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Tag Archives: credit crunch
In the early hours of yesterday morning, 25th March 2009, the house and car of notorious thief Fred Goodwin received a dose of proletarian justice. Windows at his luxury home in The grange, Edinburgh, were smashed as was his car. A statement issued by “Bank Bosses Are Criminals” read as follows:
We are angry that rich people, like him, are paying themselves a huge amount of money, and living in luxury, while ordinary people are made unemployed, destitute and homeless.
This is a crime. Bank bosses should be jailed.
This is just the beginning
We can say without a shadow of a doubt that we support the actions taken in smashing the property of this thieving parasite.
Whilst we, the working people of the world, will pay for the greed and decadance of the banking system the parasites responsible for the mess will continue to live in oppulence and splendour. As we struggle to keep up our mortgage repayments, our rent and to pay off any credit we may have these scum bags live the life of riley at your expense.
They only sleep safe in their beds at night because we allow them too.
We need to purge these parasites from our society, they contribute nothing and live off our hard work. Why should we have to work whilst these people play games with our future? With the future of our children and our communities?
The only rational response is to bring this insane system to an end and reorganise our society to keep power out of the hands of parasitic scum like Fred Goodwin.
We need to bring about Anarchist-Communism now more then ever.
A video to tug at your heart strings. Feel compassion fatigue melt away as if in a soothing bubble bath of pity. You can make a difference in these uncertain times.
Bleed the World
Collecting some more resources to try and understand the banking crisis. The previously mentioned audio talk has been turned into this video:
This new website, Bail us out, has been set up to argue that the billions used to bail out the banks would be better used paying off consumer debt. They’re looking for people to submit stories about why they should have their debt dropped first.
For anarchist views on economics generally, there’s the Anarchist FAQ. Section C, “What are the myths of capitalist economics?” would be a good place to start.
If you have links to any more useful resources / analyses, please let us know through the comments.
They tell us: it’s homeowners, its governments for not regulating us enough, its the central banks, its voters, its the Chinese, its workers for being paid less and “diluting the capital ratio”. It’s everyone’s greed, not theirs.
They’re like alcoholics unable to take responsibility for the damage done by their binging. At one point the truth came out: “it’s a systemic problem”.
It’s not a conspiracy of individual bankers, there’s a system set up to reward short-term irresponsible behaviour, making private profit from risk borne by you and me.
It’s fun to watch bankers with hangovers (“It is terrible. Death. It’s like a massive earthquake,”) and if there’s any sympathy in relation to Lehman Brothers’ collapse then it should go to their lower-paid temps and cleaners that might not be getting their last paycheque. The thing is, all these crises end up being inflicted hardest on the people with the least, while the rich can cushion themselves from the ill-effects: Merrill Lynch’s boss was among the 10 highest paid last year, despite presiding over a bank that needed to be bailed out.
So what do we do to end this crap?
I’d be looking at credit unions, for one thing. Take the toys from the boys. City types “looking after” our money doesn’t work, they can’t be trusted because the system is rotten. But beyond “dropping out” of the banking system, we need to find ways of getting what we need without making others lose out.
Working together, not against one another. That’s what’s we mean when we talk about abolishing capitalism as a set of “social relations”. If there’s anything that watching the flights in the financial markets shows, it’s that the whole edifice relies on belief in its permanence, and that confidence can disappear easily.
It won’t disappear on its own, but we are not powerless.