wall street

When the global financial crisis resurfaces, we the people will have to fill the vacuum in political leadership. It will call for a monumental mobilisation of citizens from below, focused on a single and unifying demand for a people’s bailout across the world.
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Wall Street owns the country.  That was the opening line of a fiery speech that populist leader Mary Ellen Lease delivered around 1890. Franklin Roosevelt said it again in a letter to Colonel House in 1933, and Sen. Dick Durbin was still saying it in 2009.

Maybe it makes me unsophisticated, but I don’t think about the stock market that much. I know that many say it’s the central nervous system of our economy. I know its estimated worth is around $30 trillion. And I know that when it tanks, the lives of millions of Americans are wrecked, ruined and upended. I know that when that happens, the powerful millionaires (and billionaires) who caused said destruction generally grab their money and their well-coiffed dogs and run for it.

“With no jail time for executives and half a trillion in post-crisis profits, the big banks have made out like bandits during the post-crash period.” (CD) — The 2008 financial meltdown inflicted devastating financial and psychological damage upon millions of ordinary Americans, but a new report released by Public Citizen on Tuesday shows the Wall Street banks that caused the crash with […]

The United States today qualifies as a plutocracy – on a number of grounds, and it is having a profound impact on the media, education and think tanks–indeed on the whole of society, says Michael Brenner.  By Michael Brenner Plutocracy…Read more →

Ten years ago, there was panic in Washington, DC, New York City and financial centers around the world as the United States was in the midst of an economic collapse. The crash became the focus of the presidential campaign between Barack Obama and John McCain and was followed by protests that created a popular movement, which continues to this day.
 

Jail Bankers Not Protesters, Occupy Wall Street, 2011 (Photo by Stan Honda for AFP-Getty Images)

India celebrates its independence from Britain on 15 August. However, the system of British colonial dominance has been replaced by a new hegemony based on the systemic rule of transnational capital, enforced by global institutions like the World Bank and WTO. At the same time, global agribusiness corporations are stepping into the boots of the former East India Company.

The New York Times screamed its Headline— “In 1997, Apple was 90 Days from Going Broke. On Thursday [Aug. 2, 2018], It Became the first publicly traded American company to be valued at…$1,000,000,000,000.” The first trillion dollar company!

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. To make the central bank serve the needs of the economy, it needs to be transformed into a public utility.