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Wed Jun 27, 2012, 05:12 AM

 

Debt is manufactured by investors & they get paid 1st at the expense of the rest. Screw them.

It is clear. With both parties abandoning labor we no longer have a rational ruling class that controls the people by handing out just enough goodies to keep people at bay. Instead we have two parties sucking at the money tree. Without unions to counter balance through the force of millions capable of shutting things down, it is “Katy bar the door..."

We hear how we have to work the politicians – like lobbying for tiny laws will get us somewhere.... The only way to lobby these clowns is to throw thousands of bodies in front of them. Then we have something to talk about...

The entire crisis is about debt servicing and the workers are the ones who have to pay. A recent piece in the Times made this point by a Greek leftist leader: “It wasn't us who weren't paying taxes, it was the elite -- the 1% -- or the 10%.”
Just think of it. Debt is manufactured by investors and they get paid first at the expense of the rest of the population. I say screw them. Let them put their money in a bank at 1% interest like I have to do....

Chris Hedges made some great points:

Those who have the largest megaphones in our corporate state serve the very systems of power we are seeking to topple. They encourage us, whether on Fox or MSNBC, to debate inanities, trivia, gossip or the personal narratives of candidates. They seek to channel legitimate outrage...into the black hole of corporate politics. They spin these silly, useless stories from the “left” or the “right” while ignoring the egregious assault by corporate power on the citizenry, an assault enabled by the Democrats and the Republicans. Don’t waste time watching or listening. They exist to confuse and demoralize you.


A blogger commented: “The Wisconsin recall debacle is the final stamp on the ‘dead game of electoral politics.’ Occupy.” Occupy indeed. The power is in the streets. We have to learn from the police tactics that managed to disrupt Occupy Wall Street by organizing not to lobby politicians but building structures that enable people to resist. And unions are our best bet. The problem with most unions is that they are in the hands of a small version of an oligarchy, undemocratically run and shutting out voices of criticism...

I will be making my first visit to Detroit this summer for the AFT convention where we can expect an outpouring of support for the Chicago teachers from around the nation.

http://ednotesonline.blogspot.com/2012/06/coming-soon-to-nation-near-you-greece.html

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Reply Debt is manufactured by investors & they get paid 1st at the expense of the rest. Screw them. (Original post)
HiPointDem Jun 2012 OP
msongs Jun 2012 #1
xchrom Jun 2012 #2
JDPriestly Jun 2012 #3
HiPointDem Jun 2012 #4
HiPointDem Jun 2012 #5
FarCenter Jun 2012 #11
sulphurdunn Jun 2012 #6
INdemo Jun 2012 #7
sulphurdunn Jun 2012 #8
socialist_n_TN Jun 2012 #9
Odin2005 Jun 2012 #10

Response to HiPointDem (Original post)

Wed Jun 27, 2012, 05:31 AM

1. AFt outpouring of support...except from Washington DC and the race to the top crowd nt

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 05:37 AM

2. Du rec. Nt

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 05:47 AM

3. That is why I no longer vote to issue government bonds when propositions of that

sort appear on the ballot.

The bonds are usually intended for a good purpose.

But think about it.

Who borrows the money? The government on behalf of ordinary taxpayers.

And from whom do they borrow it? From wealthy people who don't want to pay taxes on the revenue they earn from the bonds. It is a tax-free investment. If you don't have much money, you are less likely to have a tax strategy that gives you an incentive to buy the bonds.

So, bond measures are essentially a means to borrow money and let the rich get richer off the interest. Who pays the interest? Taxpayers. Some of the rich pay some of the interest, but only the rich bondholders get at least part if not all of the interest paid out of their taxes replaced into their pockets.

Voting for a bond is voting to borrow. To buy something today and pay for it tomorrow. It's workable in a booming economy with inflation, but horrible in deflation.

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Response to JDPriestly (Reply #3)

Wed Jun 27, 2012, 05:54 AM

4. except government spending is the only thing keeping 'the economy' from deflating

 

at the moment. so defunding gov't projects = deflation & job loss. keynesian economics says borrow in bad times, repay in good, not the other way round.

damned if you do, damned if you don't. no matter which way you turn, you're filling some rich guy's pockets. that's because those are the people who designed 'the economy'.

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Response to HiPointDem (Reply #4)

Wed Jun 27, 2012, 07:00 AM

5. kicking this in protest of the continuing presence of sunscreen on the first page

 

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Response to HiPointDem (Reply #4)

Wed Jun 27, 2012, 10:26 PM

11. The politicians forgot about the "repay in good times" part

So now the borrow in bad times part doesn't work.

Borrowing more just commits an unmanageable percent of future revenues to just paying interest on the debt.

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 07:51 AM

6. Econ 100

You build the bank to make the money to sell the debt to make the stuff to make the money to pay the bank to make the money to make the debt bigger until you can't make the money to pay the bank the bank can't sell the debt to make the stuff to make the money to pay the debt and you bailout the bank and go broke or something like that.

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 08:10 AM

7. The leaders of some union aren't even elected by the general membership..

They are appointed by the board of directors comprised of officers and they too are appointed by a board of the national directors.
Yes some unions are controlled by a select few whose salaries are at least twice that of the average member and in some cases 3 or 4 times the amount....Union Democracy? There hasn't been for about 40 years

"The problem with most unions is that they are in the hands of a small version of an oligarchy, undemocratically run and shutting out voices of criticism..."

The leaders of some unions today suck up to the politicians aor the wealthy corporate mafia member that best serves them not the general membership .
When 35% of the union members in Wisconsin vote for a Teabagger like Walker than yes....no doubt unions have lost their way.

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Response to INdemo (Reply #7)

Wed Jun 27, 2012, 08:20 PM

8. It is ironic

to hear people complain about how undemocratic unions are (whether true of not) and how their members are not represented by the leadership they elect. The same people rarely complain about corporations, which are undemocratic by charter, consider their employees commodities, are not elected by the people who actually own them and pay their CEOs hundreds of times what the average worker makes.

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 08:48 PM

9. Kick. SO much to agree with here...........

At this stage it's about throwing a monkey wrench into the works. Nothing is going to change until we STOP cooperating with the game. And that doesn't come at the ballot box. That comes in the streets.

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Response to HiPointDem (Original post)

Wed Jun 27, 2012, 09:17 PM

10. the creation of debt was how economic inequality first emerged.

A guy who happened to have a good plot of farmland would "give" some of his crop to people who had a poor harvest with the expectation that this "gift" would be reciprocated at some point in the future. Then when the recipients were unable to pay back the "gift" they were forced into debt slavery. You find this in countless agricultural societies at the tribal level of social organization.

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