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Muslim Academy

The Quran and Arab People - 0 views

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    The Holy Al-Qur'an is the main root of the Arabic culture owing to Arabic religious, social teachings and moral, and to the reality that it's valid for every place and age, and can keep step with the essentials and the new evolutions of every old age. The Sunnah is the second primal root of culture of the Arab-Islamic. Just as they trusted on the Al-Qur'an and its recall their scientific, intellectual and civilization renascence, Moslems also trusted on their Prophet's Sunnah, after they had recorded, compiled, and divided it into chapters, and later they had committed it in their technological efforts & in their path of life. The culture of Arab-Islamic, which originally bases from the Al-Qur'an and the Sunnah, is a large-minded culture which prophesies coexistence, understanding and dialogue.
Levy Rivers

Business Reputation: Creativity and Happiness: Reputation: Building on Trust - 0 views

  • One of the major outcomes of the attacks of 9/11 is the clear contest between forces that believe that the world civilization so based on trust can endure the counter views of the terrorist. The question for me is to what degree do our USA national reputation and organizing principles engender trust and freedom.
  • Barack (Lets reason together) is clearly for recapturing our lost status and McCain wants to extend the tough guy image of the Bush doctrine (Fear US - USA reserves the right to attack first).
  • This is especially understood - but not excused - in those of my generation and older, both from a black and white perspective.  For blacks its owed to us based on time in the country - as if a quota could make such a tactic make sense or even worse is he black enough to get back what racism over these many years has taken from us. On the other end are whites that figure that any black person smart enough to become President must be smart enough to take back from them all the advantages that they have accumulated.
thinkahol *

Late Night: Stop Whining, Liberals! | Firedoglake - 0 views

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    This again? OK, let's try this Team Obama. I know you're obviously doing focus groups on this stuff somewhere, but I've got to tell you. I'm your target customer and trust me -- you're badly missing the mark.
Skeptical Debunker

Rough Water - 0 views

  • For most of the last 1,500 years, the river supported a sustainable salmon economy. Salmon were at the heart of all the Klamath’s tribal cultures, and Indians were careful not to over-harvest them. Each summer, the lower Klamath’s Yurok and Hoopa tribes blocked the upstream paths of spawning salmon with barriers; then, after ten days of fishing, they removed the barriers, allowing upstream tribes to take their share. As the salmon completed their lifecycle, dying in the waters where they’d been spawned, they enriched the watershed with nutrients ingested during years in the ocean. Among the beneficiaries were at least 22 species of mammals and birds that eat salmon. Even the salmon carcasses that bears left behind on the riverbanks fertilized trees that provided shade along the river’s banks, cooling its waters so that the next generation of vulnerable juvenile salmon could survive. “We tried to go to court, to go through the political process, but it didn’t work. …The big issues were still out there, and we still had to resolve them.” Salmon’s biological family may have started in the age of dinosaurs a hundred million years ago. They’ve survived through heat waves and droughts, in rivers of varying flow, temperature, and nutrient load – but they were as ill-prepared for Europeans’ arrival as the Indians themselves. Gold miners who showed up in the mid-nineteenth century washed entire hillsides into the river with high-pressure hoses and scoured the river’s bed with dredges. Loggers dragged trees down streambeds, causing massive erosion, and dumped sawdust into the river, smothering incubating salmon eggs. Cattle grazed at the river’s edge, causing soil erosion and destroying shade-giving vegetation. Farmers diverted water to feed their crops. The dams were the crowning blows. Between 1908 and 1962, six dams were built on the Klamath. The tallest, the 173-foot-high Iron Gate, is the farthest downstream, and definitively blocked salmon from the river’s upper quarter – after it was built, the river’s salmon population plummeted. In addition, the dams devastated water quality by promoting thick growths of toxic algae in the reservoirs. For Klamath basin farmers, however, the dams were deemed indispensable, as they generated hydropower that made pumping of their irrigation water possible.To the farmers, the potential loss of the dams’ hydropower was considered no less crippling than an end to Klamath-supplied irrigation.
  • For most of the last century, the farmers were oblivious to the damage that dams and water diversions caused downstream, while the tribes and commercial fishermen quietly seethed. The annual salmon run, once so abundant that people caught fish with their hands, was roughly pegged at more than a million fish at its peak; in recent years it has dropped to perhaps 200,000 in good years, and as low as 12,000 – below the minimum believed necessary to sustain the runs – in bad years. Spring Chinook, which once comprised the river’s dominant salmon run, entirely disappeared. Two fish species – the Lost River sucker and the shortnose sucker – that once supported a commercial fishery, were listed as endangered in 1988. Coho salmon were listed as threatened nine years later. All this has had a devastating impact on the tribes. Traditionally able to sustain themselves throughout the year on seasonal migrations of the river’s salmon, trout, and candlefish, tribal members suffered greatly as the runs declined or went extinct. For four decades beginning in 1933, the tribes were barred from fishing the river even as commercial fishermen went unrestricted. Members of the Karuk tribe once consumed an estimated average of 450 pounds of salmon a year; a 2004 survey found that the average had dropped to five pounds a year. The survey linked salmon’s absence to epidemics of diabetes and heart disease that now plague the Karuk. The 2001 cutoff left farmers without irrigated water for the first time in the Klamath Project’s history. Over the next four months, many farmers performed repeated acts of civil disobedience, most notably when a bucket brigade passed pails of banned water from its lake storage to an irrigation canal while thousands of onlookers cheered. The protests attracted Christian-fundamentalist, anti-government, and property rights advocates from throughout the West; former Idaho Congresswoman Helen Chenoweth-Hage likened the farmers’ struggle to the American Revolution.
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  • A year later, it was the tribes’ and fishermen’s turn to experience calamity. According to a Washington Post report, Vice President Dick Cheney ordered Interior Department officials to deliver Klamath water to Project farmers in 2002, even though federal law seemed to favor the fish. Interior Secretary Gale Norton herself opened the head gates launching the 2002 release of water to the Project, while approving farmers chanted, “Let the water flow!” Six months later, the carcasses of tens of thousands of Chinook and Coho salmon washed up on the riverbanks near the Klamath’s mouth, in what is considered the largest adult salmon die-off in the history of the American West. The immediate cause was a parasitic disease called ich, or “white spot disease,” commonly triggered when fish are overcrowded. Given the presence of an unusually large fall Chinook run in 2002 and a paucity of Klamath flow, the 2002 water diversion probably caused the die-off. Yurok representatives said that months earlier they begged government officials to release more water into the lower river to support the salmon, but were ignored. photo courtesy Earthjustice In 2002, low water levels on the Klamath led to the largest adult salmon die-off in the history of the American West. The die-off deprived many tribes-people of salmon and abruptly ended the river’s sport-fishing season, but its impact didn’t fully register until four years later, when the offspring of the prematurely deceased 2002 salmon would have made their spawning run. By then the Klamath stock was so depleted that the federal government placed 700 miles of Pacific Ocean coastline, from San Francisco to central Oregon, off limits to commercial salmon fishing for most of the 2006 fishing season. As a result, commercial ocean fishermen lost about $100 million in income, forcing many into bankruptcy. Even more devastating, a precipitous decline in Sacramento River salmon led to the cancellation of the entire Pacific salmon fishing season in both 2008 and 2009. The Klamath basin was in a permanent crisis. It turned out that desperation and frustration were perfect preconditions for negotiations. “Every one of us would have rolled the others if we could have,” Fletcher, the Yurok leader, says. “We all tried to go to court, to go through the political process, but it didn’t work – we might win one battle today and lose one tomorrow, so nothing was resolved. We spent millions of dollars on attorneys, plane tickets to Washington, political donations, but it didn’t make any of us sleep any better, because the big issues were still out there, and we still had to resolve them.”
  • In January 2008, the negotiators announced the first of two breakthrough Klamath pacts: the 255-page Klamath Basin Restoration Agreement. In it, most of the parties – farmers, three of the four tribes, a commercial fishermen’s group, seven federal and state agencies, and nine environmental groups – agreed to a basic plan. It includes measures to take down the four dams, divert some water from Project farmers to the river in return for guaranteeing the farmers’ right to a smaller amount, restore fisheries habitat, reintroduce salmon to the upper basin, develop renewable energy to make up for the loss of the dams, and support the Klamath Tribes of Oregon’s effort to regain some land lost when Congress “terminated” its reservation in 1962. This was a seminal moment, a genuine reconciliation among tribal and agricultural leaders who discovered that the hatred they’d nursed was unfounded. “Trust is the key,” says Kandra, the Project farmer who went from litigant to negotiator. “We took little baby steps, giving each other opportunities to build trust, and then we got to a place where we could have some really candid discussions, without screaming and yelling – it was like, ‘Here’s how I see the world.’ Pretty valuable stuff. The folks that developed those kinds of relationships got along pretty good.” Still, one crucial ingredient was missing: Unless PacifiCorp agreed to dismantle the dams, river restoration was impossible, and the pact was a well-intentioned, empty exercise. But PacifiCorp now had compelling reasons to consider dam removal. Not only was relicensing going to be expensive, but Klamath tribespeople were becoming an embarrassing irritant, in two consecutive years interrupting Berkshire Hathaway’s annual-meeting/Buffett-lovefests in Omaha with nonviolent protests that won media attention. Also, the Bush administration, customarily no friend of dam removal, signaled its support for a basin-wide agreement. Negotiations between PacifiCorp and mid-level government officials began in January 2008, but made little progress until a meeting in Shepherdstown, West Virginia four months later, when for the first time Senior Interior Department Counselor Michael Bogert presided. As Bogert recently explained, President Bush himself took an interest in the Klamath “because it was early on in his watch that the Klamath became almost a symbol” of river basin dysfunction. To Bush, the decision to support dam removal was a business decision, not an environmental one: The “game-changer,” Bogert said, was the realization that because of the high cost of relicensing, dam removal made good fiscal sense for PacifiCorp. That fact distinguished the Klamath from other dam removal controversies such as the battle over four dams on Idaho’s Snake River, whose removal the Bush administration continued to oppose.
  • In November 2008, when then-Interior Secretary Dirk Kempthorne announced a detailed agreement in principle with PacifiCorp to take down the dams, he acknowledged that he customarily opposed dam removal, but that the Klamath had taught him “to evaluate each situation on a case-by-case basis.” In September 2009, Kempthorne’s successor, Ken Salazar, announced that PacifiCorp and government officials had reached a final agreement. PacifiCorp and the many signers of the earlier Klamath Basin Restoration Agreement then ironed out inconsistencies between the two pacts in a final negotiation that ended with a final deal in January 2010.
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    Maybe the Klamath River basin would have turned itself around without Jeff Mitchell. Back in 2001, at the pinnacle of the conflict over the river's fate, when the Klamath earned its reputation as the most contentious river basin in the country, Mitchell planted a seed. Thanks to a drought and a resulting Interior Department decision to protect the river's endangered fish stocks, delivery of Klamath water to California and Oregon farmers was cut off mid-season, and they were livid. They blamed the Endangered Species Act, the federal government that enforced it, and the basin's salmon-centric Indians who considered irrigation a death sentence for their cultures. The basin divided up, farmers and ranchers on one side, Indians and commercial fishermen on the other. They sued one another, denounced one another in the press, and hired lobbyists to pass legislation undermining one another. Drunken goose-hunters discharged shotguns over the heads of Indians and shot up storefronts in the largely tribal town of Chiloquin, Oregon. An alcohol-fueled argument over water there prompted a white boy to kick in the head of a young Indian, killing him.
Omnipotent Poobah

Don't Blame Obama, America Did It To Itself - 0 views

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    Obama is neither liberal nor conservative, he's a middle of the roader. It sure would've been nice if voters had noticed that before they elected him.
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    I'd sure like to see Obama "kick some ass", instead of allowing the Repubs to do the same thing they've been doing for the past eight or nine years. Mainly bully and intimidate, and use scare tactics to get what they and big business want.
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    Frank: The democrats have a 60 vote majority and Obama doesn't need them at all for anything. He pretty much has let them know "We Won!" He also has pretty much let them know he doesn't need them. This is a Liberal controlled White House, Senate and House. Stop the blame game. Let's put the focus exactly where everyone who is truthful, here, understands: On the Democratic controlled Administration and Congress. They have all the marbles and they don't need the Republicans' vote. The problem Obama has is that he realizes that there is going to be a bloodbath. Please, don't say otherwise - even his own people are starting to prepare the party. Why do you suppose four Democrats announced that they are retiring - they aren't even running over the next 10 1/2 months. More will reitre before election day. He has the same problem that Clinton had - he could possibly lose the House and he would then be somewhat in the same position of Clinton - who was forced to the middle because he would not be able to get anything else approved. I may be wrong, history will decide, but I think the American people no longer trust either party. Are you happy with the Democrats? We now have senators selling their vote for $300,000,000 in one instance and Sen. Nelson just got a permanent exemption for Medicaid cost that States have to pay - Forever! All 49 other states must pick up this states cost - all for one vote! Do you believe this is what the Democrats, Republicans or Independents expect or want from their government. I don't. Getting back to my point, the people of America don't trust either party, now, and want them closely divided so they don't do too much harm. Independents have swung away from Obama in a very big way. He ran more as a centrist and now people fill lied to. Seven days before he took office he said he was fundamentally going to change America. No one had heard this before - not "Fundamentally". They expected a far more bipartisan
rich hilts

New Numbers Shell Game? - 0 views

shared by rich hilts on 13 Jan 11 - No Cached
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    Do you trust the government numbers? Do you know what they mean? What do the experts think? Come see the latest blindfold Obama is trying to slip over people's eyes to show how things are so much better!
thinkahol *

The military/media attacks on the Hastings article - Glenn Greenwald - Salon.com - 0 views

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    Last June, when Rolling Stone published Michael Hastings' article which ended the career of Obama's Afghanistan commander, Gen. Stanley McChrystal -- an article which was just awarded the prestigious Polk Award -- the attacks on Hastings were led not by military officials but by some of Hastings' most celebrated journalistic colleagues.  The New York Times' John Burns fretted that the article "has impacted, and will impact so adversely, on what had been pretty good military/media relations" and accused Hastings of violating "a kind of trust" which war reporters "build up" with war Generals; Politico observed that a "beat reporter" -- unlike the freelancing Hastings -- "would not risk burning bridges by publishing many of McChrystal's remarks"; and an obviously angry Lara Logan of CBS News strongly insinuated (with no evidence) that Hastings had lied about whether the comments were on-the-record and then infamously sneered:  "Michael Hastings has never served his country the way McChrystal has."  Here's Jon Stewart last year mocking the revealing media disdain for Rolling Stone and Hastings in the wake of their McChrystal story.
thinkahol *

Ryan Clayton: The SuperCongress Dilemma: Warren Buffett v. Grover Norquist - 0 views

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    If you had to choose between the advice of successful investor Warren Buffett or political hack Grover Norquist on how to fix our nation's fiscal ills, who would you trust? For most Americans, that's an easy question, because taxing the rich rather than bankrupting America sounds like a good idea to most of us.
thinkahol *

The global crisis of institutional legitimacy | Felix Salmon - 0 views

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    When Perry accuses Ben Bernanke of treachery and treason, his violent rhetoric ("we would treat him pretty ugly down in Texas") is scary in itself. But we shouldn't let that obscure Perry's substantive message - that neither Bernanke nor the Fed really deserve to exist, to control the US money supply, and to work towards a dual mandate of price stability and full employment. For the first time in living memory, someone with a non-negligible chance of winning the US presidency is arguing not over who should head the Fed, but whether the Fed should even exist in the first place. Looked at against this backdrop, the recent volatility in the stock market, not to mention the downgrade of the US from triple-A status, makes perfect sense. Global corporations are actually weirdly absent from the list of institutions in which the public has lost its trust, but the way in which they've quietly grown their earnings back above pre-crisis levels has definitely not been ratified by broad-based economic recovery, and therefore feels rather unsustainable. Meanwhile, the USA itself has undoubtedly been weakened by a shrinking tax base, a soaring national debt, a stretched military, and a legislature which has consistently demonstrated an inability to tackle the great tasks asked of it. It looks increasingly as though we're entering Phase 2 of the global crisis, with 2008-9 merely acting as the appetizer. In Phase 1, national and super-national treasuries and central banks managed to come to the rescue and stave off catastrophe. But in doing so, they weakened themselves to the point at which they're unable to rise to the occasion this time round. Our hearts want government to come through and save the economy. But our heads know that it's not going to happen. And that failure, in turn, is only going to further weaken institutional legitimacy across the US and the world. It's a vicious cycle, and I can't see how we're going to break out of it.
thinkahol *

The death of trickledown: will the great con of the last 30 years survive the riots? | ... - 0 views

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    Trickledown was a lovely theory . The fact it didn't work was never a deterrent to our politicians who have allowed themselves to be guided by it for decades. To be fair, its failure was always disguised behind a huge bubble of debt (both public and private) which is now deflating to reveal the tangled mess of inequality , social dysfunction and economic stagnation hidden behind. With vast sums of money being sucked relentlessly upwards it is not surprising that we have a squeezed middle and that others talk of growth without gain for large sections of the population. It also appears that the winners in our economic casino are now shirking the one responsibility that trickledown demanded of them - to invest. Some even talk of a strike by Europe's investor class . Meanwhile conspicuous consumption continues unabated so we at least have some clues as to where the money is going.
thinkahol *

Are Wikileaks and Anonymous Hackers All There Is Left We Can Rely on, with Trust in Bus... - 0 views

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    Their ability to bring powerful giants to heel is as compelling as the mythical Robin Hood's battle with a haughty medieval aristocracy.
Asif Sheeraz

Watch Capital Talk - 6th April 2009 - 0 views

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    Shehzad Roy President Zindagi Trust for free Education, Mir Hazar Khan Bajarani Federal Minister for Education, Dr. Mufti Sarfraz Naeemi Nazim-e-Ahla Jamia Naeemia Lahore, Prof. Dr. Qasim M Jan Vice Chairman Quid-e-Azam University, Prof. Dr. Saeeda Asadullah Khan Vice Chairman Fatime Jinnah Women University, Prof. Dr. Pirzada Qasim Raza Siddiqui Vice Chancellor Karachi University, in Special episode of Capital Talk and discusses with Hamid Mir.
david derouen

Ultimate Civics » Blog Archive » Corporations Are Not Persons - 0 views

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    By Ralph Nader & Carl J. Mayer New York Times, April 9, 1988 Our constitutional rights were intended for real persons, not artificial creations. The Framers knew about corporations but chose not to mention these contrived entities in the Constitution. For them, the document shielded living beings from arbitrary government and endowed them with the right to speak, assemble, and petition. Today, however, corporations enjoy virtually the same umbrella of constitutional protections as individuals do. They have become in effect artificial persons with infinitely greater power than humans. This constitutional equivalence must end. Consider a few noxious developments during the last 10 years. A group of large Boston companies invoked the First Amendment in order to spend lavishly and thus successfully defeat a referendum that would have permitted the legislature to enact a progressive income tax that had no direct effect on the property and business of these companies. An Idaho electrical and plumbing corporation cited the Fourth Amendment and deterred a health and safety investigation. A textile supply company used Fifth Amendment protections and barred retrial in a criminal anti-trust case in Texas. The idea that the Constitution should apply to corporations as it applies to humans had its dubious origins in 1886. The Supreme Court said it did "not wish to hear argument" on whether corporations were "persons" protected by the 14th Amendment, a civil rights amendment designed to safeguard newly emancipated blacks from unfair government treatment. It simply decreed that corporations were persons. Now that is judicial activism. A string of later dissents, by Justices Hugo Black and William O. Douglas, demonstrated that neither the history nor the language of the 14th Amendment was meant to protect corporations. But it was too late. The genie was out of the bottle and the corporate evolution into personhood was under way. It was not until the 1970's that corporations
Maria Lewytzkyj

Time and place - the coming-of-age story of Rep. Joe Wilson in today's world - 0 views

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    It's a coming-of-age story, you see. It's about a representative who has come of age from the voting booths of a town to accept the responsibilities of performing rousing debates on the floors of Congress with the interest of a constituency in mind while adhering to house rules. Don't fear, I'm not describing a remake of the "Cider House Rules" replacing the doctor with a Congressional representative. No, I'm describing the latest shock-and-awe disorderly behavior by a representative of a member of the 111th Congress. Enter Joe Wilson, a Congressional representative from South Carolina. In the aftermath of inappropriate timing, will the enforcement of ethical standards be abdicated in the US while many see that taking precautions in keeping the public trust in Congress is still the responsibility of everyone sitting in that room?
thinkahol *

Robert Scheer: Obama's Fatal Addiction - Robert Scheer's Columns - Truthdig - 0 views

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    If it had been revealed that Jeffrey Immelt once hired an undocumented nanny, or defaulted on his mortgage, he would be forced to resign as head of President Barack Obama's "Council on Jobs and Competitiveness." But the fact that General Electric, where Immelt is CEO, didn't pay taxes on its $14.5 billion profit last year-and indeed is asking for a $3.2 billion tax rebate-has not produced a word of criticism from the president, who in January praised Immelt as a business leader who "understands what it takes for America to compete in the global economy." What it takes, evidently, is shifting profit and jobs abroad: As of last year only 134,000 of GE's total workforce of 304,000 was based in the U.S. and, according to The New York Times, for the past three years 82 percent of the company's profit was sheltered abroad. Thanks to changes in the tax law engineered when another avowedly pro-business Democrat, Bill Clinton, was president, U.S. multinational financial companies can avoid taxes on their international scams. And financial scams are what GE excelled in for decades, when GE Capital, its financial unit, which specialized in credit card, consumer loan and housing mortgage debt, accounted for most of GE's profits. That's right, GE, along with General Motors with its toxic GMAC financial unit, came to look more like an investment bank than a traditional industrial manufacturing giant that once propelled this economy and ultimately it ran into the same sort of difficulties as the Wall Street hustlers. As The New York Times' David Kocieniewski, who broke the GE profit story, put it: "Because its lending division, GE Capital, has provided more than half of the company's profit in some recent years, many Wall Street analysts view G.E. not as a manufacturer but as an unregulated lender that also makes dishwashers and M.R.I. machines." Maximizing corporate profits at the taxpayer's expense is what top CEOs are good at, and after all it
thinkahol *

‪Social Security Didn't Create the Deficit‬‏ - YouTube - 0 views

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    Social Security didn't create the deficit, but America's seniors are being presented with a fake Social Security crisis to try to trick them into accepting reduced benefits. Social Security will be able to pay 100% of its benefits through 2037 without any changes whatsoever. So, why the panic today? If seniors accept cuts to Social Security benefits today, a surplus cash flow will build in the Social Security trust fund. According to the Congressional Research Service, "Social Security's cash surpluses are borrowed by the U.S. Treasury and can be used for tax cuts, spending or repaying debt." Social Security benefit cuts are increasing taxes paid to Social Security or extending retirement age will give more money for tax cuts spending or repaying the debt. Except for one thing: Social Security money belongs to those who have paid into the fund, it's not the government's money to use it; it shouldn't be the government's money to play with. Senior citizens should not have to accept a reduced standard of living to finance tax cuts for the rich. We must take a stand for senior citizens and protect Social Security and protect future generations from this raid on Social Security's funds.
thinkahol *

Our Untransparent President - NYTimes.com - 0 views

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    The problem is, "trust us" is no way to run a self-governing society.
Bakari Chavanu

Five Economic Reforms Millennials Should Be Fighting For | Politics News | Rolling Stone - 0 views

  • Some economists have proposed running a job guarantee through the non-profit sector, which would make it even easier to suit the job to the worker. Imagine a world where people could contribute the skills that inspire them – teaching, tutoring, urban farming, cleaning up the environment, painting murals – rather than telemarketing or whatever other stupid tasks bosses need done to supplement their millions. Sounds nice, doesn't it?
    • Bakari Chavanu
       
      Jeremey Rifkin's The End of Work proposes this idea.
  • What if people didn't have to work to survive? Enter the jaw-droppingly simple idea of a universal basic income, in which the government would just add a sum sufficient for subsistence to everyone's bank account every month. A proposal along these lines has been gaining traction in Switzerland, and it's starting to get a lot of attention here, too.
  • A universal basic income would address this epidemic at the root and provide everyone, in the words of Duke professor Kathi Weeks, "time to cultivate new needs for pleasures, activities, senses, passions, affects, and socialities that exceed the options of working and saving, producing and accumulating."
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  • Ever noticed how much landlords blow? They don't really do anything to earn their money. They just claim ownership of buildings and charge people who actually work for a living the majority of our incomes for the privilege of staying in boxes that these owners often didn't build and rarely if ever improve.
  • In a few years, my landlord will probably sell my building to another landlord and make off with the appreciated value of the land s/he also claims to own – which won't even get taxed, as long as s/he ploughs it right back into more real estate.
  •  Municipalities themselves can be big-time landowners, and groups can even create large-scale community land trusts so that the land is held in common. In any case, we have to stop letting rich people pretend they privately own what nature provided everyone.
  • Hoarders blow. Take, for instance, the infamous one percent, whose ownership of the capital stock of this country leads to such horrific inequality. "Capital stock" refers to two things here: the buildings and equipment that workers use to produce goods and services, and the stocks and bonds that represent ownership over the former. The top 10 percent's ownership of the means of production is represented by the fact that they control 80 percent of all financial assets.
    • Bakari Chavanu
       
      Defines capital stock
  • You know what else really blows? Wall Street. The whole point of a finance sector is supposed to be collecting the surplus that the whole economy has worked to produce, and channeling that surplus wealth toward its most socially valuable uses. It is difficult to overstate how completely awful our finance sector has been at accomplishing that basic goal. Let's try to change that by allowing state governments into the banking game.
  • There is only one state that currently has a public option for banking: North Dakota.
  • When North Dakotans pay state taxes, the money gets deposited in the state's bank, which in turn offers cheap loans to farmers, students and businesses. The Bank of North Dakota doesn't make seedy, destined-to-default loans, slice them up inscrutably and sell them on a secondary market.
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