Tag: Banks

Debt Crisis Analysis

Teaching, spiritual, the self, guru, teacher, student
The Lion of Jesse was a Progressive!
The Lion of Jesse was a Progressive!

Bruce Wilson made this comment as part of one of his great articles.

“The same scenario was played out during the Third World debt crisis of the 1980s and the Asian financial crisis of the 1990s.

Lending binges by banks and speculators led to debt defaults, followed by severe austerity measures to protect the interests of the financiers.

The solution is always the same, says Bello: “Pin the blame on the victims by characterizing them as living beyond their means, get public agencies to rescue you with money upfront, and stick the people with the terrible task of paying off the loan by committing a massive chunk of their present and future income streams as payments to the lending agencies.”

While the world follows this “living beyond their needs” narrative perpetuated by the corporate media – banks continue to deflect the pressures for financial regulation. As long as the banks get their way and austerity measures continue, the economies of Greece and the peripheral countries of Europe will continue to stagnate and the people will suffer.” Author: Bruce Wilson

Find his whole article “here”.

The problem with corporate styled capitalism is that banks and businesses are not only insensitive to the real needs of citizens because of a push toward profits as the true and only main and important goal, but they are also too big for anyone to allow them to fail. This means we need to work hard at taking money out of politics so that the needs of the people can have the larger weight of influence.  This is the only way we can have a strong democracy of, for, and by the people.  (A twist on the words of a great speech by Abraham Lincoln. Which you can find here.)

Abraham Lincoln also feared for his nation because of the influence of corporations.  Capitalism has a fatal flaw in that it’s love of money and greed tend to place all the wealth eventually into a few hands and impoverish the vast majority of hard working citizens.  Repairing this flaw must mean a government big enough and strong enough and democratic enough to stop the formation of corporations and banks that are too big to fail.  When this grabbing of most of the power and wealth of our nation by a few rich individuals occurs and we lose our democracy to big money influences, any nation begins to look like a dictatorship of a few, a result also attained by communism.

A truly free and vibrant economy cannot exist without everyone being made players in the economic game rather than being slaves to it. Picture a game of monopoly, a board game where players of the game roll dice and move around a piece that can land on owned “properties” and have to pay “rent” to the owner.

When a child I played this game and eventually one player will own all the landing places and collect all the rent until finally everyone else was “broke” and homeless.  Sometimes the “winner” of the game would try to keep playing by handing out just enough play money and landing spaces to other players so that they could keep playing, but never enough to spaces or money to put them in serious threat of losing.  Usually all the players who had “lost” would walk away in disgust.

Consider now when such a game occurs in real life, then you can’t walk away, you are stuck in the unfair rigged game.  This is what happens more or less when corporate styled capitalism, and too big to fail banks, take over the game.  Eventually all except a minority will lose any position where they might hope to succeed.

Those in such a “position”, a position from which they might find some success in the game, are the middle class.  Progressives seek to strengthen the middle class and help the poorest from being hopeless and turning to crime or violence. This means that the poor are in a position to move into the middle class, and that the middle class can hope to rise to upper class status.

I hope you will read all of Bruce Wilson’s article and remember to “keep the faith” in democracy and fight for it with diligence, something that requires not guns but constant vigilance, and a determination that your vote, nor anyone else’s will be “bought and paid for” in any way what so ever…

David “Mitch” Sotelo 

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American Values, Michael Moore, and President Obama

Michael Moore Hero for American Values
President Barack Obama:  Hope for American Workers
President Barack Obama: Hope for the American Workers
Michael Moore Hero for American Values
Michael Moore Small Town Hero

I am a believer that government is just like a big corporation. In our Democratic government everyone has an equal share of stock in our nation when they become of age to vote. This my friends is called Democracy. This ideal of Democracy is what President Obama, Michael Moore, myself and all Democrats believe to be just and right. When the government gives dividends to people like health care that is what should be expected as long as we can afford it. We can afford it, we can’t afford not to afford it, Romney himself had a similar plan to  Obama’s in one state.  According to Romney, such a health care plan was good for one state.  Such a plan would surely be even better for the whole nation because more are sharing the expense.

The government helps support the right for free speech and the right to organize for the smallest of businesses, called “workers”.  Michael Moore and President Obama support this concept.  This too is Democratic capitalism. There is nothing wrong with this, there is nothing non American about this.  The values supporting worker rights are what this nation was founded upon.

Additionally, the fact that the private sector is valuable  is nothing that Obama, or Michael Moore, or myself would disagree with and once again we are all capitalists, we are simply Democratic (read REAL AMERICAN) Capitalists, who believe that “All men are created equal…. etc.”

Let government do what it is good at, and the private sector economy do what it is best at.  Yet, never take away the capitalist right for workers to organize, as the smallest of businesses, to bargain in our free market economy. Anything less than this is certainly anti American and anti Democratic.

Also… Since the super wealthy have NEVER paid their fair share of taxes, asking them to pay more is certainly right.  Especially since they own almost all the wealth in the country and benefit most from everything taxes pay for, it is far MORE than FAIR that they should pay more in taxes.

The big banks and not hard working Americans caused what was nearly a depression.  This was on the Republican “watch”, and Obama shouldn’t be blamed for it.  Ungoverned unbridled greed almost destroyed America through the practices of big bank corporations, and now we find them trying to blame the results on President Obama.  This is patently ridiculous.

Why did our nations careen toward disaster?  Why is it still staggering from the economic blow? Because of a lack of proper government over sight.

Now Republicans scream that government needs reducing, giving more power to the banks and corporations that brought us to the brink of disaster.  Those who got bailed out by money mostly supplied by workers and their families now are making billions but still aren’t hiring.  They are acting in bad faith.  They are now telling American workers that we can’t afford to take care of our retirees and that we can’t have health care that everyone can afford.  They say that Michael Moore was wrong about health care.  They gave their CEO’s raises with the money…

Constantly Republicans call it patriotic to speak badly about our government.  Yet the right loves the military and practically worships it as an institution. Let them realize this is a government run institution and a very successful one.

Michael Moore is a national hero. He stands up for fair play and common sense, he stands up for the inherent right of all Americans, not just a lucky few, “to life, liberty and the pursuit of happiness”.

Until common sense, the right to free speech, the right to fair play, and the right for the smallest of businesses (called workers) to organize and have a voice and dignity, become anything but American, Michael Moore remains one of this nation’s greatest friends.

Michael Moore is fighting for American values every day and what can we do to help defend American values?  What is our part?  We can vote.

We have a great chance to support American values long before 2012 though.  Obama has fought for us from the beginning, but he needs our help.  Audacious hope means audacious effort and audacious political support. Don’t be caught letting down our American dreams and hopes for the future.  We can do more than just vote, we can organize to get others to vote and educate them on the issues. Get involved, start here.

Brother David “Mitch” Sotelo

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