How the World Heads for the Next Crash
by Yves Wegelin, 2017, woz.ch
The greed for money seduced bankers to take greater and greater risks. So they granted mortgages to destitute Americans that they sold as securities to other greedy bankers all around the world. That was the conclusion of the official US investigation of the financial crisis.
Governments secure the money of the rich. State debts have grown in nearly all countries of the world since 2010. Ten years after the outbreak of the financial crisis, the economy is again in a standstill or mired in crisis. Trump wants to cancel the most recent bank regulations and cut taxes for corporations in half.
Triump of the Will was a triumph of propaganda – showing the party at the center of everything.
Corporate profits explode while investments stagnate. Public housing declines with privatization. According to neoliberal theory, higher profits lead to greater investments and more jobs. In truth, higher profits lead to greater use of tax havens, companies buying back their own stock, and more speculation on currencies. The state should represent the public interest and yet special interests or private interests are often in the driver’s seat with deregulation, privatization, and liberalized markets. The state becomes the “errand boy for the banks” (cf. Bill Moyers).
The President as Businessman
by Rudolf Hickel, blaetter.de, June 2017
Trump’s gigantic tax cuts will only benefit the rich. State indebtedness increases on account of neoliberal fiscal policy, not through infrastructure investments.
Revenue losses of over six trillion dollars are expected for the first decade after the Trumpian tax cuts start. In his symbolic politics, Trump sells the illusion that the old order can be restored. Only market efficiency counts for this system, not social justice.
Canceling food, housing, and health care benefits is sadism and greed, not public policy.
The Great Trump Show
by Daniel Leisegang, blaetter.de
The bizarre billionaire becomes an epic disaster when regulation is demonized, social necessities like food stamps and Medicaid are cut in the hundreds of billions and taxes for corporations may be cut in half.
The failure of the media was manifest in unending questions about Hillary’s emails while hardly one reporter asked about Trump’s tax plans. The media underrated Trump in a fatal way and took a bad turn.
With three honest Republicans, the Trump agenda would be jammed. At least we’d no longer be marching into the Stone Age or the Ice Age!
Memorandum 2017: Alternatives for a Solidarity Europe: Instead of “Germany First”
The European Union is at a crossroads. The reason lies in the neoliberal redistribution policy favoring capital incomes for many years. “Mass unemployment intensified and was not ended in Europe. Millions of those with work are in precarious working conditions.” The poverty rates increase and the pension systems are not secure anymore.
The rich continue to commit fraud on the capital markets as though a financial- and banking crisis never happened. Now the governing political class in Europe appears astonished about the growth of rightwing-populist and rightwing extremist parties that threaten the existence of the EU.
Capitalism as a Regressive Descent Society. Review of Oliver Nachtwey’s “The Descent Society” by Julian Bierwirth
The escalator is going down and no longer up as in the “social modern age.” The social trend drives toward precariousness and the accompanying social descent. Social institutions and securities are being cleared away. Citizenship as political sovereign is being replaced by the isolating structures of market citizenship.
Trump’s 2018 budget is more sadism, greed, hypocrisy and selective perception than public policy. Demonizing regulation and disparaging sharing are irrational and portend national and global economic collapse and the security state. HUD, the National Institute for Health, WIC food assistance, Pell-grants, Medicaid, food stamps, teacher training, EPA, the National Endowment for the Arts, the Legal Corporation and social security should be strengthened not dismantled as frivolous excesses. Countermeasures are necessary to counter exploding inequality, precarious work, and profit worship. The financial sector should be shriveled and the public sector expanded.
The 159-page e-Book “Alternative Economics: Reversing Stagnation” is yours for only $3.99 with the coupon code PU68W until June 4, 2017.
Enjoy the feast! Celebrate your independence!
Close down the casino economy!
Attac Germany 2009
“Disarm the markets!” When Attac was founded in 1998, this slogan was formulated against the backdrop of the financial crash in East Asia…What is needed are real changes towards another paradigm, where finance is forced to contribute to social justice, economic stability and sustainable development.
The crisis has systemic roots, and hence the structure and the mechanisms of the system, in general, are at stake.
The financial markets constitute the center and the driving force of neo-liberal globalization. The finance sector evolved to dominance over the economy after the introduction of free floating exchange rates between the major currencies in 1973…
“Punishing the Poor. The Neoliberal Government of Social Insecurity” by Loic Wacquant, 2009,
211 pages, a John Hope Franklin book
Public goods and social capital are missing in some American ghettos so “public institutions act as negative social capital and ensure that ghetto-persons cannot escape their dependent and marginalized situation.”
Public goods and services are necessary so everyone feels included in the modern project and the poor do not only see the public authority as negative, violent and oppressive.
Head Start, Meals on Wheels, WIC food assistance, the National Institute for Health, Legal Aid and PBS should be strengthened and not cut to the bone. Public spirit does not come from nowhere.