Spring, the season of renewal, is here. The ants are diligently building their little symmetrical ant hills. The robins are in their nests occupied with posterity. And the anointed members of Congress, after a long recess, aka vacation, return to work on April 17th. The next day, April 18th is the deadline for filing taxes.
“We have to come to terms with the fact that these transnational corporations globally and the empire for which the U.S is the capital of corporate Empire—they’re literally going to destroy the planet if we do not stop, interrupt, and transition. And to be clear, the window to do that is literally closing before our very eyes.” — David Cobb
Why net zero commitments are empty and dangerously misleading if we continue to burn fossil fuels. Talia Baroncelli speaks to retired physician and IPCC climate expert Peter Carter about how ongoing wars, illegal mineral wealth extraction in active conflict zones, and the plunder of resources by transnational corporations are literally killing the planet.
We are joined for the full hour by geopolitical financial expert and financial historian, Nomi Prins, to discuss her new book, Permanent Distortion: How Financial Markets Abandoned the Real Economy Forever, which highlights the huge gap between the high-flying stock market, versus back down here on earth, where average people struggle to make ends meet.
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.
Western capitalism and its supposed democracy are in terminal crisis as increasing numbers of people reject the system’s abysmal economic failure: record levels of poverty, inequality and relentless militarism and warmongering.
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.