HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » STOCK MARKET WATCH -- Mon... » Reply #50
Introducing Discussionist: A new forum by the creators of DU

Response to Tansy_Gold (Original post)

Mon Mar 25, 2013, 03:10 PM

50. The 147 People Destroying the World


The 147 People Destroying the World
How the usual suspects perpetuate economic injustice.

JPMorgan Chase's board "strongly" endorsed Jamie Dimon, pictured June 19, 2012, to continue serving as both chairman and chief executive despite last year's embarrassing $6.2 billion trading loss in the "London Whale" debacle.
March 25, 2013 |




Can 147 people perpetuate economic injustice – and make it even worse? Can they subvert the workings of democracy, both abroad and here in the United States? Can 147 people hijack the global economy, plunder the environment, build a world for themselves that serves the few and deprives the many?

There must be some explanation for last week’s economic madness. Take a look:

Cyprus: The European Union acted destructively – and self-destructively – when it tried to seize a portion of the insured savings accounts of the citizens of Cyprus. They were telling anyone with a savings account in the financially troubled nations of the Eurozone: Forget your guaranteed deposits. If we need your money in order to bail out the big banks – banks which have already gambled recklessly with it – we’ll take it.

That didn’t just create a political firestorm in Cyprus. It threatened the European Union’s banking system, and perhaps the Union itself. The fact that the tax on deposits has been partially retracted doesn’t change the basic question: What were they thinking?

The Grand Bargain: The President and Congressional Republicans reportedly moved closer to a deal that would cut Social Security and Medicare while raising taxes – mostly on the middle class – without doing more to create jobs. A “Grand Bargain” like that would run counter to both public opinion and informed economic judgement.

Who would impose more economy-killing austerity when there’s so much evidence of the harm it does? Why would the White House want to become the face of a deal to cut Social Security, killing its own party’s political prospects for a generation?

There’s more:

http://www.alternet.org/147-people-destroying-world

---------------------------------------------------------------------

Methinks we need about 147 of these. A few sets of them.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 52 replies Author Time Post
Tansy_Gold Mar 2013 OP
Demeter Mar 2013 #1
Demeter Mar 2013 #2
Demeter Mar 2013 #3
Demeter Mar 2013 #5
Demeter Mar 2013 #6
Demeter Mar 2013 #7
Demeter Mar 2013 #11
Demeter Mar 2013 #12
Demeter Mar 2013 #13
Demeter Mar 2013 #48
Demeter Mar 2013 #4
Demeter Mar 2013 #8
Demeter Mar 2013 #9
bread_and_roses Mar 2013 #37
Demeter Mar 2013 #10
Demeter Mar 2013 #14
Demeter Mar 2013 #15
Demeter Mar 2013 #16
Demeter Mar 2013 #17
Demeter Mar 2013 #18
Demeter Mar 2013 #19
Demeter Mar 2013 #20
Demeter Mar 2013 #21
Demeter Mar 2013 #22
Demeter Mar 2013 #23
Demeter Mar 2013 #24
Demeter Mar 2013 #25
Demeter Mar 2013 #26
Demeter Mar 2013 #27
Demeter Mar 2013 #28
Demeter Mar 2013 #29
Demeter Mar 2013 #30
xchrom Mar 2013 #31
xchrom Mar 2013 #32
just1voice Mar 2013 #49
xchrom Mar 2013 #33
AnneD Mar 2013 #42
xchrom Mar 2013 #43
xchrom Mar 2013 #34
Hotler Mar 2013 #35
Fuddnik Mar 2013 #36
xchrom Mar 2013 #38
Demeter Mar 2013 #44
DemReadingDU Mar 2013 #39
DemReadingDU Mar 2013 #41
Demeter Mar 2013 #45
DemReadingDU Mar 2013 #40
Demeter Mar 2013 #46
Demeter Mar 2013 #47
LineNew Reply The 147 People Destroying the World
Fuddnik Mar 2013 #50
Fuddnik Mar 2013 #51
bread_and_roses Mar 2013 #52
Please login to view edit histories.