“Crash on the Horizon”
by Stephan Schulmeister, Freitag 08/ 2018
The systemic reasons for the crisis are more important than a sudden fall in prices. Stocks are held on average 22 seconds, not 6 months or ten years.
Real-capitalism is a plus-sum game. Financial capitalism is a zero-sum game. Profit is made at the expense of others. “Love for money” replaces trust.
Different ways are possible after a financial meltdown.
Crisis 2.0: A Policy for the 99%
by Hans Baumann, Beat Ringer, Hans Schappi and Johannes Wickli, 2011
https://www.indybay.org/newsitems/2018/03/14/18807372.phpThe capital surpluses are a constant source of speculative waves and manoevers regarding securities and currencies..The crisis of state finances is mainly a crisis of tax refusal. This refusal is part of tyhe continuing neoliberal policy of deregulation. States were systematically weakened over against the financial market actors.
In the last years, the elites shifted the tax burden from businesses and high incomes to consumer taxes and fees that puts a damper on private demand.
1. The state should represent the public interest and yet has become the “errand boy of the banks” (Bill Moyers).
2. The social contract means protecting and strengthening the public sector.
3. The poor have rights and need a strong state, not food boxes, cynicism, and an early death.
4. Economic myths and lies led to exploding inequality and plutocracy. Education, healthcare, and housing should be human rights and not privileges.
5. The truth will set us free but the truth is a process, not a cudgel.
6. False conservative theology holds owners of capital as the only ones with rights deserving protection. Corporations are stylized as suffering servants. Markets are worshiped as self-healing deities automatically returning to equilibrium.
7. Education is the great transformer (John Kenneth Galbraith). Aggressive tax avoidance and tax competition must be overcome for a more just tax system.
Lori Wallach and Michael Hudson Debate Trump’s Plan to Impose Steel & Aluminum Tariffs
DemocracyNow.org, March 8, 2018, 37 min
Video: How Democracies Die, 1 hr 12 min, 1/31/18
Civil society and people-power counter abusive power!
Don’t let them turn food stamps into Velveeta cheese!Video: How Democracies Die, 1 hr 12 min, 1/31/18
Trump calls liberal media his chief enemies. At the same time, the same media reproduce political spectacle through their constant reporting by offering him disproportional attention and a platform. The profit-mongering of the media intensifies the visibility of right-wing ideology.
Phenomena like Trump and the new nationalisms confirm the actuality of the theory of the authoritarian personality articulated by Wilhelm Reich, Erich Fromm, and Theodor Adorno. By their structure, capitalist social media are often so invested that they encourage individualism, narcissism, and the cult of personality and are not social medIa.
Like food, clothing, health, and education, housing is an elementary need. One’s apartment is a place of retreat of the private person, a protective- and creative space of inviolable identity, the third skin of the person after clothing.
Land and property in congested areas are very limited. Therefore, there are good reasons to declare it a public asset and thus evade private control. Long-term low-interest housing tax credits, SROs, and nonprofit or cooperative housing are alternatives to indifference, market fundamentalism, and plutocracy
Long-term low-interest housing tax credits have built between 3 and 4 million units and are a vital federal program. Surely, cutting this program was a terrible mistake like cutting HUD $6-8 billion. Can you help restore these programs and cancel the cuts. In addition, SROs are vital and bring community, unlike warehouses or prisons. Nonprofit or cooperative housing could be a new beginning and a new necessity since private developers cannot build inexpensive housing.
We are bound to one another like the waves of the sea, said historian Norbert Elias.
more at www.openculture.com, www.grin.com, www.freembtranslations.net, and www.citizen.org
The Convivialist Manifesto (2013), 22 pp
A different kind of world is not just possible; it is a crucial and urgent necessity
Never before has humanity had such a wealth of material resources and technical and scientific expertise at its disposal. Overall, it has become rich and powerful beyond the imagination of anyone in former centuries. That it is any happier as a result has yet to be proved. Even so, there is no desire to turn back the clock: we are all aware that each new day brings with it ever more opportunities for personal and collective fulfillment.
At the same time, it is no longer possible to believe that this accumulation of power can go on forever – in just the same way, according to some unchanging dictate of technical progress – without eventually rebounding on itself and putting humanity’s physical and moral survival at risk. With
each new day, the signs of potential catastrophe are emerging ever more clearly and worryingly. The only issues in doubt are which threats are the most immediate and which of the urgent problems should take priority. These threats and problems must be constantly borne in mind if we are to give ourselves a real chance of seeing today’s promises come to fruition.
The current threats include
global warming and the disasters
Video: Prof. Frederic Vandenberg
The US imports twice as much as it exports and has run an annual trade deficit around $500-600 billion since 2000. But we’re much better at finding fault with others! Winner take all, hire and fire and the right of the stronger characterize our labor policy while we pretend infinite growth is possible on a finite and grieving planet!
Social security keeps our economy from sinking while luxury consumption, weapons, and aggressive tax planning show a robust 3% growth! Speculation supplants productive investment but No problemo! The poor need a strong state but banks and financiers are subsidized and the poor and unemployed are blamed for their misery!
Closing tax havens and ending tax competition are vital for a fairer tax policy. The state should represent the public interest and yet is the “errand boy for the banks” (Bill Moyers)!
more at www.kickitover.org, www.freembtranslations.net, www.truth-out.org, www.commondreams.org, and www.onthecommons.org
The Public Interest Environmental Law Conference is the premier annual gathering for environmentalists worldwide, and is distinguished as the oldest and largest of its kind. The Conference historically unites more than 3,000 activists, attorneys, students, scientists, and concerned citizens from over 50 countries around the globe to share their experience and expertise.
The Conference is organized solely by the volunteers of Land Air Water (LAW), a student environmental law society at the University of Oregon School of Law, and is co-sponsored by Friends of Land Air Water (FLAW), a non-profit 501(c)(3) organization.
Modern politics must fight against excessiveness and inequality. All progress narratives have worn out. The cake will not become larger. The perspective of conviviality aims at abundance, not at tightening belts. The city could become a human living space and not a development zone for capital and cars.