Socialism, Land and Banking: 2017 Compared to 1917 by Michael Hudson

Communist Revolution Islands Brygge, Copenhagen (1998)

Image by Hunter Desportes via Flickr

by Michael Hudson
Writer, Dandelion Salad
Michael Hudson
October 23, 2017

An article written for the hundredth anniversary of the Russian Revolution, to be read in Beijing today.

Socialism a century ago seemed to be the wave of the future. There were various schools of socialism, but the common ideal was to guarantee support for basic needs, and for state ownership to free society from landlords, predatory banking and monopolies. In the West these hopes are now much further away than they seemed in 1917. Land and natural resources, basic infrastructure monopolies, health care and pensions have been increasingly privatized and financialized.

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There Really Is No Alternative – To The Truth by William Bowles

RIP Grenfell Tower

Image by duncan c via Flickr

by William Bowles
Writer, Dandelion Salad
Investigating Imperialism
London, England
July 23, 2017

But then I think, no! This can’t be so, how can life be so cruel?

But then I think, we have so little power but so much comprehension, so maybe that’s it;

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Disastrous Capitalism – But is a Labour Government the Solution? by William Bowles

JPS_2650a-sm

Image by Julian Stallabrass via Flickr

by William Bowles
Writer, Dandelion Salad
Investigating Imperialism
London, England
July 16, 2017

Class War

Consider the Grenfell Tower inferno as an expression of a new kind of class war, but not a class war as we have known it–between organised workers, political parties and capital–but between ordinary citizens and the local fiefdoms of the capitalist state as increasingly, big business has taken over the running of what’s left of our public and collective life, through ‘outsourcing’, public-private-partnerships and what have you, where making a profit is the bottom line, not serving the public.[1]

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Grenfell Tower: A Disaster Waiting to Happen by Graham Peebles

Grenfell Tower after Fire

Image by Frank John via Flickr

by Graham Peebles
Writer, Dandelion Salad
London, England
June 23, 2017

Charred, lifeless and brutal, the hollowed out remains of Grenfell Tower in west London screams of the human agony inflicted when, on 14th June, the building became an inferno.

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Grenfell Tower: This Is What Austerity Looks Like by William Bowles

Grenfell Tower after Fire

Image by Frank John via Flickr

by William Bowles
Writer, Dandelion Salad
Investigating Imperialism
London, England
June 17, 2017

‘The Prime Minister, Theresa May, had to [flee] the site of Grenfell Tower yesterday under police guard, BBC News, 17 June 2017

The Abandonment of a Community

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Michael Hudson: Another US Housing Bubble?

Slaves to Money, Solidarity (9 of 25)

Image by Glenn Halog via Flickr

with Michael Hudson
Writer, Dandelion Salad
Michael Hudson
May 24, 2017

TheRealNews on May 23, 2017

Economist Michael Hudson explains that even though housing prices are back up at 2008 levels homeownership is at a much lower level and banks have their loans guaranteed by the US government.

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Abby Martin: Inside the Hotbeds of Israeli Settler Terror, Part 2

Untitled

Screenshot by Lion Multimedia Production U.S.A. via Flickr

Warning

This video may contain images depicting the reality and horror of war/violence and should only be viewed by a mature audience.

Updated: video replaced Dec. 15, 2016

Dandelion Salad

with Abby Martin

teleSUR English on Dec 15, 2016

Abby Martin goes on-the-ground to the epicenters of state-backed settler terrorism in Palestine’s West Bank, in Part II of her report on illegal Israeli settlements and home demolitions.

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Michael Hudson: Taxes Were Shifted Off the Rich and Onto Homeowners (Part 3)

PSU May Day March 2

Image by badlyricpolice via Flickr

with Michael Hudson
Writer, Dandelion Salad
Michael Hudson
November 21, 2016

TheRealNews on Nov 21, 2016

Economist Michael Hudson, author of J is For Junk Economics, explains how the rising prices of homes came at a great cost to the middle and working classes.

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Abby Martin: The Demolition of Palestinian Homes for Israeli Settlements Reached a 10-year High in 2016

Untitled

Screenshot by Lion Multimedia Production U.S.A. via Flickr

Dandelion Salad

with Abby Martin

teleSUR English on Oct 31, 2016

The demolition of Palestinian homes for Israeli settlements reached a ten-year high in 2016. While this activity led by the fanatical settler movement is illegal under international law, it is completely aided and abetted by the Israeli government.

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The Stone that Brings Down Goliath? Richmond and Eminent Domain by Ellen Brown

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
March 3, 2014

In a nearly $13 billion settlement with the US Justice Department in November 2013, JPMorganChase admitted that it, along with every other large US bank, had engaged in mortgage fraud as a routine business practice, sowing the seeds of the mortgage meltdown. JPMorgan and other megabanks have now been caught in over a dozen major frauds, including LIBOR-rigging and bid-rigging; yet no prominent banker has gone to jail. Meanwhile, nearly a quarter of all mortgages nationally remain underwater (meaning the balance owed exceeds the current value of the home), sapping homeowners’ budgets, the housing market and the economy. Since the banks, the courts and the federal government have failed to give adequate relief to homeowners, some cities are taking matters into their own hands.

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Michael Hudson: Trade Advantage Replaced by Rent Extraction

Capitalism Isn't Working

Image by AndyRobertsPhotos via Flickr

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
December 17, 2013

I was interviewed on the Renegade Economists radio/ podcast entitled Crony Competition on the road to Unearned Income: Prof Michael Hudson gives a wrap on the economics of 2013 as we discuss Detroit, Iceland, Madoff, Marx and Blackstone Capital.

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Superstorm Sandy — One Year Later + A Co-op Story: People’s Construction in Rockaway

Dandelion Salad

Occupy Sandy

Image by notanalternative via Flickr

democracynow on Oct 29, 2013

democracynow.org – Today marks the first anniversary of Superstorm Sandy hitting the New York region, becoming one of the most destructive storms in the nation’s history. On October 29, 2012, the hurricane blasted New York City with a record storm surge as high as 13 feet, as well as the Jersey Shore and New England, ultimately killing 159 people along the East Coast and damaging more than 650,000 homes. The storm caused $70 billion in damage across eight states. Millions were left without power in the New York region, some for weeks. We are joined by two women who have played key roles in the region’s recovery: Terri Bennett, a founder of Respond and Rebuild, one of the first groups to help low-income residents of the Rockaways rebuild after Superstorm Sandy, and also focused on providing free mold remediation that eventually inspired the city’s similar program; and Jessica Roff, a founder of Restore the Rock, a nonprofit created by Sandy volunteers who met while working out of a space in the Rockaways called YANA, or You Are Never Alone, where they operated a free health clinic, legal clinic and trained and dispatched hundreds of volunteers.

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Obama’s Master Class in Demagogy 101 by Michael Hudson

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
July 25, 2013

Day 7 Occupy Wall Street September 23 2011 Shankbone 2

Image by david_shankbone via Flickr

Yesterday President Obama chose Knox College in Galesburg, Illinois (originally founded by anti-slavery activists in the 1830s) to float the economic program he has been working out with Wall Street investment bankers. His aim is to wrap this program in a democratic rhetoric. The speech’s actual content boils down to: “I’m doing fine and housing prices are recovering. The way to heal the economy faster is to make a Public-Private Partnership (with Wall Street) to finance new infrastructure investment. The government will guarantee a return – and if there’s any loss, we (you taxpayers) will bear it.” His political genius was not to sugar-coat the shady parts of his proposals.

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China – Avoid the West’s Debt Overhead: A Land Tax is Needed to Hold Down Housing Prices by Michael Hudson

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
July 22, 2013

How can China avoid the “Western financial disease” – a real estate bubble followed by defaults and foreclosures? The U.S. and European economies originally sought to avoid this fate by taxing the location’s site value. A rent tax was the focus of Progressive Era reforms.

Enacting a rent tax remains China’s main challenge to accompany its privatization of real estate and natural resources. If land rent were fully taxed, it would not be paid to banks as interest for rising mortgage loans – and governments would not have to tax income and sales. Holding down housing debt will reduce labor’s cost of living, but not its living standards.

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The Insider’s Economic Dictionary – Part A by Michael Hudson

letter A

Image by Leo Reynolds via Flickr

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
July 18, 2013

Part A in the .

The Antidote to Euphemism

The fallacies that lurk in words are the quicksands of theory; and as the conduct of nations is built on theory, the correction of word-fallacies is the never-ending labor of Science. … the party in this country, one of whose great aims was, at one time, the perpetuation of slavery, owed much of its popular vote to the name Democracy.
– S. Dana Horton, Silver and Gold (1895)

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