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MIKALONEIL.COM/BLOG

#OWS Ignites the World

Another fantastic photo collection via The Atlantic

Occupy Wall St: Chris Hedges Interview Transcript

via greekcabanaboy on youtube.

Filmed on Sunday, September 25, at the

Occupy Wall Street Protest.

Amazing interview with author Chris Hedges discussing global, historical, political, economic, and moral aspects of the reasons for the protest and the larger movements to which it is related.

Read a full transcript of the interview below.

Interviewers: OK World! This is an extreme pleasure.

Chris Hedges: Do you want to ask me questions or do you want me to just say something?

I: Introduce yourself, and tell people who you are.

Chris Hedges: I’m Chris Hedges, and I’m a writer. I just got back from Immokalee Florida where the Coalition of Immokalee Workers (CIW) is about to begin a huge campaign against supermarkets like Trader Joe’s, Stop & Shop, Giant. Which is extremely important. Because if it succeeds, it will probably double the wages, which run between about $8,000 & $10,000 for agricultural workers in the tomato fields, who live in horrific conditions at best. And at worst, conditions that resemble slavery. But I’ve been following what’s been happening here (Wall Street Occupation) and this is really where the hope of America lies.
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Noam Chomsky: American Decline: Causes & Consequences

The eminent American philosopher John Dewey once described politics as “the shadow cast on society by big business,” warning that “attenuation of the shadow will not change the substance.” Since the 1970s, the shadow has become a dark cloud enveloping society and the political system. Corporate power, by now largely financial capital, has reached the point that both political organizations, which now barely resemble traditional parties, are far to the right of the population on the major issues under debate.

via Chomsky.info

David Graeber: The History of Debt

David Graeber, author of Debt: The First 5,000 Years

“One must go into debt to achieve a life that goes in any way beyond sheer survival.”

via PBS

We apologize for the Flash technology

Capitalism: Destroying Itself

From the man who correctly predicted the debt crisis of 2008, Nouriel Roubini (@Nouriel), Professer of Economics at Stern School NYU, some chilling words about functional deficiencies in our captilast system. What makes sense on an individual level for firms and households is detrimental, nay potentially catastrophic, on a systemic level:

Karl Marx had it right. At some point Capitalism may destroy itself. You cannot keep on shifting income from labor to Capital without having an excess capacity and a lack of aggregate demand. That’s what has happened. We thought that markets worked; they’re not working. The individual can be rational. The firm, to survive and thrive, can push labor costs more and more down, but labor costs are someone else’s income and consumption. That’s why it’s a self-destructive process.”

via Wall Street Journal Online

It’s the Oligarchy, Stupid!

Al Jazeera segment examining inequality in America.

via Max Keiser

Who will stand up for the corporations?

Here’s some damning evidence of our nation’s emerging status as a corrupt third-world oligarchy:Chart of Corporate and Wage/Salary recovery after last 5 major recessions

Notice the unequal recovery in national income share of corporations vs. wage/salary earners. Also notice how the ratio has changed from a fairly equal recovery in the 70’s and 80’s versus the 21st century recessions. Obviously, corporations are doing very poorly and we need tax cuts and less regulation to help them be more competitive. And let’s not forget to cut benefits and safety nets for those rapacious wage slaves!

via Northeastern University study: “The ‘Jobless and Wageless Recovery’ from the Great Recession of 2007-2009”