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thinkahol *

Putting the Lie to the Republicans - 0 views

  • Earlier this month, Public Citizen issued a report about five regulations that spurred innovation and a higher quality of economic growth. As one of the authors Negah Mouzoon wrote, "when federal agencies implement rules for efficiency, worker safety, or public health and welfare, companies need to reformulate their products and services to comply. And so begins good ol' American competition. To comply with federal standards, companies need to invest in research and development, which often yields to new products and systems that both solve public policy problems and, often, boost business. The result? A brighter idea emerges."
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    About twenty years ago, Professor Nicholas Ashford of MIT came to Washington and testified before Congress in great detail about how and where safety regulations create jobs and make the economy more efficient in avoiding the costs of preventable injuries and disease.
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.
Bakari Chavanu

Capitalism's Self-inflicted Apocalypse - 0 views

  •  The present economic crisis, however, has convinced even some prominent free-marketeers that something is gravely amiss. Truth be told, capitalism has yet to come to terms with several historical forces that cause it endless trouble: democracy, prosperity, and capitalism itself, the very entities that capitalist rulers claim to be fostering.
  • Some eighty  years ago Supreme Court Justice Louis Brandeis commented, “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” Moneyed interests have been opponents not proponents of democracy.
  • In the early days of the Republic the rich and well-born imposed property qualifications for voting and officeholding. They opposed the direct election of candidates (note, their Electoral College is still with us). And for decades they resisted extending the franchise to less favored groups such as propertyless working men, immigrants, racial minorities, and women.
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  • The conservative plutocracy also seeks to rollback democracy’s social gains, such as public education, affordable housing, health care, collective bargaining, a living wage, safe work conditions, a non-toxic sustainable environment; the right to privacy, the separation of church and state, freedom from compulsory pregnancy, and the right to marry any consenting adult of one’s own choosing.
  • About a century ago, US labor leader Eugene Victor Debs was thrown into jail during a strike. Sitting in his cell he could not escape the conclusion that in disputes between two private interests, capital and labor, the state was not a neutral arbiter. The force of the state--with its police, militia, courts, and laws—was unequivocally on the side of the company bosses.
  • Any nation that is not “investor friendly,” that attempts to use its land, labor, capital, natural resources, and markets in a self-developing manner, outside  the dominion of transnational corporate hegemony, runs the risk of being demonized and targeted as “a threat to U.S. national security.”
  • Most of the world is capitalist, and most of the world is neither prosperous nor particularly democratic. One need only think of capitalist Nigeria, capitalist Indonesia, capitalist Thailand, capitalist Haiti, capitalist Colombia, capitalist Pakistan, capitalist South Africa, capitalist Latvia, and various other members of the Free World--more accurately, the Free Market World.
  • Corporate investors prefer poor populations. The poorer you are, the harder you will work—for less. The poorer you are, the less equipped you are to defend yourself against the abuses of wealth.
  • In the corporate world of “free-trade,” the number of billionaires is increasing faster than ever while the number of people living in poverty is growing at a faster rate than the world’s population. Poverty spreads as wealth accumulates.
  • To the extent that life is bearable under the present U.S. economic order, it is because millions of people have waged bitter class struggles to advance their living standards and their rights as citizens, bringing  some measure of humanity to an otherwise heartless politico-economic order.
  • There is a third function of the capitalist state seldom mentioned. It consists of preventing the capitalist system from devouring itself.  Consider the core contradiction Karl Marx pointed to: the tendency toward overproduction and market crisis. An economy dedicated to speedups and wage cuts, to making workers produce more and more for less and less, is always in danger of a crash. To maximize profits, wages must be kept down. But someone has to buy the goods and services being produced. For that, wages must be kept up. There is a chronic tendency—as we are seeing today—toward overproduction of private sector goods and services and underconsumption of necessities by the working populace. 
  • Instead of trying to make money by the arduous task of producing and marketing goods and services, the marauders tap directly into the money streams of the economy itself. During the 1990s we witnessed the collapse of an entire economy in Argentina when unchecked free marketeers stripped enterprises, pocketed vast sums, and left the country’s productive capacity in shambles. The Argentine state, gorged on a heavy diet of free-market ideology, faltered in its function of saving capitalism from the capitalists.
  • These thieves were caught and convicted. Does that not show capitalism’s self-correcting capacity? Not really. The prosecution of such malfeasance— in any case coming too late—was a product of democracy’s accountability and transparency, not capitalism’s. Of itself the free market is an amoral system, with no strictures save caveat emptor.
  • Perhaps the premiere brigand was Bernard Madoff. Described as “a longstanding leader in the financial services industry,” Madoff ran a fraudulent fund that raked in $50 billion from wealthy investors, paying them back “with money that wasn’t there,” as he himself put it. The plutocracy devours its own children.
  • The classic laissez-faire theory is even more preposterous than Greenspan made it.  In fact, the theory claims that everyone should pursue their own selfish interests without restraint.
  • Capitalism breeds the venal perpetrators, and rewards the most unscrupulous among them.  The crimes and crises are not irrational departures from a rational system, but the converse: they are the rational outcomes of a basically irrational and amoral system.
  • Worse still, the ensuing multi-billion dollar government bailouts are themselves being turned into an opportunity for pillage. Not only does the state fail to regulate, it becomes itself a source of plunder, pulling vast sums from the federal money machine, leaving the taxpayers to bleed.
  • But the 2008-09 “rescue operation” offered a record feed at the public trough. More than $350 billion was dished out by a right-wing lame-duck Secretary of the Treasury to the biggest banks and financial houses without oversight--not to mention the more than $4 trillion that has come from the Federal Reserve.  Most of the banks, including JPMorgan Chase and Bank of New York Mellon, stated that they had no intention of letting anyone know where the money was going.
  • In sum, free-market corporate capitalism is by its nature a disaster waiting to happen.
  • If the paladins of Corporate America want to know what really threatens “our way of life,” it is their way of life, their boundless way of pilfering their own system, destroying the very foundation on which they stand, the very community on which they so lavishly feed.
thinkahol *

Sounds of Resistance are Growing Join Americans Fed Up With Big Finance Americans Acr... - 0 views

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    Are you tired of big banks making record profits, paying giant executive salaries and bonuses and then cooking the books so they avoid paying taxes?  We are.  And, we are responding.  Join us.On April 15 in Union Square Park in New York City at 11:00 AM we are holding a "Sounds of Resistance Concert" and protest against the big corporate banks that have undermined the U.S. economy and displaced families from their homes. Big Finance has taken more than a trillion from the Department of Treasury and Federal Reserve to pay for their casino gambling on Wall Street but they are still forcing people out of their homes, not lending to small businesses and choking the economy.The concert will feature political hip-hop/rock powerhouse Junkyard Empire with special guests Broadcast Live and Sketch the Cataclysm. Chris Hedges will speak about the growing culture of resistance. Other performers and speakers are invited.The protest will include a picket of the Union Square Bank of America - a major culprit in the great rip off of the American taxpayer.This concert and protest are part of the effort to build the urgently needed movement to shift power to the people and away from concentrated capital interests.                                        
thinkahol *

America's Shadow Budget - 0 views

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    Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?
thinkahol *

House Bill Means Fewer Children in Head Start, Less Help for Students to Attend College... - 0 views

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    Some 157,000 at-risk children up to age 5 could lose education, health, nutrition, and other services under Head Start, while funds for Pell Grants that help students go to college would fall by nearly 25 percent, under a bill passed by the House that would cut current-year non-security discretionary funding by an average of 14.3 percent.  The bill (H.R.1), which would fund the government for the rest of fiscal year 2011, now must be considered by the Senate. [1] H.R. 1 also would kill a program that helps low-income families weatherize their homes and permanently reduce their home energy bills, cut federal funds for employment and training services for jobless workers and for clean water and safe drinking water by more than half, and raise the risk that the WIC nutrition program may not be able to serve all eligible low-income women, infants, and children under age 5.  In addition, it would cut funds for the Centers for Disease Control and Prevention by 10 percent, for the Food and Drug Administration by 10 percent, and for the Food Safety and Inspection Service by 9 percent. The House bill does not apply its overall 14.3 percent cut on an across-the-board basis.  Some cuts, such as the 6.0 percent reduction in funding for House of Representatives staff salaries and expenses, would be smaller.  But many important programs, including some of the ones listed above, would be cut much more to make up the difference.  (The table on the next page shows the average size of the cut for programs within the jurisdiction of each subcommittee.) At the same time, H.R. 1 would increase overall funding for security programs (those funded by the Defense, Homeland Security, and Military Construction-Veterans Affairs appropriation bills) by a little less than 1 percent. Also, the 14.3 percent figure is a bit deceiving.  To achieve that level of overall cuts for non-security programs for the entirety of 2011, funding for those programs will have to fall on average by nearly one
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 *

The Republican Plan With Lipstick - 0 views

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    Republicans figure that if they can't sell the pig, they'll just put lipstick on it and find some suckers who will think it's something else. That's the proposal emerging in the Senate from Republican Bob Corker of Tennessee and also Democrat Claire McCaskill of Missouri. It would get the deficit down not by raising taxes on the rich but by capping federal spending. If Congress failed to stay under the cap, the budget would be automatically cut. According to an analysis by the Center on Budget and Policy Priorities, the McCaskill/Corker plan would require $800 billion of cuts in 2022 alone. That's the equivalent of eliminating Medicare entirely, or the entire Department of Defense.
thinkahol *

October2011.org | "Stop the Machine! * Create a New World!" - 0 views

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    October 2011 is the 10th anniversary of the invasion of Afghanistan and the beginning of the 2012 federal austerity budget. It is time to light the spark that sets off a true democratic, nonviolent transition to a world in which people are freed to create just and sustainable solutions. Read more.
thinkahol *

Elizabeth Warren: A Real Probe Needed on Foreclosure Abuses - 0 views

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    top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuses and "illegal" foreclosures perpetrated by the nation's largest mortgage companies, marking the first time a senior White House official publicly broke ranks with the administration over the issue and raising fresh questions about the wisdom of the government's rush to settle with the firms.
thinkahol *

Obama, Democrats Open to Medicare Cuts - 0 views

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    Obama administration officials are offering to cut tens of billions of dollars from Medicare and Medicaid in negotiations to reduce the federal budget deficit, but the depth of the cuts depends on whether Republicans are willing to accept any increases in tax revenues.' Robert Pear, The New York Tim
thinkahol *

Five myths about the debt ceiling - The Washington Post - 0 views

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    In recent months, the federal debt ceiling - last increased in February 2010 and now standing at $14.3 trillion - has become a matter of national debate and political hysteria. The ceiling must be raised by Aug. 2, Treasury says, or the government will run out of cash. Congressional Republicans counter that they won't raise the debt limit unless Democrats agree to large budget cuts with no tax increases. President Obama insists that closing tax loopholes must be part of the package. Whom and what to believe in the great debt-limit debate? Here are some misconceptions that get to the heart of the battle.
thinkahol *

Can the Fed Prevent the Next Crisis by Eliminating Interest on Student Loan Debt? | Tru... - 0 views

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    Among the demands of the Wall Street protesters is student debt forgiveness - a debt "jubilee." Occupy Philly has a "Student Loan Jubilee Working Group," and other groups are studying the issue. Commentators say debt forgiveness is impossible. Who would foot the bill? But there is one deep pocket that could pull it off - the Federal Reserve. In its first quantitative easing program (QE1), the Fed removed $1.3 trillion in toxic assets from the books of Wall Street banks. For QE4, it could remove $1 trillion in toxic debt from the backs of millions of students.
thinkahol *

Glenn Greenwald On "America's Lawless Elite" | On Point with Tom Ashbrook - 0 views

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    Glenn Greenwald studied law and spent ten years as a litigator in federal and state courts across the country. Now he's a big two-fisted progressive blogger and columnist for Salon.com. And he's out with a blistering critique of what has happened to American law. We've stopped applying it to everyone, says Greenwald. We've carved out an exemption for Americans in the halls of power. We've created what Greenwald calls a "lawless elite" that is running roughshod over our economy and national policy. Over American law. This hour On Point: Glenn Greenwald, and liberty and justice for some.
Worden Report

Should Iceland be a state in the E.U.? - 0 views

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    What should Icelanders consider in making their decision?
Konstantinos

Democracy versus Republic? - 0 views

We live in a republic (a group of states that are self governing under the umbrella of a centralized or federal government). The type of system we employ is a representative form of democracy (mean...

democracy republic distinction

started by Konstantinos on 30 Jul 12 no follow-up yet
Bakari Chavanu

Michael Moore Kills Capitalism with Kool-Aid - Michael W. Covel - Mises Institute - 0 views

  • Oh sure, in theory I would like to see everyone with their own homestead, money in their pocket for regular shopping frenzies, and no health worries despite eating at Burger King 24/7, but arriving at those goals is not exactly doable unless government robs Peter to pay Paul and/or starts up the printing press.
    • Bakari Chavanu
       
      This analysis totally overlooks where real wealth originates from: not from dollars printed by the government or even the redistribution of taxes. It originates from what working class people produce, and what capialist thugs mainly profit off of.
  • And that view of course puts me in opposition to Moore since he has no problem with government as his and our father figure. That is his utopia. He truly believes that warehouses of federal workers, in Washington, D.C., remotely running our lives is the optimal plan. He is an unapologetic socialist who really doesn't care why the poor are poor or the rich are rich, he just wants it fixed. So not surprisingly — and with some generalization as I proffer this — Democrats like Moore and Republicans don't.
    • Bakari Chavanu
       
      This is not the point he made in the movie. He makes the argument that workers should control and profite from what they produce.
  • I don't care one way or the other that he has that view and I am not knocking union workers, but Moore sees the world through a class-warfare lens resulting in a certain agenda: force wealth to be spread amongst everyone regardless of effort.
    • Bakari Chavanu
       
      So you think it's perfectly okay for individuals to have a net worth of millions and billions of dollars while the people who produce the wealth should not profit from their work?
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  • We listen to heartbreaking stories of foreclosed families across America — but we don't learn why the foreclosures happened. Did these people treat their homes as piggy banks? Was there refinancing on top of refinancing just to keep buying mall trinkets and other goodies with no respect to risk or logic? We don't find out.
    • Bakari Chavanu
       
      Yes, we do learn the source of foreclosures. It's banks raising interest rates that people can't possibly pay. It's people making huge amounts of money off the misfortunes of others.
  • $1,000 for cleaning out the house that they were just evicted from. Was it sad? Yes. But should we end capitalism due to this one family in Peoria, IL?
    • Bakari Chavanu
       
      He presents this as represenetive example.
  • This film did not make me angry, but it did punch me in the gut. The people in that theater with me, including Moore, were not bad people. They just seem to all have consumed a lethal dose of Kool-Aid.
    • Bakari Chavanu
       
      What Kool-aid are you talking about? What other system is really challenging capitalism? Not even the government is the real kool-aid when you've already noted that it works on behalf of the corporate class.
  • As FDR concluded and the film ended, I was shocked at the reaction. The theater of 400-plus spectators stood and cheered wildly at FDR's 1944 proposal. The questions running through my head were immediate: how does one legislate words like useful, enough, recreation, adequate, decent, and good? Who decides all of this and to what degree?
  • So that the record of history is absolutely crystal clear: that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
  • Friedman's logic was what I was remembering as a theater full of people cheered wildly for a second Bill of Rights. How did this film crowd actually think FDR's 1944 vision could be executed? Frankly, it was clear to me at that moment that capitalism is on shaky ground. From Bush "abandoning" capitalism to bailouts for everyone, to Obama gifting away the future, we seriously might be past the point of no return toward a socialization of America.
  • There is a lengthy dissertation on the evils of Goldman Sachs. He rips Robert Rubin and Hank Paulson big time, and I agree with him. In fact, I said to myself, "Moore, you should have done your whole film on Goldman Sachs!"
  • Moore sees Reagan entering the scene as a shill for corporate-banking interests.
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    I include my reacations to this review in which I think Covel misleads readers about Moore's movie.
Frank Schreiber

Supreme Court Decisions - 1 views

The Supreme Court is currently hearing arguments on " Citizens United V. Federal Elections Commission", and their decision if made as predicted is about to change politics as we know it, by allowin...

Supreme-Court Fair-Elections Multinational-Corporations

started by Frank Schreiber on 18 Sep 09 no follow-up yet
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