In Colorado they will kill you for your house. RIP Martin Wirth and assailants.

In Colorado they will kill you for your house. RIP Martin Wirth and assailants.


My friend Martin Wirth made the news yesterday trying to protect his Bailey Colorado home from a predatory mortgage company. Today he is dead and I can’t say I believe this is what he intended. He took a sheriff’s deputy with him, and he wounded two more, but I don’t believe Martin intended that either. At this point we know only law enforcement’s side of the story so it’s too early to give Martin credit or blame. RIP everyone, victims all.

I do know Martin was served an eviction notice and that he intended to resist it. He was waging the fight in court. Two years ago he hoped to deter an eviction by sheer number of allies camped on his lawn. It would have achieved only a stay, but a symbolic victory is the best you can hope for in a political battle.

Alone with a rifle, I think Martin meant to have a western standoff, as pure a demonstration of why Americans have the 2nd Amendment, to protect your home from the bad guys, often the armed proxies of the state.

Let’s say that’s what Martin had in mind. Do you not suppose that he was a surprised as you and I that the Sheriff’s deputies would open fire? That they’d kill him, over a house?

He’d be in trouble enough just brandishing a gun. You’d think the state would be satisfied to jail a person for that. It gets him out of the house.

According to reports, the sheriff’s deputies anticipated resistance. They sent eight deputies to take Martin’s house.

In Colorado we’ve seen law officers show up in combat gear to enforce an eviction. They carried assault rifles among other scary weapons, which most assumed were worn for deterrence. After all, recalcitrant evictees can be arrested enroute to the grocery store or to check their mail without the need for a military assault.

In Bailey Colorado apparently everyone is in a big hurry to shut up the loudmouth. Martin Wirth was an Occupy Denver activist and a Green Party candidate for the state senate. In the last election he won 25% of the vote. No good letting Martin Wirth get that far this year.

In life, Martin was probably a kinder, compassionate, more thoughtful variety of western archetype. In death, he was cinematic. Typical of the western archetype he will be both vilified and honored.

In the Leigh of the Storm

“Because we all share an identical need for love, it is possible to feel that anybody we meet, in whatever circumstances, is a brother or sister. No matter how new the face or how different the dress or behavior, there is no significant division between us and other people. It is foolish to dwell on basic differences, because our basic natures are the same.” — Dalai Lama

So our little Occupy group met with Colorado Springs City Council member Tim Leigh the other night. He came to meet us at our regular haunt, graciously provided by independent local business the Cafe Corto.

Tim is an affable dude, and our meeting seemed to go well, at least in the sense that we were able to develop a rapport with him and come away with a sense of friendliness, if not friendship. Tim is a self-described member of the 1%, an appellation that derives from specific statistics involving wealth which has acquired connotations as a result of Occupy that Tim may not be so quick to embrace. Fact is, i really don’t know enough about the guy to decide for myself whether or not he deserves application of the darker connotations or not. The group at the meeting is as diverse as any formed in October’s Occupy crucible, and as has been characteristic of the movement in general, each in attendance holds individual interpretations of just what Occupy is, and what we mean to accomplish. Good ol’ Thomas, in the course of his regular series of uncontrolled and only marginally civil outbursts, vehemently denied we constitute a “movement.” Others sought mostly to find little political fulcra with which to pry at Tim’s scales, (in case he’s a shape-shifting alien, i suppose). None of this was surprising–we are a group dedicated to disruption of the entrenched, monied status quo, working within a rough framework of fairly aggressive expression worldwide, if nothing else.

Tim weathered the various clods of dirt whipped up by the wind as one might expect from either a politician, which label he denies, or a very rich real estate wheeler-dealer, which would be ludicrous to attempt to gainsay. I don’t have the motivation to dig up lots of facts about Tim Leigh’s business dealings, but we know well enough that his name is on an awful lot of buildings around town, and he lives on a tidy and isolated landscaped lot up on the Mesa, where the houses are all overpriced, the better to keep the riff-raff away. His house is almost certainly bigger than yours. No one is apt to be shocked by those minor revelations. In fact, his now predictable assertions to be “in the same boat” as we would be fairly ludicrous to the casual observer, except that i think he’s right on the money with that one, though perhaps not as he sees it. Thomas asserts that we are an issue-driven–something not a movement–and he’s right about issues, at least in part. Tim is himself in a political position and making plenty of sounds i recognized as definitively politician-like in spite of his disavowals of the label. Focus on issues seems to be relatively comfortable, and certainly easier than addressing the grand thematics that permeate Occupy to the chagrin of some of its more terrestrially grounded aspirants, as well as its critics. As a result our conversation with Tim was often siderailed into issue-oriented lulls, at least in my mind, though i acknowledge the importance of issues as well. I’m just a grand theme kind of guy.

Tim had a few disturbing things to say about a few issues, like his statement that fracking in eastern El Paso county is “inevitable.” He said a few intriguing things as well. I bet he already regrets toying with the notion of giving OCS a building. He even let slip his own secret fears that the whole economic system might collapse. One thing that immediately raised lots of hackles, oddly enough, was his bemused question about the religious orientation of us Occupiers. And there’s the rub. Or at least one big one.

I promised to eschew incidental reporting for a while, and i am. Really. This may seem like reporting, but it’s otherworldly speculation. I suppose Chet will handle specifics well enough. Tim demonstrated a bit of a dichotomy one comes across in the Occupy phenomenon by stressing issues and suggesting ways for us to work with the System to get things to work out our way. This response to Occupy crops up all the time, both externally and internally. I met with a foreclosure working group in Denver last weekend, and spoke with a “constituent advocate” in Senator Michael Bennett’s office last week. The dichotomy arose there as well. The thing is, lots of people, including lots of Occupiers, are trying to figure out how to work within the System, however it may manifest, to change Things for the better. This is the ground where one finds the crossover between Occupy here in America, and the Tea Party. Again, everyone has a different take, but many express the thing as a desire to return to the Constitution, or to reclaim the “American Dream,” “End the Fed,” get money out of politics, or whatever, within a range of tactical thinking from addressing Congress and local pols, through–well, shooting Congress and local pols.

On the other hand, there’s a big batch of us that see the problems Occupy engages as rather beyond systemic reach and veering into if not fully established as spiritual issues. Although some at our meeting took auto-umbrage at Tim’s query, i think he asked the question in good faith, (ahem), and had worked up a rather bemused state for himself about our expression and motivation. Tim, you see, is a “pragmatist,” he says. He works the old system like a farm pump, and out comes serviceable, if foul-tasting, water. We look like Jesus freaks or something, to him, idealistic apotheoses.

We esoteric Occupiers, as one might call us, don’t see any hope at all from within the System, or at best, very little. (I’m willing to entertain the possible viability of the U.S. constitution, for example, if only because of its inherent malleability). We aren’t especially interested in, for example, the slick approach of establishment solutions to the foreclosure crisis where the government throws grease on the banking cartels’ bone-grinding machinery, setting up programs that allow mortgage holders to continue to be pillaged, a little less uncomfortably. Or policies that allow politicians to bray like drunken mules over the reductions in increase (!) in toxic emissions over the next fifty years when we all know damn well that the rate of extinction of species will have the very cockroaches fighting over table scraps soon enough to make fifty years seem a shaky proposition. Or bullshit excuses about some XX-anianstani or another that’s supposed to be aiming another batch of invisible weaponry at us while cartel honchos hop on a plane for Jerusalem so they can watch the fireworks from there, and record their profit and loss at close quarters.

We don’t like the damn crooked, snaky, backstabbing, cheststabbing, competitive, might-give-you-a break-after-i-get-mine-otherwise-fuck-you-and-yours System, and really we figure that even if it sounds ridiculous to many we’ve come to a point where abolishing the System is the only way to save our now tenuous hold on viable life here on Earth. We don’t see much pragmatism in working within the System in an effort to abolish the System. In fact there’s some concern that the thing may collapse on your head, doing it that way. There’s a real sense of unobtainability in working inside the System, akin to the application of Godel’s Incompleteness Theorem i posted earlier. It really seems to us fringe thinkers that the best one can do by working within the System is to expose it’s inherent, indivisible, insuperable bankruptcy.

I’ve been criticized, (by an Atheist that simply couldn’t tolerate discussion of Anything outside his Box), for attaching Undue significance to certain ordinary terms by targeted capitalization. Here in this very post, i’ve capitalized the terms, “System,” and “Things,” in order to attach significance to them that i don’t see as undue. I’m really not so sure what Tim Leigh, or even other Occupiers mean when we bandy those terms about in conversation so very casually. I strongly suspect, though, that their use is far more fluid and troublesome than we notice until we condemn our fellows for misstatements that only derive from failing to recognize one another’s usage. So let me explain that i am not restricting the Terms to ordinary usage involving mere political or financial systems or things, but expect them to be interpreted in a kind of supra-dimensional sense where the mundane is enfolded into a set batch of meaning we can’t really plumb so well.

The point is we need a new System if Things are going to work out for Us. Get it? I’ve often said that i’m part of the 100%. That includes Tim Leigh, whether or not we can trust him. It includes N-eeew-t Grinch-rich. I includes, say, Eric Holder the U.S. AG that has the sheer balls to hire on in his current capacity, straight off the payroll at Covington & Burling where he helped big bankers commit the crime of the millennium. No shit. There’s just no way to trust a guy like that. But we’re all in this boat together, alright, even if some of us are busy drilling holes in the bottom. This System where we steadily compete to see which of us can screw the most of us over simply isn’t working. And i don’t think we can come out any better if we simply rearrange the game board a little so we can screw Holder, instead.

A different Eric, this one a dear friend, says i oughtn’t to hesitate to speak “for Occupy” in the media, and expresses discomfiture when i say i can only speak for myself. But i can’t always speak for everyone. Not all Occupiers agree with the idea that a spiritually oriented reimagining of Human consciousness and interaction–a Paradigm Shift–is central to our focus. But it is, because no political ideology is apt to rescue us from ourselves. We humans have soundly fucked Things up. We have the wherewithal to fix our messes, but only if we completely and utterly rearrange our values. Sometimes we Occupiers still need some rearranging, too, and the business of demolition of our own hoary paradigms and approaches has been uncomfortable already. It’s not so likely to get much easier, either, but here we are at sea together. We’d best all put our drills away.

All these themes are in earlier posts, and i expect they’ll come up again. We esotericists could be wrong about it all. The huge body of science professionals warning of impending and serious environmental dangers could be completely wrong, or even manipulated by power-grabbing globalists, (though that would fall within the scope of this notion of System over system). Being wrong about the imminence of karmic backlash doesn’t negate the ethical reality that we just don’t do each other right. That we’re simply way to caught up with our own rather infantile egos. We really don’t think the numbers are to easily deniable, though, so even though we know this business of attempting to shift the consciousness and motivation of the entire species is absurdly grandiose and improbable, what else can we do? Do or die, it is. And when the whole Thing collapses, hopefully some of us will still be standing. If it does, and we are, Tim, Newt, and Eric are all welcome to stop by for a sandwich, if we still have one. Same goes for those Occupiers alienated by differences of opinion. In the meantime, we mean to fight the Dark aspects of the System tooth and nail, both from within and without.

Michael Moore CAPITALISM postscript

From Michael Moore: “15 Things Every American Can Do Right Now:”
> Friends, It’s the #1 question I’m constantly asked after people see my movie: “OK — so NOW what can I DO?!” You want something to do? Well, you’ve come to the right place! ‘Cause I got 15 things you and I can do right now to fight back and try to fix this very broken system. Here they are:

FIVE THINGS WE DEMAND THE PRESIDENT AND CONGRESS DO IMMEDIATELY:

1. Declare a moratorium on all home evictions. Not one more family should be thrown out of their home. The banks must adjust their monthly mortgage payments to be in line with what people’s homes are now truly worth — and what they can afford. Also, it must be stated by law: If you lose your job, you cannot be tossed out of your home.

2. Congress must join the civilized world and expand Medicare For All Americans. A single, nonprofit source must run a universal health care system that covers everyone. Medical bills are now the #1 cause of bankruptcies and evictions in this country. Medicare For All will end this misery. The bill to make this happen is called H.R. 3200. You must call AND write your members of Congress and demand its passage, no compromises allowed.

3. Demand publicly-funded elections and a prohibition on elected officials leaving office and becoming lobbyists. Yes, those very members of Congress who solicit and receive millions of dollars from wealthy interests must vote to remove ALL money from our electoral and legislative process. Tell your members of Congress they must support campaign finance bill H.R.1826.

4. Each of the 50 states must create a state-owned public bank like they have in North Dakota. Then congress MUST reinstate all the strict pre-Reagan regulations on all commercial banks, investment firms, insurance companies — and all the other industries that have been savaged by deregulation: Airlines, the food industry, pharmaceutical companies — you name it. If a company’s primary motive to exist is to make a profit, then it needs a set of stringent rules to live by — and the first rule is “Do no harm.” The second rule: The question must always be asked — “Is this for the common good?” (Click here for some info about the state-owned Bank of North Dakota.)

5. Save this fragile planet and declare that all the energy resources above and beneath the ground are owned collectively by all of us. Just like they do it in Sarah Palin’s socialist Alaska. We only have a few decades of oil left. The public must be the owners and landlords of the natural resources and energy that exists within our borders or we will descend further into corporate anarchy. And when it comes to burning fossil fuels to transport ourselves, we must cease using the internal combustion engine and instruct our auto/transportation companies to rehire our skilled workforce and build mass transit (clean buses, light rail, subways, bullet trains, etc.) and new cars that don’t contribute to climate change. (For more on this, here’s a proposal I wrote in December.) Demand that General Motors’ de facto chairman, Barack Obama, issue a JFK man-on-the-moon-style challenge to turn our country into a nation of trains and buses and subways. For Pete’s sake, people, we were the ones who invented (or perfected) these damn things in the first place!!

FIVE THINGS WE CAN DO TO MAKE CONGRESS AND THE PRESIDENT LISTEN TO US:

1. Each of us must get into the daily habit of taking 5 minutes to make four brief calls: One to the President (202-456-1414), one to your Congressperson (202-224-3121) and one to each of your two Senators (202-224-3121). To find out who represents you, click here. Take just one minute on each of these calls to let them know how you expect them to vote on a particular issue. Let them know you will have no hesitation voting for a primary opponent — or even a candidate from another party — if they don’t do our bidding. Trust me, they will listen. If you have another five minutes, click here to send them each an email. And if you really want to drop an anvil on them, send them a snail mail letter!

2. Take over your local Democratic Party. Remember how much fun you had with all those friends and neighbors working together to get Barack Obama elected? YOU DID THE IMPOSSIBLE. It’s time to re-up! Get everyone back together and go to the monthly meeting of your town or county Democratic Party — and become the majority that runs it! There will not be many in attendance and they will either be happy or in shock that you and the Obama Revolution have entered the room looking like you mean business. President Obama’s agenda will never happen without mass grass roots action — and he won’t feel encouraged to do the right thing if no one has his back, whether it’s to stand with him, or push him in the right direction. When you all become the local Democratic Party, send me a photo of the group and I’ll post it on my website.

3. Recruit someone to run for office who can win in your local elections next year — or, better yet, consider running for office yourself! You don’t have to settle for the incumbent who always expects to win. You can be our next representative! Don’t believe it can happen? Check out these examples of regular citizens who got elected: State Senator Deb Simpson, California State Assemblyman Isadore Hall, Tempe, Arizona City Councilman Corey Woods, Wisconsin State Assemblyman Chris Danou, and Washington State Representative Larry Seaquist. The list goes on and on — and you should be on it!

4. Show up. Picket the local branch of a big bank that took the bailout money. Hold vigils and marches. Consider civil disobedience. Those town hall meetings are open to you, too (and there’s more of us than there are of them!). Make some noise, have some fun, get on the local news. Place “Capitalism Did This” signs on empty foreclosed homes, closed down businesses, crumbling schools and infrastructure. (You can download them from my website.)

5. Start your own media. You. Just you (or you and a couple friends). The mainstream media is owned by corporate America and, with few exceptions, it will never tell the whole truth — so you have to do it! Start a blog! Start a website of real local news (here’s an example: The Michigan Messenger). Tweet your friends and use Facebook to let them know what they need to do politically. The daily papers are dying. If you don’t fill that void, who will?

FIVE THINGS WE SHOULD DO TO PROTECT OURSELVES AND OUR LOVED ONES UNTIL WE GET THROUGH THIS MESS:

1. Take your money out of your bank if it took bailout money and place it in a locally-owned bank or, preferably, a credit union.

2. Get rid of all your credit cards but one — the kind where you have to pay up at the end of the month or you lose your card.

3. Do not invest in the stock market. If you have any extra cash, put it away in a savings account or, if you can, pay down on your mortgage so you can own your home as soon as possible. You can also buy very safe government savings bonds or T-bills. Or just buy your mother some flowers.

4. Unionize your workplace so that you and your coworkers have a say in how your business is run. Here’s how to do it (more info here). Nothing is more American than democracy, and democracy shouldn’t be checked at the door when you enter your workplace. Another way to Americanize your workplace is to turn your business into a worker-owned cooperative. You are not a wage slave. You are a free person, and you giving up eight hours of your life every day to someone else is to be properly compensated and respected.

5. Take care of yourself and your family. Sorry to go all Oprah on you, but she’s right: Find a place of peace in your life and make the choice to be around people who are not full of negativity and cynicism. Look for those who nurture and love. Turn off the TV and the Blackberry and go for a 30-minute walk every day. Eat fruits and vegetables and cut down on anything that has sugar, high fructose corn syrup, white flour or too much sodium (salt) in it (and, as Michael Pollan says, “Eat (real) food, not too much, mostly plants”). Get seven hours of sleep each night and take the time to read a book a month. I know this sounds like I’ve turned into your grandma, but, dammit, take a good hard look at Granny — she’s fit, she’s rested and she knows the names of both of her U.S. Senators without having to Google them. We might do well to listen to her. If we don’t put our own “oxygen mask” on first (as they say on the airplane), we will be of no use to the rest of the nation in enacting any of this action plan!

I’m sure there are many other ideas you can come up with on how we can build this movement. Get creative. Think outside the politics-as-usual box. BE SUBVERSIVE! Think of that local action no one else has tried. Behave as if your life depended on it. Be bold! Try doing something with reckless abandon. It may just liberate you and your community and your nation.

Plucky ACORN staff show compassion for demonstrably stupid crackers

Plucky ACORN staff show compassion for demonstrably stupid crackers

Hannah Giles poses as hapless prostitute to defraud ACORN office
Congress has sadly overreacted to the Fox News video sting operation to discredit ACORN. Over the summer, most of the community activism offices did run the Giles/O’Keefe whore/pimp act straight out the door, but invariably some staff member was going to take pity on the inadvisably-dressed, street-smart-deficient pair.

What are you going to do, tell someone they’re too stupid to a) turn tricks b) mortgage a whorehouse c) traffic in child prostitutes?

Nor can you put the word out to all your offices to be on the lookout for two dopey white kids, dressed for success based on Quentin Tarantino characters, who appear to be trying to effect an undercover sting. Because that would be racial profiling. Community activists aren’t like the CIA, prepared to entrap the least idiot who voices aspirations to be an outlaw. Because American idiots abound.

I used to have a telephone number listed in the Yellow Pages under Science. Long story, but we’d get calls from uneducated white people looking for laboratory equipment, specifically beakers and measuring devices, for manufacturing Meth. Regularly. I didn’t tell them to get lost, or to turn themselves in. I referred them to the public library where a reference librarian would be able to redirect their wild hair with trained gentleness.

At yesterday’s Teabag Constitution Day Rally, I was reminded about interacting with idiots. There wasn’t an angry white person there who’d graduated high school. Someone was speaking about the constitution, and asked the crowd which amendment protected their right to free speech. The response was silent.

Arguments broke out between “patriots” and counter-protesters. Here’s how they devolved: “Have you read the Constitution?” “HAVE YOU?” “Have you?” “HAVE YOU?” “Have you?” Ad infinitum ignoratum.

The best sign was held aloft, directly in the center, by a young cracker daughter. It read, in giant, meticulously markered bold letters: LIEIR!

The is no talking sense with dumb bastards. You can only be nice, advise them to look things up, read, get an education. Why step on their dreams? If they think their best chances in life lay in prostitution and pimping, who are you to stand in their way. Their inglorious venture will be thwarted by law enforcement soon enough.

How Stupid do they have to be?

You remember, if you have been paying attention, that mini-controversy a couple of months ago where all the Corporate Sucks were calling us STUPID and/or CRAZY for daring to suggest that a commercial extolling WalMart and Halls Cough Drops being in collusion to force employees to work even while packing contagious diseases?

The same Corporate Sucks or their demented twins who derided any suggestion that the overcrowded overmedicated animals in the Meat Factories aka Concentrated Animal Feeding Enterprise system could possibly be a huge breeding pool for Viral diseases, such as for instance Influenza and resistant bacterial strains like the MRSA and Tuberculosis SuperBugs which are resistant to every antibiotic known.

Or that feeding them antibiotics, which kill bacteria but not Viral infections, leave the immune systems of the Future Hamburgers and Kentucky Fried weakened, thus more susceptible to, oh, let’s seeeeee…. Bird Flu and Swine Flu.

There was another series of commercials a couple of years ago, where a hideously deformed troll gets on a city bus, hacking and sneezing and wheezing, everybody recoiling in fear….

Then he takes an over the counter Flu remedy and gets “all better”…

Asymptomatic but, still contagious.

Same scenario in a crowded office building and in a crowded school…

But, hey, that’s all just Amusing and Entertaining commercials, right(wing)?

Then there’s the deregulation imposed on first US and now Mexico, forcing all those bad ol’ naughty wicked Socialist State programs like meat inspection, Environmental Protection, Occupational Safety and Health Administrations…

To quit meddling with businesses.

Let the marketplace regulate itself and no harm done…

Oh, yeah, that sounds like a workable plan.

See, this system is So Very Superior that we owe it to the rest of the world to place their economies and ecologies under the Benign Dictatorship of Unbridled Capitalism.

It’s for their own good, dontcha know.

Next thing you know, they’ll be trying to build an economy based on Adjustable Rate Mortgages and selling them off as though they were real cash…

Ground Zero for The Empire’s Collapse- Depository Trust & Clearing Corporation?

DTCCThe Depository Trust & Clearing Corporation or DTCC is possibly Ground Zero for the US Empire’s potential coming economic collapse, because it is the primary and dominant insuring company that guarantees pay outs for those who hold junk stocks, if they go belly up.

‘DTCC’s DTC depository provides custody and asset servicing for 3.5 million securities issues, comprised mostly of stocks and bonds, from the United States and 110 other countries and territories, valued at $40 trillion, more than any other depository in the world. In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value.’ Taken from wikipedia’s DTCC entry

Looking to see who is in charge at DTCC? Nice group of pics, right? Nice people I’m sure… lol… Good patriotic Americans and what all.

The DTCC history show 2 events that pushed this corporate outfit to the head. One was Bill Clinton’s deregulation of securities signed into law in 2000 at the end of his presidency, and the other was 9/11.

9/11 effectively was the death blow to paper securities, and DTCC was right there offering electronic securities instead. Here at DTCC’s site one finds this brief explanation of No More Paper: The Problems with Paper …see below

Q. I have heard that many securities were lost on 9/11. Is that true?

A. Yes, although they were eventually all replaced. Some $16 billion worth of certificates disappeared in the collapse of the World Trade Center towers on 9/11, and it took many months and nearly $300 million in industry costs to replace them. During this period, electronic records were used to ensure the owners of the securities could be identified. Meanwhile, shares held electronically were not harmed at all on 9/11.

OK, that’s nice…. And here, written in 1999 about the Clinton Administration’s proposed financial deregulation of that year that then later allowed the rise of even more speculative securities and the eventual domination of DTCC over the securities market, is the following…

***Threat to financial stability***

The proposed deregulation will increase the degree of monopolization in finance and worsen the position of consumers in relation to creditors. Even more significant is its impact on the overall stability of US and world capitalism. The bill ties the banking system and the insurance industry even more directly to the volatile US stock market, virtually guaranteeing that any significant plunge on Wall Street will have an immediate and catastrophic impact throughout the US financial system.

The Glass-Steagall Act of 1933, which the deregulation bill would repeal, was not adopted to protect consumers, although one of its most celebrated provisions was the establishment of the Federal Deposit Insurance Corporation, which guarantees bank deposits of up to $100,000. The law was enacted during the first 100 days of the Roosevelt administration to rescue a banking system which had collapsed, wiping out the life savings of millions of working people, and threatening to bring the profit system to a complete standstill.

As a recent history of that era notes: “The more than five thousand bank failures between the Crash and the New Deal’s rescue operation in March 1933 wiped out some $7 billion in depositors’ money. Accelerating foreclosures on defaulted home mortgages—150,000 homeowners lost their property in 1930, 200,000 in 1931, 250,000 in 1932—stripped millions of people of both shelter and life savings at a single stroke and menaced the balance sheets of thousands of surviving banks” (David Kennedy, Freedom from Fear, Oxford University Press, 1999, pp. 162-63).

The separation of banking and the stock exchange was ordered in response to revelations of the gross corruption and manipulation of the market by giant banking houses, above all the House of Morgan, which organized huge corporate mergers for its own profit and awarded preferential access to share issues to favored politicians and businessmen. Such insider trading played a major role in the speculative boom which preceded the 1929 crash.

Over the past 20 years the restrictions imposed by Glass-Steagall have been gradually relaxed under pressure from the banks, which sought more profitable outlets for their capital, especially in the booming stock market, and which complained that foreign competitors suffered no such limitations to their financial operations. In 1990 the Federal Reserve Board first permitted a bank (J.P. Morgan) to sell stock through a subsidiary, although stock market operations were limited to 10 percent of the company’s total revenue. In 1996 this ceiling was lifted to 25 percent. Now it will be abolished.

The Wall Street Journal celebrated the agreement to end such restrictions with an editorial declaring that the banks had been unfairly scapegoated for the Great Depression. The headline of one Journal article detailing the impact of the proposed law declared, “Finally, 1929 Begins to Fade.”

This comment underscores the greatest irony in the banking deregulation bill. Legislation first adopted to save American capitalism from the consequences of the 1929 Wall Street Crash is being abolished just at the point where the conditions are emerging for an even greater speculative financial collapse. The enormous volatility in the stock exchange in recent months has been accompanied by repeated warnings that stocks are grossly overvalued, with some computer and Internet stocks selling at prices 100 times earnings or even greater.

And there is a much more recent experience than 1929 to serve as a cautionary tale. A financial deregulation bill was passed in the early 1980s under the Reagan administration, lifting many restrictions on the activities of savings and loan associations, which had previously been limited primarily to the home-loan market. The result was an orgy of speculation, profiteering and outright plundering of assets, culminating in collapse and the biggest financial bailout in US history, costing the federal government more than $500 billion. The repetition of such events in the much larger banking and securities markets would be beyond the scope of any federal bailout.

The complete article published back in 1999 at Clinton, Republicans agree to deregulation of US financial system Almost a totally prophetic article, as it turns out. So now we wait and see if all the government money thrown at these financial pirates…YES, financial pirates…’works’? Will it be capable of floating all this junk held insured by DTCC?

And the Good News is…

Well, Psych… There isn’t any… Faked you out pretty good, huh?

The Chinese Navy is playing cat and mouse with “our” Navy in the South China Sea.

Two possibilities, one is that they’re doing what I suggested two years ago, “we” owe them our entire national treasury since they bought up all those T-Bills that we had just laying around not doing anything, just, you know, gathering dust and all…
The way CheneyBush Corporation intended to finance the war without raising taxes and all.

So maybe they’re simply foreclosing on our mortgage in Iraq and Afghanistan and are simply evicting us.

That would be good. Sure we wouldn’t have the oil, but hey, there’s no way in Hell we would be able to hold onto our Conquests long enough to collect the oil anyway.

The other option, far more probable, is that they’re anticipating a Red Hot Nuclear Exchange between us and Iran, except that Iran, like Iraq, doesn’t actually have nuclear weapons…

and of course the two Nuclear Powers who border Iran,

India and Pakistan…. Also border China.

Sure, the border consists of the tallest MuFu mountains in the entire MuFu world… But a mushroom cloud laden with all those nice little radioactive particles will go much much higher.

Nuking Iran, as some of “our” Government representatives wish to do, especially our Unofficial Government Officials like Bibi Netanyahu…

Would involve nuking Pakistan, and Afghanistan, and Turkmenistan, and Outer Absurdistan, and India…

…and China.

Naturally, none of these PEOPLE have any desire to die in a nuclear holocaust just to appease the Jackasses in Arlington Virginia.

Glow in the dark Grandchildren are NOT on their agenda.

I found this looking for something else. (About Mayor Rivera)

I couldn’t embed it but here’s the link to the video.
 
I was looking for something that came up in the inevitable angry political discussion on the City Bus yesterday.

Actually, nobody was angry with or against each other.

We’re all just a little teensy tiny itty bitty small bit P.O.’d about the “Lower Class” being bought and sold like so many hummm… what’s that Minor Piece in a chess game, you know, the ones that always get sacrificed to save or capture a Chessman of higher rank, oh yeah… Pawns…

But it seems Our Illustrious Mayor has once again applied his own foot to his own mouth…

On the subject of cutting bus routes.

The bus in question is to one of the medical districts.

Which is getting a large percentage of Budgetary axe.

The other parties to the conversation were a retired lady and a lady who makes her living as a Teacher.

The Mayor, allegedly (but, for some strange reason, I believe every syllable of it) His Dis-Honor has made what he thought was an unrecorded remark that he doesn’t really care what bus passengers think because “The only people who ride the bus are bums and alcoholics”

This was supposed to be posted to YouTube after having been caught on a cell-phone camera.

I haven’t found it, YET.

Strangely, I have a lot of confidence that I will, and I don’t doubt for a moment that His Dis-Honor said that, simply because he has a long and rich history of making disparaging remarks about the Lower Classes, who, unlike himself, actually do the Labor that provides the wealth of Our Nation and more directly, his own Portfolio.

AND, about the soldiers who came back with pieces missing, both of body and mind, from the War of Conquest which benefits, directly, His Stock Portfolio.

One of the ladies, the schoolteacher, is blind. I had located the information she wanted on the Bus Route and schedule changes she had tried to ask the bus driver about.

The bus is the one she and the other lady use to go between their homes and, well, Everywhere Else.

I, as usual, was going to a doctor’s appointment.

One of the other bus Route Cancellation, 3 of them in fact, involve getting within a half-mile of Peak Vista Health Care, the El Paso County Health Department, and a Memorial Health Systems facility across Parkside Drive from Peak Vista.

In other words, facilities that serve the Disabled and Poor.

It’s not really a coincidence that those two groups merge at several points.

Also, in an entry into Jonah’s Museum of Spectacularly Bad Ideas, it seems the budget crunch was made an order of magnitude Worse by the reversal of the usual order of the Financial Universe,

Instead of issuing Municipal Bonds and having OTHER PEOPLE invest in the City, the City has been using Our Tax Money to GAMBLE errr… “invest” in the Stock Market, under the tutelage of Our Own Resident Pre-Chimpanzee Douglas Bruce.

The one who makes Les Freres Bush et menages look like Intellectual Giants by comparison.

I wonders, yes I does, if these Parasite Class Heroes bought, with our money, a whole bunch of those Mortgage Notes?

They could sue me for “Definition of Character” and if they win they would get everything I own.

At a net loss of the vast majority of the costs of hauling it away.

I guess they’re used to losing investments anyway.

There is much grumbling among the Working Class to the tune of a Recall Election to unseat these vermin.

As usual, Jonah speaks only for Jonah, but I think we should take that idea and run with it.

Mark 6TH YEAR of Iraq Occupation with profiteers Boeing, Lockheed, GD and KBR

answer-march-on-pentagon
A.N.S.W.E.R.’s March 21 MARCH ON THE PENTAGON to mark the sixth year of the War in Iraq will be directed not only at the US Department of Defense, but at the war profiteers for whom 2007 was a record year, among them Boeing, Lockheed Martin, General Dynamics and KBR. In Colorado Springs the merchants of death can be visited on one corner.

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On March 21, 2009,
March on the Pentagon and the Corporate War Profiteers

Department of the Defense HeadquartersThe March on the Pentagon on Saturday, March 21 is shaping up to be a dramatic and highly significant demonstration. Many thousands of people are coming to Washington, D.C. to make their voices heard.

March 21 will culminate in a dramatic direct action where hundreds of coffins—representing the multinational victims of militarism, Empire and corporate greed—will be carried and delivered to the headquarters of the Corporate War Profiteers and Merchants of Death.

From the Pentagon, we will march to the nearby giant corporate offices of Boeing Company, Lockheed Martin Corporation, General Dynamics and KBR (the former subsidiary of Halliburton).

The march will start close to the State Department in Washington, D.C. (assemble at 12 noon at 23rd St. and Constitution Ave. NW).

Please make an urgently needed donation today by clicking this link to donate online through our secure server, where you can also find information on how to donate by check.

These are the Corporate War Profiteers and Merchants of Death. They are the vultures who profit off the death and suffering of the people of Iraq, Afghanistan and Palestine, and off of the thousands of U.S. soldiers and marines who have died or been wounded in these wars of aggression. They are anti-worker and anti-union.

The march will be led by a large contingent of veterans and family members of veterans from the Iraq and Afghanistan wars, and from earlier conflicts.

Militarism and Corporate Capitalism
We will march on their slick-and-shiny corporate offices that are located less than a mile from the Pentagon. Their location in the very shadow of the Pentagon speaks volumes about the intimate connection between militarism and corporate capitalism.

When the Pentagon brass retire, they rotate out of their Pentagon offices and directly into the Corporate boardrooms and office suites of the Death Merchants. It is a very cozy and very profitable relationship for the elites—in and out of uniform. They make the profits, others do the bleeding.

Last year was a great year for the Corporate War Profiteers and Merchants of Death. Profits soared even as the rest of the economy neared collapse. The CEOs of the four corporations that we will be visiting on March 21 received more than $319 million in compensation in 2007 alone (and remember, that’s just for four individuals). “We the People” paid the bill for the high tech weapons that were used against occupied people in Iraq, Afghanistan and Palestine. The Corporate Executives laughed all the way to the bank while grieving parents and children buried their loved ones from Baghdad to Kabul to Gaza to Detroit.

A quick examination shows that the CEOs of the Military-Industrial Complex contributed to both the Democratic and Republican Party candidates in almost equal amounts. They favor a system that ensures that politicians will come and go every four years but the military machine—that fusion of industry, banks and the Pentagon brass—will remain as is.

We Need Jobs & Schools – Not War!
The same banks that are being bailed out to the tune of trillions of dollars even while they foreclose families who can’t pay their mortgage debts are double-dipping from the national treasury by making huge profits in their investments in Boeing, Lockheed Martin, General Dynamics and KBR.

War is just good business for these corporate executives. Every F-16 bomber, attack helicopter, cruise missile and Drone bomber is a source of profit. If the wars stopped they would be out of business.

The people of this country are fed up with the status quo. They want decent-paying jobs, and affordable health care and housing for all. Students want to study rather than be driven out by soaring tuition rates. People want a complete—not partial—withdrawal of ALL troops from Iraq. They want the war in Afghanistan to end rather than escalate. They are increasingly opposed to sending $2.6 billion each year to Israel.

People are coming to Washington, D.C. on March 21 from college campuses, high schools, and cities and towns throughout the United States.

It is time for real change. Unless the movement for change stays in the streets, the powerful corporate and banking interests will certainly dominate the politics of this country. That is unacceptable. That is a path toward endless war and occupation abroad, and a massive transfer of wealth to the already rich at home.

All out for March 21! Jobs Not War! Schools Not War! Occupation is a Crime!

From pentagonmarch.org:

Meet the Corporate War Profiteers and Merchants of Death

James Mcnerney Jr BoeingW. James McNerney Jr.
CEO of Boeing.

2007 Total Compensation: $19 million. Value of Boeing Stock Owned: $25.7 million

Facts about Boeing:
Boeing currently produces numerous jets and bombers, including the B-2 Spirit Stealth Bomber and the F/A-22 Raptor, as well as multiple surface-to-air missiles and various bombs. Boeing also produces the bolt-on JDAM (Joint Direct Attack Munition) that turns gravity bombs into “smart” munitions.

Boeing supplies Israel with various weapon systems, including the F-15 Eagle fighter jet and A-64 Apache attack helicopter, as well as numerous types of bombs and missiles. It was these weapons that helped to kill 1,017 Palestinians killed in the Israeli invasion of Gaza in December 2008 and January 2009.

In 2008, Boeing made $2,225,947 in campaign contributions. 58 percent of these contributions were to Democrats, and 42 percent were to Republicans. In 2008, they spent $16,610,000 on lobbying.

Despite massive profits, Boeing opposed raises for plant employees, and attempted to outsource union jobs so that the company could be “more flexible.”

Robert Stevens Lockheed MartinRobert J. Stevens
CEO of Lockheed Martin

2007 Total Compensation: $37 million. Value of Lockheed Martin Stock Owned: $33.8 million

Facts about Lockheed Martin:
Lockheed Martin currently produces the F-117 Stealth Fighter that was used in the brutal “Shock and Awe” bombings of Iraq, as well as the F/A-22 Raptor fighter jet. They also produces various missile systems, including the Hellfire and Javelin, and various nuclear weapon designs. Lockheed supplies fighter jets and other weapon systems to Israel.

Lockheed’s 2008 first-quarter revenue was $9.98 billion–an increase of $700 million from the year prior. By 2015, the F-35 program alone could represent more than $16 billion in annual revenue for the company.

Lockheed’s former vice-president, Bruce Jackson, headed the Committee for the Liberation of Iraq.

In 2005, Lockheed received $65 million every single day of the year from the U.S. government. That year, Lockheed garnered $228 in federal tax money from every household in the United States.

In 2008, Lockheed made $2.6 million in political contributions—49 percent to the Democrats and 51 percent to the Republicans.

In 2004, Lockheed spent nearly $10 million on more than 100 lobbyists. From 2001-2005, only Philip Morris and GE spent more money lobbying Congress. By 2008, that number was $15.8 million.

Nicholas Chabraja General DynamicsNicholas D. Chabraja
CEO of General Dynamics

2007 Total Compensation: $60 million. Value of GD Stock Owned: $154.2 million

Facts about General Dynamics:
General Dynamics currently produces dozens of weapon systems, which include the Stryker Armored Combat Vehicle and the M-1 Abrams Main Battle Tank series, as well as other highly devastating artillery systems and the Trident Nuclear Submarine.

General Dynamics has supplied Israel with various weapon systems, including the F-16 Falcon fighter jet.

In 2008, General Dynamics made $1,682,595 in campaign contributions—58 percent to the Democrats and 42 percent to the Republicans.

Also in 2008, General Dynamics spent $8,562,439 lobbying for government contracts.

Fueled by sales of business jets and military-combat equipment, General Dynamics reported a 32 percent jump in first-quarter profits for 2008, to $573 million. The backlog of work not completed far outpaced revenues, growing by 14 percent to nearly $50 billion.

Analysts think General Dynamics and Mr. Chabraja will do even better next year, noting the “upside potential” of the combat-systems group, which is benefiting from the U.S. Army’s restocking of equipment lost, damaged or worn by operations in Iraq and Afghanistan, in addition to a $12 billion backlog of orders for corporate jets.

William Utt KBRWilliam P. Utt
CEO of Kellogg Brown & Root.

2007 Total Compensation: $3.29 million. Value of KBR Stock Owned: $6.5 million

Facts about KBR:
There are roughly 14,000 KBR employees inside of Iraq that provide logistical support to the U.S. military. KBR has made billions off of “reconstruction” contracts within Iraq.

KBR is the largest non-union construction company in the United States. It has won many contracts with the U.S. government, including $100 million to build a U.S. embassy in Afghanistan, as well as $216 million for the construction of several base camps and training foreign troops from the Republic of Georgia.

Despite at least a dozen former employees alleging they had been raped by co-workers in Iraq and other employees saying co-workers regularly stole gold, artwork, and weapons, KBR remains in the Pentagon’s good graces. In mid-April, it received a 10-year, $150 billion contract to support the military overseas.

CEO William Utt called 2008 an “outstanding year,” saying KBR posted record profitability.

Despite many scandals and controversies, KBR reported that its first quarter net profits for 2008 more than tripled, from $28 million the previous year to $98 million.

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ANSWER Coalition Responds to President Obama’s Iraq Speech of Friday, February 27

With his speech today, President Obama has essentially agreed to continue the criminal occupation of Iraq indefinitely. He announced that there will be an occupation force of 50,000 U.S. troops in Iraq for at least three more years. President Obama used carefully chosen words to avoid a firm commitment to remove the 50,000 occupation troops, even after 2011.

The war in Iraq was illegal. It was aggression. It was based on lies and false rationales. President Obama’s speech today made Bush’s invasion sound like a liberating act and congratulated the troops for “getting the job done.” More than a million Iraqis died and a cruel civil war was set into motion because of the foreign invasion. President Obama did not once criticize the invasion itself.

He has also requested an increase in war spending for Iraq and Afghanistan, and plans to double the number of U.S. troops sent to fight in Afghanistan.

President Obama has asked Congress to provide more than $200 billion for the Iraq and Afghanistan wars over the next two years, in addition to increasing the Pentagon budget by four percent.

Based on President Obama’s new budget, the Pentagon would rank as the world’s 17th largest economy—if it were a country. This new budget increases war spending. Total spending in 2010 would roughly equate to an average of $21,000 a second.

This is not the end of the occupation of Iraq, but rather the continuation of the occupation.

There is only one reason that tens of thousands of troops will remain in Iraq: It is because this is a colonial-type occupation of a strategically important and oil-rich country located in the Middle East where two-thirds of the world’s oil reserve can be found.

Obama’s speech was a major disappointment for anyone who was hoping that Obama would renounce the illegal occupation of Iraq. Today, the U.S. government spends $480 million per day to fund the occupation of Iraq. Even if 100,000 troops are drawn out by August 2010, that means the indefinite occupation of Iraq will cost more than $100 million each day. The continued occupation of Iraq for two years or three years or more makes a complete mockery out of the idea that the Iraqi people control their own destiny. It is a violation of Iraq’s sovereignty and independence.

It is no wonder that John McCain came out to support President Obama’s announced plan on Iraq. McCain was an supporter of former President Bush’s and Vice President Cheney’s war and occupation in Iraq.

Bush, Cheney and Rumsfeld—the architects of regime change in Iraq—never had the goal of indefinitely keeping 150,000 U.S. troops in Iraq. They wanted to subdue the Iraqi people and exercise control with a smaller force. The Iraqi armed resistance prolonged the stationing of 150,000 U.S. troops.

Bush’s goal was domination over Iraq and its oil supplies, and domination over the region. This continues to be the goal of the U.S. political and economic establishment, including that of the new administration.

President Obama decided not to challenge the fundamental strategic orientation. That explains why he kept the Bush team—Secretary of Defense Robert Gates, and Generals Petraeus and Odierno—on the job to oversee and manage the Iraq occupation. They will also manage the widening U.S. war in Afghanistan and the aerial assaults on Pakistan. There have been over 30 U.S. bombing attacks in Pakistan in the last two months.

We are marching on Saturday, March 21 because the people of this country are fed up with the status quo. They want decent-paying jobs, and affordable health care and housing for all. Students want to study rather than be driven out by soaring tuition rates. The majority of people want a complete—not partial—withdrawal of ALL troops from Iraq. They want the war in Afghanistan to end rather than escalate. They are increasingly opposed to sending $2.6 billion each year to Israel and want an end to the colonial occupation of Palestine.

NACA urges nonviolent bank terrorism

NACA urges nonviolent bank terrorism

wesley-edens fortress-investment-groupThe Neighborhood Assistance Corporation of America is suggesting you take your mortgage company protest to the streets, their streets. Specifically the neghborhood where your predatory lender CEO lives. Let his kids meet your kids. Let them ask their daddy why your children are being put out on the street. NACA has listed online all the pertinent names and addresses to facilitate what they call the “Predators Tour,” a sort of involuntary Parade of Homes.

To fight eviction, NACA cautions victims to remain in their homes, and solicit legal help. But when it comes to changing mortgage lending policy, NACA promotes CONFRONTATION and ADVOCACY. They’re calling these posh neighborhood rallies: nonviolent bank terrorism.

NATIONAL CITY MORTGAGE
Peter Raskind, CEO
(216) 222-2000
[email protected]
Net worth: $5 Million
Home value: $1 Million
19212 Shelburne Road, Cleveland, OH 44118

HSBC
Brendan Mcdonagh, CEO
(224) 544-6676
Net worth: $20 Million
Home value: $2.5 Million
1065 Fisher Ln, Winnetka, IL 60093

CERBERUS CAPITAL MANAGEMENT (GMAC)
Stephen Feinberg, CEO
(212) 891-2100
Net worth: $1 Billion
City Address: $19.75 Million
36 East 67th Street, New York, NY 10065
Weekend address: $1.1 Million
35 Craig Court, Stamford, CT 06903

GREENWICH FINANCIAL SERVICES
William Frey, CEO
(203) 862-3600
[email protected]
Home value: $2.2 Million
10 Glenville Road, Greenwich, CT 06831

GOLDMAN SACHS
Lloyd Blankfein, CEO
(212) 902-1000
[email protected]
Net worth: $350 Million
Vacation Home: $6.05 Million
121 Parsonage Lane, Sagaponack, NY 11962
City address: $26 Million
15 Central Park West 1617A, New York, NY 10023

MORGAN STANLEY
John Mack, CEO
(212) 761-4000
Net worth: $400 Million
Home value: $2.75 Million
6 Club Road, Rye, NY 10580
Vacation address 1: $7.8 Million
53 S. Beach Road, Wilmington, NC 28411
Vacation Address 2: $4.34 Million
54 S. Beach Road, Wilmington, NC 28411

BARCLAYS
Robert Diamond, CEO
(212) 412-4000
Net worth: $200 Million
Vacation address: $6.5 Million
3 Lincoln Way, Nantucket, MA 02554

CREDIT SUISSE
Robert Shafir, CEO Americas
(212) 325-2000
Net worth: $20 Million
Vacation home: $3.25 Million
354 Bluff Road, Amagansett, NY 11930

FORTRESS INVESTMENT GROUP, LLC,
Wesley Edens, CEO
(212) 798-6100,
Net Worth: $1.6 Billion
Country address: $1.88 Million
8 Oyster Pond Road, Edgartown, MA 02539
City Address: $7.23 Million
271 Central Park West, New York, NY 10024

Santa bought little; Barack to throw paper dollars into air

homeless in carsThe Christmas shopping season was the worst in four decades with sales slumping everywhere. Wal-Mart and other retailers warn after weak December So our new fearless leader, Barack, plans to continue Bush’s program of throwing deficit dollars into the wind towards the rich. Everybody’s on board the road to bankrupting the US government!

What happens if the printing out of new dollars to give to bankrupt companies ‘fails’? What happens if they still go under? Who will have been placed into holding the debt? Why that would be you and your kids, and you might well not even have your over mortgaged house as a roof over your head, nor have a job to hold onto? Due to the loss of value to the national currency, you could find prices going UP, Up, UP! You will find yourself living in a country sunk into holding trillions of dollars of debt it now owes.

However, since your country’s government will still be holding the balance of the world’s nuclear weaponry, there is a silver radioactive cloud to the future here. What country is going to be collecting on what your government owes them? Sound like a scene from the movie, The Godfather? What’s a little collateral damage here or there since you are a Proud American? What’s a little debt among ‘friends’?

A week or so ago I came across a homeless person living in his car, but he had bumper stickers placed all over it with ‘United We Stand’ as the message. That can be your inspiring message in this rather bleak scenario. At least you will be an American and America does best at passing off misery onto others… others like YOU.

LAs Homeless blog asks, Do we set up car parks for Homeless Living? A good question…

Weathermen for a Democratic Society

Bernadine Dohrn addresses S.D.S. in ChicagoIn 1969, the Radical Youth Movement (RYM) within Students for a Democratic Society (SDS) expelled the passive participants to reconfigure the SDS to Bring the War Home. At left, Bernardine Dohrn uninvites the Progressive Labor Party (PL) and the Worker Student Alliance (WSA) from the Chicago conference. Below is the founding document after which the RYM was renamed.

You Don’t Need A Weatherman
To Know Which Way The Wind Blows

June 18, 1969

Submitted by Karin Asbley, Bill Ayers, Bernardine Dohrn, John Jacobs, Jeff Jones, Gerry Long, Home Machtinger, Jim Mellen, Terry Robbins, Mark Rudd and Steve Tappis.

I. International Revolution

The contradiction between the revolutionary peoples of Asia, Africa and Latin America and the imperialists headed by the United States is the principal contradiction in the contemporary world. The development of this contradiction is promoting the struggle of the people of the whole world against US imperialism and its lackeys.

Lin Piao, Long Live the Victory of People’s War!

People ask, what is the nature of the revolution that we talk about- Who will it be made by, and for, and what are its goals and strategy-

The overriding consideration in answering these questions is that the main struggle going on in the world today is between US imperialism and the national liberation struggles against it. This is essential in defining political matters in the whole world: because it is by far the most powerful, every other empire and petty dictator is in the long run dependent on US imperialism, which has unified, allied with, and defended all of the reactionary forces of the whole world. Thus, in considering every other force or phenomenon, from Soviet imperialism or Israeli imperialism to “workers struggle” in France or Czechoslovakia, we determine who are our friends and who are our enemies according to whether they help US imperialism or fight to defeat it.

So the very first question people in this country must ask in considering the question of revolution is where they stand in relation to the United States as an oppressor nation, and where they stand in relation to the masses of people throughout the world whom US imperialism is oppressing.

The primary task of revolutionary struggle is to solve this principal contradiction on the side of the people of the world. It is the oppressed peoples of the world who have created the wealth of this empire and it is to them that it belongs; the goal of the revolutionary struggle must be the control and use of this wealth in the interests of the oppressed peoples of the world.

It is in this context that we must examine the revolutionary struggles in the United States. We are within the heartland of a worldwide monster, a country so rich from its worldwide plunder that even the crumbs doled out to the enslaved masses within its borders provide for material existence very much above the conditions of the masses of people of the world. The US empire, as a worldwide system, channels wealth, based upon the labor and resources of the rest of the world, into the United States. The relative affluence existing in the United States is directly dependent upon the labor and natural resources of the Vietnamese, the Angolans, the Bolivians and the rest of the peoples of the Third World. All of the United Airlines Astrojets, all of the Holiday Inns, all of Hertz’s automobiles, your television set, car and wardrobe already belong, to a large degree to the people of the rest of the world.

Therefore, any conception of “socialist revolution” simply in terms of the working people of the United States, failing to recognize the full scope of interests of the most oppressed peoples of the world, is a conception of a fight for a particular privileged interest, and is a very dangerous ideology. While the control and use of the wealth of the Empire for the people of the whole world is also in the interests of the vast majority of the people in this country, if the goal is not clear from the start we will further the preservation of class society, oppression, war, genocide, and the complete emiseration of everyone, including the people of the US.

The goal is the destruction of US imperialism and the achievement of a classless world: world communism. Winning state power in the US will occur as a result of the military forces of the US overextending themselves around the world and being defeated piecemeal; struggle within the US will be a vital part of this process, but when the revolution triumphs in the US it will have been made by the people of the whole world. For socialism to be defined in national terms within so extreme and historical an oppressor nation as this is only imperialist national chauvinism on the part of the “movement.”

II. What Is The Black Colony-

Not every colony of people oppressed by imperialism lies outside the boundaries of the US. Black people within North America, brought here 400 years ago as slaves and whose labor, as slaves, built this country, are an internal colony within the confines of the oppressor nation. What this means is that black people are oppressed as a whole people, in the institutions and social relations of the country, apart from simply the consideration of their class position, income, skill, etc., as individuals- What does this colony look like- What is the basis for its common oppression and why is it important-

One historically important position has been that the black colony only consists of the black belt nation in the South, whose fight for national liberation is based on a common land, culture, history and economic life. The corollary of this position is that black people in the rest of the country are a national minority but not actually part of the colony themselves; so the struggle for national liberation is for the black belt, and not all blacks; black people in the north, not actually part of the colony, are part of the working class of the white oppressor nation. In this formulation northern black workers have a “dual role”—one an interest in supporting the struggle in the South, and opposing racism, as members of the national minority; and as northern “white nation” workers whose class interest is in integrated socialism in the north. The consistent version of this line actually calls for integrated organizing of black and white workers in the north along what it calls “class” lines.

This position is wrong; in reality, the black colony does not exist simply as the “black belt nation,” but exists in the country as a whole. The common oppression of black people and the common culture growing out of that history are not based historically or currently on their relation to the territory of the black belt, even though that has been a place of population concentration and has some very different characteristics than the north, particularly around the land question.

Rather, the common features of oppression, history and culture which unify black people as a colony (although originating historically in a common territory apart from the colonizers, i.e., Africa, not the South) have been based historically on their common position as slaves, which since the nominal abolition of slavery has taken the form of caste oppression, and oppression of black people as a people everywhere that they exist. A new black nation, different from the nations of Africa from which it came, has been forged by the common historical experience of importation and slavery and caste oppression; to claim that to be a nation it must of necessity now be based on a common national territory apart from the colonizing nation is a mechanical application of criteria which were and are applicable to different situations.

What is specifically meant by the term caste is that all black people, on the basis of their common slave history, common culture and skin color are systematically denied access to particular job categories (or positions within job categories), social position, etc., regardless of individual skills, talents, money or education. Within the working class, they are the most oppressed section; in the petit bourgeoisie, they are even more strictly confined to the lowest levels. Token exceptions aside, the specific content of this caste oppression is to maintain black people in the most exploitative and oppressive jobs and conditions. Therefore, since the lowest class is the working class, the black caste is almost entirely a caste of the working class, or [holds] positions as oppressed as the lower working-class positions (poor black petit bourgeoisie and farmers); it is a colonial labor caste,, a colony whose common national character itself is defined by their common class position.

Thus, northern blacks do not have a “dual interest”—as blacks on the one hand and “US-nation workers” on the other. They have a single class interest, along with all other black people in the US, as members of the Black Proletarian Colony.

III. The Struggle For Socialist Self-Determination

The struggle of black people—as a colony—is for self-determination, freedom, and liberation from US imperialism. Because blacks have been oppressed and held in an inferior social position as a people, they have a right to decide, organize and act on their common destiny as a people apart from white interference. Black self-determination does not simply apply to determination of their collective political destiny at some future time. It is directly tied to the fact that because all blacks experience oppression in a form that no whites do, no whites are in a position to fully understand and test from their own practice the real situation black people face and the necessary response to it. This is why it is necessary for black people to organize separately and determine their actions separately at each stage of the struggle.

It is important to understand the implications of this. It is not legitimate for whites to organizationally intervene in differences among revolutionary black nationalists. It would be arrogant for us to attack any black organization that defends black people and opposes imperialism in practice. But it is necessary to develop a correct understanding of the Black Liberation struggle within our own organization, where an incorrect one will further racist practice in our relations with the black movement.

In the history of some external colonies, such as China and Vietnam, the struggle for self-determination has had two stages: (1) a united front against imperialism and for New Democracy (which is a joint dictatorship of anti-colonial classes led by the proletariat, the content of which is a compromise between the interests of the proletariat and nationalist peasants, petit bourgeoisie and national bourgeoisie); and (2) developing out of the new democratic stage, socialism.

However, the black liberation struggle in this country will have only one “stage”; the struggle for self-determination will embody within it the struggle for socialism.

As Huey P. Newton has said, “In order to be a revolutionary nationalist, you would of necessity have to be a socialist.” This is because—given the caste quality of oppression-as-a-people-through-a-common-degree-of-exploitation—self-determination requires being free from white capitalist exploitation in the form of inferior (lower caste) jobs, housing, schools, hospitals, prices. In addition, only what was or became in practice a socialist program for self-determination—one which addressed itself to reversing this exploitation—could win the necessary active mass support in the “proletarian colony.”

The program of a united front for new democracy, on the other hand, would not be as thorough, and so would not win as active and determined support from the black masses. The only reason for having such a front would be where the independent petit bourgeois forces which it would bring in would add enough strength to balance the weakening of proletarian backing. This is not the case: first, because much of the black petit bourgeoisie is actually a “comprador” petit bourgeoisie (like so-called black capitalists who are promoted by the power structure to seem independent but are really agents of white monopoly capital), who would never fight as a class for any real self-determination; and secondly, because many black petit bourgeoisie, perhaps most, while not having a class interest in socialist self-determination, are close enough to the black masses in the oppression and limitations on their conditions that they will support many kinds of self-determination issues, and, especially when the movement is winning, can be won to support full (socialist) self-determination. For the black movement to work to maximize this support from the petit bourgeoisie is correct; but it is in no way a united front where it is clear that the Black Liberation Movement should not and does not modify the revolutionary socialist content of its stand to win that support.

From /New Left Notes/, June 18, 1969

IV. Black Liberation Means Revolution

What is the relationship of the struggle for black self-determination to the whole worldwide revolution to defeat US imperialism and internationalize its resources toward the goal of creating a classless world-

No black self-determination could be won which would not result in a victory for the international revolution as a whole. The black proletarian colony, being dispersed as such a large and exploited section of the work force, is essential to the survival of imperialism. Thus, even if the black liberation movement chose to try to attain self-determination in the form of a separate country (a legitimate part of the right to self-determination), existing side by side with the US, imperialism could not survive if they won it—and so would never give up without being defeated. Thus, a revolutionary nationalist movement could not win without destroying the state power of the imperialists; and it is for this reason that the black liberation movement, as a revolutionary nationalist movement for self-determination, is automatically in and of itself an inseparable part of the whole revolutionary struggle against US imperialism and for international socialism.

However, the fact that black liberation depends on winning the whole revolution does not mean that it depends on waiting for and joining with a mass white movement to do it. The genocidal oppression of black people must be ended, and does not allow any leisure time to wait; if necessary, black people could win self-determination, abolishing the whole imperialist system and seizing state power to do it, without this white movement, although the cost among whites and blacks both would be high.

Blacks could do it alone if necessary because of their centralness to the system, economically and geo-militarily, and because of the level of unity, commitment, and initiative which will be developed in waging a people’s war for survival and national liberation. However, we do not expect that they will have to do it alone, not only because of the international situation, but also because the real interests of masses of oppressed whites in this country lie with the Black Liberation struggle, and the conditions for understanding and fighting for these interests grow with the deepening of the crises. Already, the black liberation movement has carried with it an upsurge of revolutionary consciousness among white youth; and while there are no guarantees, we can expect that this will extend and deepen among all oppressed whites.

To put aside the possibility of blacks winning alone leads to the racist position that blacks should wait for whites and are dependent on whites acting for them to win. Yet the possibility of blacks winning alone cannot in the least be a justification for whites failing to shoulder the burden of developing a revolutionary movement among whites. If the first error is racism by holding back black liberation, this would be equally racist by leaving blacks isolated to take on the whole fight—and the whole cost—for everyone.

It is necessary to defeat both racist tendencies: (1) that blacks shouldn’t go ahead with making the revolution, and (2) that blacks should go ahead alone with making it. The only third path is to build a white movement which will support the blacks in moving as fast as they have to and are able to, and still itself keep up with that black movement enough so that white revolutionaries share the cost and the blacks don’t have to do the whole thing alone. Any white who does not follow this third path is objectively following one of the other two (or both) and is objectively racist.

V. Anti-Imperialist Revolution And The United Front

Since the strategy for defeating imperialism in semi-feudal colonies has two stages, the new democratic stage of a united front to throw out imperialism and then the socialist stage, some people suggest two stages for the US too—one to stop imperialism, the anti-imperialist stage, and another to achieve the dictatorship of the proletariat, the socialist stage. It is no accident that even the proponents of this idea can’t tell you what it means. In reality, imperialism is a predatory international stage of capitalism. Defeating imperialism within the US couldn’t possibly have the content, which it could in a semi-feudal country, of replacing imperialism with capitalism or new democracy; when imperialism is defeated in the US, it will be replaced by socialism—nothing else. One revolution, one replacement process, one seizure of state power—the anti-imperialist revolution and the socialist revolution, one and the same stage. To talk of this as two separate stages, the struggle to overthrow imperialism and the struggle for socialist revolution, is as crazy as if Marx had talked about the proletarian socialist revolution as a revolution of two stages, one the overthrow of capitalist state power, and second the establishment of socialist state power.

Along with no two stages, there is no united front with the petit bourgeoisie, because its interests as a class aren’t for replacing imperialism with socialism. As far as people within this country are concerned, the international war against imperialism is the same task as the socialist revolution, for one overthrow of power here. There is no “united front” for socialism here.

One reason people have considered the “united front” idea is the fear that if we were talking about a one-stage socialist revolution we would fail to organize maximum possible support among people, like some petit bourgeoisie, who would fight imperialism on a particular issue, but weren’t for revolution. When the petit bourgeoisie’s interest is for fighting imperialism on a particular issue, but not for overthrowing it and replacing it with socialism, it is still contributing to revolution to that extent—not to some intermediate thing which is not imperialism and not socialism. Someone not for revolution is not for actually defeating imperialism either, but we still can and should unite with them on particular issues. But this is not a united front (and we should not put forth some joint “united front” line with them to the exclusion of our own politics), because their class position isn’t against imperialism as a system. In China, or Vietnam, the petit bourgeoisie’s class interests could be for actually winning against imperialism; this was because their task was driving it out, not overthrowing its whole existence. For us here, “throwing it out” means not from one colony, but all of them, throwing it out of the world, the same thing as overthrowing it.

VI. International Strategy

What is the strategy of this international revolutionary movement- What are the strategic weaknesses of the imperialists which make it possible for us to win- Revolutionaries around the world are in general agreement on the answer, which Lin Piao describes in the following way:

US imperialism is stronger, but also more vulnerable, than any imperialism of the past. It sets itself against the people of the whole world, including the people of the United States. Its human, military, material and financial resources are far from sufficient for the realization of its ambition of domination over the whole world. US imperialism has further weakened itself by occupying so many places in the world, overreaching itself, stretching its fingers out wide and dispersing its strength, with its rear so far away and its supply lines so long.

—/Long Live the Victory of People’s War/

The strategy which flows from this is what Ché called “creating two, three, many Vietnams”—to mobilize the struggle so sharply in so many places that the imperialists cannot possibly deal with it all. Since it is essential to their interests, they will try to deal with it all, and will be defeated and destroyed in the process.

In defining and implementing this strategy, it is clear that the vanguard (that is, the section of the people who are in the forefront of the struggle and whose class interests and needs define the terms and tasks of the revolution) of the “American Revolution” is the workers and oppressed peoples of the colonies of Asia, Africa and Latin America. Because of the level of special oppression of black people as a colony, they reflect the interests of the oppressed people of the world from within the borders of the United States; they are part of the Third World and part of the international revolutionary vanguard.

The vanguard role of the Vietnamese and other Third World countries in defeating US imperialism has been clear to our movement for some time. What has not been so clear is the vanguard role black people have played, and continue to play, in the development of revolutionary consciousness and struggle within the United States. Criticisms of the black liberation struggle as being “reactionary” or of black organizations on campus as being conservative or “racist” very often express this lack of understanding. These ideas are incorrect and must be defeated if a revolutionary movement is going to be built among whites.

The black colony, due to its particular nature as a slave colony, never adopted a chauvinist identification with America as an imperialist power, either politically or culturally. Moreover, the history of black people in America has consistently been one of the greatest overall repudiations of and struggle against the state. From the slave ships from Africa to the slave revolts, the Civil War, etc., black people have been waging a struggle for survival and liberation. In the history of our own movement this has also been the case: the civil rights struggles, initiated and led by blacks in the South; the rebellions beginning with Harlem in 1964 and Watts in 1965 through Detroit and Newark in 1967; the campus struggles at all-black schools in the South and struggles led by blacks on campuses all across the country. As it is the blacks—along with the Vietnamese and other Third World people—who are most oppressed by US imperialism, their class interests are most solidly and resolutely committed to waging revolutionary struggle through to its completion. Therefore it is no surprise that time and again, in both political content and level of consciousness and militancy, it has been the black liberation movement which has upped the ante and defined the terms of the struggle.

What is the relationship of this “black vanguard” to the “many Vietnams” around the world- Obviously this is an example of our strategy that different fronts reinforce each other. The fact that the Vietnamese are winning weakens the enemy, advancing the possibilities for the black struggle, etc. But it is important for us to understand that the interrelationship is more than this. Black people do not simply “choose” to intensify their struggle because they want to help the Vietnamese, or because they see that Vietnam heightens the possibilities for struggle here. The existence of any one Vietnam, especially a winning one, spurs on others not only through consciousness and choice, but through need, because it is a political and economic, as well as military, weakening of capitalism, and this means that to compensate, the imperialists are forced to intensify their oppression of other people.

Thus the loss of China and Cuba and the loss now of Vietnam not only encourages other oppressed peoples (such as the blacks) by showing what the alternative is and that it can be won, but also costs the imperialists billions of dollars which they then have to take out of the oppression of these other peoples. Within this country increased oppression falls heavier on the most oppressed sections of the population, so that the condition of all workers is worsened through rising taxes, inflation and the fall of real wages, and speedup. But this increased oppression falls heaviest on the most oppressed, such as poor white workers and, especially, the blacks, for example through the collapse of state services like schools, hospitals and welfare, which naturally hits the hardest at those most dependent on them.

This deterioration pushes people to fight harder to even try to maintain their present level. The more the ruling class is hurt in Vietnam, the harder people will be pushed to rebel and to fight for reforms. Because there exist successful models of revolution in Cuba, Vietnam, etc., these reform struggles will provide a continually larger and stronger base for revolutionary ideas. Because it needs to maximize profits by denying the reforms, and is aware that these conditions and reform struggles will therefore lead to revolutionary consciousness, the ruling class will see it more and more necessary to come down on any motion at all, even where it is not yet highly organized or conscious. It will come down faster on black people, because their oppression is increasing fastest, and this makes their rebellion most thorough and most dangerous, and fastest growing. It is because of this that the vanguard character and role of the black liberation struggle will be increased and intensified, rather than being increasingly equal to and merged into the situation and rebellion of oppressed white working people and youth. The crises of imperialism (the existence of Vietnam and especially that it’s winning) will therefore create a “Black Vietnam” within the US.

Given that black self-determination would mean fully crushing the power of the imperialists, this “Vietnam” has certain different characteristics than the external colonial wars. The imperialists will never “get out of the US” until their total strength and every resource they can bring to bear has been smashed; so the Black Vietnam cannot win without bringing the whole thing down and winning for everyone. This means that this war of liberation will be the most protracted and hardest fought of all.

It is in this context that the question of the South must be dealt with again, not as a question of whether or not the black nation, black colony, exists there, as opposed to in the North as well, but rather as a practical question of strategy and tactics: Can the black liberation struggle—the struggle of all blacks in the country—gain advantage in the actual war of liberation by concentrating on building base areas in the South in territory with a concentration of black population-

This is very clearly a different question than that of “where the colony is,” and to this question the “yes” answer is an important possibility. If the best potential for struggle in the South were realized, it is fully conceivable and legitimate that the struggle there could take on the character of a fight for separation; and any victories won in that direction would be important gains for the national liberation of the colony as a whole. However, because the colony is dispersed over the whole country, and not just located in the black belt, winning still means the power and liberation of blacks in the whole country.

Thus, even the winning of separate independence in the South would still be one step toward self-determination, and not equivalent to winning it; which, because of the economic position of the colony as a whole, would still require overthrowing the state power of the imperialists, taking over production and the whole economy and power, etc.

VII. The Revolutionary Youth Movement: Class Analysis

The revolutionary youth movement program was hailed as a transition strategy, which explained a lot of our past work and pointed to new directions for our movement. But as a transition to what- What was our overall strategy- Was the youth movement strategy just an organizational strategy because SDS is an organization of youth and we can move best with other young people-

We have pointed to the vanguard nature of the black struggle in this country as part of the international struggle against American imperialism, and the impossibility of anything but an international strategy for winning. Any attempt to put forth a strategy which, despite internationalist rhetoric, assumes a purely internal development to the class struggle in this country, is incorrect. The Vietnamese (and the Uruguayans and the Rhodesians) and the blacks and Third World peoples in this country will continue to set the terms for class struggle in America.

In this context, why an emphasis on youth- Why should young people be willing to fight on the side of Third World peoples- Before dealing with this question about youth, however, there follows a brief sketch of the main class categories in the white mother country which we think are important, and [which] indicate our present estimation of their respective class interests (bearing in mind that the potential for various sections to understand and fight for the revolution will vary according to more than just their real class interests).

Most of the population is of the working class, by which we mean not simply industrial or production workers, nor those who are actually working, but the whole section of the population which doesn’t own productive property and so lives off of the sale of its labor power. This is not a metaphysical category either in terms of its interests, the role it plays, or even who is in it, which very often is difficult to determine.

As a whole, the long-range interests of the non-colonial sections of the working class lie with overthrowing imperialism, with supporting self-determination for the oppressed nations (including the black colony), with supporting and fighting for international socialism. However, virtually all of the white working class also has short-range privileges from imperialism, which are not false privileges but very real ones which give them an edge of vested interest and tie them to a certain extent to the imperialists, especially when the latter are in a relatively prosperous phase. When the imperialists are losing their empire, on the other hand, these short-range privileged interests are seen to be temporary (even though the privileges may be relatively greater over the faster-increasing emiseration of the oppressed peoples). The long-range interests of workers in siding with the oppressed peoples are seen more clearly in the light of imperialism’s impending defeat. Within the whole working class, the balance of anti-imperialist class interests with white mother country short-term privilege varies greatly.

First, the most oppressed sections of the mother country working class have interests most clearly and strongly anti-imperialist. Who are the most oppressed sections of the working class- Millions of whites who have as oppressive material conditions as the blacks, or almost so: especially poor southern white workers; the unemployed or semi-employed, or those employed at very low wages for long hours and bad conditions, who are non-unionized or have weak unions; and extending up to include much of unionized labor which has it a little better off but still is heavily oppressed and exploited. This category covers a wide range and includes the most oppressed sections not only of production and service workers but also some secretaries, clerks, etc. Much of this category gets some relative privileges (i.e. benefits) from imperialism, which constitute some material basis for being racist or pro-imperialist; but overall it is itself directly and heavily oppressed, so that in addition to its long-range class interest on the side of the people of the world, its immediate situation also constitutes a strong basis for sharpening the struggle against the state and fighting through to revolution.

Secondly, there is the upper strata of the working class. This is also an extremely broad category, including the upper strata of unionized skilled workers and also most of the “new working class” of proletarianized or semi-proletarianized “intellect workers.” There is no clearly marked dividing line between the previous section and this one; our conclusions in dealing with “questionable” strata will in any event have to come from more thorough analysis of particular situations. The long-range class interests of this strata, like the previous section of more oppressed workers, are for the revolution and against imperialism. However, it is characterized by a higher level of privilege relative to the oppressed colonies, including the blacks, and relative to more oppressed workers in the mother country; so that there is a strong material basis for racism and loyalty to the system. In a revolutionary situation, where the people’s forces were on the offensive and the ruling class was clearly losing, most of this upper strata of the working class will be winnable to the revolution, while at least some sections of it will probably identify their interests with imperialism till the end and oppose the revolution (which parts do which will have to do with more variables than just the particular level of privilege). The further development of the situation will clarify where this section will go, although it is clear that either way we do not put any emphasis on reaching older employed workers from this strata at this time. The exception is where they are important to the black liberation struggle, the Third World, or the youth movement in particular situations, such as with teachers, hospital technicians, etc., in which cases we must fight particularly hard to organize them around a revolutionary line of full support for black liberation and the international revolution against US imperialism. This is crucial because the privilege of this section of the working class has provided and will provide a strong material basis for national chauvinist and social democratic ideology within the movement, such as anti-internationalist concepts of “student power” and “workers control.” Another consideration in understanding the interests of this segment is that, because of the way it developed and how its skills and its privileges were “earned over time,” the differential between the position of youth and older workers is in many ways greater for this section than any other in the population. We should continue to see it as important to build the revolutionary youth movement among the youth of this strata.

Thirdly, there are “middle strata” who are not petit bourgeoisie, who may even technically be upper working class, but who are so privileged and tightly tied to imperialism through their job roles that they are agents of imperialism. This section includes management personnel, corporate lawyers, higher civil servants, and other government agents, army officers, etc. Because their job categories require and promote a close identification with the interests of the ruling class, these strata are enemies of the revolution.

Fourthly, and last among the categories we’re going to deal with, is the petit bourgeoisie. This class is different from the middle level described above in that it has the independent class interest which is opposed to both monopoly power and to socialism. The petit bourgeoisie consists of small capital—both business and farms—and self-employed tradesmen and professionals (many professionals work for monopoly capital, and are either the upper level of the working class or in the dent class interests-anti-monopoly capital, but for capitalism rather than socialism—gives it a political character of some opposition to “big government,” like its increased spending and taxes and its totalitarian extension of its control into every aspect of life, and to “big labor,” which is at this time itself part of the monopoly capitalist power structure. The direction which this opposition takes can be reactionary or reformist. At this time the reformist side of it is very much mitigated by the extent to which the independence of the petit bourgeoisie is being undermined. Increasingly, small businesses are becoming extensions of big ones, while professionals and self-employed tradesmen less and less sell their skills on their own terms and become regular employees of big firms. This tendency does not mean that the reformist aspect is not still present; it is, and there are various issues, like withdrawing from a losing imperialist war, where we could get support from them. On the question of imperialism as a system, however, their class interests are generally more for it than for overthrowing it, and it will be the deserters from their class who stay with us.

VIII. Why A Revolutionary Youth Movement-

In terms of the above analysis, most young people in the US are part of the working class. Although not yet employed, young people whose parents sell their labor power for wages, and more important who themselves expect to do the same in the future—or go into the army or be unemployed—are undeniably members of the working class. Most kids are well aware of what class they are in, even though they may not be very scientific about it. So our analysis assumes from the beginning that youth struggles are, by and large, working-class struggles. But why the focus now on the struggles of working-class youth rather than on the working class as a whole-

The potential for revolutionary consciousness does not always correspond to ultimate class interest, particularly when imperialism is relatively prosperous and the movement is in an early stage. At this stage, we see working-class youth as those most open to a revolutionary movement which sides with the struggles of Third World people; the following is an attempt to explain a strategic focus on youth for SDS.

In general, young people have less stake in a society (no family, fewer debts, etc.), are more open to new ideas (they have not been brainwashed for so long or so well), and are therefore more able and willing to move in a revolutionary direction. Specifically in America, young people have grown up experiencing the crises in imperialism. They have grown up along with a developing black liberation movement, with the liberation of Cuba, the fights for independence in Africa and the war in Vietnam. Older people grew up during the fight against fascism, during the Cold War, the smashing of the trade unions, McCarthy, and a period during which real wages consistently rose—since 1965 disposable real income has decreased slightly, particularly in urban areas where inflation and increased taxation have bitten heavily into wages. This crisis in imperialism affects all parts of the society. America has had to militarize to protect and expand its empire; hence the high draft calls and the creation of a standing army of three and a half million, an army which still has been unable to win in Vietnam. Further, the huge defense expenditures—required for the defense of the empire and at the same time a way of making increasing profits for the defense industries—have gone hand in hand with the urban crisis around welfare, the hospitals, the schools, housing, air and water pollution. The State cannot provide the services it has been forced to assume responsibility for, and needs to increase taxes and to pay its growing debts while it cuts services and uses the pigs to repress protest. The private sector of the economy can’t provide jobs, particularly unskilled jobs. The expansion of the defense and education industries by the State since World War II is in part an attempt to pick up the slack, though the inability to provide decent wages and working conditions for “public” jobs is more and more a problem.

As imperialism struggles to hold together this decaying social fabric, it inevitably resorts to brute force and authoritarian ideology. People, especially young people, more and more find themselves in the iron grip of authoritarian institutions. Reaction against the pigs or teachers in the schools, welfare pigs or the army, is generalizable and extends beyond the particular repressive institution to the society and the State as a whole. The legitimacy of the State is called into question for the first time in at least 30 years, and the anti-authoritarianism which characterizes the youth rebellion turns into rejection of the State, a refusal to be socialized into American society. Kids used to try to beat the system from inside the army or from inside the schools; now they desert from the army and burn down the schools.

The crisis in imperialism has brought about a breakdown in bourgeois social forms, culture and ideology. The family falls apart, kids leave home, women begin to break out of traditional “female” and “mother” roles. There develops a “generation gap” and a “youth problem.” Our heroes are no longer struggling businessmen, and we also begin to reject the ideal career of the professional and look to Mao, Chef, the Panthers, the Third World, for our models, for motion. We reject the elitist, technocratic bullshit that tells us only experts can rule, and look instead to leadership from the people’s war of the Vietnamese. Chuck Berry, Elvis, the Temptations brought us closer to the “people’s culture” of Black America. The racist response to the civil rights movement revealed the depth of racism in America, as well as the impossibility of real change through American institutions. And the war against Vietnam is not “the heroic war against the Nazis”; it’s the big lie, with napalm burning through everything we had heard this country stood for. Kids begin to ask questions: Where is the Free World- And who do the pigs protect at home-

The breakdown in bourgeois culture and concomitant anti-authoritarianism is fed by the crisis in imperialism, but also in turn feeds that crisis, exacerbates it so that people no longer merely want the plastic ’50s restored, but glimpse an alternative (like inside the Columbia buildings) and begin to fight for it. We don’t want teachers to be more kindly cops; we want to smash cops, and build a new life.

The contradictions of decaying imperialism fall hardest on youth in four distinct areas—the schools, jobs, the draft and the army, and the pigs and the courts. (A) In jail-like schools, kids are fed a mish-mash of racist, male chauvinist, anti-working class, anti-communist lies while being channeled into job and career paths set up according to the priorities of monopoly capital. At the same time, the State is becoming increasingly incapable of providing enough money to keep the schools going at all. (B) Youth unemployment is three times average unemployment. As more jobs are threatened by automation or the collapse of specific industries, unions act to secure jobs for those already employed. New people in the labor market can’t find jobs, job stability is undermined (also because of increasing speed-up and more intolerable safety conditions) and people are less and less going to work in the same shop for 40 years. And, of course, when they do find jobs, young people get the worst ones and have the least seniority. (C) There are now two and a half million soldiers under thirty who are forced to police the world, kill and be killed in wars of imperialist domination. And (D) as a “youth problem” develops out of all this, the pigs and courts enforce curfews, set up pot busts, keep people off the streets, and repress any youth motion whatsoever.

In all of this, it is not that life in America is toughest for youth or that they are the most oppressed. Rather, it is that young people are hurt directly—and severely—by imperialism. And, in being less tightly tied to the system, they are more “pushed” to join the black liberation struggle against US imperialism. Among young people there is less of a material base for racism—they have no seniority, have not spent 20 years securing a skilled job (the white monopoly of which is increasingly challenged by the black liberation movement), and aren’t just about to pay off a 25-year mortgage on a house which is valuable because it’s located in a white neighborhood.

While these contradictions of imperialism fall hard on all youth, they fall hardest on the youth of the most oppressed (least privileged) sections of the working class. Clearly these youth have the greatest material base for struggle. They are the ones who most often get drafted, who get the worst jobs if they get any, who are most abused by the various institutions of social control, from the army to decaying schools, to the pigs and the courts. And their day-to-day existence indicates a potential for militancy and toughness. They are the people whom we can reach who at this stage are most ready to engage in militant revolutionary struggle.

The point of the revolutionary youth movement strategy is to move from a predominant student elite base to more oppressed (less privileged) working-class youth as a way of deepening and expanding the revolutionary youth movement—not of giving up what we have gained, not giving up our old car for a new Dodge. This is part of a strategy to reach the entire working class to engage in struggle against imperialism; moving from more privileged sections of white working-class youth to more oppressed sections to the entire working class as a whole, including importantly what has classically been called the industrial proletariat. But this should not be taken to mean that there is a magic moment, after we reach a certain percentage of the working class, when all of a sudden we become a working-class movement. We are already that if we put forward internationalist proletarian politics. We also don’t have to wait to become a revolutionary force. We must be a self-conscious revolutionary force from the beginning, not be a movement which takes issues to some mystical group—”THE PEOPLE”—who will make the revolution. We must be a revolutionary movement of people understanding the necessity to reach more people, all working people, as we make the revolution.

The above arguments make it clear that it is both important and possible to reach young people wherever they are—not only in the shops, but also in the schools, in the army and in the streets—so as to recruit them to fight on the side of the oppressed peoples of the world. Young people will be part of the International Liberation Army. The necessity to build this International Liberation Army in America leads to certain priorities in practice for the revolutionary youth movement which we should begin to apply this summer. …

IX. Imperialism Is The Issue

The Communists are distinguished from the other working-class parties by this only: 1. In the national struggles of the proletariat of different countries, they point out and bring to the front the common interests of the entire proletariat, independently of all nationality. 2. In the various stages of development which the struggle of the working-class against the bourgeoisie has to pass through, they always and everywhere represent the interests of the movement as a whole.”

—Communist Manifesto

How do we reach youth; what kinds of struggles do we build; how do we make a revolution- What we have tried to lay out so far is the political content of the consciousness which we want to extend and develop as a mass consciousness: the necessity to build our power as part of the whole international revolution to smash the state power of the imperialists and build socialism. Besides consciousness of this task, we must involve masses of people in accomplishing it. Yet we are faced with a situation in which almost all of the people whose interests are served by these goals, and who should be, or even are, sympathetic to revolution, neither understand the specific tasks involved in making a revolution nor participate in accomplishing them. On the whole, people don’t join revolutions just because revolutionaries tell them to. The oppression of the system affects people in particular ways, and the development of political consciousness and participation begins with particular problems, which turn into issues and struggles. We must transform people’s everyday problems, and the issues and struggles growing out of them, into revolutionary consciousness, active and conscious opposition to racism and imperialism.

This is directly counterposed to assuming that struggles around immediate issues will lead naturally over time to struggle against imperialism. It has been argued that since people’s oppression is due to imperialism and racism, then any struggle against immediate oppression is “objectively anti-imperialist,” and the development of the fight against imperialism is a succession of fights for reforms. This error is classical economism.

A variant of this argument admits that this position is often wrong, but suggests that since imperialism is collapsing at this time, fights for reforms become “objectively anti-imperialist.” At this stage of imperialism there obviously will be more and more struggles for the improvement of material conditions, but that is no guarantee of increasing internationalist proletarian consciousness.

On the one hand, if we, as revolutionaries, are capable of understanding the necessity to smash imperialism and build socialism, then the masses of people who we want to fight along with us are capable of that understanding. On the other hand, people are brainwashed and at present don’t understand it; if revolution is not raised at every opportunity, then how can we expect people to see it in their interests, or to undertake the burdens of revolution- We need to make it clear from the very beginning that we are about revolution. But if we are so careful to avoid the dangers of reformism, how do we relate to particular reform struggles- We have to develop some sense of how to relate each particular issue to the revolution.

In every case, our aim is to raise anti-imperialist and anti-racist consciousness and tie the struggles of working-class youth (and all working people) to the struggles of Third World people, rather than merely joining fights to improve material conditions, even though these fights are certainly justified. This is not to say that we don’t take immediate fights seriously, or fight hard in them, but that we are always up front with our politics, knowing that people in the course of struggle are open to a class line, ready to move beyond narrow self-interest.

It is in this sense that we point out that the particular issue is not the issue, is important insofar as it points to imperialism as an enemy that has to be destroyed. Imperialism is always the issue. Obviously, the issue cannot be a good illustration, or a powerful symbol, if it is not real to people, if it doesn’t relate to the concrete oppression that imperialism causes. People have to be (and are being) hurt in some material way to understand the evils of imperialism, but what we must stress is the systematic nature of oppression and the way in which a single manifestation of imperialism makes clear its fundamental nature. At Columbia it was not the gym, in particular, which was important in the struggle, but the way in which the gym represented, to the people of Harlem and Columbia, Columbia’s imperialist invasion of the black colony. Or at Berkeley, though people no doubt needed a park (as much, however, as many other things-), what made the struggle so important was that people, at all levels of militancy, consciously saw themselves attacking private property and the power of the State. And the Richmond Oil Strike was exciting because the militant fight for improvement of material conditions was part and parcel of an attack on international monopoly capital. The numbers and militancy of people mobilized for these struggles has consistently surprised the left, and pointed to the potential power of a class-conscious mass movement.

The masses will fight for socialism when they understand that reform fights, fights for improvement of material conditions, cannot be won under imperialism. With this understanding, revolutionaries should never put forth a line which fosters the illusion that imperialism will grant significant reforms. We must engage in struggles forthrightly as revolutionaries, so that it will be clear to anyone we help to win gains that the revolution rather than imperialism is responsible for them. This is one of the strengths of the Black Panther Party Breakfast for Children Program. It is “socialism in practice” by revolutionaries with the “practice” of armed self-defense and a “line” which stresses the necessity of overthrowing imperialism and seizing state power. Probably the American Friends Service Committee serves more children breakfast, but it is the symbolic value of the program in demonstrating what socialism will do for people which makes the Black Panther Program worthwhile.

What does it mean to organize around racism and imperialism in specific struggles- In the high schools (and colleges) at this time, it means putting forth a mass line to close down the schools, rather than to reform them, so that they can serve the people. The reason for this line is not that under capitalism the schools cannot serve the people, and therefore it is silly or illusory to demand that. Rather, it is that kids are ready for the full scope of militant struggle, and already demonstrate a consciousness of imperialism, such that struggles for a people-serving school would not raise the level of their struggle to its highest possible point. Thus, to tell a kid in New York that imperialism tracks him and thereby oppresses him is often small potatoes compared to his consciousness that imperialism oppresses him by jailing him, pigs and all, and the only thing to do is break out and tear up the jail. And even where high school kids are not yet engaged in such sharp struggle, it is crucial not to build consciousness only around specific issues such as tracking or ROTC or racist teachers, but to use these issues to build toward the general consciousness that the schools should be shut down. It may be important to present a conception of what schools should or could be like (this would include the abolition of the distinction between mental and physical work), but not offer this total conception as really possible to fight for in any way but through revolution.

A mass line to close down the schools or colleges does not contradict demands for open admissions to college or any other good reform demand. Agitational demands for impossible, but reasonable, reforms are a good way to make a revolutionary point. The demand for open admissions by asserting the alternative to the present (school) system exposes its fundamental nature—that it is racist, class-based, and closed—pointing to the only possible solution to the present situation: “Shut it down!” The impossibility of real open admissions—all black and brown people admitted, no flunk-out, full scholarship, under present conditions—is the best reason (that the schools show no possibility for real reform) to shut the schools down. We should not throw away the pieces of victories we gain from these struggles, for any kind of more open admissions means that the school is closer to closing down (it costs the schools more, there are more militant blacks and browns making more and more fundamental demands on the schools, and so on). Thus our line in the schools, in terms of pushing any good reforms, should be, Open them up and shut them down!”

The spread of black caucuses in the shops and other workplaces throughout the country is an extension of the black liberation struggle. These groups have raised and will continue to raise anti-racist issues to white workers in a sharper fashion than any whites ever have or could raise them. Blacks leading struggles against racism made the issue unavoidable, as the black student movement leadership did for white students. At the same time these black groups have led fights which traditional trade-union leaders have consistently refused to lead—fights against speed-up and for safety (issues which have become considerably more serious in the last few years), forcing white workers, particularly the more oppressed, to choose in another way between allegiance to the white mother country and black leadership. As white mother country radicals we should try to be in shops, hospitals, and companies where there are black caucuses, perhaps organizing solidarity groups, but at any rate pushing the importance of the black liberation struggle to whites, handing out Free Huey literature, bringing guys out to Panther rallies, and so on. Just one white guy could play a crucial role in countering UAW counter-insurgency.

We also need to relate to workplaces where there is no black motion but where there are still many young white workers. In the shops the crisis in imperialism has come down around speed-up, safety, and wage squeeze—due to higher taxes and increased inflation, with the possibility of wage-price controls being instituted.

We must relate this exploitation back to imperialism. The best way to do this is probably not caucuses in the shops, but to take guys to citywide demonstrations, Newsreels, even the latest administration building, to make the Movement concrete to them and involve them in it. Further, we can effect consciousness and pick up people through agitational work at plants, train stops, etc., selling Movements, handing out leaflets about the war, the Panthers, the companies’ holdings overseas or relations to defense industry, etc.

After the Richmond strike, people leafleted about demonstrations in support of the Curaçao Oil workers, Free Huey May Day, and People’s Park.

SDS has not dealt in any adequate way with the women question; the resolution passed at Ann Arbor did not lead to much practice, nor has the need to fight male supremacy been given any programmatic direction within the RYM. As a result, we have a very limited understanding of the tie-up between imperialism and the women question, although we know that since World War II the differential between men’s and women’s wages has increased, and guess that the breakdown of the family is crucial to the woman question. How do we organize women against racism and imperialism without submerging the principled revolutionary question of women’s liberation- We have no real answer, but we recognize the real reactionary danger of women’s groups that are not self-consciously revolutionary and anti-imperialist.

To become more relevant to the growing women’s movement, SDS women should begin to see as a primary responsibility the self-conscious organizing of women. We will not be able to organize women unless we speak directly to their own oppression. This will become more and more critical as we work with more oppressed women. Women who are working and women who have families face male supremacy continuously in their day-to-day lives; that will have to be the starting point in their politicization. Women will never be able to undertake a full revolutionary role unless they break out of their woman’s role. So a crucial task for revolutionaries is the creation of forms of organization in which women will be able to take on new and independent roles. Women’s self-defense groups will be a step toward these organizational forms, as an effort to overcome women’s isolation and build revolutionary self-reliance.

The cultural revolt of women against their “role” in imperialism (which is just beginning to happen in a mass way) should have the same sort of revolutionary potential that the RYM claimed for “youth culture.” The role of the “wife-mother” is reactionary in most modern societies, and the disintegration of that role under imperialism should make women more sympathetic to revolution.

In all of our work we should try to formulate demands that not only reach out to more oppressed women, but ones which tie us to other ongoing struggles, in the way that a daycare center at U of C [University of Chicago] enabled us to tie the women’s liberation struggle to the Black Liberation struggle.

There must be a strong revolutionary women’s movement, for without one it will be impossible for women’s liberation to be an important part of the revolution. Revolutionaries must be made to understand the full scope of women’s oppression, and the necessity to smash male supremacy.

X. Neighborhood-Based Citywide Youth Movement

One way to make clear the nature of the system and our tasks working off of separate struggles is to tie them together with each other: to show that we’re one “multi-issue” movement, not an alliance of high school and college students, or students and GIs, or youth and workers, or students and the black community. The way to do this is to build organic regional or sub-regional and citywide movements, by regularly bringing people in one institution or area to fights going on on other fronts.

This works on two levels. Within a neighborhood, by bringing kids to different fights and relating these fights to each other—high school stuff, colleges, housing, welfare, shops—we begin to build one neighborhood-based multi-issue movement off of them. Besides actions and demonstrations, we also pull different people together in day-to-day film showings, rallies, for speakers and study groups, etc. On a second level, we combine neighborhood “bases” into a citywide or region-wide movement by doing the same kind of thing; concentrating our forces at whatever important struggles are going on and building more ongoing interrelationships off of that.

The importance of specifically neighborhood-based organizing is illustrated by our greatest failing in RYM practice so far—high school organizing. In most cities we don’t know the kids who have been tearing up and burning down the schools. Our approach has been elitist, relating to often baseless citywide groups by bringing them our line, or picking up kids with a false understanding of “politics” rather than those whose practice demonstrates their concrete anti-imperialist consciousness that schools are prisons. We’ve been unwilling to work continuously with high school kids as we did in building up college chapters. We will only reach the high school kids who are in motion by being in the schoolyards, hangouts and on the streets on an everyday basis. From a neighborhood base, high school kids could be effectively tied in to struggles around other institutions and issues, and to the anti-imperialist movement as a whole.

We will try to involve neighborhood kids who aren’t in high schools too; take them to anti-war or anti-racism fights, stuff in the schools, etc.; and at the same time reach out more broadly through newspapers, films, storefronts. Activists and cadres who are recruited in this work will help expand and deepen the Movement in new neighborhoods and high schools. Mostly we will still be tied in to the college-based movement in the same area, be influencing its direction away from campus-oriented provincialism, be recruiting high school kids into it where it is real enough and be recruiting organizers out of it. In its most developed form, this neighborhood-based movement would be a kind of sub-region. In places where the Movement wasn’t so strong, this would be an important form for being close to kids in a day-to-day way and yet be relating heavily to a lot of issues and political fronts which the same kids are involved with.

The second level is combining these neighborhoods into citywide and regional movements. This would mean doing the same thing—bringing people to other fights going on—only on a larger scale, relating to various blow-ups and regional mobilizations. An example is how a lot of people from different places went to San Francisco State, the Richmond Oil Strike, and now Berkeley. The existence of this kind of cross-motion makes ongoing organizing in other places go faster and stronger, first by creating a pervasive politicization, and second by relating everything to the most militant and advanced struggles going on so that they influence and set the pace for a lot more people. Further, cities are a basic unit of organization of the whole society in a way that neighborhoods aren’t. For example, one front where we should be doing stuff is the courts; they are mostly organized citywide, not by smaller areas. The same for the city government itself. Schools where kids go are in different neighborhoods from where they live, especially colleges; the same for hospitals people go to, and where they work. As a practical question of staying with people we pick up, the need for a citywide or area-wide kind of orientation is already felt in our movement.

Another failure of this year was making clear what the RYM meant for chapter members and students who weren’t organizers about to leave their campus for a community college, high school, GI organizing, shops or neighborhoods. One thing it means for them is relating heavily to off-campus activities and struggles, as part of the citywide motion. Not leaving the campus movement like people did for ERAP [Education Research Action Project] stuff; rather, people still organized on the campus in off-campus struggles, the way they have in the past for national actions. Like the national actions, the citywide ones will build the on-campus movement, not compete with it.

Because the Movement will be defining itself in relation to many issues and groups, not just schools (and the war and racism as they hit at the schools), it will create a political context that non-students can relate to better, and be more useful to organizing among high school students, neighborhood kids, the mass of people. In the process, it will change the consciousness of the students too; if the issues are right and the Movement fights them, people will develop a commitment to the struggle as a whole, and an understanding of the need to be revolutionaries rather than a “student movement.” Building a revolutionary youth movement will depend on organizing in a lot of places where we haven’t been, and just tying the student movement to other issues and struggles isn’t a substitute for that. But given our limited resources we must also lead the on-campus motion into a RYM direction, and we can make great gains toward citywide youth movements by doing it.

Three principles underlie this multi-issue, “cross-institutional” movement, on the neighborhood and citywide levels, as to why it creates greater revolutionary consciousness and active participation in the revolution:

(1) Mixing different issues, struggles and groups demonstrates our analysis to people in a material way. We claim there is one system and so all these different problems have the same solution, revolution. If they are the same struggle in the end, we should make that clear from the beginning. On this basis we must aggressively smash the notion that there can be outside agitators on a question pertaining to the imperialists.

(2) “Relating to Motion”: the struggle activity, the action, of the Movement demonstrates our existence and strength to people in a material way. Seeing it happen, people give it more weight in their thinking. For the participants, involvement in struggle is the best education about the Movement, the enemy and the class struggle. In a neighborhood or whole city the existence of some struggle is a catalyst for other struggles—it pushes people to see the Movement as more important and urgent, and as an example and precedent makes it easier for them to follow. If the participants in a struggle are based in different institutions or parts of the city, these effects are multiplied. Varied participation helps the Movement be seen as political (wholly subversive) rather than as separate grievance fights. As people in one section of the Movement fight beside and identify closer with other sections, the mutual catalytic effect of their struggles will be greater.

(3) We must build a Movement oriented toward power. Revolution is a power struggle, and we must develop that understanding among people from the beginning. Pooling our resources area-wide and citywide really does increase our power in particular fights, as-well as push a mutual-aid-in-struggle consciousness.

XI. The RYM And The Pigs

A major focus in our neighborhood and citywide work is the pigs, because they tie together the various struggles around the State as the enemy, and thus point to the need for a Movement oriented toward power to defeat it.

The pigs are the capitalist state, and as such define the limits of all political struggles; to the extent that a revolutionary struggle shows signs of success, they come in and mark the point it can’t go beyond. In the early stages of struggle, the ruling class lets parents come down on high school kids, or jocks attack college chapters. When the struggle escalates the pigs come in; at Columbia, the left was afraid its struggle would be co-opted to anti-police brutality, cops off campus, and said pigs weren’t the issue. But pigs really are the issue and people will understand this, one way or another. They can have a liberal understanding that pigs are sweaty working-class barbarians who over-react and commit “police brutality” and so shouldn’t be on campus. Or they can understand pigs as the repressive imperialist State doing its job. Our job is not to avoid the issue of the pigs as “diverting” from anti-imperialist struggle, but to emphasize that they are our real enemy if we fight that struggle to win.

Even when there is no organized political struggle, the pigs come down on people in everyday life in enforcing capitalist property relations, bourgeois laws and bourgeois morality; they guard stores and factories and the rich and enforce credit and rent against the poor. The overwhelming majority of arrests in America are for crimes against property. The pigs will be coming down on the kids we’re working with in the schools, on the streets, around dope; we should focus on them, point them out all the time, like the Panthers do. We should relate the daily oppression by the pig to their role in political repression, and develop a class understanding of political power and armed force among the kids we’re with.

As we develop a base these two aspects of the pig role increasingly come together. In the schools, pig is part of daily oppression—keeping order in halls and lunch rooms, controlling smoking—while at the same time pigs prevent kids from handing out leaflets, and bust “outside agitators.” The presence of youth, or youth with long hair, becomes defined as organized political struggle and the pigs react to it as such. More and more everyday activity is politically threatening, so pigs are suddenly more in evidence; this in turn generates political organization and opposition, and so on. Our task will be to catalyze this development, pushing out the conflict with the pig so as to define every struggle—schools (pigs out, pig institutes out), welfare (invading pig-protected office), the streets (curfew and turf fights)—as a struggle against the needs of capitalism and the force of the State.

Pigs don’t represent State power as an abstract principle; they are a power that we will have to overcome in the course of struggle or become irrelevant, revisionist, or dead. We must prepare concretely to meet their power because our job is to defeat the pigs and the army, and organize on that basis. Our beginnings should stress self-defense—building defense groups around karate classes, learning how to move on the street and around the neighborhood, medical training, popularizing and moving toward (according to necessity) armed self-defense, all the time honoring and putting forth the principle that “political power comes out of the barrel of a gun.” These self-defense groups would initiate pig surveillance patrols, visits to the pig station and courts when someone is busted, etc.

Obviously the issues around the pig will not come down by neighborhood alone; it will take at least citywide groups able to coordinate activities against a unified enemy—in the early stages, for legal and bail resources and turning people out for demonstrations, adding the power of the citywide movement to what may be initially only a tenuous base in a neighborhood. Struggles in one part of the city will not only provide lessons for but [will] materially aid similar motion in the rest of it.

Thus the pigs are ultimately the glue—the necessity—that holds the neighborhood-based and citywide movement together; all of our concrete needs lead to pushing the pigs to the fore as a political focus:

(1) making institutionally oriented reform struggles deal with State power, by pushing our struggle till either winning or getting pigged;

(2) using the citywide inter-relation of fights to raise the level of struggle and further large-scale anti-pig movement-power consciousness;

(3) developing spontaneous anti-pig consciousness in our neighborhoods to an understanding of imperialism, class struggle and the State;

(4) and using the citywide movement as a platform for reinforcing and extending this politicization work, like by talking about getting together a citywide neighborhood-based mutual aid anti-pig self-defense network.

All of this can be done through citywide agitation and propaganda and picking certain issues—to have as the central regional focus for the whole Movement.

XII. Repression And Revolution

As institutional fights and anti-pig self-defense off of them intensify, so will the ruling class’s repression. Their escalation of repression will inevitably continue according to how threatening the Movement is to their power. Our task is not to avoid or end repression; that can always be done by pulling back, so we’re not dangerous enough to require crushing. Sometimes it is correct to do that as a tactical retreat, to survive to fight again.

To defeat repression, however, is not to stop it but to go on building the Movement to be more dangerous to them; in which case, defeated at one level, repression will escalate even more. To succeed in defending the Movement, and not just ourselves at its expense, we will have to successively meet and overcome these greater and greater levels of repression.

To be winning will thus necessarily, as imperialism’s lesser efforts fail, bring about a phase of all-out military repression. To survive and grow in the face of that will require more than a larger base of supporters; it will require the invincible strength of a mass base at a high level of active participation and consciousness, and can only come from mobilizing the self-conscious creativity, will and determination of the people.

Each new escalation of the struggle in response to new levels of repression, each protracted struggle around self-defense which becomes a material fighting force, is part of the international strategy of solidarity with Vietnam and the blacks, through opening up other fronts. They are anti-war, anti-imperialist and pro-black liberation. If they involve fighting the enemy, then these struggles are part of the revolution.

Therefore, clearly the organization and active, conscious, participating mass base needed to survive repression are also the same needed for winning the revolution. The Revolutionary Youth Movement speaks to the need for this kind of active mass-based Movement by tying citywide motion back to community youth bases, because this brings us close enough to kids in their day-to-day lives to organize their “maximum active participation” around enough different kinds of fights to push the “highest level of consciousness” about imperialism, the black vanguard, the State and the need for armed struggle.

III. The Need For A Revolutionary Party

The RYM must also lead to the effective organization needed to survive and to create another battlefield of the revolution. A revolution is a war; when the Movement in this country can defend itself militarily against total repression it will be part of the revolutionary war.

This will require a cadre organization, effective secrecy, self-reliance among the cadres, and an integrated relationship with the active mass-based Movement. To win a war with an enemy as highly organized and centralized as the imperialists will require a (clandestine) organization of revolutionaries, having also a unified “general staff”; that is, combined at some point with discipline under one centralized leadership. Because war is political, political tasks—the international communist revolution—must guide it. Therefore the centralized organization of revolutionaries must be a political organization as well as military, what is generally called a “Marxist-Leninist” party.

How will we accomplish the building of this kind of organization- It is clear that we couldn’t somehow form such a party at this time, because the conditions for it do not exist in this country outside the Black nation. What are these conditions-

One is that to have a unified centralized organization it is necessary to have a common revolutionary theory which explains, at least generally, the nature of our revolutionary tasks and how to accomplish them. It must be a set of ideas which have been tested and developed in the practice of resolving the important contradictions in our work.

A second condition is the existence of revolutionary leadership tested in practice. To have a centralized party under illegal and repressive conditions requires a centralized leadership, specific individuals with the understanding and the ability to unify and guide the Movement in the face of new problems and be right most of the time.

Thirdly, and most important, there must be the same revolutionary mass base mentioned earlier, or (better) revolutionary mass movement. It is clear that without this there can’t be the practical experience to know whether or not a theory, or a leader, is any good at all. Without practical revolutionary activity on a mass scale the party could not test and develop new ideas and draw conclusions with enough surety behind them to consistently base its survival on them. Especially, no revolutionary party could possibly survive Without relying on the active support and participation of masses of people.

These conditions for the development of a revolutionary party in this country are the main “conditions” for winning. There are two kinds of tasks for us.

One is the organization of revolutionary collectives within the Movement. Our theory must come from practice, but it can’t be developed in isolation. Only a collective pooling of our experiences can develop a thorough understanding of the complex conditions in this country. In the same way, only our collective efforts toward a common plan can adequately test the ideas we develop. The development of revolutionary Marxist-Leninist-Maoist collective formations which undertake this concrete evaluation and application of the lessons of our work is not just the task of specialists or leaders, but the responsibility of every revolutionary. Just as a collective is necessary to sum up experiences and apply them locally, equally the collective interrelationship of groups all over the country is necessary to get an accurate view of the whole movement and to apply that in the whole country. Over time, those collectives which prove themselves in practice to have the correct understanding (by the results they get) will contribute toward the creation of a unified revolutionary party.

The most important task for us toward making the revolution, and the work our collectives should engage in, is the creation of a mass revolutionary movement, without which a clandestine revolutionary party will be impossible. A revolutionary mass movement is different from the traditional revisionist mass base of “sympathizers.” Rather it is akin to the Red Guard in China, based on the full participation and involvement of masses of people in the practice of making revolution; a movement with a full willingness to participate in the violent and illegal struggle. It is a movement diametrically opposed to the elitist idea that only leaders are smart enough or interested enough to accept full revolutionary conclusions. It is a movement built on the basis of faith in the masses of people.

The task of collectives is to create this kind of movement. (The party is not a substitute for it. and in fact is totally dependent on it.) This will be done at this stage principally among youth, through implementing the Revolutionary Youth Movement strategy discussed in this paper. It is practice at this, and not political “teachings” in the abstract, which will determine the relevance of the political collectives which are formed.

The strategy of the RYM for developing an active mass base, tying the citywide fights to community and citywide anti-pig movement, and for building a party eventually out of this motion, fits with the world strategy for winning the revolution, builds a movement oriented toward power, and will become one division of the International Liberation Army, while its battlefields are added to the many Vietnams which will dismember and dispose of US imperialism. Long Live the Victory of People’s War!

2009 world collapse of auto production in route

us-autosGas prices are sinking! Whoopie! Hooray! But why is that happening? Kind of eery, isn’t it? Answer is that gas prices are falling simply because there is a world collapse in automobile production now underway. GM is going down, a boat loaded with lead, and other automobile companies will soon follow. World gasoline demand will be decreasing and already is. Workers are losing their jobs, and now will buy less gas, less everything. Demand is down, down, down.

Standard & Poor’s said on Thursday it could cut GM and Ford’s credit ratings deeper into junk, saying that both automakers had enough liquidity through 2008, “but the accelerating deteriorating industry fundamentals will be a serious challenge to liquidity during 2009.” GM shares drop to 58-year low, global risks eyed Paper junk was backing vehicle junk it seems…

The world is beginning to see that this capitalist downturn is not just about ‘derivatives’, mortgages, and credit. It is a production downturn, too. Capitalism is not a system run on logic. It has production cycles (like a machine almost) where over production leads to economic depression, all initially fueled by looting and criminality at the very top. At the very top of this corporate excess profit looting system is the US Pentagon, which is a giant welfare pie for the super rich. Other industries like real estate and health ‘care’ merely stumble along behind as second bests in the looting frenzy of the super rich.

What ever you do, don’t buy a new SUV at still inflated prices and inflated consumption of precious societal resources. And get a job closer to home if you can? Most of the travel done in this country is basically unnecessary travel. Other countries will suffer more, simply because when travel is done, it usually is much more necessary than the riding around in circles that the US worker has to involve themselves in daily.

Bank steals roof from over the head of a 90 yr old woman who lived in her house for 38 years!

How many years do you need to pay a mortgage off in the US to make it go away? When this woman in Ohio first started making payments on her mortgage she was 52 years old, and yet at 90 the banks were stealing her property from her! Outrageous! The story turns even more tragic as the woman now has tried to commit suicide with a gun. Ohio woman, 90, attempts suicide after foreclosure

One wonders just how it might have been, too, if the gun loving nuts had worried more about mortgages and banks instead of their stupid guns? We might have control over the banks and control over gun proliferation both and it would be a better world altogether!

The man in Nebraska who abandoned his 9 kids at the hospital this week was worried about losing his home, too. Kin of 9 abandoned kids say they would’ve helped

What a country we live in today! These types of stories are going to be popping up soon all over the place. No bailout for the people down below at all. Look, too, at the Gulf Coast. The rich have no compassion for the Common People! They seem to think of us as cattle?

Singin’ the Bail-out blues…

..except nothing that ugly could possibly be put to music..

There’s a massive effort from the Far Right to blame the Liberals, blame the Working poor (whispered rumors are that it’s those MINORITIES) when the evidence has been staring us right in the face for all this time.

Infomercials on how to Get Rich Without Trying filled the late-night, early morning TeeVee…

The loans that were defaulted, turns out that not only most but the Vast Majority of them were to people who were speculating.

Not people who were buying homes to actually, you know, LIVE in them.

The “Flip that house” show is still on HGTV…

Buy a house at a flexible rate, wait while the real estate value goes up, then sell it at a profit.

The Infomercials promised that you could do this with “little or even NO money down! How could you possibly lose?”

Buy a house with no money, sell it a week later, pay off the balance of your mortgage and use the rest as paper collateral, “Cash Instrument” on another loan, preferably two, and do the same thing over again.

“How could you possibly lose?”

ummm… maybe by following the instructions, yeah, that’s a fast way to lose.

NOW, How Much Would You Pay? BUT WAIT! THERE’S MORE!

these “Cash Instruments” essentially a post-dated check backed by an extremely ætherial government guarantee of payment…

then get used as collateral for secondary and tertiary levels of loans.

Now, the Republican-controlled Congress, (until January 07), top heavy with Harvard MBAs and even Doctorates in Economics, and of course the Investment Banks and the Brokerage Houses, for some reason now they’re saying they’re the victims, that none of them had the experience or the intellect to spot a Pyramid Scam in the works.

Especially not when given a 15 year head start on spotting it.

They say they were forced to give loans to Poor Risk (meaning: underpaid Minorities) customers, but neglect to mention that most of those owner-occupant houses didn’t default.

They also weren’t “required by Federal Law” to push the bank guarantees off onto the Speculators, in fact, they seem to be complicit in those crimes.

And all these Financial Experts, especially those in Congress, like McCain, have had their Corporate Sponsors spend Large Money telling us how vigilant they were over our economy…

WELL, DUH!!

So the most they can claim is Not Guilty By Reason of Massive Incompetence.

But they come, not hat in hand, not humbly, but Arrogantly, demanding that we pay their bills, with no questions and no oversight.

Because, so they say, they’re the only ones who have the competence and experience to do it.

my yass.

We’ve just experienced the full measure of their “Competence”

Then there’s the little matter of that Federal Insurance on the mortgages.

It wasn’t there. Why was that insurance not there?

Two Words: Eye Rack.

Seems Mr Bush, whose Grandpoppy, Poppy and brothers are all Bankers, has had a little Fancy Finance Finagling going on to “pay” the bills on that mess.

It makes the Treasonous Actions of Reagan, North, Poindexter Bush Sr Secord and Casey look like a trial run.

Which essentially it was.

This time instead of funding the Cuba Libre, the Contras, the Medellin Cartel, the Taliban, Hizbollah and al Qa’eda, it goes directly into the American Taliban in other words BlackWater, Halliburton and other more highly organized Terrorist Groups.

But they’re going to blame the entire collapse on a relative handful of low-budget homeowners.

Eat the Rich.

Credit crunch is a symptom of US economic malaise, not the cause of it

Texas A and MTaxpayers gifting the rich with $7,000,000,000 will not stop the coming capitalist depression at all, because it simply does not address the root causes of anything. We have been told that this crisis is merely the fault of toxic debts piling up from an American ‘housing bubble’, which happened due the crookedness of a few bad apples. Yes, its true, they add a few more details to this sob story but that is essentially all there is to the story line, with none of the American corporate ‘leadership’ class taking any personal or political responsibility at all. That is not too surprising about these moralizing immoralists at all. It is par for their course.

But the root cause of the capitalist downturn is about much more than a credit crunch cause or a real estate mortgages beginning the collapse. It is actually about the deficit military spending that corporate America has led us into with their stupid and asinine wars against shadows of their own making. Despite the destruction caused on that fateful day termed ‘9/11’, it could have been nothing more than a temporary and unfortunate side show for our country, but instead it was seized on by the military, policing, and corporate communities to justify skyrocketing their budgets, incomes, and profits. They went on a borrowing spree using foreign credit!

They did not buy anything of real value or substance though, and they progressively bankrupted the bulk of Americans by doing their borrowing, all the time while waving Old Glory and talking of American pride and national security, which they were busy undermining. ‘USA, USA, USA’ became the cry of the dunces they had marching behind them. They tortured not only Pentagon held POWs, but the American soul itself. The big guys total control over political life is what got us down into the pit.

Now, the only economic ‘security’ left for Americans is in the seeming ability to drag others down economically with us. Since we were such fat consumers here in the land of milk and honey, many depended on supplying us. However that market is about to collapse. Add to that that the whole world is left holding much of the valueless paper that our ruling class force fed to them at guns length. And, of course, we still have the biggest arsenal around. That almost makes our Federal Government just like any insane neighbor with an insanely huge gun collection, but barely living while dependent on food stamps to eat some fast food Chinese once and a while. Sarah and Dick to go hunting with perhaps?

Look around? The American auto industry just asked and got close to $30 billion in ‘bailout’ loot, too. It’s about to sink. And the biggest economic sink of them all is about to sink in the days ahead, also. Quite simply, our military is not sustainable. That is the cause of our economic malaise, not the housing market getting squeezed. All industry and finance got dragged down together in mass, and not just car sales and real estate.

The idiots of our country continue to want to wave the flag. They continue wanting to pump borrowed money into fighting unnecessary foreign wars like it is all some sort of crazed football game being played on the pro level! They like that corporate logo of Old Glory just as they do not mind all the corporate advertising hanging all over the place at the stadiums they hang out at weekends. They like the political and corporate cheerleaders, same as they like the young coed types with bonbons. at their games. This is their None Entiendo game done ever so Grande. Beep, beep, beep beep… Fireworks display!

The root cause of the economic downturn is deficit spending and deficit thinking by our neighbors, especially so in our White Conservative Christian neighborhoods, church on every other block. To sum it up, throwing $700,000,000,000 of tax money at the failed businesses solves nothing. It’s like throwing more weight on that old football bonfire.

Remember that collapse of the Texas A&M bonfire pileup several years ago? That’s the type of thinking America has on board at present. The economic bonfire stack is merely being set for collapse with this stupid bailout that they will eventually put through, because our nation is too dumb to have stopped it when we could. That picture of the Aggie bonfire before it collapsed is just like the Federal deficit debt pileup that is due to come crashing down on all of us. They constructed it out of vainglory.

Stop the Senate of would-be thieves!

Stop the Senate of would-be thieves!

wallstreet-bailoutCall your Band of Thieving Senators now to tell them you don’t want to give $700 Billion –more honestly likely to be $5 Trillion– to the robber bankers of Wall Street! Telephone Colorado Senators Ken Salazar at 202.224.5852 and Wayne Allard at 202.224.5941 NOW. Why not call OBAMA too! (phone: 202-224-2854) Tell them you want them to consult with at least ONE economist of repute! At least one analyst not on the corporate payroll. As he promised yesterday, Michael Moore suggests a 10 PART PLAN, only IF pressure can be brought to bear right now to stop the Senate bill.

Friends,

The richest 400 Americans — that’s right, just four hundred people — own MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly $700 billion — the same amount that they are now demanding we give to them for the “bailout.” Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves!

Of course, they are not going to do that — at least not voluntarily. George W. Bush was handed a $127 billion surplus when Bill Clinton left office. Because that money was OUR money and not his, he did what the rich prefer to do — spend it and never look back. Now we have a $9.5 trillion debt. Why on earth would we even think of giving these robber barons any more of our money?

I would like to propose my own bailout plan. My suggestions, listed below, are predicated on the singular and simple belief that the rich must pull themselves up by their own platinum bootstraps. Sorry, fellows, but you drilled it into our heads one too many times: There… is… no… free… lunch. And thank you for encouraging us to hate people on welfare! So, there will be no handouts from us to you. The Senate, tonight, is going to try to rush their version of a “bailout” bill to a vote. They must be stopped. We did it on Monday with the House, and we can do it again today with the Senate.

It is clear, though, that we cannot simply keep protesting without proposing exactly what it is we think Congress should do. So, after consulting with a number of people smarter than Phil Gramm, here is my proposal, now known as “Mike’s Rescue Plan.” It has 10 simple, straightforward points. They are:

1. APPOINT A SPECIAL PROSECUTOR TO CRIMINALLY INDICT ANYONE ON WALL STREET WHO KNOWINGLY CONTRIBUTED TO THIS COLLAPSE. Before any new money is expended, Congress must commit, by resolution, to criminally prosecute anyone who had anything to do with the attempted sacking of our economy. This means that anyone who committed insider trading, securities fraud or any action that helped bring about this collapse must go to jail. This Congress must call for a Special Prosecutor who will vigorously go after everyone who created the mess, and anyone else who attempts to scam the public in the future.

2. THE RICH MUST PAY FOR THEIR OWN BAILOUT. They may have to live in 5 houses instead of 7. They may have to drive 9 cars instead of 13. The chef for their mini-terriers may have to be reassigned. But there is no way in hell, after forcing family incomes to go down more than $2,000 dollars during the Bush years, that working people and the middle class are going to fork over one dime to underwrite the next yacht purchase.

If they truly need the $700 billion they say they need, well, here is an easy way they can raise it:

a) Every couple who makes over a million dollars a year and every single taxpayer who makes over $500,000 a year will pay a 10% surcharge tax for five years. (It’s the Senator Sanders plan. He’s like Colonel Sanders, only he’s out to fry the right chickens.) That means the rich will still be paying less income tax than when Carter was president. This will raise a total of $300 billion.

b) Like nearly every other democracy, charge a 0.25% tax on every stock transaction. This will raise more than $200 billion in a year.

c) Because every stockholder is a patriotic American, stockholders will forgo receiving a dividend check for one quarter and instead this money will go the treasury to help pay for the bailout.

d) 25% of major U.S. corporations currently pay NO federal income tax. Federal corporate tax revenues currently amount to 1.7% of the GDP compared to 5% in the 1950s. If we raise the corporate income tax back to the level of the 1950s, that gives us an extra $500 billion.

All of this combined should be enough to end the calamity. The rich will get to keep their mansions and their servants, and our United States government (“COUNTRY FIRST!”) will have a little leftover to repair some roads, bridges and schools.

3. BAIL OUT THE PEOPLE LOSING THEIR HOMES, NOT THE PEOPLE WHO WILL BUILD AN EIGHTH HOME. There are 1.3 million homes in foreclosure right now. That is what is at the heart of this problem. So instead of giving the money to the banks as a gift, pay down each of these mortgages by $100,000. Force the banks to renegotiate the mortgage so the homeowner can pay on its current value. To insure that this help does no go to speculators and those who have tried to make money by flipping houses, this bailout is only for people’s primary residence. And in return for the $100K paydown on the existing mortgage, the government gets to share in the holding of the mortgage so that it can get some of its money back. Thus, the total initial cost of fixing the mortgage crisis at its roots (instead of with the greedy lenders) is $150 billion, not $700 billion.

And let’s set the record straight. People who have defaulted on their mortgages are not “bad risks.” They are our fellow Americans, and all they wanted was what we all want and most of us still get: a home to call their own. But during the Bush years, millions of them lost the decent paying jobs they had. Six million fell into poverty. Seven million lost their health insurance. And every one of them saw their real wages go down by $2,000. Those who dare to look down on these Americans who got hit with one bad break after another should be ashamed. We are a better, stronger, safer and happier society when all of our citizens can afford to live in a home that they own.

4. IF YOUR BANK OR COMPANY GETS ANY OF OUR MONEY IN A “BAILOUT,” THEN WE OWN YOU. Sorry, that’s how it’s done. If the bank gives me money so I can buy a house, the bank “owns” that house until I pay it all back — with interest. Same deal for Wall Street. Whatever money you need to stay afloat, if our government considers you a safe risk — and necessary for the good of the country — then you can get a loan, but we will own you. If you default, we will sell you. This is how the Swedish government did it and it worked.

5. ALL REGULATIONS MUST BE RESTORED. THE REAGAN REVOLUTION IS DEAD. This catastrophe happened because we let the fox have the keys to the henhouse. In 1999, Phil Gramm authored a bill to remove all the regulations that governed Wall Street and our banking system. The bill passed and Clinton signed it. Here’s what Sen. Phil Gramm, McCain’s chief economic advisor, said at the bill signing:

“In the 1930s … it was believed that government was the answer. It was believed that stability and growth came from government overriding the functioning of free markets.

“We are here today to repeal [that] because we have learned that government is not the answer. We have learned that freedom and competition are the answers. We have learned that we promote economic growth and we promote stability by having competition and freedom.

“I am proud to be here because this is an important bill; it is a deregulatory bill. I believe that that is the wave of the future, and I am awfully proud to have been a part of making it a reality.”

This bill must be repealed. Bill Clinton can help by leading the effort for the repeal of the Gramm bill and the reinstating of even tougher regulations regarding our financial institutions. And when they’re done with that, they can restore the regulations for the airlines, the inspection of our food, the oil industry, OSHA, and every other entity that affects our daily lives. All oversight provisions for any “bailout” must have enforcement monies attached to them and criminal penalties for all offenders.

6. IF IT’S TOO BIG TO FAIL, THEN THAT MEANS IT’S TOO BIG TO EXIST. Allowing the creation of these mega-mergers and not enforcing the monopoly and anti-trust laws has allowed a number of financial institutions and corporations to become so large, the very thought of their collapse means an even bigger collapse across the entire economy. No one or two companies should have this kind of power. The so-called “economic Pearl Harbor” can’t happen when you have hundreds — thousands — of institutions where people have their money. When you have a dozen auto companies, if one goes belly-up, we don’t face a national disaster. If you have three separately-owned daily newspapers in your town, then one media company can’t call all the shots (I know… What am I thinking?! Who reads a paper anymore? Sure glad all those mergers and buyouts left us with a strong and free press!). Laws must be enacted to prevent companies from being so large and dominant that with one slingshot to the eye, the giant falls and dies. And no institution should be allowed to set up money schemes that no one can understand. If you can’t explain it in two sentences, you shouldn’t be taking anyone’s money.

7. NO EXECUTIVE SHOULD BE PAID MORE THAN 40 TIMES THEIR AVERAGE EMPLOYEE, AND NO EXECUTIVE SHOULD RECEIVE ANY KIND OF “PARACHUTE” OTHER THAN THE VERY GENEROUS SALARY HE OR SHE MADE WHILE WORKING FOR THE COMPANY. In 1980, the average American CEO made 45 times what their employees made. By 2003, they were making 254 times what their workers made. After 8 years of Bush, they now make over 400 times what their average employee makes. How this can happen at publicly held companies is beyond reason. In Britain, the average CEO makes 28 times what their average employee makes. In Japan, it’s only 17 times! The last I heard, the CEO of Toyota was living the high life in Tokyo. How does he do it on so little money? Seriously, this is an outrage. We have created the mess we’re in by letting the people at the top become bloated beyond belief with millions of dollars. This has to stop. Not only should no executive who receives help out of this mess profit from it, but any executive who was in charge of running his company into the ground should be fired before the company receives any help.

8. STRENGTHEN THE FDIC AND MAKE IT A MODEL FOR PROTECTING NOT ONLY PEOPLE’S SAVINGS, BUT ALSO THEIR PENSIONS AND THEIR HOMES. Obama was correct yesterday to propose expanding FDIC protection of people’s savings in their banks to $250,000. But this same sort of government insurance must be given to our nation’s pension funds. People should never have to worry about whether or not the money they’ve put away for their old age will be there. This will mean strict government oversight of companies who manage their employees’ funds — or perhaps it means that the companies will have to turn over those funds and their management to the government. People’s private retirement funds must also be protected, but perhaps it’s time to consider not having one’s retirement invested in the casino known as the stock market. Our government should have a solemn duty to guarantee that no one who grows old in this country has to worry about ending up destitute.

9. EVERYBODY NEEDS TO TAKE A DEEP BREATH, CALM DOWN, AND NOT LET FEAR RULE THE DAY. Turn off the TV! We are not in the Second Great Depression. The sky is not falling. Pundits and politicians are lying to us so fast and furious it’s hard not to be affected by all the fear mongering. Even I, yesterday, wrote to you and repeated what I heard on the news, that the Dow had the biggest one day drop in its history. Well, that’s true in terms of points, but its 7% drop came nowhere close to Black Monday in 1987 when the stock market in one day lost 23% of its value. In the ’80s, 3,000 banks closed, but America didn’t go out of business. These institutions have always had their ups and downs and eventually it works out. It has to, because the rich do not like their wealth being disrupted! They have a vested interest in calming things down and getting back into the Jacuzzi.

As crazy as things are right now, tens of thousands of people got a car loan this week. Thousands went to the bank and got a mortgage to buy a home. Students just back to college found banks more than happy to put them into hock for the next 15 years with a student loan. Life has gone on. Not a single person has lost any of their money if it’s in a bank or a treasury note or a CD. And the most amazing thing is that the American public hasn’t bought the scare campaign. The citizens didn’t blink, and instead told Congress to take that bailout and shove it. THAT was impressive. Why didn’t the population succumb to the fright-filled warnings from their president and his cronies? Well, you can only say ‘Saddam has da bomb’ so many times before the people realize you’re a lying sack of shite. After eight long years, the nation is worn out and simply can’t take it any longer.

10. CREATE A NATIONAL BANK, A “PEOPLE’S BANK.” If we really are itching to print up a trillion dollars, instead of giving it to a few rich people, why don’t we give it to ourselves? Now that we own Freddie and Fannie, why not set up a people’s bank? One that can provide low-interest loans for all sorts of people who want to own a home, start a small business, go to school, come up with the cure for cancer or create the next great invention. And now that we own AIG, the country’s largest insurance company, let’s take the next step and provide health insurance for everyone. Medicare for all. It will save us so much money in the long run. And we won’t be 12th on the life expectancy list. We’ll be able to have a longer life, enjoying our government-protected pension, and living to see the day when the corporate criminals who caused so much misery are let out of prison so that we can help reaclimate them to civilian life — a life with one nice home and a gas-free car that was invented with help from the People’s Bank.

Yours,
Michael Moore

P.S. Call your Senators now. Here’s a backup link in case we crash that site again. They are going to attempt their own version of the Looting of America tonight. And let your reps know if you agree with my 10-point plan.

Not Sons of Bitches, Dems are bitches

When the Democrats were the minority they seemed so weak. Now in the Majority they’re positively wimps. Pundits tell us it’s a lack of leadership. Why would the corporate media overlook who’s at the whip? It would seem clear that the corporations writing the legislation, funding the campaigns, and paying for the free lunch, are driving the agenda. The GOP is paid to play the white hats, and when a bill is unpopular, the Dems are pushed forward to play the creeps.

On the proposed bailout ripoff, the Dems were not the sons of bitches, they’re just the bitches. I heard a Dem scare-mongeree explain that in spite of loathing the idea of a solution which benefited the wrong people, the bailout was our only option. “All economists agree we have to do this” he said, ignoring quite a few who have urged the opposite. The interviewer interrupted to announce, this just in, the vote had failed and as a result the DOW had plunged by 700 points. She wanted his response: “Oh. My. God.”

As Bush and his GOP team stand in the shadows, the Democrats are thrust forward to “lead” the support for this criminal legislation. Whether the bill won or lost, either way the Democrats would come out looking like shits.

I’m reminded about how an invading army flushes out defenders still hiding. Send your captives into the buildings to spring the booby-traps. Make them open the doors to draw the fire. Among thugs in prison the dirty work is done by the bitches.

Except for Democracy Now, the media won’t report the authentic Democratic efforts to lead. Here’s Dennis Kucinich on the floor of Congress speaking against the bailout and asking: why, why why:

“The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.

Why aren’t we having hearings on the plan we have just received? Why aren’t we questioning the underlying premise of the need for a bailout with taxpayers’ money?

Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren’t we asking Wall Street to clean up its own mess?

Why aren’t we passing new laws to stop the speculation, which triggered this? Why aren’t we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

“Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street?

Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks?

Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls.”

Michael Moore is more charitable about the Democrats’ actions yesterday. Here’s his update:

Friends,

Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan’s finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.

But what they didn’t know was that hundreds of thousands of Americans woke up yesterday morning and decided it was time for revolt. The politicians never saw it coming. Millions of phone calls and emails hit Congress so hard it was as if Marshall Dillon, Elliot Ness and Dog the Bounty Hunter had descended on D.C. to stop the looting and arrest the thieves.

The Corporate Crime of the Century was halted by a vote of 228 to 205. It was rare and historic; no one could remember a time when a bill supported by the president and the leadership of both parties went down in defeat. That just never happens.

A lot of people are wondering why the right wing of the Republican Party joined with the left wing of the Democratic Party in voting down the thievery. Forty percent of Democrats and two-thirds of Republicans voted against the bill.

Here’s what happened:

The presidential race may still be close in the polls, but the Congressional races are pointing toward a landslide for the Democrats. Few dispute the prediction that the Republicans are in for a whoopin’ on November 4th. Up to 30 Republican House seats could be lost in what would be a stunning repudiation of their agenda.

The Republican reps are so scared of losing their seats, when this “financial crisis” reared its head two weeks ago, they realized they had just been handed their one and only chance to separate themselves from Bush before the election, while doing something that would make them look like they were on the side of “the people.”

Watching C-Span yesterday morning was one of the best comedy shows I’d seen in ages. There they were, one Republican after another who had backed the war and sunk the country into record debt, who had voted to kill every regulation that would have kept Wall Street in check — there they were, now crying foul and standing up for the little guy! One after another, they stood at the microphone on the House floor and threw Bush under the bus, under the train (even though they had voted to kill off our nation’s trains, too), heck, they would’ve thrown him under the rising waters of the Lower Ninth Ward if they could’ve conjured up another hurricane. You know how your dog acts when sprayed by a skunk? He howls and runs around trying to shake it off, rubbing and rolling himself on every piece of your carpet, trying to get rid of the stench. That’s what it looked like on the Republican side of the aisle yesterday, and it was a sight to behold.

The 95 brave Dems who broke with Barney Frank and Chris Dodd were the real heroes, just like those few who stood up and voted against the war in October of 2002. Watch the remarks from yesterday of Reps. Marcy Kaptur, Sheila Jackson Lee, and Dennis Kucinich. They spoke the truth.

The Dems who voted for the giveaway did so mostly because they were scared by the threats of Wall Street, that if the rich didn’t get their handout, the market would go nuts and then it’s bye-bye stock-based pension and retirement funds.

And guess what? That’s exactly what Wall Street did! The largest, single-day drop in the Dow in the history of the New York Stock exchange. The news anchors last night screamed it out: Americans just lost 1.2 trillion dollars in the stock market!! It’s a financial Pearl Harbor! The sky is falling! Bird flu! Killer Bees!

Of course, sane people know that nobody “lost” anything yesterday, that stocks go up and down and this too shall pass because the rich will now buy low, hold, then sell off, then buy low again.

But for now, Wall Street and its propaganda arm (the networks and media it owns) will continue to try and scare the bejesus out of you. It will be harder to get a loan. Some people will lose their jobs. A weak nation of wimps won’t last long under this torture. Or will we? Is this our line in the sand?

Here’s my guess: The Democratic leadership in the House secretly hoped all along that this lousy bill would go down. With Bush’s proposals shredded, the Dems knew they could then write their own bill that favors the average American, not the upper 10% who were hoping for another kegger of gold.

So the ball is in the Democrats’ hands. The gun from Wall Street remains at their head. Before they make their next move, let me tell you what the media kept silent about while this bill was being debated:

1. The bailout bill had NO enforcement provisions for the so-called oversight group that was going to monitor Wall Street’s spending of the $700 billion;

2. It had NO penalties, fines or imprisonment for any executive who might steal any of the people’s money;

3. It did NOTHING to force banks and lenders to rewrite people’s mortgages to avoid foreclosures — this bill would not have stopped ONE foreclosure!;

4. It had NO teeth anywhere in the entire piece of legislation, using words like “suggested” when referring to the government being paid back for the bailout;

5. Over 200 economists wrote to Congress and said this bill might actually WORSEN the “financial crisis” and cause even MORE of a meltdown.

Put a fork in this slab of pork. It’s over. Now it is time for our side to state very clearly the laws WE want passed. I will send you my proposals later today. We’ve bought ourselves less than 72 hours.

Yours,
Michael Moore

Seven hundred times N,OOO,OOO,OOO!

Is the strategy to pay this ransom, then have the robbers intercepted as they make their escape? What other excuse will Democrats Pelosi and Reid offer for coming home with a bag full of 140,000,000,000 wooden nickels? That money’s gone if we don’t STOP THEM! STOP THEM NOW!

We hear pundits say the bailout sum is beyond comprehension. Nonsense. It’s our prosperity, our health, the pursuit of happiness we offer our children and take for granted. Gone. Unless there is still time to shout down the miscreants in Washington. As we see the politicians of every stripe complicit in this heist, and insufficient outcry in the streets, isn’t it hard not to conclude Americans are getting what they deserve? If you have any gut feeling that you DO NOT WANT TO STAND IDLY BY, listen to Michael Moore: (although the DC email/phone connection appears to have been pulled.)

Friends,

Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies — who must soon vacate the White House — are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.

No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday’s New York Times and you can see what the real deal is:

“Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

“Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

“At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.

“Nobody wants to be left out of Treasury’s proposal to buy up bad assets of financial institutions.”

Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to “consult” in the bailout.

The problem is, nobody truly knows what this “collapse” is all about. Even Treasury Secretary Paulson admitted he doesn’t know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can’t figure it out nor can he explain it to anyone.

And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!

Falling for whom? NOTHING in this “bailout” package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.

Health insurance? Mike, why are you bringing this up? What’s this got to do with the Wall Street collapse?

It has everything to do with it. This so-called “collapse” was triggered by the massive defaulting and foreclosures going on with people’s home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it’s because too many working class idiots were given mortgages that they really couldn’t afford. Here’s the truth: The number one cause of people declaring bankruptcy is because of medical bills. Let me state this simply: If we had had universal health coverage, this mortgage “crisis” may never have happened.

This bailout’s mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It’s to protect the top shareholders who own and control corporate America. It’s to make sure their yachts and mansions and “way of life” go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!

I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something — NOW! Here’s what you can do immediately:

1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they’ve made. Tell him we know he has the smarts to slow this thing down and figure out what’s the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.

2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).

3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.

When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!

Yours,
Michael Moore
[email protected]
MichaelMoore.com

P.S. Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.

P.P.S. From talking to people I know in DC, they say the reason so many Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we’ll start blowing up are the pension funds and 401(k)s of your middle class constituents. The Dems are scared they may make good on their threat. But this is not the time to back down or act like the typical Democrat we have witnessed for the last eight years. The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now and say “NO!” If we let them do this, just imagine how hard it will be to get anything good done when President Obama is in the White House. THESE DEMOCRATS ARE ONLY AS STRONG AS THE BACKBONE WE GIVE THEM. CALL CONGRESS NOW.

No blank-check bailout for Wall Street

COLORADO SPRINGS, CO – Organizations in Southern Colorado will participate in a National Day of Action in opposition to the no-strings attached, $700 billion corporate bailout plan advanced by President Bush and Treasury Secretary Paulson. A press conference will take place 2PM on Thursday, Sept. 25 in front of the Department of Human Services Sand Creek Office at 1635 South Murray Blvd., Colorado Springs.

From the LOCAL PRESS RELEASE:

“We believe the bailout is wrong headed – it’s low-wage working families struggling to make ends meet, who will most suffer the consequences of this kind of bad economic policy,” said Dennis Apuan, community leader and Democratic candidate for Statehouse, District 17. “We must press on our elected officials to ensure that families do not have to make impossible choices between feeding their children, heating their homes and filling their prescriptions. We need leaders who know how to respond to the growing need in our communities – lost jobs, threatened homes, and surging food and energy prices,” Apuan added.

The National Day of Action will feature more than 75 press conferences, demonstrations and other public events throughout the United States. Some of the events are being held by local and national organizations; others will be citizen-organized, involving taxpayers angered by the proposed corporate bailout, as introduced in Congress. The local event will include a voter registration drive and sign-up opportunities to volunteer in community civic engagement.

“With so many of the citizens and residents of House District 17 suffering from the downturn in the economy, it is important that they have a voice in these ill-advised corporate bailouts,” said Rosemary Harris, President of the Colorado Springs Branch NAACP. “This is a diverse community, with people from all racial, social and economic backgrounds. Our lives matter. Our voices matter. And our vote is our true voice. Registering voters who will determine the future policies and future leaders of this House District, this state, and this country is perhaps the best way to respond to the actions of those in Washington,” Harris added.

Among the leaders of the national organizing effort are TrueMajority.org, US Action Education Fund, ACORN, Campaign For America’s Future, Coalition on Human Needs, Military Spouses For Change, National Priorities Project and many others.

From the INDYPENDENT’s Arun Gupta, the ORIGINAL EMAIL CALL-OUT:

NO BAILOUT FOR WALL STREET
Protest on Wall Street this Thursday at 4pm!

Call to Self-Organize

This week the White House is going to try to push through the biggest robbery in world history with nary a stitch of debate to bail out the Wall Street bastards who created this economic apocalypse in the first place.

This is the financial equivalent of September 11. They think, just like with the Patriot Act, they can use the shock to force through the “therapy,” and we’ll just roll over!

Think about it: They said providing healthcare for 9 million children, perhaps costing $6 billion a year, was too expensive, but there’s evidently no sum of money large enough that will sate the Wall Street pigs. If this passes, forget about any money for environmental protection, to counter global warming, for education, for national healthcare, to rebuild our decaying infrastructure, for alternative energy.

This is a historic moment. We need to act now while we can influence the debate. Let’s demonstrate this Thursday at 4pm in Wall Street (see below).

We know the congressional Democrats will peep meekly before caving in like they have on everything else, from FISA to the Iraq War.

With Bear Stearns, Fannie and Freddie, AIG, the money markets and now this omnibus bailout, well in excess of $1 trillion will be distributed from the poor, workers and middle class to the scum floating on top.

This whole mess gives lie to the free market. The Feds are propping up stock prices, directing buyouts, subsidizing crooks and swindlers who already made a killing off the mortgage bubble.

Worst of all, even before any details have been hashed out, The New York Times admits that “Wall Street began looking for ways to profit from it,” and its chief financial correspondent writes that the Bush administration wants “Congress to give them a blank check to do whatever they want, whatever the cost, with no one able to watch them closely.”

It’s socialism for the rich and dog-eat-dog capitalism for the rest of us.

Let’s take it to the heart of the financial district! Gather at 4pm, this Thursday, Sept. 25 in the plaza at the southern end of Bowling Green Park, which is the small triangular park that has the Wall Street bull at the northern tip.

By having it later in the day we can show these thieves, as they leave work, we’re not their suckers. Plus, anyone who can’t get off work can still join us downtown as soon as they are able.

There is no agenda, no leaders, no organizing group, nothing to endorse other than we’re not going to pay! Let the bondholders pay, let the banks pay, let those who brought the “toxic” mortgage-backed securities pay!

On this list are many key organizers and activists. We have a huge amount of connections – we all know many other organizations, activists and community groups. We know P.R. folk who can quickly write up and distribute press releases, those who can contact legal observers, media activists who can spread the word, the videographers who can film the event, etc.

Do whatever you can – make and distribute your own flyers, contact all your groups and friends. This crime is without precedence and we can’t be silent! What’s the point of waiting for someone else to organize a protest two months from now, long after the crime has been perpetrated?

We have everything we need to create a large, peaceful, loud demonstration. Millions of others must feel the same way; they just don’t know what to do. Let’s take the lead and make this the start!

AGAIN:
When: 4pm – ? Thursday, September 25.
Where: Southern end of Bowling Green Park, in the plaza area
What to bring: Banners, noisemakers, signs, leaflets, etc.
Why: To say we won’t pay for the Wall Street bailout
Who: Everyone!

PETITION LETTER from 200 ECONOMISTS:

To the Speaker of the House of Representatives and the President pro tempore of the Senate:

As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America’s dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

Signed (updated at 9/25/2008 8:30AM CT)

Acemoglu Daron (Massachussets Institute of Technology)
Adler Michael (Columbia University)
Admati Anat R. (Stanford University)
Alexis Marcus (Northwestern University)
Alvarez Fernando (University of Chicago)
Andersen Torben (Northwestern University)
Baliga Sandeep (Northwestern University)
Banerjee Abhijit V. (Massachussets Institute of Technology)
Barankay Iwan (University of Pennsylvania)
Barry Brian (University of Chicago)
Bartkus James R. (Xavier University of Louisiana)
Becker Charles M. (Duke University)
Becker Robert A. (Indiana University)
Beim David (Columbia University)
Berk Jonathan (Stanford University)
Bisin Alberto (New York University)
Bittlingmayer George (University of Kansas)
Boldrin Michele (Washington University)
Brooks Taggert J. (University of Wisconsin)
Brynjolfsson Erik (Massachusetts Institute of Technology)
Buera Francisco J. (UCLA)
Camp Mary Elizabeth (Indiana University)
Carmel Jonathan (University of Michigan)
Carroll Christopher (Johns Hopkins University)
Cassar Gavin (University of Pennsylvania)
Chaney Thomas (University of Chicago)
Chari Varadarajan V. (University of Minnesota)
Chauvin Keith W. (University of Kansas)
Chintagunta Pradeep K. (University of Chicago)
Christiano Lawrence J. (Northwestern University)
Cochrane John (University of Chicago)
Coleman John (Duke University)
Constantinides George M. (University of Chicago)
Crain Robert (UC Berkeley)
Culp Christopher (University of Chicago)
Da Zhi (University of Notre Dame)
Davis Morris (University of Wisconsin)
De Marzo Peter (Stanford University)
Dubé Jean-Pierre H. (University of Chicago)
Edlin Aaron (UC Berkeley)
Eichenbaum Martin (Northwestern University)
Ely Jeffrey (Northwestern University)
Eraslan Hülya K. K.(Johns Hopkins University)
Faulhaber Gerald (University of Pennsylvania)
Feldmann Sven (University of Melbourne)
Fernandez-Villaverde Jesus (University of Pennsylvania)
Fohlin Caroline (Johns Hopkins University)
Fox Jeremy T. (University of Chicago)
Frank Murray Z.(University of Minnesota)
Frenzen Jonathan (University of Chicago)
Fuchs William (University of Chicago)
Fudenberg Drew (Harvard University)
Gabaix Xavier (New York University)
Gao Paul (Notre Dame University)
Garicano Luis (University of Chicago)
Gerakos Joseph J. (University of Chicago)
Gibbs Michael (University of Chicago)
Glomm Gerhard (Indiana University)
Goettler Ron (University of Chicago)
Goldin Claudia (Harvard University)
Gordon Robert J. (Northwestern University)
Greenstone Michael (Massachusetts Institute of Technology)
Guadalupe Maria (Columbia University)
Guerrieri Veronica (University of Chicago)
Hagerty Kathleen (Northwestern University)
Hamada Robert S. (University of Chicago)
Hansen Lars (University of Chicago)
Harris Milton (University of Chicago)
Hart Oliver (Harvard University)
Hazlett Thomas W. (George Mason University)
Heaton John (University of Chicago)
Heckman James (University of Chicago – Nobel Laureate)
Henderson David R. (Hoover Institution)
Henisz, Witold (University of Pennsylvania)
Hertzberg Andrew (Columbia University)
Hite Gailen (Columbia University)
Hitsch Günter J. (University of Chicago)
Hodrick Robert J. (Columbia University)
Hopenhayn Hugo (UCLA)
Hurst Erik (University of Chicago)
Imrohoroglu Ayse (University of Southern California)
Isakson Hans (University of Northern Iowa)
Israel Ronen (London Business School)
Jaffee Dwight M. (UC Berkeley)
Jagannathan Ravi (Northwestern University)
Jenter Dirk (Stanford University)
Jones Charles M. (Columbia Business School)
Kaboski Joseph P. (Ohio State University)
Kahn Matthew (UCLA)
Kaplan Ethan (Stockholm University)
Karolyi, Andrew (Ohio State University)
Kashyap Anil (University of Chicago)
Keim Donald B (University of Pennsylvania)
Ketkar Suhas L (Vanderbilt University)
Kiesling Lynne (Northwestern University)
Klenow Pete (Stanford University)
Koch Paul (University of Kansas)
Kocherlakota Narayana (University of Minnesota)
Koijen Ralph S.J. (University of Chicago)
Kondo Jiro (Northwestern University)
Korteweg Arthur (Stanford University)
Kortum Samuel (University of Chicago)
Krueger Dirk (University of Pennsylvania)
Ledesma Patricia (Northwestern University)
Lee Lung-fei (Ohio State University)
Leeper Eric M. (Indiana University)
Leuz Christian (University of Chicago)
Levine David I.(UC Berkeley)
Levine David K.(Washington University)
Levy David M. (George Mason University)
Linnainmaa Juhani (University of Chicago)
Lott John R. Jr. (University of Maryland)
Lucas Robert (University of Chicago – Nobel Laureate)
Luttmer Erzo G.J. (University of Minnesota)
Manski Charles F. (Northwestern University)
Martin Ian (Stanford University)
Mayer Christopher (Columbia University)
Mazzeo Michael (Northwestern University)
McDonald Robert (Northwestern University)
Meadow Scott F. (University of Chicago)
Mehra Rajnish (UC Santa Barbara)
Mian Atif (University of Chicago)
Middlebrook Art (University of Chicago)
Miguel Edward (UC Berkeley)
Miravete Eugenio J. (University of Texas at Austin)
Miron Jeffrey (Harvard University)
Moretti Enrico (UC Berkeley)
Moriguchi Chiaki (Northwestern University)
Moro Andrea (Vanderbilt University)
Morse Adair (University of Chicago)
Mortensen Dale T. (Northwestern University)
Mortimer Julie Holland (Harvard University)
Muralidharan Karthik (UC San Diego)
Nanda Dhananjay (University of Miami)
Nevo Aviv (Northwestern University)
Ohanian Lee (UCLA)
Pagliari Joseph (University of Chicago)
Papanikolaou Dimitris (Northwestern University)
Parker Jonathan (Northwestern University)
Paul Evans (Ohio State University)
Pejovich Svetozar (Steve) (Texas A&M University)
Peltzman Sam (University of Chicago)
Perri Fabrizio (University of Minnesota)
Phelan Christopher (University of Minnesota)
Piazzesi Monika (Stanford University)
Piskorski Tomasz (Columbia University)
Rampini Adriano (Duke University)
Reagan Patricia (Ohio State University)
Reich Michael (UC Berkeley)
Reuben Ernesto (Northwestern University)
Roberts Michael (University of Pennsylvania)
Robinson David (Duke University)
Rogers Michele (Northwestern University)
Rotella Elyce (Indiana University)
Ruud Paul (Vassar College)
Safford Sean (University of Chicago)
Sandbu Martin E. (University of Pennsylvania)
Sapienza Paola (Northwestern University)
Savor Pavel (University of Pennsylvania)
Scharfstein David (Harvard University)
Seim Katja (University of Pennsylvania)
Seru Amit (University of Chicago)
Shang-Jin Wei (Columbia University)
Shimer Robert (University of Chicago)
Shore Stephen H. (Johns Hopkins University)
Siegel Ron (Northwestern University)
Smith David C. (University of Virginia)
Smith Vernon L.(Chapman University- Nobel Laureate)
Sorensen Morten (Columbia University)
Spiegel Matthew (Yale University)
Stevenson Betsey (University of Pennsylvania)
Stokey Nancy (University of Chicago)
Strahan Philip (Boston College)
Strebulaev Ilya (Stanford University)
Sufi Amir (University of Chicago)
Tabarrok Alex (George Mason University)
Taylor Alan M. (UC Davis)
Thompson Tim (Northwestern University)
Tschoegl Adrian E. (University of Pennsylvania)
Uhlig Harald (University of Chicago)
Ulrich, Maxim (Columbia University)
Van Buskirk Andrew (University of Chicago)
Veronesi Pietro (University of Chicago)
Vissing-Jorgensen Annette (Northwestern University)
Wacziarg Romain (UCLA)
Weill Pierre-Olivier (UCLA)
Williamson Samuel H. (Miami University)
Witte Mark (Northwestern University)
Wolfers Justin (University of Pennsylvania)
Woutersen Tiemen (Johns Hopkins University)
Zingales Luigi (University of Chicago)
Zitzewitz Eric (Dartmouth College)

Let the greedy bastards eat cake

Let the greedy bastards eat cake

Class struggle posterThe tax break for the rich wasn’t enough, the GWOT siphon on the US treasury isn’t flowing fast enough, CEO bonuses aren’t enough, usury is not unregulated enough, bankruptcy laws to ruin small borrowers aren’t predatory enough, the disparity between rich and poor is not obscene enough.

It’s not enough that the parasitic rich contribute only smoke and mirrors to the economy. Now the [investment] bank robbers are dropping even that pretext to demand that US taxpayers simply fork over the money. And don’t anyone try to follow them out.

Michael Hudson on paying for the bailout AND the fallout:

It is bad enough for the government to buy $700 billion of bad bank investments at prices that no private-sector investor has been willing to approach. This itself is an undeserved giveaway to the financial institutions that caused the problem by living recklessly in the short run. But making them – and indeed, helping them – pay back this gift with the aid of favorable tax and deregulatory policies will simply shift the cost off their shoulders onto those of bank depositors, credit-card users, mortgage borrowers and hapless pension-fund contributors to the money managers who have taken most of the current income in the form of commissions, salaries and bonuses to themselves. This will sharply add to the price of doing business in the United States, and specifically to the economy’s debt overhead by the banks making even more predatory loans.

It gets worse. In order for the existing junk mortgages to be “made good,” real estate prices must be raised further above the ability to pay for this year’s five million homeowners in arrears and facing default. Is this a good thing? Is it good to raise access prices for housing even more, forcing new homebuyers to go further into debt than ever before to gain access to housing? Mr. Paulson has directed the Federal Reserve, Fannie Mae, Freddie Mac and the FHA (Federal Housing Authority) to re-inflate the real estate market. They are to pump nearly a trillion dollars into the mortgage market.

Fiscal policy is also to be brought to bear to turn the real estate market around by pressuring cities and states to “help homeowners pay their mortgage debts” by cutting property taxes. The idea is to leave more revenue available for property owners to pay mortgage bankers. Unfortunately, this will oblige cities to make up these cuts by taxing labor and sales, running deeper into debt than they already are, or cutting back their spending on basic infrastructure, education and public services and continue shortchanging their pension funds. This is the price to be exacted to “protect the taxpayer’s interest” by bailing out irresponsible banks. The solution is to let them make even more money by acting in a yet more predatory way.

And:

The most egregious pretense is that the problem is only temporary, not structural. We are merely “freeing up” the market for new loans. This is precisely the opposite of what the classical economists meant by “free markets.” What America has is a bad debt problem, not a “liquidity” problem. There is no “illiquidity” when people refuse to buy a junk mortgage on a property worth only a fraction of the mortgage’s face value. Many of these bad mortgage loans are fraudulent. The Treasury bailout seeks to make $700 billion of fictitious financial claims “real” – that is, way overvalued as compared to their actual worth(lessness).

The Economic Meltdown Was Staged As an Act of Class War

Free Levi!

The Kleptocrats are pulling the biggest heist in world history. They created money out of nothing, and are now dumping all that worthless paper on the taxpayers. The Robber Barrons took the money and ran, and are now planning their next, even bigger, heist.

Even arch conservative Bill Kristol is balking at the trillion dollar heist being pulled on the taxpayer. And he isn’t the only one.

Know them by their fruits. McCain’s campaign manager made $2 million blocking regulations for the mortgage “industry.”

McCain: “I’m glad I deregulated Wall Street.”

Fed Chairman and Treasury Secretary told Senate on Friday that complete meltdown of our entire financial system is just days away. Or, as John McCain would say, “the fundamentals of our economy are strong.” Just not in our favor. And their “rescue plan” is likely to finish off our economy all together. All because, 8 years ago, half the voters thought it would be cute to vote for the guy they’d like to have a beer with. Maybe America deserves to fail.

Bare market. Fed moves to rescue Goldman Sachs and Morgan Stanley.

USA is collapsing just like USSR. It’s now unavoidable, the only question is, what comes after?

John McCain (KKK Party) scapegoats blacks for financial crisis. Oh, and BTW, Obama is black, so he must be in cahoots!

Non-elitist John McCain owns THIRTEEN cars.

One swindle after another. McCain thinks a market-based reform of the health care crisis is called for, since that worked so well with Wall St.

Saturday Night Live skit reveals the truth about the McCain campaign better than all the news networks combined.

Judge orders Cheney to preserve records. As if he’s ever obeyed the law before.

NASA to hold press conference Tuesday about death of our solar system.

Excerpts from Thomas McCullock’s Sept 22 notes, thomasmc.com.

The Stop the Foreclosures and Evictions Movement arises

ForeclosuresPeople are losing the houses they live in, the jobs they depend on to pay the rents and mortgages, and the retirement pensions they thought secure. Michigan and Florida are especially hit hard, as well as the Gulf Coast areas hit by tropical storms and left half way abandoned by Federal relief agencies. The formation of Michigan’s Coalition to Stop Foreclosures & Evictions is a clear sign of our times, and we shall see coalitions like this one now begin to form in area after area almost everywhere around the US. You can bet on it.

AIG and Washington Mutual soon to follow Lehman Brothers down the drain?

while-you-were-outTo put things in perspective, it helps to know that Lehman Brothers holdings were 10 times the value of Enron’s, a company that also fell into bankruptcy amidst scandal. But the collapse of the American economy is not over yet, as other companies, such as Washington Mutual and AIG also appear to be on their way to going under. Here is what wikipedia has to say about AIG, the 18th largest company in the world, and one that in 2006 was fined over 1.5 billion dollars for fraud.

‘On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad who has served as Chairman of the Board of Directors of the Company since 2006.

In 2008, AIG’s share prices fell over 95% to less than $3 in September and the company reported over $13.2 billion in losses in the first six months of that year. As Lehman Brothers suffered a major decline in value and share price, potential investors began to compare the types of securities held by AIG to those held by Lehman, and found that AIG had valued their Alt-A and sub-prime mortgage-backed securities at rates 1.7 to 2.0 times those Lehman had used for what Lehman officials called similar securities. On September 14, 2008, AIG announced it was considering selling its aircraft leasing division, International Lease Finance Corporation, in an effort to raise necessary capital for the company. The Federal Reserve has hired Morgan Stanley to determine if there are systemic risks to a failing AIG, and has asked private entities to supply short-term “bridge” loans to the company. In the meantime, New York regulators have approved AIG for $20 billion in borrowing from its subsidiaries.

On September 16, AIG’s stock dropped 60 percent at the market’s opening. The Federal Reserve continued to meet that day with major Wall Street investment firms to broker a deal to create a $75 billion line of credit to the company. Rating agencies Moody’s and Standard and Poor’s, meanwhile, downgraded their ratings on AIG’s credit on concerns over continuing losses to mortgage-backed securities. The New York Times later reported that talks on Wall Street had broken down and AIG may file for bankruptcy protection on Wednesday, September 17.’

Will this company in fact file for bankruptcy tomorrow as the NYT reports? And what about Washington Mutual and the others? It’s beginning to look like the 30’s once again, and all doubt about ‘recessions’ or not is now over. The word is DEPRESSION. Hang onto your job, house, and pension if you can, for it looks grim.