We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, September 25, 2012

Quadrillion Dollar Derivatives Market 20 Times Global GDP

Click here to access transcript of interview conducted by Paul Jay of Real News Network with Marcus Stanley who is the  Policy Director of Americans for Financial Reform.

In this interview Stanley explains the bizarre extent to which casino capitalism has reached. Nowadays capitalists can make huge bets with "derivatives" that can, and often do, create huge disasters for ordinary people. His agency is trying to put this derivative, dangerous genie back into its bottle, or at least "regulate" it. That will never happen. The genie itself must be destroyed and replaced by the genie of a common humanity liberating itself from any class system.

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