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Fight for Food, Fuel, Housing Challenges Capitalism

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Fight for Food, Fuel, Housing Challenges Capitalism MUNDO OBRERO ¡Luchemos por un programa obrero para salvar empleos y viviendas! 12 Workers and oppressed peoples of the world unite! workers.org OCT. 16, 2008 VOL. 50, NO. 41 50¢ Finance collapse spreads worldwide Fight for food, fuel, housing challenges capitalism By Jaimeson Champion global capitalist system more unstable. runs that have obliterated financial insti- The increasingly global character of tutions in the U.S., multiple European In recent years, many bourgeois econo- this crisis was evident on Oct. 6 when countries have hurriedly announced plans mists have advanced the theory that capi- European and Asian stock markets began to guarantee bank deposits. Sweden, talist economies around the globe have the week with steep plunges. Germany, Denmark, Ireland and Spain all largely “decoupled” from the world’s larg- The FTSE in Britain, the DAX in announced new deposit insurance plans. est economy in the U.S. The theory goes Germany and the CAC 40 in France all fell that the advent of the European Union more than 5 percent on Oct. 6. In Asia, the Capitalism: a crisis-prone system and the growth of powerful economies in Shanghai Composite and the Nikkei also that must go Asia have limited the risk that an econom- fell more than 5 percent on Oct. 6. Capitalist politicians and pundits have WW PHOTO: ALAN POLLOCK ic crisis in the world’s largest economy The Oct. 3 announcement that the U.S. recently been advancing the claim that could spread globally. Congress had passed an unprecedented this crisis was avoidable, and that it was FORECLOSURE So much for wishful thinking. The global and criminal $700 billion giveaway to a matter of a “lack of regulation” in the FIGHTBACK capitalist system is now deep in the throes the banks has apparently done little in financial markets that led to the current of the largest economic catastrophe since the way of calming U.S. or international meltdown in Boston and Michigan 6-7 the Great Depression. The systemic crisis markets. The major U.S. indexes also But the reality is that economic crises that first emerged in the U.S. housing sec- went into free fall at the opening bell with such as the one the world is currently suf- tor has now spread to nearly every market the Dow down nearly 600 points by mid- fering through are inherent to the capital- in nearly every corner of the globe. day on Oct. 6. ist mode of production. These crises result NO BORDERS! As Venezuela President Hugo Chávez Treasury Secretary Paulson attempted from capitalist overproduction. Latin American unionists said at a recent summit in Brazil, the eco- to sell the U.S. public on the bailout by As Karl Marx wrote in “Theories of tour U.S. 9 nomic crisis emanating from the U.S. has saying that without passage of the bail- Surplus Value,” “Overproduction is spe- “the power of one hundred hurricanes.” out bill, the economy would self-destruct. cifically conditioned by the general law of Following the dissolution of the Soviet Despite the passage of the bailout bill, the the production of capital: to produce to Union, which had provided a counter- economic storm is clearly continuing with the limit set by the productive forces, that ABOLISH PRISONS weight to U.S. imperialism, the U.S. has gale force. is to say, to exploit the maximum amount brutally extended its economic hege- European leaders announced their own of labor with the given amount of capital, Thousands at conference 3 mony around the world. The tentacles of round of bailouts of financial institutions without any consideration for the actual U.S. finance capital have been sunk into over the weekend of Oct. 4-5. On Oct. 5, limits of the market or the needs backed nearly every market, in every corner of the bailouts were announced for Hypo Real by the ability to pay.” globe, greatly increasing the risk of conta- Estate, a large German mortgage lender, Crises of overproduction erupt when CRISIS WITHIN gion. The growing cross-border intercon- and for Fortis, a Belgium-based banking workers can no longer afford to buy all the THE CRISIS 5 nectedness of production networks and and insurance company. multitude of goods which the capitalist has streams of finance capital has made the Apparently fearing the kind of bank Continued on page 6 NEW YORK EMERGENCY MEETING Actions to hit banker bailout By LeiLani Dowell Called on an emergency basis in response to the $700-billion bailout of the banks and the ever-increasing hardships facing working and oppressed people, a meeting of 100 activists and organizers was held here at the Solidarity Center on Oct. 4. The meeting, which was attended by a large number of youth, trade unionists, community and anti-war activists, Teamster leader. Chris Silvera. Open mike session. focused on building a movement in New York and nationally to counter the economic attacks on poor and working people Continued on page 6 Subscribe to Workers World Four weeks trial: $1 One year: $25 NAME PHONE ADDRESS EMAIL CITY/STATE/ZIP WORKERS WORLD Speakers LeiLani Dowell Youth breakout group. 55 W. 17 St. NY, NY 10011 212-627-2994 www.workers.org and Larry Holmes. WW PHOTOS: MONICA MOOREHEAD WW IN 1986 U.S. bombs Libya 10 PENTAGON HQ UNWELCOME Africom stays in Germany 11 Page 2 Oct. 16, 2008 www.workers.org Imprisoned Rev. Pinkney runs for U.S. Congress H In the U.S. Actions to hit banker bailout . 1 By Andrea Egypt Imprisoned Rev . Pinkney runs for U .S . Congress . 2 Detroit Critical Resistance fights to abolish prisons . 3 Due to the great outpouring of support in Michigan, Community demands change following Taser tragedy . 3 Rev. Edward Pinkney has become the Green Party can- Solidarity school forges Southern workers’ unity . 4 didate in the 6th District Congressional race. He is run- Ohio foreclosure prompts suicide attempt . 4 ning against incumbent U.S. Congressman Fred Upton, Capitalism breeds war, depression . 5 a political heir to Whirlpool Corporation-Harbor Shores Michigan foreclosure moratorium . 6 Community Redevelopment Inc. Cleveland: 'Bail out workers, not bankers' . 6 Reverend Pinkney won the nomination even though Berrien County’s criminal justice system has locked him Call to action . 6 away on a 3-to-10-year prison sentence. The reverend is Boston activists confront bankers to stop evictions . 7 Benton Harbor’s community activist and minister for the Mumia on ’Fall of the House of Capital?’ . 7 oppressed and dissident African-American, Latin@ and Economic crisis: It isn't just greed . 8 white populations. Rightists deprive youth of voting rights . 8 Despite his imprisonment, Rev. Pinkney remains defi- Rev. Edward ant and vigilant against the ruling elites of this southwest Pinkney H Around the world Michigan community. Reverend Pinkney continues to gain tremendous sup- Financial collapse spreads worldwide . 1 port from people inside and outside Benton Harbor. community. The white-dominated power structure in Latin American trade unionists tour in Boston . 9 Many see in his case the blatant contradictions within the Berrien County is seeking to bring about the massive dis- WW in 1986: Stop Reagan’s terrorism against Libya! . 10 legal system. Activists are keeping in contact with Rev. placement of the African-American community through Africans reject U .S . Africa Command . 11 Pinkney inside the prison walls as they monitor his con- political disenfranchisement, home foreclosures and cor- Agent Orange in Vietnam . 11 ditions, treatment and the damages caused to him and porate development projects. his family by the unjust sentence imposed upon him by Reverend Pinkney’s continuing unjust imprisonment H Editorials the Berrien County court system. is shining a spotlight on the power structure of Berrien Of guns and gold . 10 Former Congresswoman and current Green Party County. His illegal imprisonment stems from the fact Presidential candidate, Cynthia McKinney, visited Rev. that he poses a threat to the ruling-class objectives Pinkney last year during his court-ordered home confine- of the Whirlpool Corporation-backed Harbor Shores H Noticias En Español ment on a tether. McKinney continues to lend her sup- Community Redevelopment project, which plans to Dádiva a los ricos enciende la ira del pueblo . 12 port, along with that of many other activists from sur- destroy Jean Klock Park in Benton Harbor. rounding counties. After seizure of that public property, the HSCR intends Reverend Pinkney was picked up from his home by to transform it into a three-hole Jack Nicklaus Signature Berrien County authorities in December after statements Golf Course for private use. In no way will that benefit the he made were published in an article in the People’s African-American community. Tribune newspaper based in Chicago. Reverend Pinkney When the HSCR project was first proposed, Rev. quoted from the book of Deuteronomy in the Bible about Pinkney organized the Black Autonomy Network of what “God shall visit upon the iniquitous” as an expres- Community Organizations, a people’s movement of sion of his religious beliefs. resistance and protest. At the same time he continually Workers World According to the authorities in Berrien County, these revealed the names of those responsible for the pover- 55 West 17 Street statements supposedly violated the conditions of his ty, unemployment and adverse conditions of the poor New York, N.Y. 10011 parole and landed him in prison for 3 to 10 years. people of Benton Harbor as they struggled to meet their Phone: (212) 627-2994 In response to this unjust sentencing, his defense basic needs. Fax: (212) 675-7869 committee has broadened its scope by bringing in the The elite powers of Benton Harbor want to remain E-mail: [email protected] American Civil Liberties Union, which has agreed to nameless and faceless so they can continue with their Web: www.workers.org handle possible constitutional violations in his case.
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