[Marxism] Senate to Middle Class: Drop Dead ...a message from Michael Moore

Walter Lippmann walterlx at earthlink.net
Sat Dec 13 01:54:36 MST 2008


Mumia astutely complements the points Micheal Moore
was making about congressional responsibility. Thus,
Mumia is the best activist writer whose works fits
into the Marxist tradition writing these days here
in the United States of America. He simply and very
clearly lays out the broad parameters of what's now
in progress in ways ordinary people can understand.

His simple notion is that if half of the money given
away to Wall Street would have been instead given
to ordinary people, and had they spent it, a solid
kick-start would have been given to the economy o
the United States. This approach helps clarify to
the reader that responsibility for the crisis ought
to be assigned to the rich and powerful, not to the
working class in the automobile industry.


Walter Lippmann
Los Angeles, California
====================================================

'Penny Wise -- Pound Foolish'
[col. writ. 12/6/08] (c) '08 Mumia Abu-Jamal

Hundreds of billions of dollars have been poured into financial
houses, banks and insurance companies , and the needle on the
nation's economy has barely budged from "E".

Now the nation's big three auto companies are at the table in
Congress, asking for their share. Not surprisingly, the banks have
(despite political claims at the time) tightened, not loosened,
credit, a fact that contributes to the once Big Three coming to
Congress, for banks have declined to loan money to them!

The auto companies have echoed the banks' arguments, that they too
are 'too big to fall', but they are finding a quite different
audience than did the financial bigwigs.

That's because they occupy vastly different niches in the nation's
political economy, as this new era reflects the transition from
manufacturing to financial services as engines of capital production.

While the punditocracy has attacked the automakers for their workers'
pay rates, few have been critical of the fees paid to those at the
mid-ranks of the financial services industry, only the executives at
the top.

That's in part because the political class identifies with, and
serves, the financial services sector -- and quite a few come from
that world (think of former senator -- and now New Jersey's Governor,
John Corzine, for example). That's also because financial services
have contributed generally to politicians (Think Enron and the
presidential and gubernatorial career of George W. Bush, for example).

And while unions certainly contribute to political campaigns, few
have come from the shop floor to the halls of Congress.

That explains the disparity of treatment for the two sectors.

The engines of America's economy aren't Detroit nor Wall Street; they
are everyday people, who fuel the economy by their shipping, their
use of services, and their wealth of daily business transactions.

Detroit is in trouble today, not because they pay their workers too
well, but because their place in the domestic market is slipping
annually. Until more people willingly purchase their products, their
condition can only worsen.

Before the massive, whirlwind bailouts, the Bush administration tried
a modest stimulus package for some Americans, to little effect. That
stimulus was too modest, and too limited.

What if 1/2 the money spent on Wall St. went to average Americans?

If they'd spent it, it would've recharged the economy; it they had
put it in banks, it would've strengthened bank holdings, making a
freeze unlikely.

But the money went to Wall Street, where it sits, as frozen as a
Christmas turkey.

The economy moves as a foundation of millions of people; when they
can no longer participate it has nowhere to go, but down.

--(c) '08 maj


=========================================
     WALTER LIPPMANN
     Los Angeles, California
     Editor-in-Chief, CubaNews
     http://groups.yahoo.com/group/CubaNews/
     "Cuba - Un Paraíso bajo el bloqueo"
=========================================




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