If the workers of the world want to win, all they have to do is recognize their own solidarity. The

Showing posts with label Poverty. Show all posts
Showing posts with label Poverty. Show all posts

Friday, January 1, 2021

Escalating Plunder ~~ Robert Brenner

 https://newleftreview.org/issues/ii123/articles/robert-brenner-escalating-plunder

~~ posted for dmorista ~~

On 23 march 2020, the Federal Reserve made the historic announcement that, in response to the coronavirus economic crisis, it would provide loans to non-financial corporations in industry and services for the first time since the early 1930s.footnote1 A few days previously, former Fed Chairs Ben Bernanke and Janet Yellen had given their imprimatur to this precedent-shattering step.footnote2 Just how huge a cornucopia for big business the authorities had in mind would soon become clear. The Federal Reserve had, for the better part of a century, confined its lending to the us government, purchasing Treasuries and bonds issued by the Government Sponsored Entities (gses)—Fannie Mae, Freddie Mac, Ginnie Mae. The Central Bank had traditionally resisted extending its loan purchases beyond these instruments, not least because buying the debt of specific companies would leave it open to charges of favouritism. At the time of the 2007–08 global financial crisis, however—with the justification that the meltdown threatened the financial sector’s very functioning—then Fed Chair Bernanke consigned such niceties to the dustbin of history, showing in the process why those norms had been established in the first place.footnote3

Wednesday, December 9, 2020

Tens of millions of Americans struggle to pay rent as unemployment benefits and eviction moratorium near expiration ~~ Alex Findijs

https://www.wsws.org/en/articles/2020/12/04/pers-d04.html

~~ snip ~~

The September 11 terror attacks, which killed 2,977 people, were used to launch wars costing some $6 trillion and to implement sweeping attacks on democratic rights, all on the basis of a supposed national emergency. Now that the equivalent of a 9/11 is happening every day, death on such a massive scale is effectively treated by the US political establishment as inevitable. And amidst the greatest social crisis since the Great Depression, there is supposedly nothing that can be done to alleviate mass impoverishment.

Thursday, November 19, 2020

Nearly 1,000 Homeless People Died in LA in 2020 as 93,000 Homes Sit Vacant ~~ Alex Ferrer, Terra Graziani and Jacob Woocher

https://portside.org/2020-11-02/nearly-1000-homeless-people-died-la-2020-93000-homes-sit-vacant

We must see real estate market for what it truly is: an institution rooted in settler colonialism that allows land (and the housing that sits atop it) to be distributed and controlled by those who have enough money for their preferences to matter.