bank bail out

Open Thread - Crises of Capitalism

A talk from RSA Animate that is definitely outside of the realm of typical discussion you will hear anywhere in the USA since it the words and thoughts of David Harvey, a real Marxist.

In this RSA Animate, radical social theorist David Harvey asks if it is time to look beyond capitalism towards a new social order that would allow us to live within a system that really could be responsible, just, and humane?

Note that the real Marxist agrees with Glenn Beck saying that he "has a certain truth", as in a certain amount (or grain) of truth Harvey attributes to framed discussions coming from every political ideology on this issue.

Hope it made ya think. And think again...  And this thread is open!

The Money Party at Work

Originally posted Sun, 03/01/2009 - 10:01 - bumping to promote - standingup

Enough of Everything But Dollars.

The government bailout of failed financial instituions locks you into years of debt payments in behalf of the large private banks, debts that you did not create.

By all appearances, it also locks the country into years of a weak economy. That means unemployment, underemployment, and more suffering for those willing to work, but left out of the job market. It means lowered opportunities for those who do work and troubles for dependants and indigents. Vital national priorities including affordable health care and the massive effort required to save everyone form calamitous environmental catastrophes are now on hold or under funded.

Inflation from the Source. Fed to put $500 billion into banks and buy more toxic financial waste

Bernanke is going to start buying mortgage-backed securities, perhaps including some in default, from banks holding them. The Fed announced the creation of a $200 billion facility to do this today, along with a $100 billion swap facility with the European Central Bank, British central bank and Swiss National Bank. Last week the Fed announced it was doubling the size of its existing facility to $200 billion. Net $500 billion is going into the banks. The stock market was up more than 400 points as a result.