Today is the anniversary of the 19th amendment which gave women the right to vote in the United States in 1920. While revolutionary socialist feminists see the suffrage movement as a "reform" within the capitalist structure, even we can't help feeling the surge of sisterhood as we hit the streets today to celebrate this essential "reform." The continued and growing gender gap in voting shows that women realize and continue to use this reform to our political advantage.
Yes, another crash is coming. I can't predict precisely when as that would be a fool's errand, but much closer than you think. It will probably be after our President is reelected and will care very little what you or I think once he and his treasury push for criminal TBTF banks to bailed out once again. Doctor Doom: the nickname for economist Nouriel Roubini: one of the relatively few outside the mainstream(part of the Got It Right (pdf) project) who predicted the last crash thinks 2013 is a perfect storm for another one which will be even worse and it makes sense.
Despite on theoretical fiscal policy limits with regard to the US, Roubini is absolutely right on the political deadlock with the coming crisis. We wasted our last crisis and that's something Conservatives have not done whether we're talking about the stagflation crisis of the 70s or 9/11. There won't be as many political options this time to prop up the underlying economy in 2013 because Democrats have failed to change the Senate rules because most of them secretly like the way things work or don't work in Washington. Sadly, if Republicans take over both houses again, they will change the Senate rules as they threatening to do in 2005 and 2006.
Anyway some might still want to scoff at Roubini's prediction, but that will come back to bite them in the ass. Not even Roubini can predict the exact moment it will happen, but if one knows anything about the history of financial crashes, since the 80s when the 1933 banking reforms passed by FDR started slowly being dismantled, they started happening once again in a 5-7 year time-frame(and even closer than that if you count global stock crashes which count now more than ever since our markets turned dark with OTC derivatives and Information Asymmetry all around); some worse than others as the 2008 bust was on par with 1929 but you get the idea.
I have always thought it was a delicate proposition to be critical of how people choose to spend their money. I think that the person who actually works for their money should be completely free to spend it however they choose. However, when one spends their money they are providing direct support to a company. This essay is not about being smug or feeling superior. The point that I am trying to make is that money has power. When we spend our money we help someone else financially. The recent remarks made by Chik Fil A demonstrate this point.
In last week's Anti-Capitalist Meet-Up, northsylvania described a wonderful example of non-alienated labor among a community in Britain whose citizens join together freely into neighborhood clubs to create extensive Guy Fawkes Day celebrations, expending hundreds of hours throughout the year in building parade carts for the festival to raise money fo
The biggest U.S. banks created more than 10,000 subsidiaries in the past 22 years as they expanded, using legal structures to pay lower taxes and escape tighter regulation, according to a Federal Reserve study.
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Critics including Thomas Hoenig, a Federal Deposit Insurance Corp. board member, say the biggest firms are too complicated to manage. The 2010 Dodd-Frank Act asked the FDIC and Fed to make sure the largest banks, if they get into trouble, can be wound down without collapsing the rest of the financial system. U.S. Senator Sherrod Brown has proposed legislation to force their breakup.
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The 1999 repeal of the Depression-era Glass-Steagall Act was the main catalyst for the biggest banks getting bigger, the Fed study concluded. The assets of the largest lenders have since tripled to $15 trillion. Hoenig has called for reinstating Glass-Steagall, which separated investment and commercial banking, while Brown’s proposal would limit asset size.
French lawmakers Thursday backed a series of measures abolishing tax breaks and taxing the wealthy as the new Socialist government pursued efforts to kickstart the economy with a tax-and-spend programme.
Lawmakers later voted to back an emergency rise in the ISF wealth tax applying to taxpayers with a net worth of more than 1.3 million euros ($1.6 million) and which is expected to bring in an extra 2.3 billion euros in revenues this year.
How dare they actually side with the people! Heh the government made promises and this is how you back those promises
As you all know it's election season, and for that reason I am advised by some Democrats to shut up about the dire issues of the day that all of Washington D.C are failing all of us on. They say to wait until they don't have to care about us or these issues. By that time they will be on their way to "sequestering" and slashing Social Security and Medicare in their sellout grand bargains. They say unless good words are heard our President can't spread his wings and fly like a bird on to victory in 2012.
Capital One Financial agreed to pay $210 million to resolve charges by U.S. banking regulators that its call-center representatives misled consumers into paying for extra credit card products.
The regulators alleged that employees at call centers used by Capital One pressured and misled consumers into paying for "add-on products" such as payment protection and credit monitoring when they activated their credit cards.
In a statement, the president of Capital One's credit card business, Ryan Schneider, apologized to customers who were affected and said the bank is committed to "making it right."
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