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.
Markus Stanley (Policy Director, Americans for Financial Reform): Derivative bets not a zero sum game, have far reaching real world consequences
from Northern Illinois Jobs with Justice
As the Walmart Warehouse strike in Elwood,IL enters its eighth day, workers offer insight about the strike.
Support the workers at:
http://www.warehouseworker.org/elwoodstrike.html
Vijay Prashad (Trinity College, and author of Arab Spring, Libyan Winter) discusses what the Occupy movement has accomplished, and what’s next.
Michael Hudson (Department of Economics, University of Missouri, Kansas City, and author of The Bubble and Beyond): Shoveling money to the banks not meant to create jobs, it’s a way to give banks even more speculative capital and prepare them for another meltdown.
from GRITtv with Laura Flanders
We as a society view our monetary debts as a moral issue: We took out the money, we should have to pay it back. The problem with this logic is that the money we are giving the banks, financial institutions and our government never existed before the interest we incurred piled up.
Pam Brown of the Occupy Student Debt Campaign and Strike Debt says there’s another way out of our predicament: If our numbers are large enough, we can collectively refuse to pay back the trillions that are being extorted from us.
from The Big Picture with Thom Hartmann (RT)
Dr. Jill Stein, Green Party candidate for President joins Thom Hartmann. Part of the reason why there is so much bickering and gridlock in Washington is because the US government is a two-party system. How would our democracy be different with a third major party – and could the Green Party be that party?
from Democracy Now!
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.
See also: bainport.com
Activists with “Journey For Justice” demand national moratorium on school closings
from The Big Picture with Thom Hartmann (RT)
Bill Fletcher, Jr., AFGE/activist, joins Thom Hartmann. Ronald Reagan may be a Republican hero – but he’s played the role of the villain to American workers for over three decades. How has the American worker suffered over the last 30 plus years – and how can we stop the war on unions that’s been plaguing America?
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