From:   Snafu <snafu@thething.it>
Sent time:   Sunday, October 16, 2011 8:20:48 PM
To:   september17@googlegroups.com
Subject:   Re: [september17discuss] MoveOn Execs Now Official Spokespeople For OWS, According to MSM Execs
 

You are right Doug, and I thank you for this observation. It was not my

intention inserting any reference to the obsolescence of past struggle

in the declaration. I was just noting that most statements produced and

approved by the GA so far are focusing on either corporate power or

(now) the two-party system, whereas none of the two are to me the

hegemonic forces in contemporary capitalism.

 

  Financial capitalism is a tough beast to fight because it is at the

same time abstract and diffused at a molecular level. Yet if

Standard&Poor's downgrading of the US debt has such massive effects, it

means that we have entered a new phase, one in which the power of rating

agencies stands above that of national governments. Hence my hesitation

on supporting statements that keep focusing on the traditional enemies

and seem to be oblivious to the new forms of sovereignty that are

emerging. The more you claim that the state is useless and powerless the

more you will have to confront financial power directly. But who will

regulate the stock market as the system keeps melting, the GA?

 

On 10/16/11 7:08 PM, Doug Singsen wrote:

> It's not true that market volatility is mainly the result of the

> automation of financial transactions. Markets were highly volatile

> long before automation. The biggest financial collapse in history took

> place before the invention of the microchip. Rather, market volatility

> is an inherent part of capitalism. We also need to beware of

> declarations that all previous resistance is obsolete and that we need

> to invent new tools from scratch. The lessons of past struggles are

> still very much relevant today, and ignoring them is a quick recipe

> for repeating their errors today.

 

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