like the one that worked for America from FDR to Nixon. Time for you to wake up.
rehajm said...
"The ideal corporate tax rate is zero. Ultimately the economic burden falls to individuals."
Foreign individuals cannot be made to share the economic burden of maintaining American economic infrastructure. But foreign corporations can be.
Time to end the exploration, Gabe. 40 years of digging a hole isn't getting us out of this hole. 40 years is long enough. Time to return to people who want to get things done once again for a change, instead of those asking to be elected to do less and less of nothing. If they want to do nothing but cut their own taxes then let them do it without the paycheck and private sector connections it gets them in our industrial-political machine. Enough.
The 1920 recession was almost an oversight, the tariff calibrations from fordney macomber did not fundamentally change economic circumstances even after the dawes bill.
Hillary was queen of the administrative state. One that first, operates for her benefit.
Hillary was queen of the administrative state. One that first, operates for her benefit.
Your robot draw-string needs recalibrating. Show us the tax benefit Hillary would have gotten from anything she proposed. Now show us the tax benefit Trump got. Oh wait, you say - you can't do that because Trump made his tax returns secret? How inconvenient for anyone objective. And how convenient for him.
The right-wing has gone way beyond doubling down on stupidity. They've tripled and quadrupled down on it. Go tell those Trump supporters in Ohio whose 14,000 jobs just got slashed you said hi.
Immoral imbecilic fuck-up assholes. Just leave politics already.
Tax benefit? oh how dare any worker get to keep any of their money. You're such a knee jerk proggy, pee pee.
Grifters don't need tax benefits, they need the Podesta group.
GM was bailed out with tax payer money by Bush, McCain and the Democrats.
The fact that GM didn't take the opportunity to build cars people want to buy is pathetic and not anyone's fault but GM and the management.
BTW - Obama promised to buy a Chevy Volt. Did he keep that promise?
If there was a bombshell in Trump's tax returns, we'd know it.
Workers? Oh right. The biggest concern for someone making less than $60k annually is taxes. You live in a fucking fantasy. Those cuts expire the hedge-fund traders' don't. And you still believe his worker rhetoric? You live in a fantasy.
GM's management doesn't stop it from being hurt worse by Trump's tariffs. (And his anti-CAFE standards). But I get it, it was GM hurt by those 14,000 jobs - not the workers. Right. It must be hard for an up-the-butt corporatist shill like you to figure out when to get populist with the corporate stuff and when to hit their workers in the ass. Ouch. You go April! Take on GM by cutting those jobs! You really showed them!
BTW - Obama promised to buy a Chevy Volt.
BTW, you're still avoiding the topic and not figuring out how to defend your party's horrible policies. Must be hard, being a phony pro-worker Republican. Republicanism and workers go together like oil and water. You've hated workers ever since FDR figured out how to stop shitting on them, and probably way before that.
The maddow facepalm was legendary, that was a year ago, the times had their own wile e coyote moment some months ago.
Bertelsmann gave Obama a 60 million dollar payoff for his memoirs (reward for pushing the Iran deal through)
According to GM, it was not the tariffs, it is car sales. Nobody wants to buy an Impala.
But you go with that BS talking point.
Obama's managed decline was so much better. *what was I thinking*?
DBH: "According to GM, it was not the tariffs, it is car sales. Nobody wants to buy an Impala."
The only surprising thing about GMs decision to dump the Volt and Cruz and loser impala is that it took this long.
Dick'n
GM, Ford chrysler, amc, studebaker, willys, Hudson et al haven't built cars Americans wanted to buy for 60-70 years.
They keep asking for one more chance "we'll get it right this time. Honest we will. Please just give us a 39th chance." and like Charlie brown and the football, govts, repo and demmie do it.
We need to let companies fail. The worst thing that ever happened to the American auto industry was Carter's bailout of chrysler. Yes, govt got its money back with interest and chrysler has been passed around like a Rotherham schoolgirl. It is pitiful to watch.
Let them fail. Something useful may rise from the ashes.
And for God's sake let Tesla fail too. Electric cars are about as useless as tits on a bull. The uselessness is demonstrated by the fact that nobody will buy one unless heavily subsidized.
I've not owned a legacy brand American car since the 70s. They fucked me then because I had limited choices. Now I have choices and they aren't even on the list.
John Henry
But you go with that BS talking point.
Here's an April Apple BS talking point:
"Cutting GM's taxes was a benefit to those 15,000 employees! Their (temporary) tax cuts will also be financed by Chinese ownership of our debt so all is good! Whoopee!!!!"
Trump was PLAYED by Wall Street! Look at him promise to keep those jobs from EVER going away!
But now Apple's so deluded that she says these job losses were better than Obama's having kept their jobs. You go, April! Keep up those job losses! Make America Not-So-Great Ever Again!
Next up for PPPT:no one bought the crappy Volt/Cruze because racism, corporate farms in the midwest and midwest homes avg sq footage.
TRUMP: "If I'm elected, you won't lose one plant. You'll have plants coming into this country. You're going to have jobs again. You won't lose ONE plant. I promise you. I promise you."
Way to go! The FRAUD pulled off his greatest FRAUD yet!
He's your boy, April! Show him the love!!!
Next up for DRECK O is no defense of his party standard bearer.
It's almost like you can't say anything good about him.
Come on, Dreck-O! Defend your president!
Back him up on those promises he made to those Warren MI plant employees!
DO IT YOU DIRTY FUCKER!!! I double-dog dare you!
Pussy.
Well Chrysler's now wholly owned by fiat, that's what we wanted to happen right, that was after the bankruptcy I own a Chrysler made before the bailout btw.
As for Mary barra its curious her companies pac donated to Sherrod 'restraining order' brown, coincidence I don't think so.
So, apart from putting American auto employees out of work, denying science, and running up debt to pay for PERMANENT hedge fund trader tax cuts, what is Trump good for?
"Mismanaged decline". LOL!!!
I think it sucks that those jobs are lost - but I know where to put the blame.
On GM.
GM got a tax payer funded bailout. Right pee pee? Or do you want to re-write history on that one.
Healthy car manufactures, who build vehicles in the US, didn't need a bailout, and they make cars people want to buy.
Honda
Toyota
Ford
Subaru
GM - they still make good trucks, right? GM admitted today that the cars they make - nobody wants to buy them. Or course to the left that = blame Trump.
Taxes and tariffs - nothing to do with it. Said GM.
GM got a tax payer funded bailout. Right pee pee? Or do you want to re-write history on that one.
Not on the watch of the guy who lost all its employees' jobs. And the bailout was paid off... WITH INTEREST. You seem to be against our budget items yielding a return on investment. Why?
I think it sucks that those jobs are lost - but I know where to put the blame.
On GM.
Pretty nice of Trump to give them a nice corporate tax cut first, though. Right?
TRUMP GOT ROLLED! WALL STREET KNOWS HE'S A CHUMP! THE CEOs ARE ALL GETTING THEIRS FROM THAT FUCKING LOSER!
Most of the tax cuts were re-invested in raises all over the place.
GM - what did the union bosses do? Certainly they dropped the ball when it came to making autos people want to buy.
BLAME TRUMP!
Most of the tax cuts were re-invested in raises all over the place.
I'm sure the unemployed are very happy to know that. Wow.
You Republican'ts can't ever shed your true colors, can you? Once again praising the rich, like that matters.
It's not the union bosses' job to figure out what models to make you dumb dildo. Hello. Union membership is now lower than after since your party's decades of war on it so congratulate yourself. How's that working out?
BLAME HILLARY! (Even though she's not in office anywhere. Pretty desperate of you to do, Apple).
Canada was burned as badly as the us, those planets cost them 10 billion
most of your commenters haven't listened to the video, but merely are echoing memes.
He sounds a lot like Bernie Sanders against wall street/international bankers.
Nancy Reyes: most of your commenters haven't listened to the video, but merely are echoing memes.
He sounds a lot like Bernie Sanders against wall street/international bankers.
They may not have watched the video, but that doesn't follow from the fact that a populist conservative sounds like Bernie Sanders on the subject of Wall Street. That shouldn't surprise anyone who understands that "conservatism" comprises more ideological strands than just Conservatism(tm).
YoungH: These people are the intellectual elite of Britain. When Bannon speaks, they should recognize his intellectual roots & sources & question him accordingly.
It was disturbing that these "intellectual elites" appeared to have a grasp of events about on par with the Joe Schmoe who takes MSM output at face value. The interviewer and most of the questioners could at least operate coherently within that tightly restricted field of understanding (a very low bar for an "intellectual elite", I know), but that one young woman near the end babbling on about Bannon's role in the dissolution of Western democracies...purest duckspeak.
There isn't a college or university in the US where such a conversation would be allowed.
Great little democracy you got there ....
And the winner is...President Pee Pee Tape for hijacking, trashing and trolling an an imminently interesting thread for no good reason. Special mention to everyone that engaged him.
Surfed announces: And the winner is...President Pee Pee Tape for hijacking, trashing and trolling an an imminently interesting thread for no good reason. Special mention to everyone that engaged him.
Bingo! Troll engagement obviously encourages trollery. Although some mentally ill types don't even need encouragement. It disgusts me when a good thread is thusly ruined.
Angle-Dyne opines: It was disturbing that these "intellectual elites" appeared to have a grasp of events about on par with the Joe Schmoe who takes MSM output at face value. The interviewer and most of the questioners could at least operate coherently within that tightly restricted field of understanding (a very low bar for an "intellectual elite", I know), but that one young woman near the end babbling on about Bannon's role in the dissolution of Western democracies...purest duckspeak.
Face it. Most people, be they students or 'journalists', ask questions of the speaker not to hear the answers but to enhance their own importance.
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Extremely interesting and eloquent. His thoughts completely align with my trump support. And why I despise the gope and the chamber of commerce so much.
The students are woefully indoctrinated by their media masters.
As a regular visitor to Althouse, I appreciate the intellectual rigor which most commenters bring to the table. I have found my enjoyment has increased greatly since I made the decision to ignore PeePee's posts.
Well thank you very much, andy karas. As not only a regular visitor but a rigorous commenter here, I appreciate that we don't have to be subjected to the inanity of your own thin, inadequate, and undoubtedly unrigorous opinions very often. Please comment even less often; we'd all be better off for it.
And the winner is...President Pee Pee Tape for hijacking, trashing and trolling an an imminently interesting thread for no good reason.
Nice blog
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