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thinkahol *

Record profits and record unemployment: Nothing's trickling down - CSMonitor.com - 0 views

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    The Big Money economy is booming. According to a new Commerce Department report, third-quarter profits of American businesses rose at an annual record-breaking $1.659 trillion - besting even the boom year of 2006 (in nominal dollars). Profits have soared for seven consecutive quarters now, matching or beating their fastest pace in history. Executive pay is linked to profits, so top pay is soaring as well. Higher profits are also translating into the nice gains in the stock market, which is a boon to everyone with lots of financial assets. And Wall Street is back. Bonuses on the Street are expected to rise about 5 percent this year, according to a survey by compensation consultants Johnson Associates Inc. But nothing is trickling down to the Average Worker economy. Job growth is still anemic. At October's rate of only 50,000 new private-sector jobs, unemployment won't get down to pre-recession levels for twenty years. And almost half of October's new jobs were in temporary help.
thinkahol *

Obama Must Enforce Oil Speculation Laws - 0 views

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    With Wall Street speculators driving up oil and gas prices to near record highs, Sen. Bernie Sanders (I-Vt.) today urged President Obama to ask for the immediate resignation of federal regulators who won't enforce a new law to stop excessive speculation in oil markets. Gasoline pump prices in Vermont averaged $3.90 a gallon today, a penny more than the national average. At the same time, big oil companies posted record profits. ExxonMobil's $10.7 billion first-quarter profit was 69 percent greater than one year ago.
thinkahol *

t r u t h o u t | Do Not Pity the Democrats - 0 views

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    There are no longer any major institutions in American society, including the press, the educational system, the financial sector, labor unions, the arts, religious institutions and our dysfunctional political parties, which can be considered democratic. The intent, design and function of these institutions, controlled by corporate money, are to bolster the hierarchical and anti-democratic power of the corporate state. These institutions, often mouthing liberal values, abet and perpetuate mounting inequality. They operate increasingly in secrecy. They ignore suffering or sacrifice human lives for profit. They control and manipulate all levers of power and mass communication. They have muzzled the voices and concerns of citizens. They use entertainment, celebrity gossip and emotionally laden public-relations lies to seduce us into believing in a Disneyworld fantasy of democracy.
thinkahol *

t r u t h o u t | Fail and Grow Rich on Wall Street - 0 views

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    Welcome to the brave new world of post-bailout capitalism. The Commerce Department announced Tuesday that corporate profits are at their highest level in U.S. history, and the Fed released minutes of an early November meeting in which officials predicted a stagnant economy and continued high unemployment.
thinkahol *

Organizing Help Wanted | Common Dreams - 0 views

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    Right now, according to a number of studies, we are losing about $100 billion every year because corporate America and the very wealthy are stashing their money in tax havens like the Cayman Islands and Bermuda. We should be aware that in 2009, ExxonMobil made $19 billion in profits and not only did the company not pay anything in taxes, it got a $106 million refund from the IRS. We should also be aware that since 1997, we have almost tripled funding for the military. So if we are serious about reducing the deficit, those are things we need to look at-not at Social Security, not programs everyday Americans need.
thinkahol *

Why Isn't Wall Street in Jail? - 0 views

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    Which is not to say that the Obama era has meant an end to law enforcement. On the contrary: In the past few years, the administration has allocated massive amounts of federal resources to catching wrongdoers - of a certain type. Last year, the government deported 393,000 people, at a cost of $5 billion. Since 2007, felony immigration prosecutions along the Mexican border have surged 77 percent; nonfelony prosecutions by 259 percent. In Ohio last month, a single mother was caught lying about where she lived to put her kids into a better school district; the judge in the case tried to sentence her to 10 days in jail for fraud, declaring that letting her go free would "demean the seriousness" of the offenses. So there you have it. Illegal immigrants: 393,000. Lying moms: one. Bankers: zero. The math makes sense only because the politics are so obvious. You want to win elections, you bang on the jailable class. You build prisons and fill them with people for selling dime bags and stealing CD players. But for stealing a billion dollars? For fraud that puts a million people into foreclosure? Pass. It's not a crime. Prison is too harsh. Get them to say they're sorry, and move on. Oh, wait - let's not even make them say they're sorry. That's too mean; let's just give them a piece of paper with a government stamp on it, officially clearing them of the need to apologize, and make them pay a fine instead. But don't make them pay it out of their own pockets, and don't ask them to give back the money they stole. In fact, let them profit from their collective crimes, to the tune of a record $135 billion in pay and benefits last year. What's next? Taxpayer-funded massages for every Wall Street executive guilty of fraud?
thinkahol *

YouTube - ZEITGEIST: MOVING FORWARD | OFFICIAL RELEASE | 2011 - 0 views

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    This is the Official Online (Youtube) Release of "Zeitgeist: Moving Forward" by Peter Joseph. [30 subtitles ADDED!] On Jan. 15th, 2011, "Zeitgeist: Moving Forward" was released theatrically to sold out crowds in 60 countries; 31 languages; 295 cities and 341 Venues. It has been noted as the largest non-profit independent film release in history. This is a non-commercial work and is available online for free viewing and no restrictions apply to uploading/download/posting/linking - as long as no money is exchanged. A Free DVD Torrent of the full 2 hr and 42 min film in 30 languages is also made available through the main website [below], with instructions on how one can download and burn the movie to DVD themselves. His other films are also freely available in this format.
thinkahol *

Petition: End Limited Liability (and Save the World) | Change.org - 0 views

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    Democrat or Republican, Libertarian or Socialist, politically active and not we are reaping the bitter reward of a political and legal system designed to maximize corporate profits at the expense of our environment, our livelihood, and our very lives. Our society is unraveling. We all know this. This is not idle conspiracy theory. These are well established facts. We are ruled by a headless beast that is no longer accountable to us. That it is headless makes it no less beastly. But there is a silver bullet. It's within our power to restore a functioning free market; to take back our democracy. We must end limited liability for corporations. Only when wealthy investors are no longer shielded from the costs that we collectively bear in their stead, only when they can no longer hide from the burden they have placed on us, only then can we expect the end of corporate plunder.   We are running out of time. Millions of Germans lost faith in the free market and capitalism during the Great Depression, and "with the failure of the left to provide a viable alternative, they became vulnerable to the rhetoric of a party that, once it came to power, combined Keynesian pump-priming measures that brought unemployment down to 3 percent with a devastating counterrevolutionary social and cultural program."
thinkahol *

A Primer on Class Struggle | Common Dreams - 0 views

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    When we study Marx in my graduate social theory course, it never fails that at least one student will say (approximately), "Class struggle didn't escalate in the way Marx expected. In modern capitalist societies class struggle has disappeared. So isn't it clear that Marx was wrong and his ideas are of little value today?" I respond by challenging the premise that class struggle has disappeared. On the contrary, I say that class struggle is going on all the time in every major institution of society. One just has to learn how to recognize it. One needn't embrace the labor theory of value to understand that employers try to increase profits by keeping wages down and getting as much work as possible out of their employees. As the saying goes, every successful capitalist knows what a Marxist knows; they just apply the knowledge differently. Workers' desire for better pay and benefits, safe working conditions, and control over their own time puts them at odds with employers. Class struggle in this sense hasn't gone away. In fact, it's inherent in the relationship between capitalist employer and employee. What varies is how aggressively and overtly each side fights for its interests.
thinkahol *

It's Time to Get Outraged - 0 views

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    'If more Americans paid attention to the fate of neighbors and loved ones who have fallen victim to the cruel dysfunction of our healthcare system, they would see through the onslaught of lies and propaganda perpetrated by special interests profiting from the status quo.' Wendell Potter, Reader Supp
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