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International | U.S. | Global Justice and Anti-Capitalism | Labor & Workers

Clunker Capitalism's "green shoots" wilting in May
by DLi
Friday Jun 1st, 2012 10:58 PM
The US jobs report for May just came in, and it showed the Clunker Capitalist economy created only 69,000 new jobs last month(in addition, the Labor Dept. revised the March and April new job numbers downward, meaning less jobs were actually created than were reported previously). Considering that even corporate apologists have been saying that a minimum of 200,000 new jobs need to be created every month, if the much-touted economic "recovery" is actually happening. Evidently, the derivative-driven and debt-infested Wall Street Private Capitalist economy is headed straight back to its own self-created Financial Black Hole, characterized by Billions of Profits for the 1% and imposed drastic 'Austerity' for the other 99%! So much for the "green shoots" of a resurgent bourgeois economic system!
But instead of facing this greatest financial Meltdown in human history head on with analytical clarity and progressively-inspired leadership, the Obama-Romney electoral dog-and-pony show still hides the fact that their mutual goal is to implement the Wall Street-designed Campaign in Saving Private Capital. Not a single word has been uttered by either of the 2 corporate-bought parties about the massive financial frauds that brought the entire world to its knees since 2008; the so-called Euro Crisis is just another by-product of the same Wall Street-created derivative Ponzi scheme(and therefore the urgent need to put thousands of these monetary terrorists--euphemistically called "corporate CEOs"--in jail!). Furthermore, they completely ignore the progressive and appropriate proposal to break up these "too big to fail" monster banks like Goldman Sachs, Bank of America, JP MOrgan Chase and Citicorp, which have been sucking up trillions of taxpayers bailouts and Fed-created "phantom wealth" 0% interest loans. The practical and progressive agenda would be to turn those trillions into low-interest financing for worker co-ops, community-controlled enterprises, local farmer-community coalitions, municipal-owned public utilities, regional credit unions that truly serve their clientele, and other manufacturing jobs that actually make socially-necessary products and services that benefit the majority.

Instead, the 2-headed monster that is the Obama-Romney "unitary Executive" ticket will continue the murderous Imperial wars abroad(despite 66% of citizens who want to pull out US occupation troops from the AfPak hellhole ASAP) while imposing a police-state type of domestic repression(like unleashing 50,000 armed police and state troopers last month for the NATO summit in Chicago, against peaceful protestors of the 'North Atlantic Warmongers' Coalition'!), all in order to accelerate the Wall Street reign of Privatizing Profits for the 1% while Bilking the Costs onto the 99%). This is the Lose/Lose Faustian "bargain" that will be marketed this November onto the American voters. The real challenge will be, what alternatives will progressive citizens develop and implement to reject and replace the corporate-bin-Laden "Presdiential Election" Scam?