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In reply to the discussion: I just found The People's Union website. Join the "Economic Blackout" from midnight Feb 27 to midnight Feb 28. [View all]snot
(10,967 posts)45. This looks good. That said, I'd like more info.
The "union"'s website includes a bio of the founder and a mission I like but that is only vaguely stated. Are there any officers or employees besides the founder? Is there a Board of Directors or other advisors? How has the organization been funded so far?
I do believe that work strikes and the like are probably one of the more effective strategies left to us; but don't we need more specific goals? Are there any specific demands associated with the proposed "blackout," or are its goals even vaguer than those of the 2011 Occupy Wall Street movement?
E.g., w.r.t. Wall St. regulation, I'd propose we should push to outlaw or much more severely restrict and police:
Leveraged Buy-Outs or LBO’s
Speculative credit derivatives (CDO’s, CLO’s, et al.) (i.e., derivatives purchased not to hedge against a substantive risk intrinsic to the purchaser's business but merely as speculative bets on someone else's business. Dodd-Frank tried to help here but I'm not sure how far it got.)
Depositary and speculative investment banking in the same institution (i.e., we need to restore Glass-Steagall for real).
High frequency trading
Stock buybacks
Executive compensation in the form of options exercisable within less than ten years
Manipulation of paper markets for metals and other commodities
The power of the Fed to buy securities of unsound companies
The various devices used by the Fed to indirectly set negative real interest rates
The elimination of the broker "fiduciary" rule
Revolving door between Wall St. and its regulators
And of course the self-dealing by Congress in securities of the companies they have inside knowledge of
--among other things.
Similar programmes of specific reforms in other areas (e.g., our health care system!) need to be formulated.
I realize the site calls for union members to choose agendas, but the procedures for that along with almost everything else seem vague.
I also wonder about coordinating efforts with other organizations with similar goals, such as Represent.Us.
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I just found The People's Union website. Join the "Economic Blackout" from midnight Feb 27 to midnight Feb 28. [View all]
LaMouffette
Feb 9
OP
Thanks for passing it along! I think this has merit and is in the spirit of the Montgomery Bus Boycott that sparked the
LaMouffette
Feb 9
#4
Why wait, start now. Here's a tool to go along with this one. More tools the better.
Hotler
Feb 9
#2
Well, certainly no Facebook and Twitter. Those should be on permanent blackout.
Scrivener7
Feb 9
#38
Freeze the economy. Oh, income taxes are due when? Let the 49.8% that voted for Trumpf file their taxes.
C0RI0LANUS
Feb 9
#21
My apologies! And thanks for catching that mistake on my part!!! I have updated the title of the post.
LaMouffette
Feb 10
#75
I am SO sorry! The one I posted about will be from midnight February 27 to midnight February 28.
LaMouffette
Feb 10
#76
There is a lot to keep on top of these days, that is for sure, what with protesting Rump/Musk and opposing and
LaMouffette
Feb 10
#84
What does that even mean? Interrupt what services? The OP is calling for a no buy day.
Scrivener7
Feb 9
#32
This should be our regular all-the-time thing: "If you must spend, ONLY support small, local businesses."
FakeNoose
Feb 9
#33
No big deal overall economically. It is a message about solidarity and potential future action.
Trust_Reality
Feb 10
#69
Well you lucky dog! Kalama beach park in Kailua. You won't be disappointed........
Bengus81
Feb 9
#50
Thanks for raising these issues. I literally found out about this organization and the Economic Blackout Day yesterday.
LaMouffette
Feb 10
#77