All posts tagged: Wall Street

The Real Left, Phony Left and What’s Left

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Philip Farruggio Cutting to the chase, if you consider yourself to be ‘On the Left’ then you have to be a Socialist. Period! Now, there are many different levels under the banner of Socialism. Some may be Marxist, Trotskyite, Syndicalism etc. Yet, the unifying denominator is that all believe in the common ownership of the means of production and services. Many socialists do honor the existence of Mom and Pop private ownership of small business. Under a truly socialist system banking, energy, health & dental care, housing and all necessary services would be owned and operated by the community, whether it be local, state or federal. Imagine if you would if we had real community owned and run mortgage banks, where the only interest charges would be for overhead. Translated: Even in these so-called ‘low rates’ times, where a mortgage rate is around 4 or 5%, with non-profit community banks the rate would be perhaps 1%. Plus, the mortgage paper would remain with that bank. Today’s renters would be tomorrow’s owners of their own abode. …

The Rise of the Police State and the Absence of Mass Opposition

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by James Petras and Robin Eastman Abaya, 2012 Introduction: One of the most significant political developments in recent US history has been the virtually unchallenged rise of the police state.  Despite the vast expansion of the police powers of the Executive Branch of government, the extraordinary growth of an entire panoply of repressive agencies, with hundreds of thousands of personnel, and enormous public and secret budgets and the vast scope of police state surveillance, including the acknowledged monitoring of over 40 million US citizens and residents, no mass pro-democracy movement has emerged to confront the powers and prerogatives or even protest the investigations of the police state. In the early fifties, when the McCarthyite purges were accompanied by restrictions on free speech, compulsory loyalty oaths and congressional ‘witch hunt’ investigations of public officials, cultural figures , intellectuals, academics and trade unionists, such police state measures provoked widespread public debate and protests and even institutional resistance.  By the end of the 1950’s mass demonstrations were held at the sites of the public hearings of the House …