FacebookTwitterGoogle+RedditEmail

Punch in the Streets, But Not in the Suites

by LAURA FLANDERS

The G20 summit wrapped up in Pittsburgh Friday with pledges but little punch. Except in the streets.

On climate change, world leaders vowed “strong action” and on the economy, “balanced economic growth.” The summit endorsed granting more voting rights at the IMF and World Bank to ‘underrepresented’ countries like CHINA. With a billion people and the world’s second largest economy — China may budge up from having 3.6% of all votes.

Underrepresented booming countries may get a bigger voice in global finance. Nice. But under-represented people? Well there’s the rub.

Around 200 people were arrested during the two-day Pittsburgh summit. Heavy policing seems to be the only plan world leaders have come up with for shutting reality out.

Reality, for those in the streets, not the suites, of the world, is a whole new economy — way more than a downturn — and the prospect of long-term, possibly permanent, unemployment.

Read the papers, and the stats are all there. In the US, job seekers now outnumber job openings six to one. Official unemployment stands at 9.7 percent, its highest level in 26 years. If you’re a teenager, it’s over 25 percent. No reason there to shun protest for fear of ruining your job prospects, they’re grim and only getting grimmer. That’s if radicals like Paul Craig Roberts, a former officer of the Reagan Administration, are to be believed.

If measured according to the methodology used when he was Assistant Secretary of the Treasury, Roberts says “the unemployment rate today in the US is above 20%. Moreover, there is no obvious way of reducing it.”

Consumer spending — the engine that drove 70 % of the US economy and by extension much of the world’s — isn’t coming back. And that’s just the way it’s going to be, President Obama’s chief economic adviser Larry Summers told the BBC (my sister, actually) in Pittsburgh.

“The US can’t, shouldn’t and won’t continue to experience the consumption-led growth of the past few years.” said Summers. And the world — and we — should just adjust…

The message is pledge-on! Endorse “strong action” on climate and “balanced growth.” But all those poor people out of work? They’ll just have to adjust.

While banks are doling out cash by the millions to kill any new regulation of Wall St. (which clearly has its heart set on making another buck off all that poverty…) There is one part of the economy that seems actually to be getting stimulated: Policing. If ever civil society finds a voice and decides actually to wield it, they’ll be ready. How else to reign in reality, for lawd’s sake?

LAURA FLANDERS is the host of GRITtv, which broadcasts weekdays on satellite TV (Dish Network Ch. More…9415 Free Speech TV) on cable, public television and online at GRITtv.org and TheNation.com. Follow GRITtv or GritLaura on Twitter.com.

Laura Flanders is the host of GRITtv now seen on the new, news channel TeleSUR English – for a new perspective. 

More articles by:
July 28, 2016
Paul Street
Politician Speak at the DNC
Jeffrey St. Clair
Night of the Hollow Men: Notes From the Democratic Convention
Renee Parsons
Blame It on the Russians
Herbert Dyer, Jr.
Is it the Cops or the Cameras? Putting Police Brutality in Historical Context
Russell Mokhiber
Dems Dropping the N Word: When in Trouble, Blame Ralph
Howard Lisnoff
The Elephant in the Living Room
Pepe Escobar
The Real Secret of the South China Sea
Ramzy Baroud
Farewell to Yarmouk: A Palestinian Refugee’s Journey from Izmir to Greece
John Laforge
Wild Turkey with H-Bombs: Failed Coup Raise Calls for Denuclearization
Dave Lindorff
Moving Beyond the Sanders Campaign
Jill Richardson
There’s No Such Thing as a “Free Market”
Patrick Cockburn
Erdogan Moves Against the Gulen Movement in Turkey
Winslow Myers
Beyond Drift
Edward Martin - Mateo Pimentel
Who Are The Real Pariahs This Election?
Jan Oberg
The Clintons Celebrated, But Likely a Disaster for the Rest of the World
Johnny Gaunt
Brexit: the British Working Class has Just Yawned Awake
Mark Weisbrot
Attacking Trump for the Few Sensible Things He Says is Both Bad Politics and Bad Strategy
Thomas Knapp
Election 2016: Think Three’s a Crowd? Try 2,000
Corrine Fletcher
White Silence is Violence: How to be a White Accomplice
July 27, 2016
Richard Moser
The Party’s Over
M. G. Piety
Smoke and Mirrors in Philadelphia
Jeffrey St. Clair
The Humiliation Games: Notes on the Democratic Convention
Arun Gupta
Bernie Sanders’ Political Revolution Splinters Apart
John Eskow
The Loneliness of the American Leftist
Guillermo R. Gil
A Metaphoric Short Circuit: On Michelle Obama’s Speech at the DNC
Norman Pollack
Sanders, Our Tony Blair: A Defamation of Socialism
Claire Rater, Carol Spiegel and Jim Goodman
Consumers Can Stop the Overuse of Antibiotics on Factory Farms
Guy D. Nave
Make America Great Again?
Sam Husseini
Why Sarah Silverman is a Comedienne
Dave Lindorff
No Crooked Sociopaths in the White House
Dan Bacher
The Hired Gun: Jerry Brown Snags Bruce Babbitt as New Point Man For Delta Tunnels
Peter Lee
Trumputin! And the DNC Leak(s)
David Macaray
Interns Are Exploited and Discriminated Against
Brett Warnke
Storm Clouds Over Philly
Ann Garrison
Rwanda, the Clinton Dynasty, and the Case of Dr. Léopold Munyakazi
Chris Zinda
Snakes of Deseret
July 26, 2016
Andrew Levine
Pillory Hillary Now
Kshama Sawant
A Call to Action: Walk Out from the Democratic National Convention!
Russell Mokhiber
The Rabble Rise Together Against Bernie, Barney, Elizabeth and Hillary
Jeffrey St. Clair
Don’t Cry For Me, DNC: Notes From the Democratic Convention
Angie Beeman
Why Doesn’t Middle America Trust Hillary? She Thinks She’s Better Than Us and We Know It
Paul Street
An Update on the Hate…
Fran Shor
Beyond Trump vs Clinton
Ellen Brown
Japan’s “Helicopter Money” Play: Road to Hyperinflation or Cure for Debt Deflation?
Richard W. Behan
The Banana Republic of America: Democracy Be Damned
FacebookTwitterGoogle+RedditEmail