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W?SB! - David Suzuki Interviewed at Occupy Montreal - YouTube - 0 views

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    Why? Simply Because scores an impromptu interview with known social activist David Suzuki on the first day of the Occupy Montreal movement. This protest was a satellite protest to Occupy Wall Street. Follow the movement at #occupywallStreet -  Thanks to Jobbook for the great help on the interview! http://www.whysimplybecause.com
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Parsing the Data and Ideology of the We Are 99% Tumblr | Rortybomb - 0 views

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    One of the most fascinating things to come out of the current We Are 99%/Occupy Wall Street protests is the We Are 99% Tumblr.  At the site, people hold up signs that explain their current circumstances, and it tells the story of a whole range of Americans struggling in the Lesser Depression.  It is highly recommended. DATA The site features pictures of individuals holding their signs, and occasionally the tumblr reproduces the text of the signs themselves underneath the image as html text.  Sometimes the text under the image is blank, sometimes it is a different message, but often it is the sign itself. In order to get a slightly better empirical handle on this important tumblr, I created a script designed to read all of the pages and parse out the html text on the site.  It doesn't read the images (can anyone in the audience automate calls to an OCR?), just the html text.  After collecting all the text on all the pages, the code then goes through it to try to find interesting points. It's a fun exercise, pointing out things I wouldn't have seen otherwise.  For instance, I found this adorable little rascal, pictured below, mucking up the algorithm, as the first version of the code assumed all the ages would have two digits.  I found that he, and the sign his mom made for him as a confessional to her son, hit me a ton harder than any of the more direct signs of despair in this economy:
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FDL Book Salon Welcomes Lawrence Lessig, Republic, Lost: A Declaration for Independence... - 0 views

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    If, as Lessig conclusively demonstrates, Congress is indifferent to the will of the people and to democratic debate - because it has been captured by monied interests to whose interests it exclusively attends - then the people lose the ability to affect what government does in any realm. It doesn't make much difference which problem you believe is most pressing: this is the dynamic that lies at the heart of it. Inaction on climate issues is due to the power of polluters and energy companies; the power of the private health insurance industry blocks fundamental health-care reform; endless war and civil liberties abuses are sustained by the power of the surveillance and National Security State industries; and a failure to achieve real Wall Street reform is due to the fact that, as Sen. Dick Durbin amazingly acknowledged about the institution in which he serves, "the banks frankly own the place." Without finding an effective way to address that overarching problem, the only recourse for citizens becomes either passive acceptance of their powerlessness (i.e., apathy and withdrawal) or disruption and unrest fomented outside of the electoral system (the driving ethos of OccupyWallStreet).
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HOLY BAILOUT - Federal Reserve Now Backstopping $75 Trillion Of Bank Of Ameri... - 0 views

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    This story from Bloomberg just hit the wires this morning.  Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan.  Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.
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Johann Hari: How Goldman gambled on starvation - Johann Hari, Commentators - The Indepe... - 0 views

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    By now, you probably think your opinion of Goldman Sachs and its swarm of Wall Street allies has rock-bottomed at raw loathing. You're wrong. There's more. It turns out that the most destructive of all their recent acts has barely been discussed at all. Here's the rest. This is the story of how some of the richest people in the world - Goldman, Deutsche Bank, the traders at Merrill Lynch, and more - have caused the starvation of some of the poorest people in the world. It starts with an apparent mystery. At the end of 2006, food prices across the world started to rise, suddenly and stratospherically. Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by 320 per cent. In a global jolt of hunger, 200 million people - mostly children - couldn't afford to get food any more, and sank into malnutrition or starvation. There were riots in more than 30 countries, and at least one government was violently overthrown. Then, in spring 2008, prices just as mysteriously fell back to their previous level. Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it "a silent mass murder", entirely due to "man-made actions."
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Glenn Greenwald: With Liberty and Justice for Some | Dylan Ratigan - 0 views

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    How did America come to accept having two classes of citizens?  When did America give up on the dream of fairness for all? Last night after the television show, I got the chance to sit down with Glenn Greenwald to discuss his new book, With Liberty and Justice for Some: How the Law is Used to Destroy Equality and Protect the Powerful. Unfairness in America is nothing new.  In fact, it is perfectly acceptable in this culture for us to admire those who we see as becoming successful and powerful by creating value.  At the same time, Americans accept unfairness with one explicit caveat: that each of us has the chance to be one of those people - that each of us has the opportunity to become successful. What Americans are rejecting now is not wealth disparity, but the corrupt and unethical way so much of the money in this country is now being made, with our government, more often than not, simply looking the other way. Well, Americans are saying "no more" to our government explicitly agreeing to legalize and codify that destructive behavior, protecting powerful political and financial elites while prosecuting ordinary Americans over trivial offenses. We are beginning to see a rejection of this unfairness at Occupy Wall Street and other national reform-based movements.  
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Battle for the Heart of the Occupy Movement - 0 views

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    Center for a Stateless Society Media Coordinator Tom Knapp, summarizing his experience with the Occupy St. Louis movement, reported a movement "with an ideological center of gravity somewhere in the neighborhood of 'mild reform Democrat.'"  Most of the people there, apparently, were basically Coffee Party people with better signs and slogans. They're probably not representative of the nationwide Occupy Together movement - the vibe coming from Occupy Wall Street, at least, is a lot more like Seattle. But there really is a contradiction in the movement between those who see it as part of a larger process of creating a new kind of society, and those who see it primarily as a source of pressure on the state to revive the New Deal or Social Democratic model.
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Tomgram: Glenn Greenwald, How the Rich Subverted the Legal System | TomDispatch - 0 views

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    As intense protests spawned by Occupy Wall Street continue to grow, it is worth asking: Why now? The answer is not obvious. After all, severe income and wealth inequality have long plagued the United States. In fact, it could reasonably be claimed that this form of inequality is part of the design of the American founding -- indeed, an integral part of it.
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Crony Capitalism Comes Home - NYTimes.com - 0 views

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    So, yes, we face a threat to our capitalist system. But it's not coming from half-naked anarchists manning the barricades at Occupy Wall Street protests. Rather, it comes from pinstriped apologists for a financial system that glides along without enough of the discipline of failure and that produces soaring inequality, socialist bank bailouts and unaccountable executives. It's time to take the crony out of capitalism, right here at home.
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Robert Reich: David Brooks is Dead Wrong About Inequality | Alternet - 0 views

  • Such is the case with his New York Times  column last Friday, arguing that we should be focusing on the “interrelated social problems of the poor” rather than on inequality, and that the two are fundamentally distinct.
    • Bakari Chavanu
       
      It's the old blame the poor argument.
  • Once the middle class has exhausted all its coping mechanisms – wives and mothers surging into paid work (as they did in the 1970s and 1980s), longer working hours (which characterized the 1990s), and deep indebtedness (2002 to 2008) – the inevitable result is fewer jobs and slow growth, as we continue to experience.
  • Third, America’s shrinking middle class also hobbles upward mobility. Not only is there less money for good schools, job training, and social services, but the poor face a more difficult challenge moving upward because the income ladder is far longer than it used to be, and its middle rungs have disappeared.
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  • o the contrary, as wealth has accumulated at the top, Washington has reduced taxes on the wealthy, expanded tax loopholes that disproportionately benefit the rich, deregulated Wall Street, and provided ever larger subsidies, bailouts, and tax breaks for large corporations. The only things that have trickled down to the middle and poor besides fewer jobs and smaller paychecks are public services that are increasingly inadequate because they’re starved for money.
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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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Today's Must-See Animated Capitalist Takedown from RSA and David Harvey | The New York ... - 0 views

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    If you watch just one funny and handsome Marxist critique of the financial crisis, make it the Royal Society for the Encouragement of Arts, Manufactures and Commerce's animated version of David Harvey's RSA speech "Crises of Capitalism." It's been making the rounds this afternoon, and for good reason: Mr. Harvey, a Marxist scholar who heads CUNY's Center for Place, Culture & Politics, describes not just the failures that caused the ongoing fiasco, but the failure of how we've explained it.
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Open proposal to US higher education: end oligarchy economics, save trillions with educ... - 0 views

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    Economics: I'm going to discuss trillions of dollars in a moment. As an economics teacher, I understand numbers this large are extremely difficult to imagine. If you are among the majority with this difficulty, I recommend that you follow the expert testimony that paints the picture, and know that success in this area of public education transformation that unleashes trillions of our dollars for human creative capacity in unimaginable power is sufficient to end the current economic crisis. This is the longest section of my briefing. If you tire in reading, please consider that at trillions of dollars of annual public benefits, you literally have nothing more valuable to do than understand the following facts and ideas. Harvard's Linda Bilmes co-authored a paper with Nobel Prize winner Joseph Stiglitz estimating the long-term costs of current US wars at now $3 to $5 trillion ($30-$50,000 per US household of $50,000/year income), with total debt increase since 2001 of over $10 trillion. Remember, as demonstrated by the evidence disclosed by our own government, all the reasons Americans were told to go to war were known to be lies as they were told and applicable law proves these wars Orwellian unlawful. Just down the Charles River from Harvard, MIT's Simon Johnson (and former Chief Economist of the International Monetary Fund) describes our economy being lead by gambling oligarchs who have captured government as in banana republics (his words), and might plunge the US into an economy worse than the Great Depression. From his article under the telling title, The Quiet Coup: "Elite business interests-financiers, in the case of the U.S.-played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The govern
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toledoblade.com -- - 0 views

  • He believes our economic system has lost its way after decades of perversion by greedy politicians in Washington and money-minded fatcats on Wall Street and in corporate America.
  • And as the great American dream slipped further from the middle class, more consumers relied on credit cards and loans to catch it, and a system based on people buying what they need became one in which people buy what they want but often cannot afford.
  • Perhaps the film's most powerful statement is Moore's claim that 1 percent of the richest Americans own 95 percent of our nation's wealth.
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  • Capitalism: A Love Story contends that such a movement has already begun. Families being evicted from their homes by bank foreclosures refuse to leave, the film shows, even when law enforcement shows up. A successful workers' strike in Chicago proved that the power to overcome corporate greed and mishandling still rests with the people.
    • Bakari Chavanu
       
      This may be a hopeful way to look at it, but I really doubt it. Most people don't have a clue about what to do. There's very little or effective organized resistance.
  • The film isn't so much Moore piling on our battered, bruised capitalism as it is loaded commentary on what got us here. The evidence is damning, and thought-provoking to those who will give the film a chance.
  • Perhaps Capitalism: A Love Story will be the impetus we need for wholesale change. Or if change is too ambitious, given our circumstances, the film should at least spark meaningful dialogue and rigorous debate, something Moore supporters and detractors alike should welcome.
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Amazon.com: Tear Down This Myth: How the Reagan Legacy Has Distorted Our Politics and H... - 0 views

  • Two books have been recently published which attempt to present an alternative perspective on the Reagan presidency. One, William Kleinecht's The Man Who Sold the World: Ronald Reagan and the Betrayal of Main Street America, is revisionist polemic and does more to enrage than enlighten. Will Bunch's Tear Down this Myth, however, is a fair and balanced (to borrow a phrase popular with right-wingers) look at the Reagan presidency. Far from polemic, and often complimentary to President Reagan, Bunch attempts to reveal the presidency of Ronald Reagan as it was experienced by those during the era. Many of the negative reviews appearing on Amazon are obviously written by those who didn't read the book. As I've said before, Amazon needs to look more carefully at reviews before publishing them. This is not a chat board.
  • But Reagan made mistakes which have been glossed over: including the stationing of Marines in Lebanon and providing aid to Saddam Hussein. The Iran-Contra scandal, which nearly sank his presidency, has been almost forgotten. And the spiraling deficits of the 1980s (repeated 20 years later) proved that the Laffer Curve, which was the cornerstone of Reaganomics, had no basis in actual fact.
  • Bunch reminds us that Reagan was not particularly popular during most of his presidency, and that many Americans had good reason to wonder whether the country was in competent hands. Bunch runs over the Iran-Contra scandal, which came close to ending up in Reagan's impeachment. Far from being a thrifty government downsizer, he added $2 trillion to the national debt and grew the government. Bunch also reminds us that Reagan was the original "cut and run" artist, pulling US troops out of a failed mission in Lebanon within weeks after 241 Marines were killed there in a terrorist attack. We are reminded that Reagan's overtures to Iran to free hostages only resulted in more Americans being taken, and that his economic plans sowed the seeds of deregulation and greed that we are still reaping.
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  • We also see Reagan, the man who hated committing troops to war, who was a pragmatist economist who raised taxes when his trickle down theories did not working and whose personal diplomacy with the Soviets came close to riding the world of nuclear weapons.
  • I personally have long thought that the invasion of tiny Grenada, coming close on the heels of the Marine barracks disaster, was meant to distract the public from Reagan's ineptitude.
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Gay bar to be built next to Ground Zero mosque (Video) - 3 views

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    In the name of bridging great divides and of fostering peace and harmony, a proposal has been made to open a gay bar in the commercial space next to Cordoba House.
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    The grand mosque of Cordoba was built as a monument to the conquest of Spain. By naming this as Project Cordoba are we being told that this mosque is to be the monument to the impending conquest of America? In the name of building bridges and tolerance, should a Knights Templar monastery be built across the street from this mosque?
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Ground Zero mosque developer Shaif el-Gamal on NBC "People of the Year" (Video) - 0 views

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    NBC has Sharif el-Gama as one of it's People of the Year. The developer of the proposed mosque at Ground Zero is lobbed softball questions by Matt Lauer and you can watch a video clip preview.
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Joseph A. Palermo: Defeating the Bailout Looks Like Another Republican Ploy - 0 views

  • House Republican leaders did not put much pressure on their rank-and-file members to back the rescue package." John Boehner, Roy Blunt and other "leaders" of the House Republicans thought they could strike a public pose as if they really cared about the credit seizure that looms over the country while secretly hoping to pin the bill's passage on Nancy Pelosi, Steny Hoyer, (and by association, Barack Obama).
  • They wanted Speaker Pelosi to pass the bill without much Republican cover so they could tell their constituents that the Democrats were just "picking the taxpayers' pockets again."
  • I agree with the critical flaws in the bill that Dennis Kucinich articulated this morning on Amy Goodman's show, Democracy Now! I don't believe in a government welfare program for Wall Street swindlers who had the audacity to pump up the paper value of one of their hidden, unregulated derivatives, "credit default swaps," from $631 billion in 2001 to $62 trillion in 2008! I think some people should be indicted; some people should go to jail.
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  • Whenever you hear the word "bi-partisan," even during the waning hours of the Bush years, it usually means something very bad is about to happen.
  • All of a sudden I hear Bush Administration mouthpieces such as the billionaire Henry Paulson, who in the past have told us that we are all on our own and we shouldn't rely on government for anything, speak about "our" financial markets as if working people have been the ones swapping "collateralized debt obligations" and "hybrid debt instruments."
  • It is my hope we can seize the opportunity this crisis presents, hold President Obama's feet to the fire, and construct a new social compact in this country, a New New Deal.
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