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Cyprus-style Bail-ins to Take Deposits and Pensions

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  • Perhaps it is time to pull our money out of Wall Street and set up our own banks – banks that will serve the people because they are owned by the people.
  • New G20 Rules

Ellen Brown, CounterPunch

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brownchart-379x600.jpgDecember 02, 2014 | On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong.

Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. Her latest book, The Public Bank Solution, explores successful public banking models historically and globally. 

Full story … 

 

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Special Project | The Big Box/Fast Food Business Problem: Week Ending January 10, 2015

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The High Cost of Low Prices

8 New items including:

  • Walmart Workers Promise Biggest Black Friday Strike Ever
  • The Big Box/Fast Food Business Problem: November 14, 2014
  • Amazon’s Wal-Mart problem: Why low wages, working conditions,  and disdain for culture will hurt us all
  • 4 ways Amazon’s ruthless practices are crushing local economies
  • Walmart Prices Would Rise By Pennies If It Paid Workers More Than Poverty Wages
  • Food Stamps Don't Keep Walmart's Prices Low; They Keep Its Profits High
  • Walmart Stumbles on SNAP; Warns of Lost Profits
  • Everyday Low Wages at Walmart: Brought to You by Government Policy

Compiled by David CulverEd., Evergreene Digest

Randall Enos

 

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The company has admitted that less than half of its workforce makes more than $25,000. But it could easily raise pay by ending stock buybacks or raising the cost of an item like a DVD by a penny.

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The Big Box/Fast Food Business Problem: November 14, 2014, Compiled by David Culver <evergreenedigest@earthlink.net>, Ed., Evergreene Digest 

  • The High Cost of Low Prices
  • Part 1: Two dozen arrests after workers protest against Walmart treatment
  • Part 2: Walmart workers begin first in-store sitdown strike in company history

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Amazon’s Wal-Mart problem: Why low wages, working conditions,  and disdain for culture will hurt us all, Richard (R.J.) Eskow, Salon

  • Amazon drives down wages, avoids taxes and destroys intellectual life, while profiting from government subsidies
  • 4 ways Amazon’s ruthless practices are crushing local economies
  • The Wal-Mart You Don't Know

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4 ways Amazon’s ruthless practices are crushing local economies, Jim Hightower, AlterNet

  • The price of Amazon's success is worker exploitation, the destruction of local enterprise, and the creation of a corporate oligarch.
  • The Morning Call’s Amazon Sweatshop Probe

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Walmart Prices Would Rise By Pennies If It Paid Workers More Than Poverty Wages, Bryce Covert, ThinkProgress

  • If Walmart paid its employees a living wage …
  • Food Stamps Don't Keep Walmart's Prices Low; They Keep Its Profits High

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Food Stamps Don't Keep Walmart's Prices Low; They Keep Its Profits High, Amy Traub, Huffington Post

  • The truth is that Walmart and all the other large and profitable retailersfast food companies, and other corporations that fatten their bottom line by letting the public feed their employees have made a business decision to shrink their payroll on the taxpayer's dime. It's up to us to decide whether to continue allowing them to do it.
  • Walmart Stumbles on SNAP; Warns of Lost Profits

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Walmart Stumbles on SNAP; Warns of Lost Profits, http://www.dailykos.com/user/kavips#http://www.dailykos.com/user/kavips#, Daily Kos

  • Retail Food is a huge engine of our economy. Putting water into the gasoline that feeds that sector, will have dire consequences,of which we are beginning to now see.  Wal*mart and other grocers need to get active on the Hill now, lobby against any SNAP cuts in the Farm Bill, threaten to withdraw funding for all rural conservative candidates,.. or face a rather dismal, ten year slump.....
  • Everyday Low Wages at Walmart: Brought to You by Government Policy

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Everyday Low Wages at Walmart: Brought to You by Government Policy, Dean Baker, Huffington Post

  • When Congress decides to give us a budget that unnecessarily raises the unemployment rate, it is also deciding to put downward pressure on the wages of low-paid workers. This is a policy decision to redistribute income upward, even if the people in Congress have no clue what they are doing.
  • The Wal-Mart You Don't Know
Section(s): 

Special Project | Money In Politics: Week Ending January 3, 2015

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  • "It has become clear that meaningful campaign finance reform is a necessary pre-condition for the Congress to be able to do the people's work in Washington." --Russ Feingold
  • 8 New items including:
    • Bought-and-Paid Congress Divides the Spoils
    • In Big-Money Move, Corporations Seek to Make Congress a Wholly-Owned Subsidiary
    • Top 20 ‘Dirty Denier$’ Who Accept Big Bucks from Big Polluters
    • Ready for a surprise? Money DOES equal access in Washington
    • ‘Oligarchic tendencies’: Study finds only the wealthy get represented in the Senate,
    • Government = Protection Racket for the 1 Percent
    • Who’s Buying our Midterm Elections?
    • First Citizens United. Now McCutcheon

Compiled by David Culver, Ed., Evergreene Digest

 

Joel Pett 

 

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Bought-and-Paid Congress Divides the Spoils, Bill Moyers and Michael Winship, Consortium News

  • Never has the Golden Rule of Politics glittered so bright: the corporate-person with the most gold rules. And the Republicans are now firmly in control of Congress after having their pockets filled more than the Democrats, as Bill Moyers and Michael Winship explain.
  • In Big-Money Move, Corporations Seek to Make Congress a Wholly-Owned Subsidiary

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In Big-Money Move, Corporations Seek to Make Congress a Wholly-Owned Subsidiary, Richard (RJ) Eskow, Huffington Post

For the American people, the moral of this story couldn't be clearer: If we don't get money out of politics, we'll lose our democracy altogether.

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Top 20 ‘Dirty Denier$’ Who Accept Big Bucks from Big Polluters, Anastasia Pantsios, EcoWatch

  • On the campaign trail, many candidates strive to be as innocuous as possible, evading questions or saying they haven’t made up their minds on an issue.
  • Memo to Self: Do Not Run for Office

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Ready for a surprise? Money DOES equal access in Washington, Matea Gold, Washington (DC) Post 

More than five times as many legislators or their chiefs of staff offered to set up meetings with active donors than with local constituents. 

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‘Oligarchic tendencies’: Study finds only the wealthy get represented in the Senate, Eric W. Dolan, Raw Story

Contrary to popular opinion, it was Democrats — not Republicans — who were more responsive to upper-class opinion in the 111th Congress.

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Government = Protection Racket for the 1 Percent, Bill Moyers and Michael Winship, Bill Moyers & Company

  • More than five times as many legislators or their chiefs of staff offered to set up meetings with active donors than with local constituents. Why is it not corruption when the selling of access to our public officials upends the very core of representative government? When money talks and you have none, how can you believe in democracy?
  • Who’s Buying our Midterm Elections?

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Who’s Buying our Midterm Elections? Bill Moyers, Moyers & Company

  • Two investigative journalists talk to Bill about the role of dark money — and the wealthy donors behind it — in this year’s midterm elections.
  • Bill Moyers Essay: The End Game for Democracy

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First Citizens United. Now McCutcheon, Credo Action

  • We think if the Supreme Court is going to consistently side with corporations and the wealthy at the expense of our democracy, they might as well give up their pretense to impartiality. So we’re going to send robes with the logos of the big corporations to the “justices” who voted for Citizens United and this new terrible decision.
  • Take%20Action%20button%20with%20arrows.jpgIf you want to add your name to the card we deliver along with the robes, use this form to add your name.
  • A new experiment shows how money buys access to Congress.

Bill Cosby’s gross corporate lesson: What NBC’s reaction reveals about rape & money

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Charges of serial predation didn't seem to bother the comedian's network -- until a whole new set of concerns arose.

Katie McDonough, Salon

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bill_cosby5.jpgBill Cosby

Wednesday, Nov 19, 2014 | Charges of serial predation didn't seem to bother the comedian's network -- until a whole new set of concerns arose about this media attention, but I’m going to guess here that NBC hasn’t learned much that it didn’t already know going into the project. What changed is how mad the public seemed about it.

The same could be said for how the NFL, and particularly its clown/villain hybrid of a commissioner Roger Goodell, has opted to handle the issue of domestic violence within its ranks. After a dizzying process of penalizing and not penalizing Minnesota Vikings running back Adrian Peterson, a man who stuffed leaves in his 4-year-old son's mouth while he beat him with a switch, Goodell suspended Peterson without pay for the remainder of the season.

Katie McDonough is an assistant editor for Salon, focusing on lifestyle.

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Activists shut down malls on Black Friday as Ferguson protests intensify

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  • This early afternoon action led to similar shut down demonstrations at the West County Mall in nearby Des Peres, Mo., and the Chesterfield mall. These protests coupled with demonstrations in Chicago, New York, Seattle, and Northern California, where protestors chained themselves to trains, were among the largest in the country this Black Friday.
  • The War on Thanksgiving, December 1, 2014
  • Lesson from the 2014 elections: Inclusive 50-state strategy needed

Riley Winters, People's World

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fergusondiein520x320.jpgPhoto: Jeff Roberson/AP

December 1 2014 | It is known as the busiest shopping day of the year, but this Nov. 28 Black Friday, was more than just long lines and last minute tiffs between shoppers eyeing the leftover merchandise.

Walking inside the Galleria Mall shoppers were greeted by the sound of Ferguson demonstrators who continue to protest and fight for justice in the case of Michael Brown; their commitment to continued demonstrations has recently intensified after the grand jury's announcement that Darren Wilson, the officer who shot and killed Brown, would not be indicted.

Riley Winters: Contributor, People's World

Full story … 

Related:

The War on Thanksgiving, December 1, 2014, Compiled by David Culver, Ed., Evergreene Digest

  • Thanksgiving is slowly becoming just another shopping day as many major retailers are planing to open then.
  • Big Retailers Make Low-Paid Workers Into Exploited Turkeys on Thanksgiving.
  • Part 1: Black Friday is a sad, apocalyptic wallet safari. You'll thank yourself for staying home
  • Part 2: Opening On Thanksgiving Backfires For Retail Stores

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Lesson from the 2014 elections: Inclusive 50-state strategy needed, .John Bachtell, People's World

For the multi-racial working class to play its historic role, it must be united, politically and ideologically mobilized. Influences of racism, patriarchy, prejudice and bias must be overcome. The broad people's movement led by labor must be built in all 50 states, including "red" states and districts, suburbs, exurbs and rural areas if democratic advances are to be won. There is no way around it.

 

The War on Thanksgiving, December 1, 2014

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Think Progress

 

  • Thanksgiving is slowly becoming just another shopping day as many major retailers are planing to open then.
  • Big Retailers Make Low-Paid Workers Into Exploited Turkeys on Thanksgiving.
  • Part 1: Black Friday is a sad, apocalyptic wallet safari. You'll thank yourself for staying home
  • Part 2: Opening On Thanksgiving Backfires For Retail Stores

 

Compiled by David Culver, Ed., Evergreene Digest

 

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Part 1: Black Friday is a sad, apocalyptic wallet safari. You'll thank yourself for staying home.

 

  • Take it from a recovering Pied Piper of sales: the problem isn’t that Black Friday exists so much as the perception that it’s somehow necessary.
  • Interactive: How Black Friday has crept into Thanksgiving
  • Black Friday, Cyber Monday Are you for shopping hell?

Jeb Lund, Guardian

ef2ed1d3-1b6d-46dd-a750-d2315f7339e5-1020x612.jpegBlack Friday is the opposite of drudgery, because everything is in such a constant state of FUBAR that nothing even matters. Illustration by Chris Padgett

Thursday 27 November 2014 | In the late 1990s, before Black Friday became the even more consumptive spectacle it is today, it was easy for me and my fellow teen retail drones to see what it was: a day of profound unhappiness for everyone other than us. For us, it was a day of transforming into individual Werner Herzogs as we watched phantom deals chased by an endless parade of people with sickness of the soul. For everyone else, it was and supposedly remains the Worst American Retail Day of the Year.

Working on Thanksgiving sucks, unless you’re young and really don’t give a damn and want the time-and-a-half wage. But working Black Friday was like working recess with no monitors and overtime pay: the rules didn’t matter, often at the customer’s expense.

Jeb Lund is a Guardian US columnist. He also contributes to Rolling Stone, Vice and elsewhere.

Full story … 



Part 2: Opening On Thanksgiving Backfires For Retail Stores

Retailers that open their doors on Thanksgiving Day in hopes of boosting holiday sales are shifting purchases away from Black Friday, rather than increasing the number of overall transactions.

Igor Volsky, ThinkProgress

Credit: APBlack-Friday-shopping-638x389.jpg

November 30, 2014 | Retailers that open their doors on Thanksgiving Day in hopes of boosting holiday sales are shifting purchases away from Black Friday, rather than increasing the number of overall transactions.

According to an initial reading of data from consumer analytics firm ShopperTrak, “combined sales on Thanksgiving and Black Friday fell 0.5 percent from the same period last year,” the New York Times notes.

Igor Volsky is the Managing Editor of ThinkProgress.org. Igor is co-author of Howard Dean’s Prescription for Real Healthcare Reform and has appeared on MSNBC, CNN, Fox Business, Fox News, and CNBC television, and has been a guest on many radio shows.

Full story … 

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Special Report | The War on Thanksgiving, November 26, 2014

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Think Progress

 

  • Thanksgiving is slowly becoming just another shopping day as many major retailers are planing to open then.
  • Big Retailers Make Low-Paid Workers Into Exploited Turkeys on Thanksgiving.

Compiled by David Culver, Ed., Evergreene Digest

 

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Part 1: Opening stores on Thanksgiving doesn't boost sales

Heather Long, CNN Money

November 26, 2014 | They justify opening on the famous American holiday because of competition. Others are doing it, so they have to as well or they'll lose out on sales.

"It's absolutely appropriate that we open at 6 p.m. [on Thursday]," WalMart's U.S. CEO said in defense of the practice that has been criticized widely.

Yet opening on Thanksgiving does little to boost sales, according to the data from recent years. Instead, it merely shifts some shopping that would have been done on Black Friday to Thursday.

Heather Long is an editor at CNNMoney. She was formerly assistant editor for Comment is free US and opinions editor of the Patriot-News.

Full story … 



Part 2: Here Are the Stores That Won't be Open Thanksgiving Day

Here are some of the national chains that are choosing to stay closed this Thanksgiving.

Susanna Kim, ABC News

Getty Images

November 25, 2014 | While some stores are beating each other to the punch to open their doors as early as possible on Thanksgiving, others are encouraging their workers to enjoy turkey at home.

Stores like Costco and Nordstrom are choosing to stay closed on Thanksgiving, while companies like Kmart will open at 6 a.m. that day.

Here are some of the national chains that are choosing to stay closed this Thanksgiving.

Full story … 

Related:

2014 Black Friday Walmart Protests, Black Friday Walmart Protests

  • Take%20Action%20button%20with%20arrows.jpgWalmart Workers Take Action: Black Friday 2014Call/Text: 470-223-2014 to see how you can get involved. Or email: support@changewalmart.org .
  • Walmart Workers Promise Biggest Black Friday Strike Ever

 

 

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