Click amount to donate direct to CounterPunch
  • $25
  • $50
  • $100
  • $500
  • $other
  • use PayPal
Support Our Annual Fund Drive! We only ask one time of year, but when we do, we mean it. Without your support we can’t continue to bring you the very best material, day-in and day-out. CounterPunch is one of the last common spaces on the Internet. Help make sure it stays that way.
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:

2016 Fund Drive
Smart. Fierce. Uncompromised. Support CounterPunch Now!

  • cp-store
  • donate paypal

CounterPunch Magazine

minimag-edit

September 27, 2016
Louisa Willcox
The Tribal Fight for Nature: From the Grizzly to the Black Snake of the Dakota Pipeline
Paul Street
The Roots are in the System: Charlotte and Beyond
Jeffrey St. Clair
Idiot Winds at Hofstra: Notes on the Not-So-Great Debate
Mark Harris
Clinton, Trump, and the Death of Idealism
Mike Whitney
Putin Ups the Ante: Ceasefire Sabotage Triggers Major Offensive in Aleppo
Anthony DiMaggio
The Debates as Democratic Façade: Voter “Rationality” in American Elections
Binoy Kampmark
Punishing the Punished: the Torments of Chelsea Manning
Paul Buhle
Why “Snowden” is Important (or How Kafka Foresaw the Juggernaut State)
Jack Rasmus
Hillary’s Ghosts
Brian Cloughley
Billions Down the Afghan Drain
Lawrence Davidson
True Believers and the U.S. Election
Matt Peppe
Taking a Knee: Resisting Enforced Patriotism
James McEnteer
Eugene, Oregon and the Rising Cost of Cool
Norman Pollack
The Great Debate: Proto-Fascism vs. the Real Thing
Michael Winship
The Tracks of John Boehner’s Tears
John Steppling
Fear Level Trump
Lawrence Wittner
Where Is That Wasteful Government Spending?
James Russell
Beyond Debate: Interview Styles of the Rich and Famous
September 26, 2016
Diana Johnstone
The Hillary Clinton Presidency has Already Begun as Lame Ducks Promote Her War
Gary Leupp
Hillary Clinton’s Campaign Against Russia
Dave Lindorff
Parking While Black: When Police Shoot as First Resort
Robert Crawford
The Political Rhetoric of Perpetual War
Howard Lisnoff
The Case of One Homeless Person
Michael Howard
The New York Times Endorses Hillary, Scorns the World
Russell Mokhiber
Wells Fargo and the Library of Congress’ National Book Festival
Chad Nelson
The Crime of Going Vegan: the Latest Attack on Angela Davis
Colin Todhunter
A System of Food Production for Human Need, Not Corporate Greed
Brian Cloughley
The United States Wants to Put Russia in a Corner
Guillermo R. Gil
The Clevenger Effect: Exposing Racism in Pro Sports
David Swanson
Turn the Pentagon into a Hospital
Ralph Nader
Are You Ready for Democracy?
Chris Martenson
Hell to Pay
Doug Johnson Hatlem
Debate Night: Undecided is Everything, Advantage Trump
Frank X Murphy
Power & Struggle: the Detroit Literacy Case
Chris Knight
The Tom and Noam Show: a Review of Tom Wolfe’s “The Kingdom of Speech”
Weekend Edition
September 23, 2016
Friday - Sunday
Andrew Levine
The Meaning of the Trump Surge
Jeffrey St. Clair
Roaming Charges: More Pricks Than Kicks
Mike Whitney
Oh, Say Can You See the Carnage? Why Stand for a Country That Can Gun You Down in Cold Blood?
Chris Welzenbach
The Diminution of Chris Hayes
Vincent Emanuele
The Riots Will Continue
Rob Urie
A Scam Too Far
Pepe Escobar
Les Deplorables
Patrick Cockburn
Airstrikes, Obfuscation and Propaganda in Syria
Timothy Braatz
The Quarterback and the Propaganda
Sheldon Richman
Obama Rewards Israel’s Bad Behavior
FacebookTwitterGoogle+RedditEmail