For three days, 30,000 education workers struck the Los Angeles Unified School District (LAUSD), the second-largest in the nation. Bus drivers, special education assistants, custodians, food service workers, and gardeners stayed off the job, joined in solidarity by the 35,000 members of the United Teachers of Los Angeles (UTLA). By Friday, March 24, the workers’ union, Service Employees International Union (SEIU) Local 99, had attained a tentative agreement with the district, securing 30 percent wage or more increases for the lowest paid workers.
Ralph welcomes economist, attorney, and investigative journalist, James Henry for his expert take on what is going on in the banking system and what we can do to keep it from blowing up. And Professor and former Nader’s Raider, Alison Dundes Renteln, takes on the commercialization of our universities in her book The Ethical University: Transforming Higher Education.
Overview: This was an impromptu conversation precipitated by former Congressman Dennis Kucinich to have a deep dive discussion with a former economic advisor, Michael Hudson, on the shockingly large recent bank collapses. As the former chair of the powerful Government Oversight Subcommittee, Kucinich had a ringside seat in unraveling the bank collapses after the housing bubble burst. He confronted the players in the field with withering questions in Congressional hearings. Now Kucinich wanted important feedback from a banking insider on how this crisis was different than the one in 2008.
Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance Corporation (FDIC), in return, to avoid a bank panic and a run on other midsized banks went over its $250,000 insurance cap per account and guaranteed all deposits – no matter how large, which are owned by the rich and corporations – in those banks.
“I’m mad as hell and I’m not going to take it anymore.”
So screamed the character Howard Beale in the 1976 movie “Network,” a prescient commentary on the corporate capture and slow suffocation of America. Howard was a prime-time news anchor who’d had enough.
After over a decade on Seattle City Council, socialist Kshama Sawant is launching a national coalition called Workers Strike Back to fight for wages, universal healthcare, LGBTQ rights, a clean energy transition, and more.
When we conceptualize the power that maintains capitalism, violence and ideology readily come to mind. Despite the vast inequality, grotesque exploitation, contempt for life and the environment, chronic instability and the rebellions that repeatedly arise and sometimes take power, capitalism seems firmer in the saddle than ever, spreading its suffocating tentacles to virtually every place on Earth.
Economists Radhika Desai and Michael Hudson explain the end of the British empire’s sterling area with the rise of the US dollar system, its central role in imperialism, and why it ultimately failed to accomplish Washington’s hegemonic goals.
The victims of the devastating 7.8-magnitude earthquake in Turkey and Syria need your help now. The surviving families and children and those rescued alive from the rubble are in serious danger in affected wintertime impoverished regions. Refugees in other places fleeing their war-torn homelands are also suffering. International aid agencies are grossly insufficient for these immediate humanitarian necessities.
The word “inequality” is everywhere in the media. It usually refers either to race, gender, rich vs. poor, or other differences between human beings. Absent from the public debate is the biggest perpetrator of “inequality” against human beings – the corporate entity itself.
Economists Michael Hudson and Radhika Desai join Danny Haiphong to break down the economics of the Ukraine proxy war between NATO and Russia as the one-year anniversary of the military operation approaches.