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Retribution Against the Financial Elite

Articles tagged capitalism


Capitalism Causes Earthquakes

Posted 9 months ago on July 12, 2013, 12:03 p.m. EST by OccupyWallSt
Tags: fracking, capitalism, earthquakes

One of the biggest firms responsible for the practice of fracking has admitted that their actions caused seismic activity in England.

Fracking involves cracking or fracturing rock, containing trapped shale gas, by using pressurized liquid. Shale gas is an increasingly important energy resource though there have been claims that it is worse for the environment than coal, largely due to the fracking process.

Analysis showed that shortly after hydraulic fracturing began small earthquakes started occurring, and more than 50 were identified, of which 43 were large enough to be located. Most of these earthquakes occurred within a 24 hour period after hydraulic fracturing operations had ceased. There have been previous cases where seismologists have suggested a link between hydraulic fracturing and earthquakes, but data was limited, so drawing a definitive conclusion was not possible for these cases.

Drilling either for fossil fuels or renewable energy exploration may cause earthquakes. Both geophysicists and oilmen agree that natural-gas drilling trigger earthquakes. One oilman stated that "there is not the slightest doubt" that gas production caused the temblors."

A New York Times report confirmed drilling for oil sets off earthquakes and detailed how a drilling project near San Francisco and a similar project in Basel, Switzerland were shut down over concerns they triggered damaging earthquakes. Both diggings involved fracturing hard rock more than two miles deep.

Large earthquakes tend to originate at great depths, breaking rock that far down carries more serious risk. Seismologists have long known that human activities can trigger quakes, but they say the science is not developed enough to say for certain what will or will not set off major tremors.

The time for denial is over. So, how are we going to stop them?

Get organized.

167 Comments

The World Beyond Capitalism -- a poem

Posted 10 months ago on June 8, 2013, 12:24 p.m. EST by OccupyWallSt
Tags: capitalism, communism

A playful place, a place of fun, a dancing world of bright colors, a world in which we bubble and overflow into one another and beyond.

A world without hard lines - a world in which identities exist only to be transcended. A world in which the basis of human existence is not identity, but the mutual recognition of our dignities.

Not 'I am', 'you are' — but I-you-we do-create-become. A different form of organization, a different form of coming together. The mutual recognition of humans, and also, in a different way, the mutual recognition of human and non-human forms of life.

Nonsense, of course, were it not for the fact that it already exists – as potential, as rebellion, as the force of the 'not yet' in the present.

To find the world that could exist after capitalism, we must look to the anti-worlds already being created in countless struggles against capitalism – countless cracks in the texture of capitalist domination.

A world beyond capitalism can only be a distillation of the dreams dreamt against oppressions – A redemption of the longings of all who have struggled for a better world.

Look then, to the experimental anti-worlds being created in the struggles against capitalism, to the assemblies that characterized the Occupy movement, and its rejection of representative "democracy".

To the protests against guns and violence and war, to the movements not just against male domination, but for the overcoming of all classifications of people by sex and sexuality.

To the millions who fight against the destruction of the Earth by developing a different conviviality with non-human forms of life.

To the constant push for living in a time liberated from the clock, in the space freed from the measuring rant. To the constant drive inseparable from our humanity to determine our own doing.

In the cracks, in the refusals and creations in the anti-worlds of daily struggles. That is where the urgently necessary world beyond capitalism is to be found.

22 Comments

Wall Street Doesn't Just Run the Show, They Write the Law

Posted 10 months ago on May 24, 2013, 2:41 p.m. EST by OccupyWallSt
Tags: capitalism, wall street, citigroup

In the most damning piece of recent evidence that Occupy Wall Street was right that it's Wall Street who runs things, not the government, the NYTimes today reports that Citigroup lobbyists wrote several bills that recently passed the House Financial Services Committee:

Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it themselves.

One bill that sailed through the House Financial Services Committee this month — over the objections of the Treasury Department — was essentially Citigroup’s, according to e-mails reviewed by The New York Times. The bill would exempt broad swathes of trades from new regulation.

In a sign of Wall Street’s resurgent influence in Washington, Citigroup’s recommendations were reflected in more than 70 lines of the House committee’s 85-line bill. Two crucial paragraphs, prepared by Citigroup in conjunction with other Wall Street banks, were copied nearly word for word. (Lawmakers changed two words to make them plural.)" As we previously reported, on May 7th, nine deregulatory bills sailed through the House Financial Services Committee. We wrote about one of them, HR 992, and this particular bill garnered only SIX "nay" votes, out of SIXTY-ONE total representatives on the Committee.

This egregious bill, which is named "Swaps Regulatory Improvement Act", but it should be called, "If Banks Get Bailed Out, We'll Get Sold Out. Again," was written in large part by Citigroup. As the NTYimes reports:

"Citigroup and other major banks used a similar approach on another derivatives bill. Under Dodd-Frank, banks must push some derivatives trading into separate units that are not backed by the government’s insurance fund. The goal was to isolate this risky trading.

The provision exempted many derivatives from the requirement, but some Republicans proposed striking the so-called push out provision altogether. After objections were raised about the Republican plan, Citigroup lobbyists sent around the bank’s own compromise proposal that simply exempted a wider array of derivatives. That recommendation, put forth in late 2011, was largely part of the bill approved by the House committee on May 7 and is now pending before both the Senate and the House."

Citigroup was responsible for the death of Glass-Steagall, which led to the free-wheeling and casino-lifestyle that caused the 2008 Financial crisis. Citigroup mismanaged their firm and loaded up to the hilt with toxic mortgage products, requiring a massive taxpayer bailout. And if that weren't enough, they also received a total of $99.5 Billion in secret loans from the Federal Reserve after the crisis to avert their own ruin. And now, they're writing our laws to tear down even the paltry protections put in place post-crisis.

America: Brought to you by Citigroup

34 Comments

Capitalism IS the Problem

Posted 11 months ago on May 21, 2013, 1:29 p.m. EST by OccupyWallSt
Tags: exploitation, capitalism, worker coops

First of all: there seems to be some kind of misconception among some people, of what capitalism actually is. There are some who believe that where there is a market economy, money and competition, then that’s automatically capitalism. That’s not true. In capitalism there is of course a market economy, but that can exist in other systems as well.

What characterizes capitalism is that there is private ownership of the means of production. That’s when you know you’re dealing with a capitalist system. If this feature is absent, if it’s not the case that some individuals privately own the means of production others are using, then it’s no longer capitalism. If it instead was a system in which, let’s say, the workers themselves controlled and managed the means of production democratically at the place where they worked, and that these institutions were operating in a market system, then that would be some kind of market socialism etc, not capitalism.

And it is this private ownership of the means of production that’s a huge part of the problem. Capitalism is tyrannical, exploitative and dehumanizing; it’s intolerable

A system that allows a few individuals to have undemocratic control and power, not only at the workplace, but in society in general, is unacceptable; a system that allows some individuals to exploit and profit on other people’s misery is unacceptable; a system that allows more and more cash to be shuffled into the pockets of the owners and the wealthy, is unacceptable.

Capitalism IS the problem.

644 Comments

Direct Action Idea #2: Laughing at the 1%

Posted 11 months ago on May 13, 2013, 6 a.m. EST by OccupyWallSt
Tags: philanthropy, capitalism, carlos slim, direct action

When people from two different countries hate you, that means you are a public enemy. Last week, the richest man in the entire world, Carlos Slim, attempted to use a philanthropic gift to cover up the fact that his monopolistic practices have impoverished all of Latin America, with headway being made to raid the coffers of the United States with over $451.7 million taken in from subsides from the government of the United States every year.

The 1% control access to and the rules around supporting badly needed social services, from education to healthcare. We live in an unsustainable system in which the very richest in society dictate with their dollars the world that they want to see, not live in, and certainly not engage with on a day to day basis.

We laugh at this preposterous system in which we live, and we will continue to bring you inspiration about how it can change.

8 Comments

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