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Meetup details changed: The Political Economy

From: Lee
Sent on: Friday, June 26, 2009 7:17 PM
I've updated this Meetup. For more details, see the full listing:

When: June 30,[masked]:00 PM

Where: Taj Mahal - Deposit Required
318 East 6th Street (middle of the street, east of the Taj restaurant)
New York, NY 10003

Price: $7.00 deposit per person ($18 total for 4 course meal, $13 for first-timers)

(PLEASE NOTE Prague Spring is meeting over dinner at TAJ MAHAL on E.6th Street. A deposit is required to hold a seat for this meeting that includes a 4 course meal, otherwise we can not guarantee a seat at tables limited to 8 people. Please refer to the bottom of this post for more details.)

This discussion will be a little different. Instead of critiquing the government, which we do naturally, we will take the current political situation and project the effects on the market and the U.S. dollar.

Few would argue the role of money in our government. Wall Street got either the regulation it wanted, lacking enforcement of what was on the books and in some circumstances, no regulation at all. (See the reduced equity requirements for banks in 2006, the SEC?s and FBI?s failure to pursue fraud in underwriting standards and hedge fund improprieties, and the complete lack of credit derivatives regulation.) Have things changed or are we seeing mere window dressing on the current problems?

In addition, the Obama administration has pushed the healthcare agenda and single payer isn?t even being discussed. Politicians from both sides of the aisle don?t even want a real public option. This is not what the public wants, yet money in politics stills holds the largest voice.

Compounding these challenges is the deficits the country faces that rival only those of World War II, when such excesses were needed for survival in the World?s bloodiest war that knew no borders. Now this spending is directed towards one thing, the financial well-being of the country.

So we pose the question, what can we expect for the economy and the market of a country controlled by capitalist funding of campaign finance?

(We have not seen articles utilizing this perspective on market returns, but welcome any you can submit. In the meantime, Naomi Prins during an interview on Democracy Now provides some intriguing background to the topic. Ms. Prins points out the banking bailout was $13.6 trillion, not just the $700 billion TARP. Our point is that those providing the campaign financing will reap the benefits. So what will happen next?)

Reservation Policy: Please note that the $18 attendance fee includes a 4 course Indian dinner and covers the tax and tip too. (First time dinner attendees only pay $13 total including the deposit. Beverages are extra). To reserve a spot, you must make a $7 deposit through the PayPal link. The deposit allows us to plan on table sizes of 5-8 people, making for discussions that are neither too big nor too small.

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