General Strike

Truckers, shut down/General Strike

I will not work for you, buy from you, fight for you, or die for you, until the criminals are gone from the halls of our government.

Events

 

Photos

Forum

Nelson Lee Walker

Always vote, but never reelect! 6 Replies

Started by Nelson Lee Walker. Last reply by Ricardito Neva Apr 9.

Ricardito Neva

Peaceful protest marches suck! 3 Replies

Started by Ricardito Neva. Last reply by Ricardito Neva Apr 2.

Blog Posts

Brush  Read

Kumbh Mela Haridwar - Sacred Hindu Festival

The Kumbh Mela is one of the most important festivals of the Hindus. It is one of the largest and the oldest religious gathering held by Hindus. This Mela takes place at 4 different places i.e. Allahabad, Nashik, Ujjain and Haridwar. People from all the nook and corner of the world gather here to take a holy dip in the divine water of the Ganga as it is believed that it removes the past sin and evil from the individual’s life. This is the reason why this world’s largest gathering takes places at… Continue

Posted by Brush Read on December 15, 2009 at 8:44am

lee w

Health Care Online

Some drivers have heard of Indianapolis heart bypass surgery and used their health savings account to pay for medical travel insurance since the company usually won't pay. Costs are getting higher and higher and nobody… Continue

Posted by lee w on November 19, 2009 at 2:16pm

chris rice

Congress set to act to keep abuse photos hidden



By MARK SHERMAN, Associated Press Writer Mark Sherman, Associated Press Writer
Sat Oct 10, 9:40 am ET

WASHINGTON – Congress is set to allow the Pentagon to keep new pictures of foreign detainees abused by their U.S. captors from the public, a move intended to end a legal fight over the photograph… Continue

Posted by chris rice on October 10, 2009 at 11:04am

Ab Irato

The Revolution is Not a Tea Party!

I like the idea of the masses nursing anarchists. Yummy!



“‘I want a clean cup,’ interrupted the Hatter: ‘let’s all move one place on.’ He moved on as he spoke, and the Dormouse followed him: the March Hare moved into the Dormouse’s place, and Alice rathe


Continue

Posted by Ab Irato on October 1, 2009 at 1:39am — 1 Comment

chris rice

FBI disclosure stokes fears



FBI disclosure stokes fears
By: Josh Gerstein
September 30, 2009 05:05 AM EST

The FBI’s release of portions of its internal manual for investigations is stoking fears among some civil liberties and Muslim organizations that the federal law enforcement agency is engaged in intrusive surveillance of political a… Continue

Posted by chris rice on October 1, 2009 at 12:48am

Why We Strike

By chris rice
"It was not by accident or coincidence that the rights to freedom in speech and press were coupled in a single guaranty with the rights of the people peaceably to assemble and to petition for redress of grievances. All these, though not identical, are inseparable. They are cognate rights, and therefore are united in the first Article’s assurance." -Judge Wiley B. Rutledge

"Government is instituted for the common good; for the protection, safety, prosperity, and happiness of the people; and not for profit, honor, or private interest of any one man, family, or class of men; therefore, the people alone have an incontestable, unalienable, and indefeasible right to institute government; and to reform, alter, or totally change the same, when their protection, safety, prosperity, and happiness require it."
-John Adams, Thoughts on Government, 1776



EXIT STRATEGY: General Strike USA


Corporate America's greatest historical victory was destroying the idea of Union. As well as, of course, destroying actual unions along the way, wherever possible, and with relish. Many individual unions are still around, obviously. Some are trying to make a comeback and regain relevance. But destroying the idea of the workers of the lower and middle class uniting was the real victory.

Because it largely destroyed the idea of Solidarity, as well. The idea of the non-ruling classes banding together to protest and work against the excesses of the ruling class. And the very real idea that we, if we choose to, can shut the whole thing down.

If someone were to suggest, for example, that we begin a general strike ... for the sole purpose of removing this regime from power, how readily and with what well-practiced assurance would you find yourself producing the words "It won't do any good"? Plausible and even courageous in the mouth of a patient who knows he's going to die, the sentiment fits equally well in the heart of a citizen-ry that believes it is already dead.

Individually we find that we are powerless against corporate media or Big Oil or Washington. Our choices are limited. Our effectiveness diminished. This is not by accident. Unions, social gatherings, clubs that all flourished before the 1960s have all been destroyed by those who find you and me to be a threat.

Without direct action, republican democracy is truly disempowering: our only means of influence are to beg the Very Serious And Important Intermediary - the congressman, the governor, the president, etc. - to do something on our behalf.

We all know how well that has worked out.

Today people will tell you that protest are ineffective. And they are. But real change does not come from the ballot box. Great social change like the eight hour work day, child labor laws, a woman's right to vote, civil rights, etc., etc. all came about through blood & sweat and great effort.

The Establishment wants us to focus all of our energy on elections because elections are the controlled space whereby popular ferment can be contained by rules, regulations, etc. But there are many different methods of direct action - ie. taking matters into our own hands - that can wield a tremendous amount of power.

The only effective action left to take now in order to stop the gears and levers of this lemming-like perpetual motion machine of destruction is---to do nothing. That's right, nothing. To go on strike.

It is one thing to endure abuses and to carry on in spite of them. It is quite another thing to carry on to the point of abetting the abuse. We need to move the discussion of our nation's health to the emergency room. We need to tell the doctors of the body politic that the treatment isn't working-and that until it changes radically for the better, neither are we.

How much better if we could say to our next administration: Don't talk about Bush. We dealt with Bush. We dealt with Bush and in so doing we demonstrated our ability to deal with you. You have a mandate more rigorous than looking good beside Bush. You need a program more ambitious than "uniting the country." We are united-at least we were, if only for a while, if only in our disgust.

And really, what have we got to lose? Especially relative to what could be gained from a new feeling of solidarity, from a new feeling of power, from a new feeling that WE matter.

Taking the day off, not buying anything. That part is easy. What's the hard part? Spreading the word, getting the message out, reminding The People that they have the power to shut it down.

Would the politicians in congress, and presidential hopefuls, do what people wanted them to do if they thought they were going to get absolutely zero votes this November if they didn't do what people wanted them to do?

They are politicians. What would they do?

I think they would do things faster than you ever thought possible.

Nothing else we have done in the past has had much or any result in accomplishing our goals-- not millions marching in the streets before the invasion of Iraq, not letters, phone calls, sit ins, petitions, town hall meetings, not electing a Democratic majoriy in 2006. "We the people" have not been, and are not being, heard.

Yet what you need is not marches, demonstrations, rallies or wide associations; all of them are important. What you need is direct action. The sooner people understand that, the sooner we'll begin to change things. --Arthur Scargill

General strikes shut down the normal operations of a city, state, or nation for a period of time. These strikes aim to force action on a single issue or broader set of concerns.

The reason for this shutdown is not to hurt this country in any way shape or form. But is in fact a peaceful method of sending a message to Washington, D.C.

The General Strike is a national call to action, from citizens to other citizens.

It is not about a single issue. It is not an anti-war protest, a gas price protest, a civil rights protest, an election fraud protest. It is not about torture, surveillance, corporate media, or the environment.

This strike is about all these issues and more.

The strike targets key issues facing the American public, issues that have not been addressed in any meaningful way by any branch of government.

Unions, corporations, & the major parties have failed to deal with pressing matters of war and peace, income inequality, crime and punishment and the meaning of citizenship itself, it has fallen to the American people to set things right!

Public protest is an important part of democracy, just like a free press, a judiciary, and congress. Our causes are many but it's time to make our voices as one.

1) Sign up with your email address HERE in order to get updates, e-alerts@votestrike.com


2) Send this URL to all your friends, post it to forums, put it on your personal pages, http://www.votestrike.com There will be ZERO mainstream media discussion of this General Strike BEFORE it happens. ZERO. So, we must BE OUR OWN MEDIA and promote it. Link to this site from sites and blogs. Mention it with links in your comments on blogs. PROMOTE IT.

3) Join the Consumer Fast already underway.


4) YOU will need to plan/set up and hold your own local protest details here: http://votestrike.com/shut_em_down/

I also encourage those of you who have signed up to vigorously promote your protest. To contact local activist groups, through www.meetup.com, www.tribe.net, Myspace, all social networks via the internet, your church groups, etc.

It is imperative for YOU to promote the General Strike for it to have any success. This should include, but not be limited to: writing/publishing articles, essays, poems, posting in forums, posting Youtube videos, commenting in blogs, starting your own blog, newspaper ads, online ads, local random phone calls, letters to editors, opeds, freeway banners, bumper stickers, car signs, yard signs, street signs, every online newspaper allows comments (NY Times, Washington Post, etc.), call in to talk radio shows, print & distribute flyers............

IF YOU FAIL AT PROMOTION BUSH & CO. WILL WALK AWAY.........SCOTT FREE, with congressional medals of honor & big fat speaking checks from Halliburton.,


5) YOU must organize enough people locally to shut down your town.

A web tool being used for practical organization is meetup.com. You can just type in your ZIP code, join a group with which you share ideas/feelings and which meets near your location, and start organizing. Use these key words to search for meetup groups near you. There's bound to be some! 9-11; peace; impeach Bush; civil rights; grassroots; stop PATRIOT Act; democracy for America; human rights; against Bush; election reform....GOOD LUCK!

FOR MORE INFO: http://votestrike.sosblog.com or
http://www.votestrike.com

Latest Activity

AnnE M. is now a member of General Strike
yesterday
Brush Read is now a member of General Strike
on Tuesday
allways did use $ .. allways will. :-)
December 11
chris rice added 4 videos
December 11
When you sign the petition, letters will automatically be sent to Obama and your Federal House and Senate "members."
December 11
I think this is awesome. If we would all refuse to vote, how could they get in? Either party is corrupted. They gave us 2 parties so we would think we were getting choices. LOL Passing this vid around now. Thanks
December 11
bcainw added a video
To sign the petition which will automatically send letters to President Obama and your House and Senate members (based on your zip code): http://www.change.org/actions/view/petition_for_the_immediate_re-legalization_of_marijuana To learn more abou…
December 11
December 5
 
 

Badge

Loading…

RSS

A Devil's Dictionary of Finance







 




Additional Capital: A financial lifesaver for banks and investment houses swamped by losses and the threat of bankruptcy. The additional capital raised to cover the emergency is obtained by printing and selling more stock, thus lessening the value of the stock already in existence.







Raising money under these circumstances is very expensive and sometimes involves a guarantee that the buyers of the new stock will receive some kind of dividend before anybody else gets paid--an additional sock in the nose to the current stockholders. The need to raise additional capital is not always due to the stupidity and incompetence of the people running the company. Sometimes it's for such profitable purposes as buying new machinery or expanding the factory (back in the days when we had factories).







Basil II: Not to be confused with a medieval king of Bulgaria or a Byzantine emperor. The Basil II accords are an international agreement on banking practices designed to prevent--guess what? A worldwide banking crisis. Heavy-money players such as the United States and the EU are signatories to the agreement, whose provisions nobody quite understands and which nobody has been able to put into effect, but which everybody agrees are necessary to maintain the present high level of world prosperity.







Blank Check Company: A company with a pot of money and no business. First, you start a company. Second, you flush a covey of slap-happy investors who have lost the sense they were born with. After you have their money, you go looking for some kind of business for the company to get into. Compare a blank-checker with the men and women who tart up, go to the ATM to withdraw money and then head to a pickup bar. By the end of the evening some of them are in business. Most are not.







Collateralized Debt Obligation (CDO): Take a bunch of commercial loans for which there is collateral of some kind or other, smoosh them together into one big loan or bond and voilà! You have a CDO. Whether you want the CDO depends on how good the underlying loans and collateral are. It appears that many of the investment bankers selling CDOs were too busy buying houses in the Hamptons to find out.

 





Counterparty: The name for the other guy or institution in a deal, otherwise known as he who is left holding the bag. If you lend me $10, we are each counterparties to the loan. A committee has been formed to find out why this word is needed.







Credit Default Swap: Warren Buffett is supposed to have called credit default swaps and their kinky kindred arrangements "financial weapons of mass destruction." (Also see Liquidity Put.)







A credit default swap works this way: Company A gets a loan, usually in the form of a bond, from Company B, but Company B worries that Company A may not pay the loan when it comes due. So Company B makes a deal with Company C. In return for regular payments, Company C will make good any loses suffered by Company B in case Company A welches on the deal.







So a credit default swap is a form of insurance... but if Company B has a mind to, it can buy a dozen or more credit swaps from Company C or some other entity. In the event that Company A fails to pay back the money, Company B stands to make a huge profit. Worse yet, Companies H and M, which had nothing to do with the deal, can nevertheless do a credit default swap based on whether or not Company A lives up to its promise to repay Company B.







Credit default swap mutations, immutations, transmutations, remutations and permutations are endless and perilous. At present an estimated $4.5 trillion in credit default swaps is swirling around in financial outer space. If they land in a black hole, the business world will end with a bang. Then comes the whimper.







Doges of Wall Street and Greenwich, Connecticut: These are the 5,000-6,000 people who sit atop the nation's major financial institutions, banks, hedge funds, etc. Although small in number, the few hundred operations they run garnered more than one-quarter of all the profits made by all other American companies last year. (So lush are the pickings that lesser workers in finance make half as much as people doing the same thing in other industries.)







If the Doges of Wall Street and Greenwich, Connecticut, are not the Masters of the Universe Tom Wolfe dubbed them at about the time they led the United States into the savings and loan debacle, they have at least had the power to free themselves of almost all regulatory restraint. In the process, they have caused two more financial crises, which have brought America to a precarious, trembling balance on the edge of catastrophe.







"The economy is fundamentally sound," or "The worst is behind us," or "We've hit the bottom, and it's uphill from now on": Head for the hills.







Fair Disclosure Rule: A government rule requiring a company to make information about its prospects available to the larger investing public and Wall Street stock analysts at the same time.







The rule is part of the never-ending effort to prevent people from cashing in on exclusive information. Since successful stock-picking is impossible without secret inside information, you may be sure the cheaters are finding new forms of unfair advantage even as you read this.







Form 4506T: The IRS form to be signed by home buyers giving mortgage lenders the authority to look at the buyers' income tax returns to verify their income and make sure they can afford the mortgage. Had form 4506T been used by lenders during the housing boom, there would have been a much smaller housing bubble and therefore a smaller crash. Law enforcement agencies are investigating why lenders did not ascertain the credit-worthiness of borrowers and whether the failure to do so constitutes fraud and/or actionable negligence.







Liquidity Put: This is a promise by a firm selling a CDO (for which see above) or MBO (see below) to repurchase an item in case the buyer cannot sell it to somebody else for the original purchase price.







Originally the idea for securitizing or bundling mortgage or other debt into bonds and then selling the bonds was that if enough were sold to a broad enough spectrum of people, the risk would be spread so far and so thin that a lot of people would get nicked for a little loss, but nobody would get seriously hurt, if home buyers welched on their payments.







With liquidity puts, the risk really is not spread around--it remains with the sellers. And now the investment banks that did the selling are on the hook for billions of bucks.







Why would they do something that looks, in the light of what has happened, so dumb even a Wall Streeter should have known better? The answer probably is that they were so greedy for sales they threw in the repurchase promise confident that they had all the angles figured so perfectly that they could not get burned.







Mortgage-Backed Security (MBO): Akin to CDOs are MBOs, many of which, of late, are emitting a decidedly unpleasant odor.







Ninja Loan: This has nothing to do with black-clad fighters of fourteenth-century Japan. They were sometimes rash but never as idiotically greedy as the modern mortgage brokers who made such loans, meaning mortgages given to people with no income, no job and no assets.







Punch Bowl: A metaphor for easy money and the inflation, speculation, unemployment and hard times easy money brings in its wake.


William McChesney Martin, the Eisenhower- and Kennedy-era chairman of the Federal Reserve Board, is remembered for saying that the Fed must "take away the punch bowl just as the party gets going." He meant sucking money out of the economy when too much of it is starting to blow bubbles, à la Alan Greenspan's technology bubble of 2000 and his real estate bubble of 2003-07, a bubble so large it defied the laws of physics.







During most of Martin's time the dollar was worth 100 cents and a prosperous and growing nation was spared the roller-coaster, boom-and-bust economics that have become the norm since he left office. In the end, Martin gave in to political pressure from the White House to pay for the Vietnam War; he left office in 1970 with inflation at a ruinous 6 percent and rising by the minute.







Recession: The word may have come into use around 1929 as a euphemism for the harsher "panic," the nineteenth-century term for when the arrows on the graphs start moving south. By the 1950s it was preferred to "depression," a word that came to be so terrifying it is now used only in connection with the 1930s. The term "crash" is never, ever used in decent business circles.







Since business depends on optimism and suspension of skepticism, expressions suggesting things may be somewhat sub-hunky-dory are of great concern. Hence such cutesy locutions as "the R word," or namby-pambyisms such as "slowdown," "downturn," "pullback," "slump" and "pause."







Risk Management: The conviction that young men and women with PhDs in mathematics can write formulas for such derivatives as SIVs (see below) so that they are financially fail-safe. It was believed until late 2007 that risk could be so well managed that it would be possible to lend billions of dollars to deadbeats, would-be bankrupts, near paupers, irresponsible speculators, doddering old people, uninformed immigrants, drunks and people seeking funds for a South American vacation and still make a profit.







Structured Investment Vehicle (SIV): SIV drivers have been known to vanish when hit by one of Wall Street's IEDs (improvised explosive devices). The vehicle is inherently risky.







A financial institution buys a bunch of bonds that pay a fixed rate of interest and may take twenty years to mature. ("Mature" is finance lingo for the date when the bonds pay back the principal.) The institution buying the bonds must borrow to pay for them, and if it is to make money on this deal, it must pay less interest than it is receiving from the bonds. It has to borrow short-term loans because they generally carry lower interest rates. Though the difference between what the bonds pay the institution and what the institution must pay on the short-term loans is only .25 percent, if the money involved is in the billions, an SIV can be very profitable.







It can also blow up in your face. If the interest rates on the short-term loans suddenly jump up or there are no short-term loans to be had, the SIV swerves off Prosperity Highway and smashes into a tree, which is what happened beginning in late 2007.







Toxic Waste: A piece of financial crap. This is Wall Street slang for a security so lousy that only an older person suffering from age-related macular degeneration with second-stage Alzheimer's on Social Security could be induced to buy it.







Variable Pricing: The irksome but indispensable practice of charging more when demand is highest and less when it is lowest. Electrical utilities have been using variable pricing in one form or another for 100 years. Airlines do it and operators of toll roads are beginning to do it. Your neighborhood tavern, with its happy-hour special, is practicing an inebriated form of variable pricing.







Variable pricing is a means to achieve what is called "load balancing," by charging more to discourage everybody from using a service at peak demand time. Hence airline tickets cost less for off-hours flights and more for the convenient morning and afternoon departures. If everybody flew at the same time, airports would have to be tripled in size, airlines would have to buy four times as many planes and the cost of tickets would leap commensurately.







People who find variable pricing discriminatory, unfair and/or biased racially, religiously or by social class or sexual orientation are advised to look into the purchase of private jets, a form of transportation the pricing for which is invariable and invariably high. (Also see Zone Pricing.)







VIX: It sounds like Vicks VapoRub, the gooey substance the great grandmothers of America used to rub on the chests of children with flu. Vicks may be more useful than VIX, which is the ticker symbol for Volatility Index, another Wall Street will o' the wisp. Thanks to mathematical abracadabra, VIX is believed to predict how fast and how violently the price of stocks will gyrate up and down in the coming thirty-day period.







The theory is, the greater the ups and downs, the more dangerous the market is for investor sheep. Those are the human ovines who have talked themselves into believing that they know how to buy a share of stock when it's cheap and sell it when it is expensive.



A small class of little-known investors exist who make money regardless of the direction the stock is heading in. You are not one of them.







Zone Pricing: Equality does not exist in business unless thrust on it from the outside. All customers are not equal, so do not appeal to the "rights of man" when you learn that a drug costs more in America than it does in Canada. Zone pricing means that things have different prices in different places. It is a geographical application of charging what the traffic will bear, depending on where the traffic is. (Also see Variable Pricing.)


 

© 2009   Created by chris rice on Ning.   Create a Ning Network!

Badges  |  Report an Issue  |  Privacy  |  Terms of Service