Posts Tagged ‘Wall Street’

Political Culture: Michael Moore’s “Capitalism,” a Don’t-Like-It-Very-Much Story

All the dictionaries in my house are rather old, but I’m pretty sure the following definitions (from the Second College Edition of Webster’s New World Dictionary) still apply:

capitalism: the economic system in which all or most of the means of production and distribution … are privately owned and operated for profit

democracy: government in which the people hold the ruling power either directly or through elected representatives

Among the many, many problems with Michael Moore’s new film, Capitalism: A Love Story, perhaps the most basic is his apparent inability to distinguish between economic and political systems. His conclusion – one he repeated at length on Bill Maher’s show last week – is that we need to “abolish capitalism and replace it with democracy.” It’s a populist idea, to be sure, intended to rouse the (liberal, upper-middle-class) rabble to head directly from the theater to the local Home Depot for torches and pitchforks. But no matter what Moore actually meant – and what he meant is that we need to limit the overwhelming influence that corporations and financial elites currently wield over American life – his message is inevitably lost (at least amongst his decently educated audience) in his nonsensical juxtaposition of capitalism and democracy as mutually exclusive.

Sadly, little else about the scattershot Capitalism: A Love Story makes much sense, either. The film is a jumble of macro- and micro-economic diatribes that fails almost completely to show the link between the collapses and bailouts on Wall Street and the current struggles on Main Street. Moore wants desperately to make us see that link, and to get us angry about it, but he gets no closer than anyone else has to illuminating the complex financial instruments (derivatives, credit default swaps, etc., etc.) that played a major role in the banking catastrophe – or to showing us how they affect the lives of ordinary people through foreclosures, job losses and the like. (more…)

Film Review: “Capitalism: A Love Story”

Capitalism__A_Love_Story_1Did you know that one home is foreclosed every 7 1/2 seconds in the United States? Or that millions of unsuspecting Americans have secret life insurance policies taken out on them by the very companies they work for? If you didn’t, Michael Moore is here to tell you all about it in his new film Capitalism: A Love Story. So sit back and prepare for history class…

It’s been 20 years since Michael Moore burst onto the film scene with his first documentary, Roger & Me. Although his films have gotten bigger in budget and broader in scope, one thing hasn’t changed: Moore’s decisive uphill battle to point out what he perceives as the ills which face this country, and possible ways to correct them. All of this dedication comes to the fore in Capitalism: A Love Story, which details not just the history of capitalism itself, but how much the dream has changed from an idealistic vision that could have allowed us to live in a financial utopia, to a nightmarish quagmire that threatens to collapse our economy at any moment, based on the insatiable avaricious behavior of the 1% rich that unfortunately hold power over all of us. (more…)

The Bigger Picture: From Dreams to Reality

79230495Since its inception, this column has at times deviated from the strict parameters that most “movie” columns adhere to. In many ways, my intention has always been to touch on more than the average movie discussion, as it is my belief that there is a link to the world of cinema in every facet of our lives. That said, I hope you’ll forgive me from straying a little further even than normal.

I’ve been working for a small photography agency for the past two and a half years. It has become an almost ideal situation for me. It is only a mile from my home, and I have been able to walk. The pay is better than any job I’ve had. I have my own private office, and very few coworkers to have conflicts with.

A couple weeks ago, I was informed that I am to be laid off, effective April 1st. Talk about a great April Fool’s Day. Maybe the day will come and everyone will pop out of a closet and shout, “Just kidding!” and everything will be all right again. Since there is virtually zero chance of this occurring, I must instead spend my time looking for a new job in what is effectively a flatlining economy.

As Americans, many of us view our jobs like relationships. Our office becomes like a home, and our coworkers like family. Many of us have a difficult time separating our personal lives from our professional ones.

Let’s take that idea, and turn it on its head: Since we are equating our jobs with relationships, I’d like everyone to think of a relationship they’ve had that has ended. It can be romantic or platonic. I’m sure we can all think of a situation in our past that we didn’t want to end, but now are better off for its demise.

Sometimes, to truly improve ourselves, we have to be released from that which we enjoy. There is an expression, often attributed to the writer Richard Bach, which says “if you love someone, set them free.” I know I am not the only soul to have been set free recently.

Therefore, we must all accept the inevitability that we are all in this together. No job is entirely safe right now, a fact that I overlooked until it was too late. What I think is happening right now is akin to a reset button being pushed. We have come so far in our excess that the only way to move forward again is from the starting line. (more…)

DVD News: 20th Century Fox — Disaster in the Making

20th Century Fox used to be one of the most respected film studios in the business. Its catalog of films is virtually legendary: Miracle on 34th Street (the 1947 version, not the 1994 remake), The Day the Earth Stood Still (the 1951 classic, not the crappy remake from last year), Gentlemen Prefer Blondes, The Seven Year Itch, the original Planet of the Apes film series, Young Frankenstein, the Star Wars films, the Alien series, The Princess Bride, Wall Street, Home Alone, Die Hard, and dozens of others.

In 2008, however, it went from a respected studio to one big joke, thanks to the fact that starting at the end of ‘07 and continuing through all of ‘08, the majority of the films it released either barely broke even or were outright box-office flops (Space Chimps, Max Payne, Australia, Meet Dave, The Rocker, and City of Ember, among others). While other studios were turning out blockbusters that earned $100 million like clockwork, Fox was fumbling the ball over and over again. For instance, it released The X-Files: I Want to Believe in the second week of The Dark Knight’s phenomenal run last summer, not to mention about ten years after anyone — even hard-core Files fans — could bring themselves to care; it interfered with the production of the Vin Diesel vehicle Babylon A.D., which, admittedly, would have probably failed no matter what; and it spurred fanboy wrath by suing Warner Bros. for profits from Watchmen, profits that Fox arguably didn’t deserve.

Now it’s reached a new low by revealing that from now on all extras — commentaries, background features, deleted scenes, etc. — on DVDs of its films won’t be included on any discs designed for rental purposes. This means that if you rent your DVDs from Blockbuster or some other store or service (possibly Netflix — more on that in a second), you won’t have the option to decide if you like the extras enough to later buy the DVD — you’ll be forced to buy them from stores, sight unseen, and have to hope that the extras are special enough to warrant the purchase of the disc, regardless of how you feel about the film.

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Pop Politico: “The Great Transition”

transitionAs the news about the global economic downturn goes from bad to worse, we’re at a point where government inaction is not a palatable option.  Something needs to be done, and countermeasures against further slippage into recession need to be implemented with all deliberate speed.  Most other countries in the grip of this recession are doing the same, and now, it seems, the United States is poised to spend an amazing amount of money to prime the pump to revive the economy. And since private enterprise is doing everything in its power to weather this storm the only way it knows how (i.e., by cutting overhead, reducing spending, and laying off employees), the importance of government action is magnified, because it’s seemingly the only option left.

President Obama’s proposed $825 billion stimulus package is currently running through the sausage mill of Congress, but this time, it’s supposed to be an “earmark free” bill.  But that’s not stopping Republicans from bloviating about pork in the bill that allots money for family planning (Contraceptives!) and the NEA (Robert Mapplethorpe! “Piss Christ!” One of the Guys!).  Those amounts are small compared with the money directed at improving the infrastructure of many agencies in the federal government — which, like the Social Security Administration for example, have not upgraded their central computer system Since the last days of the Carter Administration.

If pork = any kind of government spending, then the Republicans ought to stop acting holier than thou on this stimulus package and remember the heady days when they were in full support of blowing billions on war and war related organizations like Kellogg, Brown and Root.  You remember Kellogg, Brown, and Root, right?  You know, the company Dick Cheney was president and CEO of before appointing himself the vice presidential candidate during George W. Bush’s campaign for the White House?  The same company that’s been overcharging the American taxpayer for services provided to American soldiers serving in Iraq — just to name one example? I know, there’s a thing called “the loyal opposition,” but it seems the Republican leadership has very little they can really oppose, so they are going after those golden oldies of the cultural wars:  birth control and controversial artists.  What was that line Obama used about setting aside childish things?  Clearly it has fallen on deaf ears. (more…)