Capitalism

What Will It Take To End The Billionaire Bailout Society?

March 18, 2023 Les Leopold, Common Dreams. Educate! Banking Crisis, Capitalism, Class Struggle, Finance and the Economy

In case we need any more proof, the bailout of the Silicon Valley Bank (SVB) is yet another overt sign that we are operating within a new version of capitalism. The wealthiest among us have little fear of losing money from their most important financial investments. They know they will be bailed out, and the rest of us will pick up the tab. The crisis at SVB has made a mockery of bank deposit insurance and private banking. In the US, bank deposits are insured up to $250,000. If the bank fails, those with accounts below that amount are fully protected. But deposits over that amount are not. The reason is straightforward.

Individual And Collective Steps Towards A Post-Patriarchal Life

March 11, 2023 Miki Kashtan, Resilience. Create! Capitalism, Feminism, Gift economy, Patriarchy

When we are in the grip of patriarchal systems and conditioning, our vision is stunted and replaced, all too often, with the belief inculcated in us that there is no alternative or that what we have is the best option even if it’s flawed. In defiance of this, we can embrace the radical possibility of shifting from the patriarchal social order built on scarcity, separation, and powerlessness to living, again, in alignment with life’s flow. I offer, here, a feminist vision of a global maternal gift economy and describe pathways to moving towards it from exactly where we currently are, both collectively and individually.

The Railroad Industry Loved Modern Brakes And Safety, Until They Didn’t

March 9, 2023 Justin Mikulka, DeSmog. Educate! Capitalism, Disaster, Railroads, Workplace Safety

National Transportation Safety Board (NTSB) chair Jennifer Homendy concluded that the East Palestine, Ohio, rail disaster was “100% preventable.” The certainty of this statement raises the obvious question: Why did this happen? The answer was actually provided by one of Homendy’s predecessors at the NTSB. In 2014, speaking about the spate of oil train disasters that were occuring, NTSB chair Deborah Hersman told the Associated Press that, “We know the steps that will prevent or mitigate these accidents. What is missing is the will to require people to do so.” The NTSB has no enforcement capability, so its recommendations are often ignored by the rail industry.

House’s ‘Horrors Of Socialism’ Resolution Spurred By Capitalist’s Fear

February 28, 2023 Michael Steven Smith, The Indypendent. Educate! Capitalism, Democrats, Republicans, Socialism

On Feb. 3 the newly-elected House of Representatives passed a resolution denouncing “the horrors of Socialism“ and opposed “the implementation of socialist policies“ in the United States. The resolution was discussed for several days. Rep. Maria Elvira Salazar of Florida, the Republican sponsor of the bill, said “it is a lie that socialism will solve your problems, economic or social…We cannot let this evil ideology take hold in this country.” She went on to say that “we are in the United States the stronghold of freedom. That is why we must pass this resolution.” The resolution passed 328 to 86 with a majority of the Democrats joining the Republicans.

To End War, We Must Fight Against Racism And Capitalism

February 27, 2023 Margaret Flowers, Clearing the FOG. Podcast - Clearing The FOG Capitalism, Human Rights, Racism, Ukraine

On March 18, the twentieth anniversary of the US/NATO invasion of Iraq, major antiwar organizations and social movements from across the United States will rally in Washington, DC to demand an end to wars and austerity. Clearing the FOG speaks with Jacqueline Luqman of the Black Alliance for Peace about the current state of the antiwar movement in the US and the long history of opposition to war within the black radical tradition. Luqman explains why it is critical to understand that struggles against racism and capitalism and for people's-centered human rights are inseparable from the work to end wars and the risks of granting legitimacy to organizations that are obstacles to that work.

Electric Utilities Created One Of The ‘Largest’ Propaganda Campaigns In US

February 26, 2023 Steve Horn, DeSmog. Educate! Book Review, Capitalism, Child labor, Finance and the Economy, Propaganda, Utilities

Science historians Naomi Oreskes and Erik M. Conway, authors of the classic 2010 book Merchants of Doubt: How a Handful of Scientists Obscured the Truth on Issues from Tobacco Smoke to Global Warming, have released a new book placing that doubt machine into a longer arc of U.S. business and political history. The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market explores an even more ambitious history dating from the dawn of the 20th century to the present day. The book documents how today’s prevailing anti-regulatory and anti-government postures that deride Big Government and cheer for Big Business did not arise simply from grassroots demands.

The Dawn Of Austerity

February 19, 2023 Nick Serpe, Dissent Magazine. Educate! Austerity, Capitalism, Class Struggle, Finance and the Economy, Worker Rights and Jobs

In The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism, Clara E. Mattei brings us back to the dawn of modern austerity politics, just after the First World War. In both liberal Great Britain and fascist Italy, she argues, austerity imposed steep costs in the short term but in the long term proved beneficial to capital. By forcing the working class to rely on the private labor market for survival, austerity ensured the survival of the wage relationship at a moment of anti-capitalist upheaval. In our current moment, as policymakers are once again entertaining monetary tightening as a means to impose necessary hardship and discipline on working people, The Capital Order is a potent reminder of the cruel rationality of austerity: maintaining stable class relations is worth the price of the economic pain austerity causes.

The Caribbean Connection: Jeffrey Epstein And JP Morgan Chase

February 16, 2023 Thad Baltimore, Black Agenda Report Resist! Banks, Capitalism, Caribbean, Jeffrey Epstein, JP Morgan Chase, Sex Trafficking

With convicted sex-trafficker Jeffrey Epstein out of the way and his co-conspirator, Ghislaine Maxwell, on ice for 20 years, the mainstream media gets to do its favorite trick; ignoring, burying or otherwise memory-holing stories the ruling class doesn’t like. With convicted sex-trafficker Jeffrey Epstein out of the way and his co-conspirator, Ghislaine Maxwell, on ice for 20 years, the mainstream media gets to do its favorite trick; ignoring, burying or otherwise memory-holing stories the ruling class doesn’t like. Considering the laundry list of prominent men linked to Epstein, no one else has been held to account for what is arguably the largest sex-trafficking case of the decade.

Valentine’s Day: Look To Marxists To Reimagine Love, Romance And Sex

February 14, 2023 Sarah Jaffe, In These Times. Educate! Capitalism, Gramsci, Marxism, Valentines Day

Italian Communist Antonio Gramsci has been quoted quite a lot in recent years amid our various political catastrophes from Trump to Covid-19 to climate collapse and the political center’s seeming inability to resist any of the above. The most famous line from his Prison Notebooks, written between 1929 and 1935 while a political prisoner of the Mussolini regime, is probably: “The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.” This is sometimes more loosely translated as “The old world is dying and the new cannot be born; now is the time of monsters.”

Sy Hersh And The Way We Live Now

February 11, 2023 Craig Murray, Consortium News. Educate! Capitalism, Free Speech and Assembly, Nordstream pipeline, Propaganda

It is a clear indicator of the disappearance of freedom from our so-called Western democracies that Sy Hersh, arguably the greatest living journalist, cannot get this monumental revelation on the front of The Washington Post or The New York Times, but has to self-publish on the net. Hersh tells the story of the U.S. destruction of the Nordstream pipelines in forensic detail, giving dates, times, method and military units involved. He also outlines the importance of the Norwegian armed forces working alongside the U.S. Navy in the operation. One point Sy does not much stress, but it is worth saying more about, is that Norway and the U.S. are of course the two countries that have benefitted financially, to an enormous degree, from blowing up the pipeline. Not only have both gained huge export surpluses from the jump in gas prices, Norway has directly replaced Russian gas to the tune of some $40 billion per year.

Biden’s Populist Speech Can’t Cover Up Capitalist Crisis

February 9, 2023 Tatiana Cozzarelli and Madeleine Freeman, Left Voice. Educate! Capitalism, Class Struggle, Joe Biden, State Of The Union

President Biden gave his second State of the Union address on Tuesday, marking the halfway point of his first presidential term. The speech was characterized by enthusiasm for the economy, populist rhetoric, and bipartisanship. But Biden’s sunny characterization of his administration’s achievements and plans painted a picture of the United States that doesn’t reflect the reality of hundreds of millions of working and poor people. It didn’t reflect the deep structural crisis his administration is trying desperately to stabilize — a crisis whose symptoms include a shaky economy, increased geopolitical tensions, and a radical Far Right that is throwing its weight around in a polarized country where many feel increasingly unrepresented. Biden tried to paint a picture of a United States that has come back stronger after the pandemic, but despite his populist rhetoric and laundry list of policies, none of these measures can address the real needs of the vast majority of the working class and poor who have been exploited and oppressed for much longer than the last two years.

The State Murder Of Tortuguita And Tyre Nichols Are Inextricably Linked

February 6, 2023 Black Alliance for Peace. Educate! Atlanta, Capitalism, Class Struggle, Fascism, Georgia, Memphis, Police, police brutality, Tennessee, Tortuguita, Tyre Nichols

The cold-blooded assassination of Manuel Esteban Paez Terán, also known as Tortuguita, Spanish for “Little Turtle,” is a reminder that fascism in the United States cannot be reduced to the political intentions of avowed white nationalists. African/Black and Indigenous people residing in the settler-colonial project known as the United States continue to be subjected to a cycle of state-sanctioned violence and political repression with bipartisan consensus. People of the global majority and their allies must not allow these latest episodes of injustice to go unanswered. The Atlanta City-Wide Alliance of the Black Alliance for Peace (BAP-Atlanta) has been working with a coalition of Indigenous people, African/Black people, other people of color, and Euro-Americans to prevent the construction of “Cop City,” as BAP-Atlanta expressed in a recent statement. The statement highlighted the obvious nexus between the proposed $90 million police-training facility site, where Tortuguita was killed on January 18, and the white supremacy-fueled genocide, militarism, and oppression the U.S. empire exercises both outside and within.

White Supremacy

January 20, 2023 Jemima Pierre, Black Agenda Report. Educate! Capitalism, colonization, Racism, White Supremacy

In recent years, the concept of white supremacy has been associated with extreme racist groups and ultranationalists, as well as high profile acts of associated racial terrorism, particularly in Western countries. Some examples are: the massacre of nine African-American worshippers at Mother Emmanuel AME Church in South Carolina (USA), the violent white nationalist march in Charlottesville, Virginia (USA), the mosque shootings in Christchurch, New Zealand that killed 51 people and injured 49, the Hanau, Germany attack that killed nine people and wounded six others, and the shooting deaths of eleven congregants in a synagogue in Pittsburgh, Pennsylvania (USA), among many others. There has also been a renewed rise of right-wing movements, politicians, and governments who espouse and advocate for ethno-nationalist and white supremacist policies.

Asylum For Sale, Profit And Protest In The Migration Industry

January 19, 2023 Teri Mattson, WTF is Going on in Latin America and the Caribbean. Podcast – WTF is Going on in Latin America & the Caribbean Asylum, Borders, Capitalism, Migration

On the heels of last week’s North America Trilateral Summit, from which not much changed within the migratory system, today’s episode will focus on migration as a for-profit industry which has turned migrating humans into commodities. Our guest Adrienne Pine is co-editor of the book Asylum for Sale: Profit and Protest in the Migration Industry published by PM Press in November 2020. Here is brief description: Through essays, artworks, photographs, infographics, and illustrations, Asylum for Sale: Profit and Protest in the Migration Industry regards the global asylum regime as an industry characterized by profit-making activity: brokers who facilitate border crossings for a fee; contractors and firms that erect walls, fences, and watchtowers while lobbying governments for bigger “security” budgets; corporations running private detention centers and “managing” deportations; private lawyers charging exorbitant fees; “expert” witnesses; and NGO staff establishing careers while placing asylum seekers into new regimes of monitored vulnerability. Humanity is not for sale, and no one is illegal.

The Forgotten Socialist History Of Martin Luther King Jr.

January 16, 2023 Matthew Miles Goodrich, In These Times. Educate! Capitalism, Class Struggle, Martin Luther King Jr, Socialism

In 1952 a 23-year-old Martin Luther King Jr. wrote a love letter to Coretta Scott. Along with coos of affection and apologies for his hasty handwriting, he described his feelings not just toward his future wife, but also toward America’s economic system. “I am much more socialistic in my economic theory than capitalistic,” he admitted to his then-girlfriend, concluding that “capitalism has outlived its usefulness.” King composed these words as a grad student on the tail end of his first year at the Boston University School of Theology. And far from representing just the utopianism of youth, the views expressed in the letter would go on to inform King’s economic vision throughout his life. As Americans honor King on his birthday, it is important to remember that the civil rights icon was also a democratic socialist, committed to building a broad movement to overcome the failings of capitalism and achieve both racial and economic equality for all people.

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