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Socialism for Some

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One billionaire investor, Jim Rogers, was quoted thus: "America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich -- it's just bailing out financial institutions. this is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I'm not quite sure why I or anybody else should be paying for them."*


SOCIALISM, for SOME
[col. writ. 10/22/08]  (c) '08 Mumia Abu-Jamal
 
 
    Stimulus package. Bailouts. Banking rescues.
 
    It has been generations since we've witnessed scenes such as these.
 
    Government officials spin like jacks, as they proclaim a policy one day, only to renounce it the next. The Dow Jones Industrial Average rushes up and spirals downward in a matter of minutes, visual, measurable reminders of the volatility in the markets.
 
    Money is dumped into failing financial houses, failing banks, and private companies, in an attempt to 'prime the pump', we are told.
 
    Companies that have been icons for over a century, fade away like dew in the morning sun.
 
    And this ain't just national; it's global.
 
    A year ago, British banking giant, Northern Rock, fell into a crisis.  For months the government sought to persuade private investors to take a bite; but there were no takers.  In February, the institution was nationalized, and the government pumped in  £87 billion to keep it afloat.  The bank was salvaged, but thousands of its employees were fired.
 
    The Northern Rock debacle, coupled with the $700 billion bailout has set off alarm bells among the investor class.  One billionaire investor, Jim Rogers, was quoted thus: "America is more communist than China is right now.  You can see that this is welfare of the rich, it is socialism for the rich -- it's just bailing out financial institutions.   this is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents.  I'm not quite sure why I or anybody else should be paying for them."*
 
    What makes it even more surreal is how politicians hurl charges at other politicians of "socialist!"  Ignored is the socialism accorded to the wealthy bankers and houses of high finance.
 
    Of course, this isn't anything like real socialism at all.
 
    For the working class, the working poor, and millions in the middle, this economic crisis is a terrifying portent of things to come.  They know that hard times will only get harder.
 
    They wish they had some of the 'socialism' that has been lavished on the rich.
 
--(c) '08 maj
 
[*Palmer, Steve, "Capitalist Crisis -USA: Goodbye Wall Street,"  Fight Racism!  Fight Imperialism!  (Oct. - Nov. 2008/London), p.3 ]

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Noam Chomsky interview

This interview about the economy is also relevant and interesting:


Re Mumia, Chomsky said, speaking at U-Penn in 2002:

http://hbjournalist.googlepages.com/noam

Hans: Looking at the counterinsurgency war here at home, you’ve written about the FBI’s repression of the Black Panther Party & personally attending the funeral of the assassinated BPP leader Fred Hampton. Being here today in Philadelphia, could you please say something about anti-corporate journalist and political prisoner Mumia Abu-Jamal?

Noam: You know all about Mumia Abu-Jamal so I don’t really have to say anything about it in that regard, and my opinion is probably the same as yours. We have to keep in mind that it’s one case that is symbolic of something much broader. Around the world, the US is almost alone in applying the death penalty. I don’t even want to mention the other countries that we are in league with in this regard. That’s one of the reasons that Europe will not extradite people to the US. The U.S. prison system is simply class and race war. Class and race correlate in the US so much that it is hard to distinguish them. The whole incarceration movement is a neo-liberal program to get rid of “unnecessary” people. Take a look at the way the prison population has gone up since 1980. Before it was approximately the same as the rest of the industrialized world. Now it’s five to ten times as high. During the Clinton years it went up about 50%.

Mumia Abu-Jamal and other prisoners are the kind of people that get assassinated by what’s called “social cleansing” in US client states like Colombia. They’re put away. A very substantial part of the poor population (which happens to be largely Black and Latino) are just stuck away. Add that to unemployment figures and the famous unemployment rate of the United States would disappear pretty fast. These are policies of class and race war. The Mumia’s case is just one illustration of that. Its an important case, but is also a much more general phenomenon.

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