Economic crisis again

This video from Ireland says about itself:

Socialist Party signage and participation visible in the largest demonstration in 30yrs, 100,000+ people marched through Dublin on Saturday to protest at government plans to institute a 3-10% increase in pension contributions in the face of a deepening recession and bailouts for the banks.

The government said the measures were necessary to show international investors that Ireland was tackling its finances. That kind of language is common to IMF recipient countries, “sorry population we have to cut social services and institute an undemocratic cut in order to show global capitalists that we support their ideologically driven models and will ensure them profits on their investments at the expense of the quality of life of our citizens.

Whether I am in Suriname or not, other events continue. Like the economic crisis.

Economic slump deepens in Japan as exports collapse: here.

USA: Flight 1549 pilot tells Congress: Airline employees “hit by an economic tsunami”: here.

Obama talks tough on global economic crisis: here.

The high doctrine of Economic Correctness of the Reagan-Bush-Clinton-Bush years is as bankrupt as Soviet Communism. It is all but officially dead. Why then are the president’s economic advisers paid to prop it up? Here.

USA: It’s Not Just EFCA: Banks Spend TARP Funds on Anti-Consumer Lobbying: here.

Australian banks dictate jobs axe at Pacific Brands: here.

Britain: RAIL workers heaped scathing criticism on their “Fat Controllerbosses on Wednesday for plotting to award each other hundreds of thousands of pounds of taxpayers’ cash in bonuses: here.

Britain: WORKERS at the Financial Services Authority are set to share £21 million in bonuses this year despite the regulator admitting failures over the banking crisis, its chief executive revealed on Wednesday: here.

6 thoughts on “Economic crisis again

  1. Bail Out the People Movement [USA]
    March on Wall Street
    April 3 & 4

    * Endorse the Call for April 3 & 4:
    * Become a local organizer:
    * Donate to help with organizing expenses:
    * Download the BOPM Working Paper:

    Bail Out People not Banks!
    Help Build the First National March on Wall Street April 3-4!

    February 13, 2009

    Dear activists,

    Events have called upon us to make history. Future generations will look back on this moment to see whether we were able to understand what is at stake, and rise to the occasion.

    We call upon you to join with the Bail Out the People Movement and the many community leaders, activists and organizations that are part of it, to help organize the first National March on Wall Street on Friday, April 3 and Saturday, April 4.

    Yes! This is a two-day event. The first phase of the march will begin on Friday, April 3; thousands traveling to New York City from all over the country will join us on Saturday, April 4.

    We invite you to a planning meeting for the national march, on Wednesday, February 18, at 6:30 p.m. at the CUNY Graduate Center, 365 Fifth Ave., New York City. (between 34th & 35th St. – you’ll need ID to get into the building. Trains: N, R, W, B, F to 34th St.; PATH to 33rd St.)

    The Wall Street march will take place during the same week that the G20 countries are holding their second emergency global economic crisis summit meeting in London on April 2 and 3, which will be followed immediately by a 60th Anniversary of NATO summit meeting in Strasbourg, France on April 4. Both meetings will be the focus of strong protests against war and for economic justice.

    For all of who have made a serious commitment to fighting for social and economic justice, the worsening global economic depression (Yes, it is a depression. It’s time to call it what it is!) is the life-changing event that’s going to define the challenges and test the seriousness of our movement.

    This crisis, which is firing 20,000 workers, and evicting 15,000 from their homes every single day in the U.S. alone, is not going away. It’s only going to get worse.

    The crisis is overwhelming, frightening, and almost surreal. Many of us are fighting the layoffs, evictions and budget cuts at the local level. Doing so is both necessary and critical.

    However, we must begin the process of coalescing around national mass actions. The big banks and their friends in Washington are way ahead of us in this regard.

    Coalescing local and national activists and organizations–and most importantly, the millions of people whose living standards and survival are at stake, is the most important goal of the April 3 and 4 National March on Wall Street.

    The mass anger over the continuing bank bailout has the aristocracy of Wall Street and the politicians in Washington scared. But anger that is not organized into mass movement is wasted and ultimately ignored by the powers that be.

    As extraordinary as the outcome was of the November elections, clearly the elections alone have not been enough. As activists, we can no longer afford to wait for others to come forth and organize mass resistance.

    The so-called “stimulus” legislation may eventually help a few people but it will not even put a dent in the layoffs, evictions, and budget-cutting contagion. The big banks are asking for another $2-3 trillion in bailout money. The money in the stimulus bill allotted to help people facing foreclosure is less than 2% of that sum.

    The march on Wall Street has been planned to coincide with the anniversary of the assassination of Dr. Martin Luther King, Jr. There are many reasons one could think of to do this.

    Just as Dr. King knew that the Civil Rights Movement would not be viable unless it was also part of the antiwar movement, he knew that freedom would never be possible until everyone had the right to a job with a living wage, or an income. This was the message that Dr. King spent the last year of his life trying to convey.

    And it’s a message that could hardly be more relevant today. Another important message from Dr. King reminds us of what is so fundamental to his legacy, “Freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed.”

    People have been waiting for the call for a National March on Wall Street that demands a Bail Out of the People, not the Banks. That call has been issued; support for it is growing every day with hundreds of endorsements. (See for the endorsers’ list).

    However, it is the commitment that you make to organize for the Wall Street march that is going to be decisive.

    Let us come together and be decisive.

    In solidarity,

    Bail Out the People Movement

    * Endorse the Call for April 3 & 4:
    * Become a local organizer:
    * Donate to help with organizing expenses:
    * Download the BOPM Working Paper:


  2. It’s Time Ordinary Americans Got a Real Stimulus

    Dear Friend:

    The origin of our country’s economic crisis is the collapse of the housing market. We are experiencing foreclosure rates not seen since the Great Depression.

    I’m frustrated that while we are spending hundreds of billions to help banks, we have done nothing to help out homeowners.

    Tell Congress: It’s time to help American families keep their homes

    Every day in my hometown, 126 families lose their homes. As the law is currently written, mortgage lenders have more incentive to foreclose on a home than to modify the loan.

    We need to level the playing field and give homeowners a fighting chance.

    Tell Congress: It’s time ordinary Americans got a real stimulus

    I have been working with my colleagues in the House and Senate to pass legislation helping homeowners facing foreclosure. But there are very powerful interests working against us.

    President Obama wants to enact mortgage relief legislation. We need to let Congress know that help for homeowners can’t wait any longer. It’s time to do what’s right and help those on the front lines of this economic crisis.

    Thank you for your commitment to a better democracy.

    Your Friend,

    John Conyers, Jr.


  3. Low-Wage Capitalism describes in sweeping detail the drastic effect on the working class in the United States of new technology and the restructuring of global capitalism in the post-Soviet era. It uses Karl Marx’s law of wages and other findings to show that these developments are not only continuing to drive down wages but are creating the material basis for future social upheaval.

    This analysis gives the historic background to the present economic crisis. It uses concrete examples of past labor struggles to point the way forward for the multinational working class today. Citing the necessity for the working class to challenge the old capital-labor relationship and find ways to expand workers’ rights to their jobs, housing and all other necessities of life, Goldstein raises a number of exciting possibilities for future struggles. Some of these are already being seen in such actions as the occupation of the Republic Windows & Doors plant in Chicago.

    “With the capitalist system demonstrably unfair, irrational, and prone to intermittent crises, it is useful, indeed refreshing, to see a Marxist analysis of globalization and its effects on working people. Fred Goldstein’s Low-Wage Capitalism does exactly that.”
    —Howard Zinn, author of
    A People’s History of the United States

    “Low-Wage Capitalism by Fred Goldstein is a most timely and important work, as the work­ing class prepares for a ‘fightback’ during the greatest crisis of capitalism since the Great Depression.”
    —Clarence Thomas, Executive Board ILWU Local 10 and
    Co-chair, Million Worker March Movement

    “From the point of view of Filipino workers in the United States, the largest exploited and abused Filipino workforce outside the Philippines, with over 4 million in the country, we are pleased with the exposé of imperialist globalization as the main culprit of global forced migration. Only by understanding capitalism and monopoly capitalism can we understand the root causes of global poverty and migration.”
    —Berna Ellorin, Secretary-General, BAYAN USA

    “ Lucid, deeply accurate and informative, as relevant and useful as a book can be, Goldstein offers a compelling analysis of the exploitative world of global corporate capitalism.”
    —Michael Parenti, author of Contrary Notions

    “160 years after the publication of the Communist Manifesto, Fred Goldstein takes on the challenge of applying Marxist political economy to the burgeoning crisis of capitalist globalization in the 21st century. Not only does he provide a concise analysis of the recent period, but the author is bold enough to advance what could very well be the outlines of a fight-back program for workers and the oppressed that will guarantee a socialist future.”
    —Abayomi Azikiwe, Editor Pan-African News Wire
    and Contributing Editor for Workers World

    “ In this period of economic uncertainty, Fred Goldstein’s
    Low-Wage Capitalism could not be better timed. Beautifully written, deeply considered and backed by impressive research, this is essential reading for anyone wishing to understand the true nature of the world we live in and the factors that have led to so much turmoil. Employing Marxism as an analytical method, Goldstein has succeeded in creating a bracing corrective to the pablum served by the corporate media, and a salutary review of the labor movement. Urgently recommended.”
    —Gregory Elich, Author of Strange Liberators

    “This book helps us to understand the root of the present neoliberal globalization—a new stage of the international capitalist crisis—which was imposed by U.S. imperialism and which devastated and dominated Latin American economies, forcing millions of workers to emigrate to the U.S. looking for jobs. They found exploitation and humiliation.”
    —Ignacio Meneses, Co-chair, US-Cuba Labor Exchange

    “We need to get this book into the hands of every worker. It clearly explains the capitalist economic threat to our jobs, our pensions and our homes. But, even more importantly, it shows us how we can fight back and win!”
    —David Sole, President UAW Local 2334, Detroit, Mi.


  4. Dear Friends, Colleagues and Supporters,

    Watch the video
    1. Share this video
    2. Send us your story

    If you’re a Wall Street executive who drove your firm into the ground and nearly capsized the U.S. economy, it seems like all you have to do these days to get a multibillion dollar bailout from Congress is put your hand out.

    But if you’re like Guillermo San Pedro, a hardworking truck driver in Los Angeles who fell victim to a predatory loan and is at risk of losing his home, you’re on your own.

    Watch this video:

    Eight million people are at risk of losing their homes because Wall Street abandoned responsible lending practices to gain short-term profits. The housing crisis is not just a problem for families facing foreclosure – it’s a problem for every homeowner in America. As long as foreclosures persist, home values will keep going down, and everyone loses. No Wall Street bailout will fix that problem.

    We’re collecting stories from people all over the country who have been hit by the housing crisis so we can show what’s really happening on Main Street: while Wall Street takes hundreds of billions of dollars in taxpayer money to pay for lavish executive bonuses and luxurious office furniture, homeowners at risk of foreclosure still aren’t getting any relief.

    We need your help. Have you been affected by the housing meltdown? Foreclosed on? Underwater? Trapped in a predatory loan? Do you know anyone else whose life has been turned upside down by the collapse of the real estate market? Record your story, or the story of a friend, family member, co-worker, or neighbor, and send it to us. If you have a video camera or webcam, then please send us your video. You can also add your written story along with a photo we can post on our interactive map.

    We have gathered almost two dozen videos recorded and sent in by people telling their foreclosure story or a friend’s. Here are two of them and check the site for more.

    Penny from Texas

    Penny from Texas:

    Holly from Florida

    Holly from Florida:

    Help us tell the stories of families impacted by the housing crisis so we can give them a megaphone louder than Wall Street’s. The banks have gotten their handouts; now it’s time for working Americans to be put first.

    Robert Greenwald
    and the Brave New Foundation team



    Endorse April 3 & 4 | Donate | Bail Out the People Movement Home

    Bail Out the People Not the Banks

    In Memory of Martin Luther King, Jr: Announcing a NATIONAL
    April 3 & 4


    Moratorium on Evictions & Foreclosures




    Bring the Troops Home

    Housing & Healthcare
    Are a right

    No Transit
    Fare Hike

    Bail out Students and YOUTH




    The March on Wall Street was one of the events approved by hundreds of activists at Fight Back conferences in NYC in LA in January. There will be a report back from the conferences at the Feb. 18 planning meeting.

    March On Wall Street

    Friday APRIL 3 AND Saturday APRIL 4

    Yes, 2 days starting Friday. More people from around the country will join us Saturday – Watch for assembly locations and times.


    Wed., February 18 – 7 P.M.
    CUNY Graduate Center
    365 5th Ave., between 34th & 35th St.
    (you’ll need ID to get into the building)
    Trains: N, R, W, B, F to 34th St.; PATH to 33rd St.

    March on Wall Street on the Anniversary on the day Martin Luther King gave his life fighting for social and economic justice. Why? Because we must demand that the needs of the people come before the greed of the super rich. Millions are jobless and homeless, and millions more will be living on the streets if the government continues to waste trillions of dollars on saving wealthy bankers instead of saving people.
    Dr. King would have been appalled and opposed to the terrible siege of Gaza as well as the continuing occupations of Iraq and Afghanistan.

    And just as King knew that the struggle for civil rights at home had to also be part of the struggle against war abroad, he understood that no one, regardless of their race would be free until everyone had the right to a decent paying job or an income for those unable to work. Most importantly, King also understood that “Freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed.” The time for suffering in silence has come to an end. Nothing will change unless our desperation and anger is channeled into a mighty movement that unites and fights. It’s time to march on Wall St. Come to the march, and tell everyone you know to come with you.

    Below is a partial list of Endorsers of the March on Wall Street: Ad Hoc National Network to Stop Foreclosures and Evictions; Black Workers for Justice, Raleigh, NC; North Carolina Public Service Workers Union-UE Local 150; Moratorium Now! Coalition To Stop Foreclosures and Evictions (Michigan); Labor/Community Coalition to Stop Foreclosures and Evictions (Calif.); Service Employees International Union, Local 721; Latino Caucus, SEIU Local 721; BAYAN USA; May 1 Coalition For Worker and Immigrant Rights (NYC); Million Worker March Movement East; Chris Silvera, Sec-Treas., Teamster Local 808; Harlem Tenants Council, New York, NY; Private Health Insurance Must Go Coalition, New York City; NY Charles Barron, member, New York City Council*, Queers for Peace and Justice, Women’s Fight back Network (Mass.),Fight Imperialism, Stand Together (FIST youth), International Action Center; Action Center For Justice, Charlotte, NC; Queers Without Borders, Hartford, CT; Maine Green Independent Party; Old Orchard Beach, ME; Guyanese American Workers United, New York, NY; Pakistan USA Freedom Forum – * For identification purposes only

    For more endorsers, or to endorse – go to
    212.633.6646 Email:



    Sign the ONLINE PETITION and Call on Baltimore City Council and Sheriff John W. Anderson to Stop Foreclosures!

    Help Make Baltimore City a Foreclosure & Eviction Free Zone

    Community activists in Baltimore are now at a critical juncture in the struggle to stop foreclosures. With your help we can win an important victory. Please help by urging city council to do the right thing.

    After picket lines, press conferences, letters and petitions calling on the Baltimore city sheriff to follow the example of the sheriffs of Wayne County (Detroit), Cook County (Chicago) and Philadelphia who have declared halts on foreclosures, activists have learned that Sheriff Anderson is willing to take such a stand if Baltimore City Council directs him to do so. Please help make Baltimore a foreclosure and eviction free zone by sending the message below to the Baltimore City Council, with copies to the Mayor, the Maryland Congressional Delegation, the Maryland Legislature, Sheriff Anderson and the media, urging the councilors to take action now and do the right thing!

    Donate to the campaign at

    Send the following message to the Baltimore City Council, Baltimore Mayor Sheila Dixon, Baltimore Sheriff John Anderson, the Maryland Congressional Delegation, the Maryland legislature, the Baltimore Sun and members of the national and Baltimore media:

    To: Baltimore City Council
    CC: Mayor Sheila Dixon, Maryland Legislature, Maryland Congressional Delegation, Sheriff Anderson, Local and National Media

    Dear Baltimore City Council members:

    I sincerely commend each and every one of you for passing important resolutions calling on Congress to declare a moratorium on a national level, for holding investigative hearings, and for all of your hard work on this issue.

    But at this moment you have both a special opportunity and a responsibility to take specific and concrete actions that will immediately impact the lives of entire families and neighborhoods who are threatened by the foreclosure epidemic.

    We have learned both through individual council members and through Sheriff John Anderson’s Lieutenant, Samuel Cogen, that the city’s sheriff’s office is willing to halt foreclosure action if it is directed to do so by the Baltimore City Council.

    Our communities are in a state of total emergency — joblessness and budget cuts are wounding us all. Boarded up houses and torn apart families threaten the well being of our city.

    It is unfair that the bankers have received billions of dollars while so little has been done to help workers and the poor. Until we can stop the hemorrhaging—and turn this around—we urge our representatives to take a crucial step that will allow us the time to figure out broader solutions.

    Pass a bill and resolution as swiftly as possible to direct Sheriff Anderson to declare a moratorium on conducting foreclosure action and forcing families out of their homes and into the streets.

    (Your signature will be appended here based on the contact information you enter online)

    Initial Signers:
    Pastor Heber Brown III; Sharon Black, Network to Stop Foreclosures & Evictions—Bailout the People Movement; Andre Powell, AFSCME Delegate, Baltimore Metro. Central Labor Council AFL-CIO; Kevin Zeeze, Executive Director, Campaign for Clean Air & Clean Politics; Darren Muhammad, Chairperson, Black Think Tank; Maria Allwine, MD Green Party; Max Obuszewski, Baltimore Nonviolence Center; Charlie Cooper, Generations for Peace & Democracy; Leo Burroughs, MD Coalition for BGE Reregulation (partial list)

    STOP the Foreclosures!
    Sponsored by: Network to Stop Foreclosures and Evictions
    2011 N. Charles St. Bsm.
    Baltimore, MD 21218
    For further information call: 410-218-4835


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.