Nurses Hold Actions Across Country Demanding Wall Street Transaction Tax

I find it intriguing that the fact that nurses have staged protests against Wall Street has gotten pretty much no coverage in the mainstream media. I checked nurses + protest on Google News, and the only note take of their September 1 protest was a story in the Boston Herald and MarketWatch (but the latter merely published their press releases).

Nurses have the potential to become an effective and visible source of pressure, since they are disciplined, organized, and have a good public image and are a large group. But they need more turnout and more media interest in order to reverse the perception that nothing can be done about the banksters.

This report on The Real News Network provides a good overview of their position:

More at The Real News

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  1. Middle Seaman

    The bitter and prolonged fight of workers against the Koch brothers occupied Wisconsin has never shown up on national media either. The Democratic party itself, both in Wisconsin and nationally, also tried hard to mute the noises of the fight. Our asshat president never said a word to support the public workers.

    It’s a new day in occupied America governed by the occupiers and enriching the occupiers.

  2. Boyd S

    union nurses..I am sure the topic of a wall street transaction tax comes up daily while preforming the medical duties. Just another union shakedown.

    1. lambert strether

      If it doesn’t, it ought to. After all, nurses are there to save lives and give comfort, and Wall Street is murdering a great many people and causing many, many more to suffer.

      Now go back to your Mom’s basement and try some more day trading, wanker.

    2. alex

      “Just another union shakedown.”

      It’s worse than that – an _ineffective_ union shakedown. What these nurses really need to do is take shakedown lessons from Wall Street.

    3. sgt_doom

      While I greatly agree with the sentiment of the nurse unions and associations, and share their views, given the history and background of the financial transaction tax in America, past and present, it may well prove to be the final battle.

      The financial transaction tax was originally adopted in 1914, and continued until 1966, temporarily raised by FDR during WWII, and President Kennedy mentioned raising it again prior to his assassination. It was later discontinued during the following Johnson Administration.

      As the young academic, David Graeber, mentioned in his book, Debt: The First 5,000 Years, 95% of capital flows is speculative in nature. Also, as we have learned from a recent Commodity Futures Trading Commission study, 95% of ALL commodity futures trades are pure speculation. (This destroys the massive lie from the derivatives and futures industry that it is all about hedging and spreading financial risk, etc.)

      Now, the bankers, hedge funds and their insurance companies make the majority of their money from speculation. A financial transaction tax would inhibit this speculation greatly.

      Also, it would allow “phantom short sales” (used tremendously in both speculation and financial manipulation) to be easily tracked, another detrimental force to the corrupt money-making processes of the bankers and hedge fundsters.

      What few people understand and appreciate are the three unlimited numbers which — by design — have allowed for rampant and rapacious speculation and financial manipulation: (1) unlimited number of credit default swaps can be sold against a financial entity (naked swaps); (2) an unlimited number of commodity future contracts can be sold against a specific commodity or entity; and, (3) an unlimited number of investors can be involved in a single hedge fund.

      These three unlimited number categories have been brought into existence to allow for the colossal ultra-leveraged speculation we observe today, although few realize that is what is behind the constant global markets roil which destroys the economies of both individuals, companies and countries today.

      Leveraged buyout “pump and dumps” by private equity firms, enabled by structured finance “leveraged loans” from the top banksters, allow for the destruction of an endless amount of companies, and jobs, which they have greatly profited from.

      Then, after they have saddled an extraordinary number of companies, both in North America and throughout the world, with colossal debt, they conspire with cronies to load up on a tremendous amount of credit default swaps against those companies (their bonds, etc.), and are rewarded by those companies’ demise (bankruptcy equals credit event which in turn equals gargantuan payouts on those credit default swaps — with all that debt falling onto the public arena).

      Thus we see how those debt-financed billionaires came into being, and why there is so much economic turmoil and debt surrounding us all today.

        1. ambrit

          Dear Sto;
          So, if Romney ends up the Republican nominee, look to spot me in some of his campaign crowds waving a plackard reading: ROMNEY FOR SATRAP!

  3. LeeAnne

    This is surprising to see; I fully support it. Let TPTB be aware of whom they depend upon. Nursing has been on the front lines of the pressurized work place longer than any group I can remember. It’s also a good thing that they recognize their own power. Its a wake up call that the push back will be coming from unexpected places.

    Just imagine health care without nurses.

    I made this suggestion early on in the crisis that every financial trade be taxed -to pay back what’s owed to the people. It would also put a damper on the penny ante swipe from the public scheme deceptively-labelled high frequency trading; so named by for innovative criminal purposes.

    I have the feeling we are a conquered people. That Americans have been conquered by bankers since they wrecked the legal system in the 1980s resulting in outlandish ruinous leveraging, and accelerated since 9/11 on the order of ‘if they’ll believe this they’ll believe anything’ in addition to the made-for-TV shock itself, and are being ruled by a rogue group (check out Cheney and his claims of being exempt while in office and his demand to escort the president free of the need for truth telling as a condition of the president answering a demand to appear for 9/11 questioning). From this prospective steps being taken in monetary, financial, homelaanda security and foreign affairs, are better understood.

    The last straw is the groping announcement at sports stadiums by the NFL. If these people, ticket purchasing sports fans who are a fair representation of the functioning middle and upper income group, do not openly rebel against this, it will be evidence that there is no significant resistance.

      1. LeeAnne

        Lambert, I’d like to see that. One of our commentators showed us how to block pop-ups. Its working so well for me (now I really owe NC a contribution) that I knew I would miss something worthwhile.

    1. sgt_doom

      “… and accelerated since 9/11 …”

      Oh, sure, LeeAnne, next you’ll be suggesting that there’s some kind of connection between the press briefing given by the Pentagon’s comptroller on 9/10/01, stating that there’s $2.3 trillion unaccounted for, and the very next stay the Defense Intelligence Agency’s financial management group is almost completely wiped out????

      Oh, sure, like there could possibly be some connection.

      (End of sarcasm</strong) Remarks appreciated, my sister.

  4. Norman

    Until the the revolution takes place, there will be no action. The powers to be have done a good job of dividing the country, with the ones who have employment being pitted against the ones who aren’t. Unfortunately, using 20th century tactics today in the 21st century without modifications, only dooms any uprising. 9/11 proved that fear can & does cower a nation, from the top down. Until a “John Conner’s” emerges, the country will continue to degrade.

    1. LeeAnne

      I agree with you. The functioning middle and upper middle income group are as dependent on welfare as any ‘welfare queen’ ever was. More so. They’re dependent on manipulated markets that cannot go on forever. They voted Republican last election for their investments -blinded to the precariousness of their own welfare. Not that the alternative was any better. Its the righteousness ad enthusiasm with which they debated for Republicans that’s daunting.

  5. ohreallyow

    Let me correct that for yoou

    “Communist Front Groups Manipulate a Hapless and Gullible Group of ‘Nurses’ to Further Marxist Agenda”.

    It is a hackneyed, childish work of direct political action propaganda straight out of the playbooks of the 1930’s COMINTERN. It is obviously coordinated by front groups as part if the Sept 17th agi-prop festival.

    It is something Peroo or Chavez would try.

    Grab more wealth and give it to the Establishment Left who caused this mess in the first place. Give them more power. Destroy more wealth. That will fix it.

    This is almost as bad as the G;obal Warming fraud.

    You people should be ashamed at how easily you are manipulated.

    “Change of mood” indeed. What fools.

    1. DSP

      Hapless and gullible group of nurses,ye reckon.
      Nurses,with few exceptions,are the least hapless and gullible group in society.They’re on the frontline for almost everything.
      Next time you go to Hospital,let the nurses know your frank and refreshing views.

        1. ambrit

          Dear Wunsacon;
          That should be Young Republicans. A more focused and dedicated group. I knew several in high school and college. The older crowd at least had read Adam Smith, Bentham, even Goldwater. You could have great knock down drag out debates with them. This new crowd is more a knock you down, drag you out by your heels bunch. If Bill Buckley and his cohort were our Junker Class, the modern Movement conservatives are definitely our Brown Shirts.

    2. big cigar

      Strictly speaking, what Chavez would do is more like humiliate your patriotic ass with free heating oil for your miserable shivering peasants. Well, we’re all in it together, aren’t we, Soros owns your betters too! He took a stake in an oil venture that was set up to teach GW Bush the ropes (had to pull the plug though, when he found out the boy had no pull with the Saudi royals.) Still, he made money hand over fist, didn’t he? Resistance is futile, you know.

    3. Yves Smith Post author

      Someone who runs right wing talking points talks about being manipulated and childish. Google “projection”, this is a textbook case if I ever saw one.

    4. different clue


      If global warming is a fraud, then you have a real and very valuable contrarian investing opportunity. Because if the global is not warming, that means the icecaps and glaciers are not melting and will not melt which means that the oceans are not rising and will not rise. That means all the people who think the oceans are rising are gullibel victims of the fraud. That means that the land they are starting to flee from will get cheaper and cheaper and cheaper. If it is a fraud, you could buy land along the Florida and Gulf coast (for example) and hold onto it until the rest of us realize what a fraud global warming really is. Then when we want to return to coastal land, you will be owning some of it and you will get to name your price. You or your heirs will make a killing. It will be the start of a new financial dynasty.

      So what you should do is borrow all the money you can and cash out your 401k and put all that money into coastal seaside property; most especially in places like the Gulf Coast and East Anglia and etc. And you will do that very thing, too; if you really believe global warming is a fraud.
      You would be putting your money where your mouth is and you would be an inspiration to conservatives everywhere.

    5. monday1929

      This Trader is all in favor of such a tax. And you Goldmen have made Communism a MUCH less frightening word. Your greed destroyed you. Do PR gigs pay per word?

  6. dearieme

    Just as I would dismiss at the idea of asking a cabal of bankers how to run a hospital, I laugh at the idea of a bunch of nurses instructing us on how to run Wall St.

    What I would be particularly interested in is the views of people who have experience of the financial biz but who are unsympathetic to its mores. Like — oh, her name’s on the tip of my tongue.

    1. alex

      “I laugh at the idea of a bunch of nurses instructing us on how to run Wall St.”

      Then you’re in the embarrassing position of laughing at people who have a damn good idea.

      You don’t have to be an expert in finance to realize this is a good idea, any more than you have to be a nurse to realize that frequent hand washing is important to infection control. The idea of leaving everything to the “experts” is just a way of bending over.

        1. scraping_by

          Bankers are running the finance sector to enrich themselves and impoverish the rest of us. On that basis, they’re doing exactly what they need to do.

          You’re quite right it doesn’t work for a national economy. It more resembles a colony being exploited by an outside power, complete with local collaborators, large cash outflows, and disinvestment in important sectors that would raise local standards of living. Some of the colonists are born American, but their loyalties lie elsewhere.

          As to politicians, I suggest you take another look at who’s on what end of the strings in that puppet play. Indeed, this can be seen as another divide and conquer ploy along with blacks vs whites, young vs old (Social Security), union vs nonunion, evangelicals vs mainstreams, South vs North, and too many more.

          1. Sauron

            Oh, I know. It was a rhetorical device. Either one has to argue they are doing a good job for their ostensible purpose(snicker) or one has to argue they are doing a good job for their real purpose, which you admirably describe. But saying they are good thieves isn’t really much of a defence.

    2. sgt_doom

      Curious, dearieme, how you appear so completely oblivious to the fact that private equity firms (private banksters) have made so many leveraged buyouts on so many hospitals, clinics and across the healthcare sector (thus artificially and spectacularly driving up the cost of healthcare)???

      Equally curious, you appear so completely oblivious to the rampant leveraged and ultra-leveraged speculation across the healthcare sector by hedge funds; 90 healthcare hedge funds counted back in 2007-2008, while over 10,000 in the USA alone. (Also spectacularly and artificially driving up the costs of healthcare in America.)

      Thusly we find the top three cost drivers in healthcare in America:
      (1) PE leveraged buyouts in the healthcare sector;
      (2) Hedge funds speculation across the healthcare sector; and,
      (3) High costs by doctors due to nature and use of private health insurance in America.

      Considerably different from what those talking heads keep claimining, huh????

    3. dcblogger

      I laugh at the idea of a bunch of nurses instructing us on how to run Wall St.

      Well sure, because the bailout boiz have been doing such a bang up job of running the financial sector.

    4. casino implosion

      They said the same thing about the Populist movement. How dare a bunch of sharecropping hillbillies dare to have an opinion on such high matters as the monetary system of the nation? And yet here we are, more than 100 years later, with no gold standard and paper money.

      1. F. Beard

        And yet here we are, more than 100 years later, with no gold standard and paper money. casino implosion

        True but bankers have learned to manipulate paper money too. We need to so decentralize private money creation that NO ONE can manipulate it.

    5. Ethax

      “Just as I would dismiss at the idea of asking a cabal of bankers how to run a hospital, I laugh at the idea of a bunch of nurses instructing us on how to run Wall St.”

      That would only be funny if they wanted wall street to be more efficient at what it does.

  7. lambert strether

    It’s a news blackout. Exactly like the news blackout career “progressive” bloggers imposed on single payer advocates. (Refusing to cover Dr. Margaret Flowers when she got herself arrested in Max Baucus’s Senate hearing room because he, too, was suppressing single payer.)

    1. alex

      I picture Stalin looking up from Hell and feeling shamed that our information control methods are so much more effective than his were.

      1. Kukulkan

        Okay, I’m confused. What’s the difference between “real jobs” and “fake jobs”? Are you saying what teachers do is just make-work and that people don’t actually need education?

        I remember many of my teachers and I know they felt a sense of moral satisfaction when any of their students did well and went on to successful careers. Are you saying that helping educate such people isn’t contributing to real wealth? If not, then exactly what do you think it is?

        Seriously, I don’t get your argument at all.

      2. ambrit

        Dear alex;
        “I picture Stalin looking up from H—..” All he need do is look to his right and ask Ronnie how his masters did it.

  8. Whatclowns

    The bitter and prolonged fight of workers against the Koch brothers occupied Wisconsin has never shown up on national media either.

    Wow. Pure loony Left wing narcissism and outright paranoid delusions. WI had nothing to do with the Left Wing fantasy of “the Koch Brothers”, or any other of its fictional bogie men.

    WI was about taxpayers struggling with a corrupt and arrogant public sector Union who through political corruption, the lies of fellow travelers in the MSM and academia, and actual violence sought to hold the citizens hostage. It was “the workers” (i.e., productive wealth producers) against self-important parasites, Unions thugs and their masters.

    Is was not a struggle between “The Working Class” and “Plutocrats”. To call the low level beneficiaries and the apparatchik of the Demcrat patronage machine “workers” is to not understand what “work” actually is.

    After all the funds from the Establishment Left that poured into WI, you are going talk abut the “Koch Brothers”? The Establishment Left dwarfs the “Koch Brothers”. (oh, and the lost by the way–tee hee.)
    You just do not like the idea that someone might interrupt your narcissist delusion. That is what this absurd meme of the “Koch Brothers” is about.

    Listen, people like the Koch Brothers create real wealth and give real “workers” real jobs. The Public Sector Unions destroy wealth and give people (mostly) fake jobs, and give thw shabby performance of sectors like public education, they cannot even perform those fake jobs at even a mediocre level. What we need is a great many more people like the Koch brothers and to do away with Public Sector Unions altogether. In the end, the “workers” will be thankful for the higher wages and moral satisfactions that real and actual productive labor produces. Along the way, the Union crooks, along with the Democrats, will have to settle for making a honest living, or move on to a new con game. (They will no doubt do the latter as they are incapable of the former.)

    You really need to grow up and learn to think for yourself. The Left is just using you

    1. jamienewman

      “Absurd meme” Watch Alert!!

      “Left Wing”
      “fellow travelers”
      “union thugs and their masters”
      “Democrat patronage machine”
      “The Establishment Left”
      “Public sector unions destroy wealth”
      “Union crooks”

      1. Anonymous Jones

        Seriously. It seems these posters think they can just apply a few of their “magic” labels to any sentence and, abracadabra, they’ve made a winning argument.

        Obviously, this can work when speaking to the ignorant and the stupid. Probably not going to work with the crowd here. Not sure why it’s being attempted. I guess people tell themselves something enough times they actually begin to believe it, no matter how little logic or reality is present.

        I really love that a Wall Street transaction tax is the slippery slope to “Communism”. Obviously, the only way you could say that with a straight face is if you truly had no idea (i) what the transaction tax is and (ii) what communism is.

        I can’t even imagine how the private-public partnership of Wall St and the politicians, haphazardly created over these last 30 years until it’s now firmly entrenched and abusing the rest of this country’s citizens, is a Right-Left issue, but of course, there are more things I don’t understand about what crazy, ignorant people believe than things I do understand about it.

        1. sgt_doom

          Speaking about news blackouts and the Koch brothers, I recall how difficult it was to convey the information, during the Bush years, that Cheney’s godson, DJ Gribbin IV, bounced back and forth between the Department of Transportation and Koch Energy and Koch Industries, while the Bush daughter’s married name was/is…….Koch.

          (DJ Gribbin is presently going about the Lord’s work: attempting to privatize every toll road in America.)

          1. ambrit

            Dear Sarge;
            Good heavens man! Are you seriously implying that the Bush family are a bunch of Koch…..? What cheek!

    2. Glenn Condell

      This gets my vote for Most Witless Comment ever at NC, regardless of whether it’s turf or sincerely held idiocy. Either way it doesnt take long for the chuckle to taste like ashes in your mouth.

      The coexistence of a critical mass of people capable of entertaining such self wounding sentiments (and proudly braying this sad garbage into a public sphere which generally rewards it) with a situation where good people braving this nasty myopia are deliberately ignored… It can’t end well.

      I’m off to try a spot of ‘thinking for myself’ Perhaps my convictions too will magically align with the brothers Koch.

      1. Sauron

        The arm chair right-wingers are the ones that really need to grow-up here. Capital’s happy, big business is making record profits. They have the pie and are eating it too. I imagine they don’t give a fig about anything else.

        Their useful idiots, on the other hand, continue to believe in the pie fairy. If we give the wealthy the pie, then magically we will all have pie. And if that doesn’t work–if we give the wealthy more and more pie, but get less and less, there must be some sort of pie demon at work. Magical thinking.

        Of course, not all believe in the pie demon. Some just think that if we are giving the wealthy more and more pie, and we have less, THEN the answer is to give them MORE pie. That’s not magical thinking–that’s just stupid.

        I suppose it makes sense religiosity and the right wing walk together–it’s a short step from the guy in the sky to the pie in the sky.

        1. Ming

          Hey, hey, hey…. That was an un-called for broad side, against all religious people. You should be more specific in your attack… There are the literalist ‘earth was created in 6 days’ type people, who are easily tricked by the rightwing drivel spoutted by the Koch brothers, but there are many intelligent religious people who ardently believe in God and are grounded I’m facts and science… Should not be lumped in with the others.

          1. justanotherobserver

            maybe they shouldn’t be lumped together but believing in the guy in the sky is still irrational.

          2. ambrit

            Dear St Just;
            Sure, sure. Have you ever stopped to consider just how much of human existence is at root unrational? Why should belief in a supreme being be equated with belief in a ‘Hidden Hand’ that guides markets? One of the above is profane, can you tell which?

    3. lambert strether

      Whatclowns — and how refreshing to see a full blown case of Winger Projection Syndrome right there in a handle — burbles:

      WI had nothing to do with the Left Wing fantasy of “the Koch Brothers”,

      I guess that’s why the Koch-funded Americans for Prosperity made a $342,200? A strange idea indeed of “nothing to do with”!

      * * *

      The problem with winger trolls is … Well, it’s a shame. But they lie all the time.

      Alas, the same is true for operatives of both legacy parties. Whatclown is easy to refute, although, no doubt being funded, he’ll just repeat, repeat, repeat without actually engaging. D operatives are, in fact, harder to refute because they are sneakier and even more dishonest. And so it goes.

    4. Ming

      Excuse me… Koch brothers create wealth? On the same note, did Pharoh create wealth? In a pharoh’s case, he dictated that others should think, work and struggle to create the monuments to his glory and vanity. He did not lift a finger, nor contribute effort by activley organize the day by day or month by month operations of the workers and scribes of his time. It is a pity that we only remember Pharoh, and not his legions of workers, stone masons, and scribes, who organize and built the monuments. However, Pharoh had authority, via religious ritual and backing and the allegiance of army, so that others were willing to obey. In parrallel way, the Koch’s are no different; they sit atop of vast organizations and collect the money, but they provide no meaningful direction or wealth creation, other than to say ‘I want this…’.

      1. Sauron

        Nice analogy.

        As for the religion comment, I couldn’t resist the line. Also, every self-consciously Christian person I’ve met has been a right-wing rather hateful person, even though the thrust of the New Testament is the opposite. So the two, in my experience do go together even though there is no conceptual reason for it.

        I HAVE heard rumours that there other kinds. Maybe someday I’ll meet one.

          1. ambrit

            This reminds me strongly of the Dharma Bums! Can the Merrie Pranksters be far behind? I hope they show up soon. We need them badly.

    5. marco rube-io

      Koch’s daddy made his money as a commissar for Joe Stalin, came home and gave the boys $300 Mill, but to their credit the little nippers worked real hard stealin from Indians at the wellhead gauges and really made somethin of themselves. Now the brothers go to the Opry and all, not the Nashville one neither, the one with hats with horns and stuff! Yee-haa, Texas crackers made good!

      1. LeeAnne

        This was a shocker -to see David Koch’s name on the Lincoln Center building wall most prominent as you enter the plaza from the Broadway main entrance.

        “New York City Ballet and New York City Opera today announced that their companies’ shared home at Lincoln Center will be renamed the David H. Koch Theater, in honor of Mr. Koch’s $100 million lead gift to the Ballet and Opera’s joint capital campaign for the New York State Theater. This gift is the largest private capital donation in the history of Lincoln Center. The gift will help to fund the unprecedented joint initiative by City Ballet and City Opera to modernize and enhance the artistic and visitor experience and to establish an endowment for future capital projects and theater maintenance.

        Since its opening in 1964, the historic building, designed by Philip Johnson Associates, has been known as the New York State Theater. In April, the State of New York passed legislation that enabled New York City Ballet and New York City Opera to offer this historic naming opportunity to the philanthropic community. It is anticipated that the name change will take effect by this fall.”

        It did.

    6. Yves Smith Post author

      This guy is the same idiot as ohreallyow earlier in the thread. Using multiple handles to try to create the impression your views are broadly held is grounds for banning. Classic troll behavior (as if that was not clear already).

      1. ambrit

        Estimable Hostess;
        Look on the bright side. You must be hitting a sore nerve somewhere to elicit this response. Be proud, your accomplishments are manifold, and recognized.
        Also, blast, I really are dim. The multiple personality tactic never crossed my mind. I feel so, so, inadequate.

  9. Anonymous

    There has been a systemic attempt to weaken the nurses’ unions by hiring lower paid immigrant health workers primarily from the Philippines and also other third world countries. It’s just a matter of time before nursing becomes dominated by low wage workers willing to tolerate poor working conditions. Health care has already been suffering as a result while profits soar for the insurance companies private providers.

      1. ambrit

        This has been happening in Construction since Ronnie sold his soul to the Prince of Darkness in return for Power and Dominion. Of course, Old Scratch got the better of the deal, as he usually does. (Why is the Adversary universally described as male? Angels of all types, fallen or not, are supposed to be sexless beings.) Ronnie developed serious Alzheimers symptoms well before the end of his first term. I wonder what he thought and felt when he saw the Demons coming for him at the end?

          1. ambrit

            My Dear Beard;
            Yes indeed, but the wrong part, I fear.
            I am still trudging through those pesky economics texts I picked up at my local Goodwill. So, I feel less than equal to considering your ‘source of money’ suggestions. However, that said, wouldn’t your concept foster a hyper regionalism? Or perhaps a Syndicalism? (Not that I can think of any serious objections to either.)

          2. F. Beard

            However, that said, wouldn’t your concept foster a hyper regionalism? ambrit

            The Federal Government would (and should) create, spend and tax as necessary its own fiat so that would remain to unify the country.

            However, the goal is to cause the need for government to shrink over time (both in size and scope) to its optimal size.

          3. skippy

            @ambrit… In the day, I could put together a good bunch of murdering cut throats. Now as long as they were restricted to engaging their own kind, in theater, all was good.

            Skippy…problem was when the day job was done is what happens when they go down range.

          4. skippy

            @beard…define optimal, its just a catchphrase in my book, where on a liner scale would you assign its position.

            Skippy…too much generality methinks, almost political.

          5. F. Beard

            define optimal, its just a catchphrase in my book, where on a liner scale would you assign its position. skippy

            I don’t know what the optimal size or scope of government is. However, due to the government enforced private money monopoly, the banking system, the need for government is much, much too great.

            So let’s abolish that monopoly and the need for government should greatly shrink over time.

            too much generality methinks, almost political. skippy

            Oh come on. I have specific recommendations both to bailout the population and to abolish the money monopoly.

          6. skippy

            How can you describe an action ie. reduction in size and scope, yet have zero concept of where or what it is. If you don’t know, why utter it[?], leaving no where to engage in debate, refute. Seemingly just a vaporous segway into ending any governmental influence in the private sector.

            Skippy…hell were more than half way there, at some point the oligarchs wont need the veil of political legitimacy. It will be do it our way or don’t eat.

          7. F. Beard

            How can you describe an action ie. reduction in size and scope, yet have zero concept of where or what it is. Skippy

            Well, one thing we know is that the counterfeiting cartel steals and is unstable. So we might expect that the need for welfare would shrink over time. Another problem the cartel causes is a need for exponential growth to pay the compound interest. That tends to damage the environment.

          8. skippy

            MMT would resolve most of your grievances.

            Your bail out would increase consumption there by deprecating the environment.

            Welfare…umm until we resolve the issue (most important in determining long trend success (empirical data) with a child’s first two years, its a big dog and pony show.

            Wars are resource looting, monetary system notwithstanding, it does not matter.

            Humanity’s growth rate necessitates exponential consumption, regardless of political, economic or monetary systems. Species success isn’t all that it cracked up to be…eh…go forth and multiply…oops!

            Skippy…by issuing statements that zero definition, you can’t be to sore about a request to define and still waiting. BTW private industry has more to do with theft than the government, its called wages and the corprate ratio from top to bottom.

          9. F. Beard

            MMT would resolve most of your grievances. Skippy

            MMT minus the banking system and government borrowing is 1/2 the solution.

            Your bail out would increase consumption there by deprecating the environment. skippy

            Consumption would only slightly decrease since the bailout would be combined with a ban on further credit creation.

          10. F. Beard

            Welfare…umm until we resolve the issue (most important in determining long trend success (empirical data) with a child’s first two years, its a big dog and pony show. skippy

            A decent living and lifestyle are probably very important to child development. Just being relatively poor is stressful for families. And most families requiring 2 wage earners has to be bad.

            Wars are resource looting, monetary system notwithstanding, it does not matter. skippy

            That remains to be seen, imo. A country that loots itself is going to be less squeamish about looting others.

            Humanity’s growth rate necessitates exponential consumption, regardless of political, economic or monetary systems. skippy

            Prosperity is the best way to cut population growth rates.

            Species success isn’t all that it cracked up to be…eh…go forth and multiply…oops! skippy

            Being anti-human won’t win many friends worth having. And being anti-Bible is unwise since the Bible could be used effectively against the Right Wing.

            BTW private industry has more to do with theft than the government, its called wages and the corprate ratio from top to bottom. skippy

            If I had my way, corporations would have to “share” much more wealth with their employees either by paying honest interest rates for their savings or via common stock as pay.

          11. skippy

            Sorry beard but your arguments boil down to two premises, government bad (unless very week) and private good. When its a case of private interference within the government that has caused our problems to date. As with your American soldiers fighting with coffee, smokes, and adrenalin comment, poorly researched, full of ideological bias.

            Anti human is a gross projection on your part, please keep the wild rhetoric down. I was only pointing out a empirical fact non emotionally, I know facts suck, better to be liked by the crowd. BTW define *Prosperity* as its usually an individualistic metric like happiness et al. My ideal of prosperity and the koch brothers is totally different ok.

            War, looting, unresolved…wow read some history please.

            Bible, 2000+ years and what has it done eh[?] they don’t call it dogma for nothing. dogmatic, see:

            The term most often refers to the infallible teaching of a truth believed bona fina de fide credenda, meaning one defined as explicitly revealed in the deposit of faith and demanding supernatural faith in itself on the authority of the Word of God: Public Revelation in Scripture and Tradition. Popes and ecumenical councils may also extraordinarily infallibly define truths to be held “de fide tenenda,” that is to say discerned as logically implied or intrinsically connected to the deposit of faith and guaranteed as infallible by the Holy Spirit, but not necessarily specifically and explicitly Revealed and so demanding supernatural faith not in themselves specifically, but as part of the faith in the Holy Spirit’s guarantee of the infallibility and authority of the Church in such matters. The difference is technical; such teachings upon further discernment may be advanced to the status of “de fide credenda,” and denial of either makes one a heretic as they are both infallible.


            Sounds like a great way to plan for the future, leave it up to god, its his plan anyway. Blueprints supplied by priests et al.

            Corporations and share is an oxymoron when used in the same sentence. BTW what form of coercion would you employ to force the issue, read them the bible? If you haven’t noticed, most of your American corporate top dogs go to church, temple, or profess to be one, etc. In fact it a justification of their status, god given right.

            Skippy…sorry beard your opines are not very persuasive to me, to many holes, lack of definition in key areas (arm chair thingy), no mention of a transfer mechanism, based mostly on one book (incomplete IMO) that has an abysmal historical track record. Let me know how you go after reading Dr Greabers book, hell don’t stop there, read lots of studies, raw field data, make up your own mind. Don’t fall into one book, its a cognitive doozie.

          12. F. Beard

            Sorry beard but your arguments boil down to two premises, government bad (unless very week) and private good. skippy

            How many people do you know that enjoy working for government? And those who do enjoy it are usually the worst sort. Of course a government job beats being on the street but most would agree that government is a necessary evil at best.

            All I aim to do is reduce the necessity for that evil.

            And no, the private sector is not always good but at least it allows the possibility of good. OTH, how did Stalin and Mao work out for you?

          13. Skippy


            Wow nice way to completely ignore my points of order, retraction of your grievous errors. Only to make a completely unsubstantiated observation “but most would agree that government is a necessary evil at best.”. Pray tell of the manufacturing of consent, where it occurs, in America, and that would be *historically* sitting in a pew only to be followed by MSM.

            Now lets look at how these classrooms of ideology are financed, can you say wealthy patrons and subsidized by *their* workers paychecks in the form of tithes…cough…spiritual toll roads – you have to pay to get your soul cleaned – spiritual company store, all looped ad infini (go to work, go to church).

            “All I aim to do is reduce the necessity for that evil.” — again with the vaporous judgements *evil* (define). Monotheism has been around a lot longer than our present government and its track record is abysmal, makes Stalin and Mao look like rank novices (by the way nice corollary to secularism, killing for god good, killing without god bad). Hell the echos of 2000+ years still reverberates around the world, look at it, is it good or evil…sigh.

            Skippy…by your own admission you were intrigued by the Mises folks, unaware of the strong authoritarian symbolism rooted in terms of antiquity or not[?], a sense of familiarity with its economic ideology and your religious views. Until in your minds eye it became fascist, a melding of state, religious and corporatism to rule over all. Phew close call…eh. Look that’s the danger inherent in ideology (religious or other wise), its a grab bag of Ithunkit and make believe, a mental template attached by self identity. To have it mucked with is an attack on the individuals – groups sense of self, place in the cosmos, barrier to fear, unsubstantiated or not (see dogma). We are all human, its just what we chose to *believe in*, before we get the facts, that separate us.

            I believe you enjoy a bit of South Park time to time:

          14. F. Beard


            You think I don’t know that there are plenty of fascists posing as libertarians? But Leftist elitists are no better. Do you think they should be trusted with power? I don’t. The are as tyrannical as the people they oppose.

            All I advocate is a bailout of the entire population and that the government get out of the private money creation business. As far as I can tell, it is the money power that it is root of most of our problems. Progressive should realize that they have been outmaneuvered by it and seek its abolition.

            Thanks for the Cartman. Always a treat!

          15. Skippy

            @ beard.

            “fascists posing as libertarians?”.

            Semantics beard, individualistically defined, each individual applying the bias ingrained in their own optics (its be grandly displayed in past posts comments on this site). Additionally lets not forget what century Libertarians sprang forth from, not very well informed to make such dicta in toto. Although you are ok with religion and corporatism as bed fellows, but, no secular government ménage à trois allowed. Beard this is about power relationships, monies are just one tool of it, but there are others, its really about the relationships, what they give birth too and not the form of exchange used to facilitate it. Separation of church (corporatism by deity – deity influenced corporatism) and state is for a reason, why do they always try to infiltrate the government and then call it bad yet utilize it to further their own agenda…eh?

            Skippy…I’m not a Progressive, just a human, like you.

          16. F. Beard

            Although you are ok with religion and corporatism as bed fellows, but, no secular government ménage à trois allowed. Skippy

            The State has a legal monopoly on force. Neither religions nor corporations can force us to do anything UNLESS they use the State. The bankers have secured a monopoly on money creation via the State. That monopoly should be abolished.

            Not only do we need separation of church and State; we also need separation of government and private money creation.

          17. Skippy

            Geez beard we have already done that, it was fuked, go read about it.

            “The State has a legal monopoly on force” —- its called governance for a reason, if you like move to where there is none (or a compound in the wilderness), just pack heat at all times and be prepared to defend your self. Surly god will sort it out, decide the winner and losers.

            I have no problem kicking the banksters to the curb, let the government issue, money issuance is not a private affair, its the peoples money. No private banks no counterfeiting…eh…how hard was that?

            “Neither religions nor corporations can force us to do anything UNLESS they use the State.” —- Well one controls your eternal soul (biggest leverage in believer land, burning for ever), corporations damn, your wages, future security, etc.

            For the last time, it was both of your good guys that took over the government. So your solution is to do them the biggest favor, their wildest dream, unleash them, zero accountability, let individuals fend for themselves? Seriously what is your life experience, how far and long have you traveled, what other parts of the globe have you witnessed and when doing so removed as much bias you can, see life through an others, question your hole life too that point. Belief unquestioned is just a fools paradise, see the rampant poor flowing into mind control camps, their lot never changing, they just are promised relief in the afterlife, if their obedient.

            Skippy….and yet again you can not or choose not too address the body of my points. Only picking out one, the easiest to manipulate and insert your dogma.

            BTW your bailout sounds more like a cheep one time cash injection to buy off people, hand over the last vestige of We the People for its every dog for him self.

            PS there are bigger problems than money creation and control, its kinda like picking out wall color whilst the house is on fire…sigh.

  10. Ransome

    Not to mention hedge funds and private equity purchasing health care service providers. They know where to find the revenue streams. Health care is a bit of a third rail for Republicans, vouchers was a clever concept that allowed cost shifting to the patient without restricting profits.

  11. Aquifer

    Hmmm, it appears that folks here aren’t too familiar with nurses …

    I worked with them over 20 years in hospitals. They, as a group, are the most hard working, caring, competent folks i have met – and quite fierce when it comes to standing up for patients.

    The fact that they have become politically active is, IMO, quite significant. If you watched the video you will see that they have made “the connections” and not from books or blogging – but from hands on, literally, experience. And when you make connections that way – once you decide to take action, you are a force to be reckoned with.
    I am thrilled that they are in the fray and i hope they keep taking it up a notch – they may prove to be a fulcrum in this movement ….

    1. sgt_doom

      They certainly saved my life.

      God bless the nurses, and it’s time the devil got his due from the Kochs and the rest of the bankster swine.

    2. ambrit

      Dear Aquifer;
      Over in England, nurses are still called Sister. The associations are numerous and powerful. Now I am happy to see our American Sisters taking aim at restoring the spiritual as well as the physical selves of the people. Go Nurses!

  12. Eureka Springs

    We need about 50 million cheap paper nurses caps to distribute and wear (or at least place on ones desk or other prominent areas) in solidarity. Nurses are right, gamblers should pay the highest taxes of all… some taxation would be a terrific start.

    Call it all nursing our nation back to health.

    1. LeeAnne

      Mookie, thanks for the link -my introduction to RoseAnn DeMore and an eloquent speaker for the cause. It is an excellent show.

    1. Yves Smith Post author

      Actually, two, one of them pretending to be more people than he was via multiple handles.

      I noticed this when I was posting on Wisconsin. There is clearly a somewhat organized effort to undermine discussion at sites that say anything positive about unions (and notice this post didn’t even have the word “union” in it to get picked up in a keyword search).

      1. Glenn Condell

        I find myself wondering how organized this trolling is. Do they have a ‘situation room’, where emerging threats are assessed by a committee of some sort (nah, too commie, better a ‘charismatic leader’) and foot soldiers dispatched to do battle with librul heathen? They are always overmatched but perhaps this just helps foster a ruggedly individual ‘little guy’ self image, bravely taking on a legion of lefties on behalf of some perverted idea of free market democracy exemplified for them by big kahunas like Koch. Or are they simply earning a few bucks on the side?

        1. ambrit

          Dear Sir;
          I’m tempted to surmise that for a lot of them, this has become their main source of income. Thier original jobs having been outsourced or redundencied. This behaviour is nothing new. Politicians have always used shills and plants ‘in the crowd.’ The Southern Regional humourist Justin Wilson told lots of funny stories about his first ‘real’ job, as a ‘provacator’ out in the crowd during campaign speeches by the late Governor Long. Just about every strategy known was tried, and usually worked.
          What’s more important is that the public be educated to detect astroturfing and general trollery. Humour has worked best for me in my attempts to expose these charlatans to my fellow Sothrons. It can be done, and it must.

        2. Capo Regime

          Trolling is very organized. Contractors in D.C. do it to shape opinion in middle east papers for example. Be assured that there is at least one firm (or interest) that is more than happy to spend $50-100k per year to hire a few trolls to post their musings here and try to shape opinion and inject memes….Lots of jobs as trolls in D.C. if you can write Hebrew or Arabic…..There are service agreements for trolls from anything from posting on NC to bashing stocks on discussion boards to appease the shorts. So yes, some outfits do have virtual and even real troll situtation rooms. Its a small but growing industry.

      2. Paul Tioxon

        Rendell: “Deeply embarrassed” over spying on peaceful groups

        Pennsylvania Governor Ed Rendell apologized Tuesday to groups whose entirely lawful events were the subject of regular anti-terrorism reports provided by a Philadelphia-based Israeli-American outfit to state law enforcement agencies, the AP reports:

        An embarrassed Gov. Ed Rendell apologized Tuesday to groups whose peaceful protests or events, from an animal rights demonstration to a gay and lesbian festival, were the subject of regular anti-terrorism bulletins being distributed by his homeland security director.

        Rendell said that the information was useless to law enforcement agencies and that distributing it was tantamount to trampling on constitutional rights. ….

        “This is ludicrous,” Rendell said. “And I apologize to any of the groups who had this information disseminated about their activities. They have the right to protest.”

        Rendell said he was “deeply embarrassed,” and said the fact that the state was paying for such rudimentary information was “stunning.”

        Rendell said he ordered an end to the $125,000 contract with the Philadelphia-based organization, the Institute of Terrorism Research and Response, that supplied the information, but said he was not firing his homeland security director, James Powers. …

        1. LeeAnne

          Maybe Mr. Rendel will turn himself in and serve some community time for his ’embarrassing’ support of tyranny and treason.

          We’re familiar with ‘possession is 9/10s of the law.’ Is ’embarrassment’ now a get-out-of-jail card along with bankers’ ‘working hard’ and Treasury Secretary’s false testimony to Congress while under the influence of the Ayn Rand novelist’s cult.

  13. Susan the other

    Hedging and speculating on health care is as immoral as hedging and betting on starvation. Or the price of grain or oil. I think it might be acceptable to hedge and bet on such things as the earning potential of a movie, or something that was utterly frivolous and unimportant to humanity. But not the shit that is being tolerated today.

  14. Paul Tioxon

    The unions are rethinking their role. Expect a Union Credit Union. It will run like a national internet bank with state of the art bill pay, paypal like transfer of funds to any electronic account. Expect targeted public withdrawal campaign on the part of union rank and file from a really Big Bank in America. Expect a Mutual Union Insurance Company. Expect food coops to be expanding at rapid rate. Expect financial transfer fees to fund economic development of small community businesses, based on the Community Development Corporation legislation. We will slowly but surely grow a new economy to replace the dead one that is still trying to figure out what to do with all of the money they have, but no country to put it in. Try Dubai.

    1. different clue

      If the unions and their movement could really create a trans-America all-Unions credit union, would it/they permit other credit unions to buy its nationwide money-moving/processing services? That would make other credit unions also more effective and enable them to start detaching themselves from the Class Enemy Owned infrastructure of money moving/processing. Since I assume that only union members would actually be permitted to actually join the Grand Union Credit Union.

      Along with food co-ops, I would also expect farmers markets to spread and expand. More restaurants will make a point of buying locally produced family farm grown food inputs. Not everyone will be able to afford to go to such restaurants or markets. But those who can do so will be funding many little centers of economic resistance against the Corporate Economic Occupation regime. Or might I say the Class Enemy Occupation regime?

    2. F. Beard

      Not so good. The Unions will fight the bankers by becoming bankers themselves? They may protect themselves but they will do so by joining the looting of the general population via money creation.

  15. mk

    liberals are so effing stupid. why haven’t they organized and purchased/built their own media empires after all these years?!!!!!!!!

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