In Recognition of Hugo Chavez's Admiration and Appreciation of Istavan Meszaros

István Mészáros, Pathfinder of Socialism
Posted on February 22 2010 by admin

“Today the structural crisis of capital provides the historical setting for a new revolutionary movement for social emancipation in which developments normally taking centuries would flit by like phantoms in decades or even a few years. But the force for such necessary, vital change remains with the people themselves, and rests on humanity’s willingness to constitute itself as both subject and object of history, through the collective struggle to create a just and sustainable world.”

By John Bellamy Foster

"THE CRISIS AND THE LEFT - Change will come as the third world’s economies are hit harder" Prabhat Patnaik

In his new book, Power Systems, Noam Chomsky raises the question: why has the present economic crisis not evoked the sort of massive protest from the working class in the United States of America that the Great Depression of the 1930s did? True, the scale of unemployment today is not as large as it had been during the 1930s. Nonetheless it is substantial; and the crisis has already lasted five years with no end in sight. And yet, America remains a ‘desert’ in terms of any militant working-class mobilization against it.

Looming Sequestration Cuts Will Hit D.C. the Hardest By Roy Oppenheim March 1, 2013

With so many federal workers living in and around our nation's capitol, those federal spending cuts will eventually translate to job cuts and unpaid mortgages.

The dreaded sequestration deadline has arrived, and with it $85 billion in automatic spending cuts that could plunge the nation's strengthening economy back into the depths of recession.

(For some light reading on the topic, check out the 394-page Office of Management and Budget report.)

[ALSO: Hail Marys to Prevent Sequester Fail ]

"IN PRAISE OF POLITICAL DYSFUNCTION" By Marshall Auerback from New Economic Perspectives, UMKC

The lamentable state of American political parties has become common sport amongst the chattering classes in DC and beyond, although one wonders whether this dysfunction has really been such a bad thing when considering how united bipartisan “responsible” action always seems to result in yet more budget cuts.

The Government Has It Bass-Ackwards: Failing To Prosecute Criminal Fraud by the Big Banks Is Killing, NOT Saving, the Economy

By Yves Smith of Naked Capitalism

U.S. Attorney General Eric Holder said today:

*I am concerned that the size of some of these institutions [banks]becomes so large that it does become difficult for us to prosecute them* when we are hit with indications that if you do prosecute, if you do bring a criminal charge, *it will have a negative impact on the national economy, perhaps even the world economy*

"Hyperinflation! The Libertarian Fantasy That Never Occurs" By Philip Pilkington, Naked Capitalism

Hyperinflation! The Libertarian Fantasy That Never Occurs

/*By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil*/

Video on Wealth Inequality

I hesitate to post this, because this is where many people get stuck, and then suppose that austerity is a good thing or that OMG (the hair on fire brigade) they accept the nonsense propaganda that even BHO has accepted entirely. Taxation of the wealthy is only a small part of the solution, and by the way the wealthy ARE NOT JOB CREATORS. 70 % OF NEW JOBS ordinarily come from small businesses. The actual wealth distribution is a political choice that has been made for us by the corruption of our political process and culture.

Wall Street’s latest Really BAD idea By Tracy Alloway

For centuries, scientists and philosophers attempted to turn cheap base
metals into the precious gold and silver used as ancient coinage. Now,
bankers are endeavouring to achieve a Wall Street equivalent.

Known as “collateral transformation”, this new business is emerging as a
rare bright spot in the banking industry. On Wall Street, where new
regulations and competitive pressures have hurt profits, there are hopes it
will boost bank earnings.

Yet collateral transformation – which involves turning relatively risky

Sequestration – the Fourth Austerity Shoe Drops

Latest segment from The Black Financial and Fraud Report at

An interview that includes Dr. Stephanie Kelton from UMKC

I will come back to this there are three related segments of Chris Hayes's UP show. The last time around Dr. K. was partly shut out of the conversation by blather heads.

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