"The wealthy, not only by private fraud but also by common laws, do every day pluck and snatch away from the people some part of their daily living. Therefore, when I consider and weigh in my mind these commonwealths which nowadays do flourish, I perceive nothing but a certain conspiracy of rich men in procuring their own commodities under the name and authority of the commonwealth.
They invent and devise all means and crafts, first how to keep safely without fear of losing that which they have unjustly gathered together, and next how to hire and abuse the work and labor of the people for as little money and effort as possible."
Thomas More, Utopia
Monday, May 21, 2012
The American Class System Revisited
Here Richard Wolff uses the mortgage crisis and the explosion in personal indebtedness here in the US as the vehicle by which a discussion on class may be explored...
5 comments:
Anonymous
said...
Alas, Coldie, my dear comrade, Mr. Wolff's final comment American workers will discover "with vengance" class is wrong as wrong can be.
The American working class has been duped soooo long by this crooked American "free market" system I think there is no turning back.
Look at our fellow officers. They would sooner cut off their left nut than to even agree with half of this presentation. They blame the poor and not the bankers.
We can only try to enlighten them Coldie. They'll never listen though. They will call Obama a Socialist, when we know he is only a tool for the rich.
The Banking industry as a whole ingnored long held loan issuing guidelines.Why,I really dont know,but they did give out these "toxic" loans to folks who should not have received them.
There were perverse incentives that fueled the issuance of those reckless loans. Banks and mortgage companies had no intention of holding those risky mortgages on their books for the 15 to 30 year duration of the term but instead sold the loads to the Wall Street firms that bundled them into mortgage backed securities (MBS) and sold them around the world with the implicit guarantee that the government would provide a taxpayer backstop when these inevitably blew up. As we all know now that implicit guarantee turned explicit when the Wall Street hustlers came crawling to Congress in 2008.
US house speaker announces ‘new axis of evil’
-
[image: Preview] Mike Johnson has embraced the rhetoric of the Bush era in
a bid to funnel more weapons to Ukraine
Read Full Article at RT.com
Israel Can't Afford Escalation With Iran and Gaza
-
The Gaza war and tensions with Iran have taken a toll on Israel's economy,
leading major rating agencies to downgrade the Jewish state's credit rating
by o...
After Iran’s retaliation
-
[image: Iranian military conducts nationwide drills in 2022. (Photo:
Salampix/Abaca via ZUMA Press/APA Images)]Israel's apparently limited
response to Iran...
India: Modi and the rise of the billionaire Raj
-
A general election in India starts today. 970m Indians, more than 10% of
the world’s population, will head to the polls in what will be the largest
electi...
Why I Rarely Care About The Events Of the Day
-
[image: Why I Rarely Care About The Events Of the Day]
There are two forces in history.
The first is weight. Or mass. Or trajectory. The unstoppable force...
Signs of weakening in the Australian labour market
-
Today (April 18, 2024), the Australian Bureau of Statistics released the
latest – Labour Force, Australia – for March 2024, which shows that the
labour mar...
The Farce of Diplomatic Assurances
-
The United States has now, on the face of it, produced the Diplomatic Note
giving the two assurances required by the High Court to allow the
extradition ...
Hilarious and Philarion
-
Lots going on this weekend….join the con-versation. Speak words. Use
language thatsymbolizes acts and objects: a cat,a verb of action,
adjectives. The dawn...
Media Say ... Gloom And Doom In China
-
The New York Times, and other western media, are running a 'doom and gloom
in Xi's economy' campaign. The latest entry is this piece: China’s Economic
Pain...
Baddiel, an ignorant, arrogant charlatan
-
If Twitter obsessed David Baddiel's book, *Jews Don't Count* was a
*Wikipedia* entry it would be flagged as having "multiple issues".
The first problem ...
The Great Student Loan Ruse
-
These appalling figures don't fully capture the cruelty of the reality to
which they refer.
The post The Great Student Loan Ruse appeared first on The Co...
Moving Interruptus, and Why Hospitals Suck
-
In the event, June turned out to be the horrible month I had expected --
but June also proved unexpectedly resourceful. It was horrible for reasons
I hadn'...
Taking our final steps
-
From the ISO
Members of the leadership team responsible for carrying out the decisions
made by current and recently resigned ISO members in voting to diss...
On Fetish
-
God creates Adam and immediately—sooner than we thought—He speaks to him.
This first address, according to the midrash, is a seduction:
*“And the Lord ...
Responsibility Is For The Poors
-
*Paul Ryan fixing Obamacare.*
Let's talk about responsibility.
When you break something, you have a responsibility to fix it. When you do
your damnede...
Yoshie Furuhashi, "After MRZine"
-
[image: MRZine]Today MRZine comes to an end, after over a decade's run.
Thank you for your past support. . . . My next project is to establish
Movement Tra...
Trump Era Fresh
-
For those who still swing by to see if I'm around, you might want to go here.
Yes, it's a new site for a New Day. Let's learn together.
The Return on My Investment
-
By: Aaron Datesman
It's easy to recognize a win when it comes with a trophy at the end (or, in
the case of politics, an inauguration). It's harder to rec...
It's really very simple
-
[Note: I am pushing this article live two days early because ZeroHedge
somehow managed to get a hold of it and post it before I did. Needless to
say, I do...
5 comments:
Alas, Coldie, my dear comrade, Mr. Wolff's final comment American workers will discover "with vengance" class is wrong as wrong can be.
The American working class has been duped soooo long by this crooked American "free market" system I think there is no turning back.
Look at our fellow officers. They would sooner cut off their left nut than to even agree with half of this presentation. They blame the poor and not the bankers.
We can only try to enlighten them Coldie. They'll never listen though. They will call Obama a Socialist, when we know he is only a tool for the rich.
"leftisthebest"
You speak the truth Lefty but we have no choice but to keep plugging away.
The Banking industry as a whole ingnored long held loan issuing guidelines.Why,I really dont know,but they did give out these "toxic" loans to folks who should not have received them.
There were perverse incentives that fueled the issuance of those reckless loans. Banks and mortgage companies had no intention of holding those risky mortgages on their books for the 15 to 30 year duration of the term but instead sold the loads to the Wall Street firms that bundled them into mortgage backed securities (MBS) and sold them around the world with the implicit guarantee that the government would provide a taxpayer backstop when these inevitably blew up. As we all know now that implicit guarantee turned explicit when the Wall Street hustlers came crawling to Congress in 2008.
Can't wait for the conventions, Coldie, how about you?
Just kidding. More political nonsense from the super rich in massive brainwashing of blind followers of both parties.
"leftisthebest"
Post a Comment