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  • The OB Media Rundown for 5/13/12

     ‘Seize and pay tribute:’ Lessons for America from recent finance capital conquests in Europe

    Finance today is the means of conquering a country and getting what in the past took an army. Financial conquest is how you shift the taxes onto the population to pay the financial sector, how you load a population down with debt and make a population pay interest and amortization and penalties on debt service, you make a population pay for schooling instead of getting it free or a low price as used to be the case, you make a population take on a lifetime of debt in order to get a home that used to be affordable, you make the governments go into debt for the banks, so that in Europe governments can’t-don’t have a central bank to monetize their own deficits but actually have to borrow money from banks. You achieve-you essentially empty out an economy, and you take its economic surplus financially without an army, just by trying to promote what really is junk economics and junk politics, if the economics of Rubinomics in America under Clinton and Rubenomics in America under George Bush, and now with a vengeance under Obama-.

    http://tinyurl.com/br96swl

    100,000 march in Spain over austerity

    At least 100,000 Spaniards angered by grim economic prospects and the political handling of the international financial crisis have turned out for street demonstrations in the country’s cities, marking the one-year anniversary of a movement that inspired similar pressure groups in other countries.

    http://tinyurl.com/6t7cuqo

    Deconstructing strident pro-austerity bias in American journalists’ economic coverage

    The reporters’ adoption of the German perspective leads them to emulate Berlin’s refusal to consider the Greek perspective.  Instead, the reporters’ adopt the German framing of the issue.  That framing is that the Greeks are inexplicably “refusing to abide by the terms of the country’s international loan agreement.”  The idea that the Greek people should continue to take the Berlin elevator that has plunged their nation into a great depression because their disgraced leaders were coerced into agreeing to a deal that is destroying their nation is insane.

    Democracy is all about throwing out leaders who have disgraced themselves, crushed the nation’s economy, and cravenly taken orders from a hostile foreign power.  The Greeks have done just that.  Why would anyone expect the Greeks to continue to follow a suicidal economic policy imposed by Germany?  Berlin and the NYT reporters share the bizarre belief that if your coerced leaders sign a suicide pact you have a duty to commit suicide because – a deal is a deal.

    http://tinyurl.com/bpy2y2s

    230,000 jobless Americans lost their unemployment insurance this weekend

    More than 230,000 jobless Americans will lose their unemployment insurance by this weekend as reductions in the federal program that provides extended benefits to the long-term unemployed take broader effect.

    The new round of reductions is hitting eight states this month, meaning that about 400,000 long-term unemployed Americans in 27 states will have been cut off of the federal government’s extended unemployment benefits program this year, according to an analysis by the National Employment Law Project, which advocates for the unemployed.

    The cuts stem from a congressional agreement this year that will reduce the maximum duration of unemployment benefits from 99 weeks to 79 weeks as the nation’s jobless rate declines.

    http://tinyurl.com/73wzduv
    Continue reading “The OB Media Rundown for 5/13/12” »

    GA speakers advocate for public banks, re-regulation and even nationalization in the banking and finance sectors

    Above, Jim Campen, professor emeritus of economics at  UMass-Boston and a former executive director of Americans for Fairness in Lending, discussed the flow of money, credit, goods and services through the economy at tonight’s general assembly.Campen spoke first and the photographer came in late, and so can’t provide much detail about his talk.

    Fred Mosely, economics professor at Mt Holyoke College, reviewed the history of US banking, focusing on the insight that capitalism is inherently unstable without vigorous, active regulation. He appealed for a return to policies that would propel the government to nationalize failing banks and sack their dysfunctional boards of directors – rather than throw bailout money at them. Mosely also advocated for public state-owned banks, and listed their advantages as including:

    • Acting as a ‘public option’ in banking whose presence helps to stabilize the whole banking system.

    • Provide counter-cyclical lending to minimize recessions.

    • Provide low interest rates on home mortgages and student loans.

    • Can allocate credit to achieve social-eoconomic objectives such as affordable housing, green energy, health care, etc.

    OB Financial Management Restructuring, Underway . . .

    On May 6, 2012, fifteen members of the Occupy Boston community met to discuss the next phase of Occupy Boston’s financial management.  By meeting’s end, participants consented to begin the process to set up new structures to address Occupy Boston’s finances, in regards to accounting, liability and governance.  This work will continue at OB’s Financial Accountability WG’s next meeting, on 5/16/12.  All are welcome.

    Please see meeting minutes here:  https://docs.google.com/document/d/18T1MBqS6yqQwjyURkbOCRkQzkAGKY-PD-J_JnUgjDcU/edit

    Occupiers from around the region gather in Worcester TODAY for the M12 Global Day of Action

    Come join Occupy groups from all around New England as we converge in Worcester for a day of action and networking! The day will have four core key components to it: getting as many Occupy groups and participants in one centralized location at the same time for a day of networking and planning, direct actions and public visibility, continued actions against corporations backing ALEC, and finally the flared up “War on Women” – discussion on women’s issues (rights, health care, etc…).

    Bring your Occupy Boston signs and banners, rep your local group too. We love to know where you came from.

    This is, a non-violent protest, but just be aware the Worcester PD has a reputation of conducting political related intimidation tactics and may be tempted to arrest people as a result the second they perceive people step out of line.

    Occupy New England has answered the call of the global day of action by various groups in Spain,the anniversary of last year’s 15M protests in that country. A global manifesto released for this event states the following:

    We have not remained silent! From Tunisia to Tahrir Square, Madrid to Reykjavik, New York to Brussels, people are rising up to denounce the status quo. Our effort states “enough!”, and has begun to push changes forward, worldwide.

    This is why we are uniting once again to make our voices heard all over the world this 12 May.

    We condemn the current distribution of economic resources whereby only a tiny minority escape poverty and insecurity, and future generations are condemned to a poisoned legacy thanks to the environmental crimes of the rich and powerful. “Democratic” political systems, where they exist, have been emptied of meaning, put to the service of those few interested in increasing the power of corporations and financial institutions.

    The current crisis is not a natural accident; it was caused by the greed of those who would bring the world down, with the help of an economics that is no longer about management of the common good, but has become an ideology at the service of financial power.

    We have awakened, and not just to complain! We aim to pinpoint the true causes of the crisis, and to propose alternatives.

    Preliminary timeline of events:

    Continue reading “Occupiers from around the region gather in Worcester TODAY for the M12 Global Day of Action” »

    Occupy Boston Daily Digest for 5-12-12

    Good Morning from Occupy Boston!

    Stories of the Day: The NYPD is sexually assaulting peaceful protesters. OWS protester Cecily McMillan was not only groped but suffered a broken rib and seizures during her arrest on March 17, and held incommunicado, denied constant requests to see her lawyer, for over 24 hours thereafter. Shortly after release from the hospital she appeared on Democracy Now! and showed part of a handprint, replete with scratch-marks, that police had left directly over her right breast. (She is currently pursuing civil charges against the police department). For more, see New Police Strategy in New York: Sexual Assault Against Peaceful Protesters. And this May Day brought the explosive global resurgence of Occupy, one of the most significant social movement in decades. In New York City, the heart of global capitalism and center of the movement, the New York Civil Liberties Union estimated that 30,000 demonstrators took part in a massive rally and march down Broadway, led by a score of city taxicabs. As has become alarmingly common for a country that constantly proclaims its zealous devotion to democracy, the day ended with brutal police violence and arrests. … The powerful rejuvenation of the Occupy movement, however, was used by the US media – owned by the very same interests that Occupy directly threatens – as an opportunity to [try to] kill the Occupy movement and marginalize the voices of its participants. For more, see The Corporate Media’s Attempt to Kill the Occupy Movement. In other news, the House on Thursday passed its plan to spare the military’s growing budget from mandatory cuts, instead slashing Medicaid, benefits for federal workers and programs to help feed hungry Americans. “How do we reconcile more money for bombs while cutting money for bread?” asked Rep. Dennis Kucinich (D-Ohio). “The real deficit that we are dealing with here is a moral deficit, and it’s time that we face the truth.” For more, see Paul Ryan Budget: House Passes Bill to Spare Defense, Cut Food Aid. And: If the world’s largest surveillance agency has a working relationship with the world’s largest Internet firm, that’s no one’s business but theirs, according to an appeals court in the DC Circuit. In the ruling issued Friday, (PDF here ) the court decided that the National Security Agency doesn’t need to either confirm or deny its relationship with Google in response to a Freedom of Information Act (FOIA) request filed by the Electronic Privacy Information Center, ruling that a FOIA exemption covers any documents whose exposure might hinder the NSA’s national security mission. For more, see Court Rules NSA Doesn’t Have to Reveal its Semi-Secret Relationship with Google. In other privacy news, Twitter has filed a motion in state court in New York seeking to quash a court order requiring it to turn over information about one of its users and his communications on Twitter. This particular case involves a Twitter user, Malcolm Harris, who is being prosecuted by the District Attorney’s Office in Manhattan for disorderly conduct in connection with the Occupy Wall Street protest that occurred on the Brooklyn Bridge last year. For more, see Twitter Stands Up For One of its Users. And ever wonder what it’s like to have FBI agents knock on your door? Or to have them walk into your business unannounced and walk away with your computer?  Jamie McClelland and Alfredo Lopez can tell you. McClelland and Lopez run a progressive Internet organization called MayFirst/PeopleLink, which helps democracy-seeking groups around the world use the Web to organize. Together with sister organization RiseUp, MayFirst/PeopleLink offers email services, mailing list support and other Web tools. But their services make a promise that’s critical to people fighting oppressive regimes: All data is encrypted, guaranteeing total anonymity to those who need it. For the story, and a news report, see The FBI Took – And Mysteriously Returned – Their Server.

    Other Occupies/Protests: As many as 200,000 angry public sector workers staged a day of protest on Thursday, taking to the streets of London to voice their disgust at proposed government cuts. Among the demonstrators were civil servants, lecturers, health workers, Ministry of Defence staff, and immigration officers – fueled by ministers’ vows to press ahead with the controversial reforms, made clear in yesterday’s Queen’s Speech. About 20,000 off-duty police officers from all 43 forces across England and Wales also took to the capital for the first police march there in more than four years. The officers, banned from striking under law, were protesting against 20 percent cuts to the national police budget and proposals for the most wide-ranging reform of pay and conditions seen in more than 30 years. 16,000 officers wore black caps to represent expected job losses over the next four years. For coverage including a video, see British public sector rises up as 200,000 strike against cuts and reforms. And from Occupy London: on May 12, the Occupy, indignados and take the squares movements all over the world have called for a global day of action. Saturday will start with a teach-out at St. Paul’s at 1pm, organised by the Tent City University, the educational arm of Occupy London. It is aiming at promoting informed political action and exploring viable economic alternatives before we pay a visit to the City institutions that caused and continue to profit by the crisis. The day will see citizens using peaceful, creative ways to deliver their own messages to the financial and corporate elite of the City. We will continue to exercise our right to peacefully assemble in public spaces and develop the democratic processes to address the problems we face. For more, see Occupy London Strikes Back.

    “Progress is impossible without change, and those who cannot change their minds cannot change anything.” George Bernard Shaw

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