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.
American workers are stuck in a prison, a prison that they’re kept in through the perpetual threat of homelessness. This isn’t truly a rhetorical point, it’s an empirically proven reality. Nearly two-thirds of the country’s workers are now living paycheck to paycheck, meaning this last year’s inflation has made them easier to coerce. That’s the directly stated goal of the capitalist ruling class at this stage. A Bank of America memo from last year said decreased worker living standards will represent greater leverage for employers. The consequences of this are the destruction of these people’s mental and physical wellbeing. They’re being strained, abused, and exploited while having to choose between this and living on the streets.
“All wars are fought twice, the first time on the battlefield, the second time in memory.” — Viet Thanh Nguyen
As mainstream U.S. media outlets pause to remember the U.S. invasion of Iraq, it’s clear that there’s a lot they hope we’ll forget – first and foremost, the media’s own active complicity in whipping up public support for the war.
1) Biden proposes a massive increase in military spending — above and beyond both what he proposed the year before and what the Congress increased that to. If you look at U.S. military spending according to SIPRI in constant 2021 dollars from 1949 to now (all the years they provide, with their calculation adjusting for inflation), Obama’s 2011 record will probably fall this year. If you look at actual numbers, not adjusting for inflation, Biden has set a new record each year.
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.
With the recent spate of vicious attacks on drag performers and drag shows, I’ve been thinking a lot about a brilliant quote by the late Ram Dass: “Treat everyone you meet as if they were God in drag.” And I think it gets to the heart of this manufactured controversy.
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.
Abby Martin speaks with journalist Vincent Bevins about the hidden CIA mass murder in Indonesia, which created the model for US extermination campaigns against communists in 22 countries during the Cold War.
March 3 — While the giant U.S. energy corporations and banks seek out every way to profit from the climate change emergency that they inflicted on the world, extreme weather events are becoming the new normal.
Ralph welcomes William Kleinknecht, author of States of Neglect: How Red-State Leaders Have Failed Their Citizens and Undermined America about how red state governors and legislatures fight culture wars while starving education and health care, empowering polluters, engaging in voter suppression, and neglecting their citizens’ well-being in the interest of cutting taxes for their wealthy donors.
The Communist Manifesto was a short but world-changing text that, despite being written in 1848, is a vital read for anyone who wants a better and more equal society. Brian Becker discusses the importance of the book, the historical context, and what it brought to the world.
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.