Marco Grunther's Blog

This past weekend LEFTFORUM 2009 was held in New York city at Pace University. Intellectuals from all over the country, and some foreign ones too, held panels to discuss many economic, political and social issues. There were a considerable number of people who participated and I was one of them. My main interest is in economics and therefore I mostly attended panels regarding that topic and the present state of our economic ideology: capitalism. I heard many different opinions on what is going on, why it is going on and where we are directed in the future. Too much time, according to me, was spent trying to define the downturn (recession vs. depression) and if capitalism is alive or dead. Although those topics may be interesting debate statements, I think we should spend more time thinking how to organize ourselves toward one precise objective: nationalization of the banks. It would probably be temporary but fair to an American public that has poured so much money into a private shadow banking system. After the nationalization period is over and the American public has received back all of its money plus interest, then strong regulations should be created so that investment banks do not receive any type of support from structures like the FDIC (that should help commercial savings banks) and can’t become Too Big To Fail. But to do all of this there is a strong need for public involvement. Every day now, new organizations are born with the purpose of not letting everything roll back in place exactly how it was before the crisis. Left and right, moderates and liberals, republicans and democrats should all come tighter as citizens looking out for their best self interest. We need to let people know how this crisis happened and how we can prevent it. In the coming posts I will explain some of that plus comment on current news.

http://anewwayforward.org/demonstrations/