Capitalism – Freedom Toons http://freedomtoons.org/ Wed, 23 Nov 2022 02:18:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://freedomtoons.org/wp-content/uploads/2021/05/default.png Capitalism – Freedom Toons http://freedomtoons.org/ 32 32 George Soros is not dead in 2022 as fake obituaries resurface https://freedomtoons.org/george-soros-is-not-dead-in-2022-as-fake-obituaries-resurface/ Wed, 23 Nov 2022 02:18:14 +0000 https://freedomtoons.org/george-soros-is-not-dead-in-2022-as-fake-obituaries-resurface/ US financier George Soros is the latest victim of the infamous death hoax, as fake obituaries on Twitter have left people wondering if he is really dead. This is not the first time that rumors claim that the billionaire died. And, just like George, a number of other famous people have fallen victim to similar […]]]>

US financier George Soros is the latest victim of the infamous death hoax, as fake obituaries on Twitter have left people wondering if he is really dead.

This is not the first time that rumors claim that the billionaire died.

And, just like George, a number of other famous people have fallen victim to similar savage allegations that are unsupported by any evidence.

We can confirm that the financier is still alive in 2022.

Photo by FABRICE COFFRINI/AFP via Getty Images

George Soros is not dead

Confusion over George has swept Twitter and there’s more than one factor influencing it.

While we found fake obituaries being circulated on social media that claim the billionaire is dead, people are also discussing another fake George obituary that was accidentally published by Reuters in 2013.

However, many quickly realized it was another celebrity. death hoax which “happens more often than Christmas” after Twitter posts with the headline “BREAKING: According to media, George Soros died earlier today at the age of 92 in Hungary” surfaced.

The fake obituary in 2022 goes back years

Forbes reportssimilar confusion arose in 2013 when Reuters published a “premature” obituary of George.

The 1,000-plus-word article reportedly praised the investor in a fill-in-black paragraph that read: “George Soros, who died XXX at age XXX, was a predatory and extremely successful financier and investor, who paradoxically argued for years against the same kind of freewheeling capitalism that earned him billions.

The title also claimed that he died at the age of “XX”.

However, when Forbes contacted Geroge fund management adviser Michael Vachon for comment at the time, he denied the report while expressing empathy for his boss.

Reuters even issued an apology for the false report, saying“Reuters mistakenly published an early obituary of financier and philanthropist George Soros. A spokesperson for Soros said the New York-based financier is alive and well. Reuters regrets the error.

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The American financier is alive at the age of 92

George is alive and he also makes headlines for his business ventures.

Bloomberg reportshe has an estimated net worth of $8.5 billion as of November 22, 2022.

Apart from being known for his impeccable career in finance, George is famous for expressing his political leanings. He was a prominent supporter of former President Barack Obama during his campaigns in 2008 and 2012 and would have also given to Hillary Clinton and Joe Biden.

Additionally, he is the author of several books, including The Alchemy Finance, The Crisis of Global Capitalism, and What It Means, among others.

In other news, 27 inspirational World Cup quotes to share during Qatar 2022

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Conservative think tank report calls for congressional investigation into BLM organizations https://freedomtoons.org/conservative-think-tank-report-calls-for-congressional-investigation-into-blm-organizations/ Thu, 17 Nov 2022 05:53:23 +0000 https://freedomtoons.org/conservative-think-tank-report-calls-for-congressional-investigation-into-blm-organizations/ WASHINGTON—A New special report on Cultural Marxism urges Congress to hold hearings on Black Lives Matter (BLM) organizations. US political leaders shouldn’t shy away from investigating organizations with the words “Black Lives Matter” in their titles for fear of the “racist” label, said report authors Mike Gonzalez, an expert at the conservative think tank Heritage […]]]>

WASHINGTON—A New special report on Cultural Marxism urges Congress to hold hearings on Black Lives Matter (BLM) organizations.

US political leaders shouldn’t shy away from investigating organizations with the words “Black Lives Matter” in their titles for fear of the “racist” label, said report authors Mike Gonzalez, an expert at the conservative think tank Heritage Foundationand Katharine Gorka, national security expert and former Foundation researcher.

“Because [BLM organizations] have been the vehicle for introducing Cultural Marxism into the lives of all Americans, taking the threat posed by BLM organizations seriously is the most immediate and simple thing Americans can do to confront Marxism,” writes the report.

The authors define Cultural Marxism as a more sophisticated and nuanced version of Marxism led by American Marxists “under the guise of social justice.” Instead of pitting workers against capitalists, Cultural Marxists use race and gender to drive wedges between various racial groups and children and parents in order to destroy the nuclear family in America, the authors said.

The report argues that critical race theory – a framework that views America as systematically racist – in education, the US war on climate change, and environmental, social and corporate governance (ESG) rules of American companies are all part of Marxist strategies.

On a Monday discussion About this report to the Foundation, Gonzalez told the audience that it is legal to be a communist in the United States, but that people should be aware of the Marxist beliefs and intentions of BLM leaders.

According to the US Crisis Monitor, 633 riots took place in 2020 after the death of George Floyd, Gonzalez said in a previous Epoch Times interview. The Insurance Information Institute noted that these riots were the costliest civil unrest in United States history, with insured losses estimated at over $2 billion.

“I think the country should know if you [leaders of BLM organizations] sparked this level of violence and had these riots because you believe in these ideas,” Gonzalez said at Monday’s event.

Leaders of the Black Lives Matter Global Network Foundation (BLMGNF), an umbrella organization of the BLM movement, had openly stated that they were “trained marxistsand they should be investigated by Congress, according to the authors of the special report.

Alicia Garza, one of the founders of BLMGNF, said at a Left Forum convention, “It is not possible for a world to emerge where black lives matter if it is under capitalism. And it is not possible to abolish capitalism without fighting national oppression and gender oppression. Left Forum is a Marxist organization.

Sebastian Gorka with his wife, Katharine, at a parent rally outside Luther Jackson Middle School in Falls Church, Va., on June 16, 2022. (Terri Wu/The Epoch Times)

Sebastian Gorka, a former strategist for President Donald Trump and host of the “America First” radio show, called the newspaper “crucial” in meeting a new Marxist challenge different from that of the Cold War.

“The challenge has morphed so much from an external kinetic military challenge to an internal political challenge. And [BLM activists] have rights, but they undermine the Constitution with those rights,” he added.

The Epoch Times has contacted BLMGNF for comment.

Terri Wu

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Terri Wu is a Washington-based freelance writer for The Epoch Times, covering education and China-related issues. Send tips to terri.wu@epochtimes.com.

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What do Elon Musk and Jack Welch have in common? Well, it’s not their ability to create shareholder value. https://freedomtoons.org/what-do-elon-musk-and-jack-welch-have-in-common-well-its-not-their-ability-to-create-shareholder-value/ Sun, 13 Nov 2022 06:05:10 +0000 https://freedomtoons.org/what-do-elon-musk-and-jack-welch-have-in-common-well-its-not-their-ability-to-create-shareholder-value/ Elon Musk’s first week at the helm of Twitter mirrors Jack Welch’s approach to capitalism. Musk’s approach to cutting executives and employees is a knee-jerk reaction to cutting costs. Such tactics have not created lasting wealth for GE, and are even less likely to do so now for Twitter. TOPSHOT – This video capture taken […]]]>

Elon Musk’s first week at the helm of Twitter mirrors Jack Welch’s approach to capitalism. Musk’s approach to cutting executives and employees is a knee-jerk reaction to cutting costs. Such tactics have not created lasting wealth for GE, and are even less likely to do so now for Twitter.

In his first week at the helm of Twitter, Elon Musk took a page from a playbook once used by executives who relied on cut-and-burn tactics to create shareholder value. But, today, mentalities are changing and employees are recognized as the basis of value creation.

It remains to be seen whether Twitter will survive the severe cuts in its workforce, but the evidence is weighing against it.

Musk has already dismissed key senior staff and his board. And when he fired half of Twitter’s roughly 7,500 employees, he apparently asked management to identify low-performing and high-performing workers. He then fired underperforming employees by harshly excluding them from their business accounts.

A week after taking office, Musk was quoted like telling remaining employees, “If you can’t do hardcore, then Twitter isn’t for you.” He warned of bankruptcy and ordered staff back to the office, despite current widespread workplace trends favoring remote working.

These heavy-handed tactics were a game-changer for Twitter, including the careers site championed a “culture that is supportive, respectful and has a pretty cool vibe.”

Jack Welch’s Playbook

Musk’s approach recalls an era of corporate governance and leadership that has long fallen out of favor. They include the approaches taken by the CEOs of General Electric, Coca-Cola, Enron and Walmart. At the time, CEOs were viewed as corporate heroes who sought to create value by buying and selling businesses and then cutting whatever costs they could. Employees were not considered people, they were simply capital and part of the cost equation.

Jack Welch, the former CEO of General Electric, is often held up as an example of this approach.

In his 2001 book Jack: straight out of the guts, Welch describes how he created shareholder value by eliminating his workforce. He proudly writes of his approach to sorting employees into three categories: the top 20% are productive, passionate and fun. The “vital 70%” are essential to operations. It’s the bottom 10% that’s the problem, he says. They are enervators, procrastinators and time wasters. To be successful, Welch argued, managers must identify and dismiss such poor performance.

There is no doubt that Welch has created value for shareholders. During his tenure as CEO, GE’s market capitalization grew from $12 billion in 1981 to $410 billion in 2001. But it would be a mistake to believe that this success is due to its approach to human resources. Rather, it was through corporate raids – buying, breaking up and often selling businesses.

GE’s market capitalization grew because of the companies it acquired, not the value it created by creating new products and services, which forces companies to invest in their people. GE was simply an earlier form of hedge fund.

Welch’s approach has drawn its fair share of criticism. Last year, Paul Polman, the former CEO of Unilever, described Welch as “the most destructive shareholder value machine that has ever existed on earth. And, after Welch’s retirement, no other CEO found a way to build wealth on the machine Welch built.

David Gelles denounces Welch’s tactics in his book The man who broke capitalism: How Jack Welch gutted the Heartland and crushed the souls of corporate America – and how to undo his legacy. In a June 2022 article for the New York TimesGelles directly compares Welch to Musk: “When Elon Musk brokers his $44 billion deal to buy Twitter using the poo emoji — that’s the world Jack Welch helped create.”

Doubtful capitalism

Both Musk and Welch embody a dubious type of capitalism that has long been shunned – treating employees as capital or costs, rather than the foundation of value creation. This is pre-2000s capitalism, characterized by the Enron accounting scandal, the British Petroleum oil spill and the global financial crisis of 2008. It was a period of short-term thinking embodied in the acquisition , disposal and downsizing of companies.

In a study I conducted with Shoonchul Shin and Juyoung Lee, we found that before the 2000s, CEOs were less likely to be fired when they downsized in response to poor financial performance. That relationship faded around the turn of the century, however, when shareholders began to expect CEOs to invest in employees to help them build their business, not fire them just to cut costs.

And it’s for good reasons. As Mark Murphy reports in his Forbes columnlaying off employees can erode productivity, quality and the ability to recruit.

A study of Jody Hofer Gittel and his colleagues shows that after the September 11, 2001 attacks on the World Trade Center, the American airlines that recovered the fastest were those that did not lay off because they managed to maintain employee morale after the crisis.

The future of Twitter and old-school capitalism is bleak

Even when this article is published, Twitter news changes from minute to minute. Musk’s cuts have been deep and the negative effects are already evident. Several Twitters frames resigned in the key areas of privacy, compliance and security. Major advertisers have suspended ad spending amid the chaos, leading to what Musk said was a “massive drop in revenue.”

This result was predictable. Mr. Musk should have learned the follies of Mr. Welch’s slash and burn tactics – but it appears not.

As other tech companies face similar decisions to deal with major financial disappointments, the question will be whether CEOs have the sensitivity to recognize that the world has changed. Whether or not they survive may very well depend on whether they embrace a fairer form of capitalism.

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Reclaiming Libertarianism, with Andrew Koppelman https://freedomtoons.org/reclaiming-libertarianism-with-andrew-koppelman/ Wed, 09 Nov 2022 18:49:08 +0000 https://freedomtoons.org/reclaiming-libertarianism-with-andrew-koppelman/ A few years ago in Obion County, Tennessee, a homeowner called 911 to report that a trash fire in his yard had gotten out of control. The operator told him, however, that because he forgot to pay his $75 annual dues, the newly privatized city fire department would not help him. Firefighters eventually showed up […]]]>

A few years ago in Obion County, Tennessee, a homeowner called 911 to report that a trash fire in his yard had gotten out of control. The operator told him, however, that because he forgot to pay his $75 annual dues, the newly privatized city fire department would not help him. Firefighters eventually showed up to stop the fire from spreading to a paid neighbor’s property, but they let the fire consume the debtor’s home.

In his new book Burn down the house, Andrew Koppelman, professor of law at Northwestern University, considers that this episode reflects the form of libertarianism that has been popular with much of the modern right, which manifests itself in a callous indifference to the misfortunes of others. But Koppelman sees in it a corrupted form of the libertarianism described by one of its greatest exponents of the 20th century, the economist Friedrich Hayek. Although Hayekian libertarianism shares the right’s faith in capitalism and its distrust of central economic planning, it also shares much of the left’s concern for the welfare of the poorest members of society. society and accepts significant government action. In fact, in 1960, Hayek proposed a health care plan that anticipated the general idea of ​​the Affordable Care Act.

According to Koppelman, libertarianism as a right-wing phenomenon owes its reinterpretation by greedy interests and extremist thinkers like Murray Rothbard, Robert Nozick and Ayn Rand, who oppose almost everything the government does. Rothbard, in fact, “pushes the libertarians’ hatred of state oppression to its maximum. He calls for a world with no government at all, in which the market rules everything. Even police and legal services should be offered by competing contractors.

In this podcast discussion, Andrew Koppelman traces how Hayek’s moderate, pro-market libertarianism was hijacked in the service of right-wing extremism, like Charles Koch’s climate change denial agenda. It calls for a recovery of the original Hayekian vision in a way that can bring about more robust capitalism and more stable and inclusive societies.

Note: The transcript of this episode of The Vital Center will be posted here by 11/14.

Photo credit: iStock

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“The system” and capitalism are the only ways to save the planet, Greta https://freedomtoons.org/the-system-and-capitalism-are-the-only-ways-to-save-the-planet-greta/ Sat, 05 Nov 2022 20:32:00 +0000 https://freedomtoons.org/the-system-and-capitalism-are-the-only-ways-to-save-the-planet-greta/ I met a well-known Swedish folk musician the other night, who said she had met Greta Thunberg, a pale teenage harbinger of the apocalypse, a few times. I asked how she was and was surprised to learn that, according to the folk musician, Thunberg is “very nice.” In a way, it was sad news, as […]]]>

I met a well-known Swedish folk musician the other night, who said she had met Greta Thunberg, a pale teenage harbinger of the apocalypse, a few times. I asked how she was and was surprised to learn that, according to the folk musician, Thunberg is “very nice.”

In a way, it was sad news, as it brought to light something seriously wrong with Thunberg, the better angels of his nature being pulled in all the wrong directions by fanaticism and paranoia.

Its environmental campaign has always been imbued with an unsettling end-times quality mixed with a 17th-century-style puritanism befitting the extreme disorder of our times. But last week, Thunberg entered even more sinister new groundin which her true political colors – and those of the movement for which she is Joan of Arc – have been made crystal clear.

Speaking in London at the launch of The climate book, her compilation of essays on the climate “catastrophe”, written by a variety of scientists, historians, philosophers and “indigenous leaders”, as well as the famous anti-capitalist economist Thomas Piketty, Thunberg embarked on the anti-Western plot. She’s self-proclaimed and hailed as a great lifesaver, but her words were threatening and full of ill will to, well, everyone who lives in what she scathingly called “the so-called global north.” .

“We’re never going back to normal again because ‘normal’ was already a crisis,” she said, to which one might wonder what period, if any, Thunberg considers crisis-free. It is assumed that she imagines an era before advanced capitalism, therefore before the 19th century. But before the 19th century, there was slavery and mass death in the “global north” through disease and war. Life was mean and brutal and short, but then again, that’s how green fanatics like it because when we’re dead, we’re the most eco-friendly. If they really loved life, they might, as American author Michael Shellenberger has pointed out, be more interested in the fact that “the whole capitalist system” has increased the average human life expectancy from 30 at 70 years old.

“What we call normal is an extreme system built on the exploitation of people and the planet,” she continued. “It is a system defined by colonialism, imperialism, oppression and genocide by the global north to accumulate wealth that still shapes our current world order.”

Ah: “the world order”. Double ahh: “the system”. What cannot be defined as the result of the harmful functioning of the “system”?

Unfortunately, it was only a matter of time before Thunberg fell into the muddled but seductive lines of thought shared by many who worship her, that the climate crisis “has its roots in a racist and oppressive extractivism that exploits both people and the planet.” maximize short-term profits for the few”.

Of course, none of this makes sense – you can tie almost anything to almost anything else if you want, and it’s equally absurd to make an amoral, complex system , extremely dynamic and never pure like bogeyman capitalism. whose strings are pulled by a few “few”.

This kind of language should seriously concern us. It’s unverifiable, it’s conspiratorial and it has authoritarian tendencies. The climate disappears entirely from view, except as an unassailable gateway to politics. It should also set off alarm bells to hear the duck of “benefits” for a “bit” dark. Such talk has often ended up being the model for murderous anti-Semitism. I doubt Thunberg explicitly goes down this path, or even wants to, but the fact that she’s not aware of what she sounds like when she talks like that is unsettling.

This paranoid anti-profitism is shared by Extinction Rebellion, Just Stop Oil, Insulate Britain and others, but it has nothing to do with “science”, or the planet, and certainly not with “life”, as they claim it. Rather, it is the overthrow of the system – which happens, in Europe and the Anglosphere, to be democracy – that, led by Thunberg, they all want.

“There is a lot of [things we can do], but as we do those things that we can do in our current system, we need to realize that we need system-wide transformation,” the child prophet said. What could that mean? Extinction Rebellion gives us a pretty clear direction: control of every spasm of human consumption, with a parliamentary government subordinate to the virtue police. Indeed, it is a question of reorganizing society around ultra-bureaucratic citizens’ assemblies, unelected groups that will ensure the “democratic” deliverance from the end of capitalism and the “system”. This has grim historical echoes: reminding us of revolutionary situations in which parliaments are overtaken by extra-political bodies, aka the mob.

Then there’s the frightening messianism: she sincerely seems to think that she and her followers are working alone to save “the future of humanity and the future of our civilization.” I would be more inclined to believe that “the future of humanity” hinges on preventing Putins and Xi Jinping from gaining the upper hand than on how quickly we give up central heating.

If climate scientists really cared about climate and life, as they say, they would be looking to the market – not its overthrow – as the provider of the best, fastest and most sustainable solutions. Electric cars, electric planes, passive houses: everything that will allow people to continue to live as they should in the 21st century, while degrading the environment less, will go through the market.

Snarky anti-capitalism, which blames everything on elite capture, has nothing to offer the planet – but the greens don’t care, because they’re more interested in overthrowing “the system” than climate.

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Bank of America CEO does not foresee deep recession https://freedomtoons.org/bank-of-america-ceo-does-not-foresee-deep-recession/ Thu, 03 Nov 2022 11:09:00 +0000 https://freedomtoons.org/bank-of-america-ceo-does-not-foresee-deep-recession/ For the fourth consecutive time, the Federal Reserve on Wednesday raised interest rates an additional 0.75% in an attempt to bring inflation down to 2% over time. Although some economists have predicts a deep recession will take place, Bank of America CEO Brian Moynihan has a different opinion. A recession next year “nearly has to […]]]>

For the fourth consecutive time, the Federal Reserve on Wednesday raised interest rates an additional 0.75% in an attempt to bring inflation down to 2% over time. Although some economists have predicts a deep recession will take place, Bank of America CEO Brian Moynihan has a different opinion.

A recession next year “nearly has to happen because rates will slow housing, cars down,” Moynihan said at the Fortunes annual CEO Initiative Event Wednesday in Palm Beach. “But if you look at the same economists, they’re predicting that unemployment won’t be well above five [percent],” he said. “So it’s hard to believe that you can have a deep recession while people are working,” he added. “That’s the debate.” And Moynihan pointed out that consumers “If you look at customer data through October 24, customers spent 8.5% more than last year in those three weeks,” he said.

In a discussion with Fortune CEO Alan Murray on a more human-centric approach to capitalism that considers the needs of all stakeholders, Moynihan, who is also chairman of the World Economic Forum’s International Business Council, highlighted the Bank of America’s commitment to sustainability. He has worked with the World Economic Forum and the Sustainable Markets Initiative to create a standardized set of stakeholder metrics. And Moynihan has made it his mission to persuade businesses to adopt them. He believes profit and purpose are not mutually exclusive.

“The world has told us what it expects of all of us,” he said. “It’s the [UN] Sustainable Development Goals. Today, 197 countries said it was a good development. If we don’t conduct good development with capitalism, it won’t happen. And therefore, whether or not capitalism is the right system is in question, Moynihan said. “We need to simplify what it means to be successful,” he said. “You need metrics so society can see we’re making progress.”

“Ultimately, we’re creating record earnings and record purpose in our business,” Moynihan said. He continued, “There is a business attached to this. The mark is the highest it has ever been. The company has the highest number of employees and turnover is at its lowest, he said.

Bank of America Chief Financial Officer Alastair Borthwick said during the company’s recent earnings call for the third quarter of 2022 that employee headcount for the quarter increased by 3,500, including sales, specialists and technology professionals. “We continue to invest steadily in our human, technology, marketing and financial resources,” Borthwick said on the call.

Bank of America reported an increase in net income 8% to $24.5 billion for the quarter, exceeding estimates. Net income fell to $7.1 billion from $7.7 billion in the same period last year as profits fell in the wealth management and global banking segments. Investment banking revenue fell 46% in the quarter, but less than the 47% decline analysts had expected. Borthwick recently told Bloomberg that “at this stage” the bank does not plan to reduce the number of employees in the unit.

When it comes to ESG investing and sustainability, there have been some repression the caller “woke up capitalismand critics say CEOs of banks like Moynihan should just stick to business. “What do you say to these people? Murray asked him. “When you run a large financial institution, with a team, and you only pass on capitalism, [for someone to ask] “Are you a capitalist? What else could we be? said Moynihan. Driving stakeholder capitalism is about aligning “capitalism with what society expects of us,” he said.


Until tomorrow.

Sheryl Estrada
sheryl.estrada@fortune.com

Big deal

Morgan Stanley’s E-Trade has released data from its Monthly Sector Rotation Survey. The top three sectors in September and October were consumer discretionary (non-essential goods and services, such as cars and entertainment), utilities and communication services. The results are based on the trading platform’s client notional net percentage buy/sell behavior for the stocks that make up the S&P 500 sectors. All three sectors rose between September and October, with utilities rising from 2.74% to 8.67%, according to the report.

Courtesy of Morgan Stanley E-Commerce

Go further

“As Amazon’s value falls below $1 trillion, this chart shows just how far the biggest tech heavyweights have fallen,” said one. New Fortune reportexplains how “each member of the former Trillion Dollar Club dropped at least half a trillion dollars,” writes Shawn Tully.

Ranking

Jim Benson was appointed Chief Financial Officer of Dynatrace (NYSE: DT), a software intelligence company, beginning Nov. 15. Benson will succeed Kevin Burns, who announced in May his intention to leave Dynatrace by the end of the year. Benson brings more than 30 years of experience to the role. He most recently served as executive vice president and chief financial officer at Akamai Technologies, a global leader in cloud services and cybersecurity. Prior to joining Akamai, he spent 20 years at Hewlett Packard Company in various finance leadership positions.

Andre Lazare was appointed Chief Financial Officer of Validity, a provider of data management and email marketing solutions. Lazarus will leverage his background in finance and investor relations to move the company into its next stage of growth. Previously, he served as CFO at several companies including Electric, Pilot Freight Services and BAE Systems Applied Intelligence.

Understood

“Even if, as some forecasters expect, US inflation peaks in the first half of 2023 and the Federal Reserve may slow or even halt the pace of rate hikes, the US dollar will still have a monetary tailwind to support it. .”

—Former Federal Reserve Chairman Alan Greenspan, now a senior economic adviser at Advisors Capital Management, written in a comment dated Wednesday, Fortune reported.

This is the web version of Daily CFO, a newsletter about the trends and people shaping corporate finance. Sign up to receive it for free in your inbox.

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We will ensure a fair business environment and end capital concentration: Rahul Gandhi https://freedomtoons.org/we-will-ensure-a-fair-business-environment-and-end-capital-concentration-rahul-gandhi/ Mon, 31 Oct 2022 11:06:51 +0000 https://freedomtoons.org/we-will-ensure-a-fair-business-environment-and-end-capital-concentration-rahul-gandhi/ Congress leader Rahul Gandhi has alleged that the BJP government is damaging the country’s institutions and promoting crony capitalism to favor a few capitalists. He assured them that if Congress returned to power, it would ensure a fair trading environment and that money would not be concentrated in a few hands. “A lot of damage […]]]>

Congress leader Rahul Gandhi has alleged that the BJP government is damaging the country’s institutions and promoting crony capitalism to favor a few capitalists. He assured them that if Congress returned to power, it would ensure a fair trading environment and that money would not be concentrated in a few hands.

“A lot of damage has been done to the institutional framework of our country. There was a systematic attack on different institutions. The press is controlled, pressured and threatened,” he said.

Speaking to reporters in Kothur, near here, on Monday as part of his Bharat Jodo Yatra, he said the media was not the only institution under attack. The judiciary and bureaucracy have also been attacked. “It is extremely damaging for the country. When the Congress party returns to power, we will ensure that these institutions are once again freed from the grip of the RSS and that a certain independence is maintained in these institutions,” he said. he declared.

Blocked competition

The Congress leader alleged that small and medium-sized businesses and the job creation structure of this country were being destroyed. “Today India is unable to produce jobs because there is a massive concentration of power and crony capitalism,” he criticized.

The BJP government in the Center and the TRS government here in Telangana favor two or three businessmen by eliminating other competitors and creating monopoly industry after industry.

“This concentration harms the potential of companies and businesses. Their potential as companies that are not part of crony capitalism is dashed. We will certainly ensure that the business environment is fair and money is not concentrated as it is now,” he said.

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How Priya Dadlani uses her grief work to fight capitalism https://freedomtoons.org/how-priya-dadlani-uses-her-grief-work-to-fight-capitalism/ Fri, 28 Oct 2022 10:43:26 +0000 https://freedomtoons.org/how-priya-dadlani-uses-her-grief-work-to-fight-capitalism/ Priya Dadlani, Indo-Caribbean cultural worker, community organizer and founder of SPICYlost her beloved grandmother Sarojini Janki Fordon on November 11, 2021. Shortly after her passing, Dadlani took instagram to write: “My first thought, when I received the call about her death, was where is she now? Where is his voice, his warmth, his laughter, his […]]]>

Priya Dadlani, Indo-Caribbean cultural worker, community organizer and founder of SPICYlost her beloved grandmother Sarojini Janki Fordon on November 11, 2021. Shortly after her passing, Dadlani took instagram to write: “My first thought, when I received the call about her death, was where is she now? Where is his voice, his warmth, his laughter, his complicit gaze, his essence? I am gradually becoming aware of the evidence, she continues, in me, and in all those who were lucky enough to know her. His legacy will live on the way we love.

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Dadlani’s message was received with immense fondness online – a reminder that so many of us have experienced pain, are currently grieving or will be grieving in the future. “Grief is all the love that cannot be expressed because the person, place, or thing we mourn is no longer with us in physical form,” Dadlani explains. “It goes beyond death, which we traditionally associate with grief. We experience grief for a number of things, from rejections to transitions.

Dadlani uses grief as a teacher and invites others to do the same by facilitating pain workshops several times a year. In these classes, she asks participants to keep a journal at the following prompts: How did this person, place or experience you mourn make you? What form did they take? What did they share? In what ways have you created a comfortable space for your grief? In what ways did you banish him to the periphery? When you create a home for your grief, what does that look like?

Dadlani aims to help people navigate their relationship with their grief and what is required of them to maintain that relationship in a way that feels safe and healthy. She inspires workshop participants to reach deeper into themselves and connect through storytelling, crying and movement. Everyone can be at different stages of their grief, but they find ease and transformation in each other’s experiences, feelings, and humanity.

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From BLM to Gen U: How the Spirit of Uprising Lingers in Today’s Labor Movement https://freedomtoons.org/from-blm-to-gen-u-how-the-spirit-of-uprising-lingers-in-todays-labor-movement/ Sat, 22 Oct 2022 18:00:07 +0000 https://freedomtoons.org/from-blm-to-gen-u-how-the-spirit-of-uprising-lingers-in-todays-labor-movement/ The United States is witnessing the phenomenon of Generation U. This generation is an expression of the changing consciousness of today’s young workers – workers who embrace socialist ideas, support unions and challenge exploitation either by quitting their jobs in large numbers, or by challenging corporate giants like Amazon and Starbucks directly in labor campaigns. […]]]>

The United States is witnessing the phenomenon of Generation U. This generation is an expression of the changing consciousness of today’s young workers – workers who embrace socialist ideas, support unions and challenge exploitation either by quitting their jobs in large numbers, or by challenging corporate giants like Amazon and Starbucks directly in labor campaigns.

This dynamic moment of high labor activism is all about the struggle for black liberation within the Black Lives Matter (BLM) movement, where we take to the streets or fight in our workplaces for a world where black lives account, what in this racist society they do. The militancy we see today is a continuation of the militancy we saw in the multiracial BLM Uprising 2020 which exploded due to the brutal police killing of George Floyd – one of the biggest uprisings in US history that has sparked international protests.

The powerful connection between the BLM uprising of 2020 and the current moment characterized by Generation U shows how the fight against oppression and exploitation are intertwined, and that capitalism must be destroyed to destroy racism.

What caused the uprising

The 2020 BLM uprising was sparked by mobilizations for democratic demands against police killings and violence against black people. This uprising has occurred against the backdrop of the contradictions of capitalism exacerbated by Covid, which has disproportionately affected black people. Black people were more likely to test positive for Covid and were more likely to die from it. In Milwaukee, at the start of the pandemic, black people made up 81% of Covid deaths when they made up only 26% of population. This overrepresentation of black mortality stems from the discrimination that keeps black community hospitals underfunded and housing segregation, and the economic disparity that has left the homeless population – which is more vulnerable to disease – 40 % Black.

Black people were also often the “essential” workers forced to put themselves at risk to work in places like supermarkets and Amazon warehouses without proper PPE or sanitation of their workplaces. Indeed, the capitalists wanted to continue to make profits by forcing the most precarious sectors of society to continue working. The capitalists too refused to pay for equipment and sanitation required by workers.

Moreover, in 2020, black people faced a higher layoff rate than white workers: 17.8% versus 15.5%, respectively. During the recovery period, black workers also experienced the slowest work recovery.

The economic desperation and human toll brought by the misery of capitalist society has once again hit black people hardest, thanks to the inherently racist system of oppression and exploitation that profits from our pain, loss and our corpses. This system demands precariousness for black workers and a police force to maintain this disparity by targeting black people for brutalization or imprisonment.

This structural configuration of capitalism that caused the deaths of black workers at Amazon facilities also drove police to murder George Floyd. When Floyd was killed, it was the last heartbreak of this system that people were willing to endure. So they took to the streets across the country and around the world to challenge him.

Where did the activism go?

Both political parties saw – and feared – the power inspired in the working class by the struggle for black liberation. While Republicans openly called for a crackdown on the movement, the Democratic Party sought to both suppress and co-opt it. In an act of cringe, Democrats donned Kente cloth and took performative photos of themselves kneeling to express their mock solidarity with the movement. Meanwhile, off camera, they were calling in the National Guard to quell protesters.

The movement’s bureaucratic tendencies also played a major role in its co-option. In December 2020, ten BLM chapters filed a statement calling for greater transparency and more democratic decision-making for the National Network. This was largely due to the Global Network leadership making decisions that were not representative of the movement; namely, this leadership’s support for the Democratic Party and its alliance with the capitalists. As Darrin Johnsonmember of the Black Power Collective, an offshoot of the BLM that broke away from the global network, explains:

The issue that concerns us the most is the relationship between the Global Network and the Democratic Party. This is hypocritical at best, as the Democratic Party has historically rejected and ignored BLM demands and made it clear that it is pro-police, pro-jail and committed to capitalism… It is a party that is a threat both here and internationally. To ally with them is to ally against oneself.

This leadership, in addition to making financial decisions without communicating with the grassroots, has also partnered with capitalists like One United Bank and Levi Jeans who profit and exploit black people every day.

In the end, these dishonest expressions of solidarity and NGO betrayal of the movement co-opted the movement and led people off the streets and into the polls to elect Joe Biden and others – politicians who are currently bloating the budgets of the police to suppress the next uprising.

But conditions of black oppression and exploitation persist even with the movement off the streets. So, too, is activism in a new form. The anger and will to fight of the black vanguard and uprising participants has bled into today’s Gen U labor activism. black workers, during the pandemic.

The original organization against Amazon at Bessemer warehouse in Alabama was in line with BLM in that it linked the struggle for black liberation with the improvement of working conditions, especially for black workers who are among the most precarious. Many workers at Amazon’s mostly black factory took part in the 2020 protests and then contacted the union because of the grueling nature of their jobs.

The founding of the Amazon Labor Union (ALU) was a continuation of the effort begun at Bessemer. The victory of the workers Staten Island JFK8 Facilitywas a powerful demonstration that workers could challenge the most powerful capitalists and win, as well change the landscape of work organization. This effort was led by Chris Smalls who was influenced by the tradition of black labor organizing and the BLM movement.

BLM’s influence can be seen in how the fight for greater rights for black workers has been central to the organizing effort, as it began with an exit from the dangerous working conditions faced by a predominantly black workforce due to Covid. This is also seen in the anti-police “Fuck 12” chants, reminiscent of BLM protests, heard at ALU rallies and even the 2022 Labor Day march demanded by the ALU.

Many labor activists in the Starbucks union wave also come from the BLM movement and see the fight against discrimination as the fight for better working conditions. These harsh conditions impact a large workforce, half of which is made up of people of color. Partly because of BLM’s ideological and political influence, Starbucks workers like Casey say “You can’t be pro-LGBTQ, pro-Black Lives Matter, pro all those things and be anti-union.”

Even the teachers strike which happened this year in the birthplace of the 2020 uprising, Minneapolis, began because of black oppression. When the union proposed a Memorandum of Understanding (MOA) to provide layoff protections to educators of color, the city rejected it and the strike began. The strike’s central demands were anti-racist, calling for greater hiring and retention of educators of color and higher wages for a workforce made up mostly of people of color making poverty wages.

An independent party to fight against exploitation and oppression

Many leftists overlook the importance of the black liberation struggle within the American labor movement and the struggle for socialism. However, black liberation has always been a catalyst for sparking greater militancy within the American working class and even the international working class. It also served to inspire the working class to see themselves more as workers by understanding that liberation requires challenging the state and the bosses. For example, the Dodge Revolutionary Union Movement (DRUM) was influenced by the Black Power movement and saw the labor movement as a strategic place to fight both the social oppression they faced and the capitalist exploitation suffered by all. workers, especially black workers. These movements encouraged the multiracial working class to use its own independent methods and strategic position to stop production in order to fight for black liberation from the capitalist system.

In order for a socialist party independent of the bourgeoisie to lead the working class towards revolution, it must commit itself deeply to the black struggle, understand the influence of the black struggle on the class struggle and have a socialist program. revolutionary towards black liberation. To combine the dynamism of social movements with the strategic advantage of working-class struggle to end capitalism — the greatest material force of racism.

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Insurance industry avoids coal, oil and gas projects https://freedomtoons.org/insurance-industry-avoids-coal-oil-and-gas-projects/ Wed, 19 Oct 2022 09:29:00 +0000 https://freedomtoons.org/insurance-industry-avoids-coal-oil-and-gas-projects/ Insurance companies that have long said they would cover anything, at the right price, are increasingly excluding fossil fuel projects because of climate change – to cheers from environmental activists. More than a dozen groups that track insurers’ policies on high-emission activities say the industry is turning its back on oil, gas and coal. The […]]]>

Insurance companies that have long said they would cover anything, at the right price, are increasingly excluding fossil fuel projects because of climate change – to cheers from environmental activists.

More than a dozen groups that track insurers’ policies on high-emission activities say the industry is turning its back on oil, gas and coal.

The alliance, Insure Our Future, said on Wednesday that 62% of reinsurance companies – which help other insurers spread their risk – plan to stop covering coal projects, while 38% now exclude certain oil projects. and natural gas.

In part, investors are calling for it. But insurers have also begun to make the connection between fossil fuel infrastructure, such as mines and pipelines, and the impact of greenhouse gas emissions on other parts of their business.

This includes extreme weather events such as hurricanes, which are expected to become more powerful with global warming. Hurricane Ian recently caused tens of billions of dollars in damage to the United States.

Earlier this month, Munich Re, one of the world’s largest reinsurers, said it stop supporting new oil and gas fields from next April.

“Insurance is the Achilles’ heel of the fossil fuel industry and has the power to accelerate the transition to clean energy,” said Peter Bosshard, the report’s author.

Indeed, projects that require large amounts of capital are unlikely to attract investment if they cannot obtain insurance to cover potentially costly accidents.

Insure Our Future said its annual scorecard of 30 companies ranked Allianz, AXA and Axis Capital among the best for their coal exit policies, while Aviva, Hannover Re and Munich Re came out on top for oil and natural gas.

In contrast, some insurers such as Berkshire Hathaway, Starr and Everest Re have adopted few or no restrictions on coal, oil or gas projects, he said. The alliance also criticized Lloyd’s of London for announcing plans two years ago to end coal cover but then declaring it optional.

Many of the insurers reviewed have introduced their restrictions in the past year, although the exact policies differ significantly, according to the report.

Some countries have meanwhile proposed applying the idea of ​​insurance to help countries facing massive costs from climate change.

Germany, which chairs the Group of Seven major economies, and the V20 alliance of vulnerable nations, chaired by Ghana, agreed last week to promote the idea of ​​a “global shield” against climate risks.

The proposal, which will be discussed at next month’s UN climate summit in Egypt, responds in part to demands from poor countries for increased financial assistance to deal with loss and damage from rising global temperatures.

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