Search Results for 'The American economy is imploding'

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    • Total Posts: 5,572

    NERMEEN SHAIKH: Dr. Cornel West, could you respond to what professor Yamahtta Taylor said? You agree that, of course, the murder of George Floyd was a lynching. You’ve also said that his murder and the demonstrations that have followed show that America is a failed social experiment. So could you respond to that and also the way that the state and police forces have responded to the protests, following George Floyd’s killing, with the National Guard called out in so many cities and states across the country?

    CORNEL WEST: Well, there’s no doubt that this is America’s moment of reckoning. But we want to make the connection between the local and the global, because, you see, when you sow the seeds of greed — domestically, inequality; globally, imperial tentacles, 800 military units abroad, violence and AFRICOM in Africa, supporting various regimes, dictatorial ones in Asia and so forth — there is a connection between the seeds that you sow of violence externally and internally. Same is true in terms of the seed of hatred, of white supremacy, hating Black people, anti-Blackness hatred having its own dynamic within the context of a predatory capitalist civilization obsessed with money, money, money, domination of workers, marginalization of those who don’t fit — gay brothers, lesbian sisters, trans and so forth. So, it’s precisely this convergence that my dear sister Professor Taylor is talking about of the ways in which the American Empire, imploding, its foundations being shaken, with uprisings from below.

    The catalyst was certainly Brother George Floyd’s public lynching, but the failures of the predatory capitalist economy to provide the satisfaction of the basic needs of food and healthcare and quality education, jobs with a decent wage, at the same time the collapse of your political class, the collapse of your professional class. Their legitimacy has been radically called into question, and that’s multiracial. It’s the neofascist dimension in Trump. It’s the neoliberal dimension in Biden and Obama and the Clintons and so forth. And it includes much of the media. It includes many of the professors in universities. The young people are saying, “You all have been hypocritical. You haven’t been concerned about our suffering, our misery. And we no longer believe in your legitimacy.” And it spills over into violent explosion.

    And it’s here. I won’t go on, but, I mean, it’s here, where I think Ella Baker and Fannie Lou Hamer and Rabbi Heschel and Edward Said, and especially Brother Martin and Malcolm, their legacies, I think, become more central, because they provide the kind of truth telling. They provide the connection between justice and compassion in their example, in their organizing. And that’s what is needed right now. Rebellion is not the same thing in any way as revolution. And what we need is a nonviolent revolutionary project of full-scale democratic sharing — power, wealth, resources, respect, organizing — and a fundamental transformation of this American Empire.

    Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • Total Posts: 1,578

    So true @coldmountaintrail

    After reading this.

    I’m not sure we have time but we have to try.


    Jimmy Dore and Dylan Ratigan discuss the article that I’ve posted.

    Coronavirus — or more accurately — the lack of response to it will probably finish off what’s left of the American economy. America will end up a country with permanently lower levels of all the following: employment, income, savings, trust, happiness, assets, and so forth. America was already in the process of becoming something very much like a poor country, with the failed politics of one, too — but Coronavirus will accelerate and finalize America’s grim transformation into poverty, paralysis, and collapse.

    I know that sounds improbable, maybe even absurd, to some. I don’t much like writing in such terms myself. So let me spell out just how and why.

    These shocking, unreal unemployment numbers are like the shockwave of a great tsunami, or the tremors that signal an earthquake spiking off the Richter scale. They’re a beginning, something like a plume of smoke to be followed by a deafening explosion.

    Why? The logic of depression is simple — Keynes discovered it a century ago. It involves two things: money, and confidence. An economy undergoes a shock — a stock market crash, a natural calamity, or, in this case, a pandemic. I lose my job. I stop spending. So do my neighbours. Our local businesses — who usually exist on the margin, with little in reserve — begin to go shutter their doors, as a small but crucial number of customers stays away. That causes yet another wave of unemployment, which causes yet another wave of bankruptcy, and so on. Until, at last, the vicious spiral has engulfed the whole economy.

    By that point, five transformations have happened — that usually spell ruin for a generation or more.

    The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.....Martin Luther King '63

    • Total Posts: 5,572

    Something dire, strange, and singular has happened in America. Sure, GDP’s grown. The stock market’s skyrocketed. Profits have never been higher. But American life? That’s a very different story. American life fell apart. Today, 80% of Americans live paycheck to paycheck, suicide is soaring, depression and anxiety are endemic, the middle class has imploded, and so on.

    (In other words, “the economy” has “decoupled” from “welfare”?—?in plain English, capitalism’s booming, but your life isn’t, it’s imploding, if you’re the average American. Don’t get defensive. I’m not accusing you. I empathize with you. How is the average person to feel anything but dread and anxiety, thinking about how to pay for college…healthcare…retirement…childcare…a home? Bang! Social implosion. I call all that “predatory growth”?—?a society eating itself.)

    But American collapse, and the predatory growth that led to it, didn’t happen in a vacuum. A meteor didn’t strike America. American collapse is absolutely, one hundred percent, self-inflicted. And yet American collapse didn’t begin with the imbecile in the White House, either. It began long ago?—?we don’t have to go into its roots, I’ve written about that plenty. What I do want you to notice though, is this.

    It was Obama who presided over the crumbling of the middle class. Depression and anxiety rose steadily during his Presidency. Incomes flatlined, and savings shrank. Steady, decent jobs continued to disappear, and be replaced by dead-end low-wage “service jobs”, aka people essentially being glorified servants to the super rich. Life expectancy began to fall during the end of the Obama years. In fact, every major indicator of social progress?—?longevity, happiness, trust you can think of fell during the Obama years.

    Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

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