by Pam Verner, posted on Sunday, October 7th, 2012 at 3:42 pm
I was eight the day I grew up. I know that’s too young, really. But life is hard, and we all have to buck up and grow up someday. It’s just that some of us have to grow up when we’re younger than others. For me it was eight. I remember the moment. At age eight I found out the world is unfair and that terribly unfair circumstances can take away your life or the life of someone you love.
It was the middle of the night and I was sitting by myself on a folding chair placed along the wall of a long dark empty hallway outside the emergency room of our small community hospital. It was 1956. My mom was inside talking to the two doctors who had been wakened in the middle of the night to come to the ER to tend to me. I could hear voices coming from inside the room, but not words. I thought I could hear my mom crying. They were talking about me.
Jeff Faux (Economic Policy Institute): The similarity of positions and Obama’s refusal to explain the real causes of the crisis gave the debate to Romney
Leo Panitch and Sam Gindin (authors of The Making of Global Capitalism: The Political Economy of American Empire): As long as effective demand remains low and banks demand austerity to protect their assets, the crisis will deepen.
Part Two: The Crisis and Who Has the Power
Major structural change or effective short term reforms requires addressing democratic decision making starting with making banks a public utility.
Democracy Now! broadcasts from just outside a Freeport, Illinois, factory owned by Bain Capital, the private equity firm founded by Republican presidential nominee Mitt Romney. Workers at Sensata Technologies have set up an encampment called “Bainport” across the street from the facility to protest the company’s plan to close the plant and move it to China, taking 170 jobs with it. The workers have been trying to get Romney to save their jobs. We’re joined by two Sensata workers, Mark Schreck and Tom Gaulrapp; and Freeport Mayor George Gaulrapp, who has supported the encampment and fended off calls for it to be shut down.
“Welcome to Bainport, a taste of the Romney economy” — that’s the message on one of the banners that greets you at the tent city where we broadcast from in Freeport, Illinois. “Bainport” is an encampment set up by workers who face losing their livelihoods when their workplace closes its doors in November and moves to China, taking 170 jobs with it. The workers’ plant, Sensata Technologies, is owned by Bain Capital, the firm co-founded by Republican presidential nominee Mitt Romney. Democracy Now! first spoke to the Sensata workers when we met them at the Republican National Convention in Tampa, Florida, where they unsuccessfully tried to meet with Romney. Now, they have returned to Freeport and set up a protest camp in a bid to save their jobs. We speak to “Bainport” workers Dot Turner and Cheryl Randecker.
Gerald Epstein (Political Economy Research Institute, and Department of Economics, University of Massachusetts, Amherst): The basic policies must change or recession and high unemployment will continue
