Capitalism

How Politicians Are Papering Over Social Problems Caused By Capitalism

January 30, 2022 Richard D. Wolff, Independent Media Institute. Educate! Capitalism, Media, Propaganda, US Imperialism

The declines of U.S. capitalism and of its imperial position provoke fear among its mainstream politicians. Their response, in large part, has been to deny that any such decline is happening. These politicians do this partly by acting as though the U.S. remains in the globally dominant position it occupied in the second half of the 20th century. Thus, to maintain this illusion, they start wars in the Middle East, maintain military bases in dozens of countries, intervene in other countries at will and describe the U.S. as the global guarantor of peace, security, and democracy. Yet these U.S. politicians also sense what the population feels: that decline of capitalism and U.S. hegemony is actually happening. So repeated denials, while comforting the citizens of the country, do not suffice to control popular opinion and thereby common sense.

Financial Superbubble Meets Political Dystopia

January 29, 2022 Hamilton Nolan, In These Times. Educate! Bubble, Capitalism, Economic crisis, Finance and the Economy

Because only fools believe they can predict the short-term fluctuations of the economy, let’s follow in the style of Descartes and just retreat to the most basic possible prediction that we are certain will come true. Which is: The current boom in asset prices — high prices not just in one asset, but in stocks, financial assets, real estate, luxury goods, crypto, NFTs and any other hastily invented place where money can flow — will come to an end. Whether that end comes tomorrow or in six months or in a year or in five years is impossible to know for sure, but we do know that the economy moves in cycles, and the current cycle is (very far) on the upside. And what goes up will, inevitably, come down.

On Contact: Corporate Assault On US Postal Service

January 23, 2022 Chris Hedges, RT. Resistance Report Capitalism, Corporatism, Privatization, USPS

The corporate seizure of public utilities and privatization of schools is part of a broad assault to turn government assets into assets that will swell corporate profit. The post office has been a coveted target for decades. Corporations such as FedEx and UPS have used their lobbyists and campaign contributions to cripple the government postal service in an effort to destroy it and take it over. These corporations engineered a congressional mandate in 2006 that requires the post office to pre-fund the next 75 years of retiree health benefits in one decade. No other federal government agency is required to carry out a similar pre-payment plan, nor is there any actuarial justification for this measure.

Scientists Tell Advertising Industry To End ‘Complicity’ In Climate Crisis

January 23, 2022 Nick Cunningham, DeSmog. Resist! Capitalism, climate crisis, Environment, Media

On Wednesday, a group of more than 450 scientists called on advertising agencies to cut off their fossil fuel clients and to end their ties with an ongoing misinformation campaign that has time and again killed progress on addressing the climate crisis. In a joint letter, the scientists say that they are “consistently faced with a major and needless challenge” of having to correct false information and rebut the fossil fuel industry’s efforts to downplay the severity of climate change. The expensive and glossy ad campaigns “represent one of the biggest barriers to the government action science shows is necessary to mitigate the ongoing climate emergency,” the letter stated. The letter was sent to advertising companies WPP, Edelman, and IPG, as well as some of their clients, including Unilever, Amazon and Microsoft, which all have announced various climate and sustainability pledges.

Capitalists Only ‘Trust The Science’ When It Suits Their Agenda

January 22, 2022 Olivia Wood And B.C. Daurelle, Left Voice. Educate! Capitalism, COVID-19, Joe Biden, Trump

During the Trump presidency, slogans like “Facts Matter” and “#BelieveTheScience” abounded. The idea was that, unlike the outright denial espoused by Republicans, Democrats recognize basic scientific truths about the world, such as the existence of climate change and the dangers of Covid-19. Because they “take science seriously,” it’s implied, Democrats will propose and enact more scientifically-informed policies. It’s been a year since Joe Biden took office on the promise that his respect for science would manifest in more rational policy solutions. So, now is a good time to ask: how’s that going? “Follow the science” was an effective campaign slogan during the Trump years, but it was only ever a slogan. On September 20, 2020, Joe Biden tweeted, “Unlike Trump, I’ll listen to the experts and heed their advice — especially when it comes to matters of health and safety.”

Corporate Multilateralism Deals More Blows To Right To Health

January 22, 2022 People's Dispatch. Educate! Capitalism, Corporatism, Health Care, World Health Organization

It is no news that transnational corporations have effectively infiltrated institutions such as the United Nations (UN) and the World Health Organization (WHO). Still, according to a new report published by the People’s Working Group on Multistakeholderism (PWGM), their influence has now edged towards a breaking point. The Transnational Institute (TNI), the People’s Health Movement (PHM), Public Services International (PSI), and other organizations members of the working group have warned that surpassing this point will make it even more difficult to reclaim power from corporations, and that will have an effect on all aspects of people’s lives. The original concept of multilateralism refers to the collective responsibility of countries’ governments to collaboratively take decisions important for the future of the world.

America’s New Class War

January 18, 2022 Chris Hedges, Scheer Post. Educate! Capitalism, Class Struggle, Unions, Worker Rights and Jobs

There is one last hope for the United States. It does not lie in the ballot box. It lies in the union organizing and strikes by workers at Amazon, Starbucks, Uber, Lyft, John Deere, Kellogg, the Special Metals plant in Huntington, West Virginia, owned by Berkshire Hathaway, the Northwest Carpenters Union, Kroger, teachers in Chicago, West Virginia, Oklahoma and Arizona, fast-food workers, hundreds of nurses in Worcester, Massachusetts, and the members of the International Alliance of Theatrical Stage Employees.

Freedom To Stay, Freedom To Move: An Interview With Harsha Walia

January 16, 2022 Liam Hough, ROAR Magazine. Create! Capitalism, Immigration, Migrants, Racism

Harsha Walia has been involved in anti-colonial and anti-capitalist migrant justice movements for the past two decades. Her first book, Undoing Border Imperialism, offered a movement analysis of the foundational connections between migration, borders and imperialism, with insights into the grassroots organizing her work comes out of. Building on this, her latest work, Border and Rule offers a crucial resource for going beyond nation-based thinking about border regimes around the world and building an internationalist movement for their abolition. In Border and Rule, Walia avoids comparisons of one border regime or another as “worse” or “better,” focusing on how borders are consistently a “method of capital” involved in seizing and holding territory and in the segmentation of the working class.

The Profit-Motive Didn’t Create The James Webb Space Telescope

January 14, 2022 Dave Lindorff, This Can't Be Happening!. Educate! Capitalism, Innovation, Science and technology, Socialism

We have two examples of economic systems and of individual scientific workers and business people doing what they do that offer a instructive illustrations of why the US is so screwed up, and why it doesn’t have to be that way. The first is the extraordinary new (if unfortunately named) James Webb telescope heading rapidly towards it’s parking orbit at the Lagrange point 2.2 where its telescope, reportedly 100 times more powerful than the already extraordinary orbiting Hubble telescope, will be able to show images of early galaxies formed only a short time after the Big Bang. That telescope, which has had to go through over 300 automated or remotely controlled steps — in order — to open up from its fetal position crammed inside the oversized faring of a European-built Ariane rocket — was designed and built by scientists and engineers working on salary and launched on a rocket designed and built by a multi-European government agency.

The Capitalist Death-Drive, Afghan Sanctions, Attack On Medicare

January 10, 2022 Lee Camp, Redacted Tonight. Resistance Report Afghanistan, Capitalism, Class Struggle, Health Care, Medicare, US Imperialism

Lee Camp looks at how the capitalist system sits at the heart of the worst problems facing society. In this history lesson, Camp takes you back to the feudal system, to the creation of corporations and currency, to the modern system that’s destroying the lives of the poor today. The ruling class don’t even try to hide the inhumanity that keeps the system running anymore, now that it has become almost impossible to ignore. This leaves it up to popular movements to end the capitalist system and create something new. Then, Camp reports on the police brutality victims who don’t gain as much attention as those murdered by cops, and Marilyn Manson’s #MeToo allegations. Afghanistan’s economy is suffering under US sanctions after the 20-year war on the Afghan people.

Capitalist Bonanza: Share Buybacks Reached Record High In 2021

January 5, 2022 Otto Fors, Left Voice. Educate! Capitalism, COVID-19, Finance and the Economy, wealth inequality

The coronavirus pandemic continued to wreak havoc in 2021, with the Omicron and Delta variants, supply chain disruptions, and inflation battering the global working class. In the United States, companies continued to put profits before worker well-being while the Biden administration refused to provide relief like continuing the child tax credit. Amid much bad news for workers last year emerged a key victor: wealthy shareholders. Share buybacks hit a record high last year. Companies in the S&P 500 — a market index which tracks the stock prices of 500 leading U.S. companies — repurchased shares worth over $245 billion in the third quarter alone. These exorbitant buybacks helped U.S. stock market indices reach record peaks: the S&P 500 broke 67 records in 2021 and increased its value by 25 percent.

2021: A Grim Year For Planet Earth

January 2, 2022 Farhana Haque Rahman, Inter Press Service News Agency. Educate! Capitalism, climate crisis, COVID-19

Toronto, Canada - Between the COVID-19 pandemic and the deadly manifestations of the climate crisis, there were few places to hide for most of us in 2021. Ageing billionaires riding booming stock markets could take their first flights into space in their own rockets, but for the rest of Planet Earth’s 8 billion people with their feet on the ground it was a year of placing hope in the hands of scientists and our political leaders to turn the tide. Our review of 2021, as seen through the eyes of IPS reporters and contributors around the world, must begin as a year ago by paying our respects to those who lost their lives early, while also extending our gratitude to the often anonymous individuals fighting to make things better.

Pressure Grows On Biden To Shut Down Medicare Privatization Scheme

December 31, 2021 Jake Johnson, Common Dreams. Resist! Capitalism, Health Care, Joe Biden, Medicare, Privatization

Calls are mounting for President Joe Biden to terminate an under-the-radar Trump-era pilot program that—if allowed to run its course—could result in the complete privatization of traditional Medicare by the end of the decade. A petition recently launched by Physicians for a National Program (PNHP) has garnered more than 10,000 signatures as doctors and other advocates work to raise public awareness of the Medicare Direct Contracting program, which the Trump administration rolled out during its final months in power.

After Years Of Setbacks, US Labor Demonstrates Its Power

December 28, 2021 Monica Cruz, People's Dispatch. Resist! Capitalism, Labor Movement, Labor Unions, Worker Rights and Jobs

2021 was a historic year for labor in the US. An eruption of strikes, major contract wins, and workers quitting low-wage jobs in unprecedented numbers all signaled that workers en masse are ready to reclaim their power. Workers organized union drives across nearly every industry, pushed for union reforms, and elected new union leadership, speaking volumes to their desire for a more democratic workplace. For many workers, the pandemic revealed the cruelty of capitalism. Mainstream media and politicians campaigned for a return to business as usual during this second year of COVID. In particular, workers, called “essential” and “heroes” during the pandemic, were expected to continue sacrificing the most while receiving the least in pay and benefits.

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