Retrieved by Pat Darnell | Jan 28, 2012 | Bryan TX
MooPig "Brain Industries Department" suggests spending an hour and a half to watch this one... it will help shake out cobwebs that are hurting your brain, concerning our current economic collapse. "To roll back our current Raw Deal we need to congregate and demand another New Deal." What shape that new deal forms is up to the people. Well, it is Democracy in the workplace; what a new, peculiar, concept!
Wages in the USA do not rise starting in 1978. Thirty years of no wage increase causes Middle Class borrowing binge. The system collapses in 2007. George "W" Bush's government throws trillions of dollars at the lenders, with no deliberations. Obama continues throwing money down the pit, as "incentives to private sectors to create jobs here." The fear of the lender, mostly banks, is not whether the politicians will pay them back -- "lenders own the politicians" -- but rather the fear that the people will not permit the government to pay back its debt.
That is the lender-borrower relationship that made the USA economy collapse in 2008, thirty years after wages were frozen. The gambit failed, what do we do now?
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PUBLISHED ON JANUARY 27, 2012Professor Richard Wolff details the problems of capitalism and urges our recognizing its obsolescence and replacing it with institutions that truly serve the people.
Talk at Church of All Souls in New York City, January 24, 2012. Camera, audio: Joe Friendly
by Richard Wolff.
"W" Bush and Obama have proposed "incentives for the private sectors so that they will provide jobs." But that fails. Professor Wolff says the status quo is "absurd." He says American can do better than Capitalism.Using parallels comparing now with Roosevelt's days, the professor tells us that "there is money now" ... don't listen to surly mouthed politicians who declare today there is "no money." There is enough money now to pay for the Middle-class to get back a foot hold. The corporations have to pay the bulk of the money needed. The politician has to mediate between the Middle Class and the employer-lenders. The people must act. [pd]
___________________Reference
http://rdwolff.com/content/costs-capitalisms-crisis-who-will-pay
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