The World Revolution of 2011

an interesting perspective on occupy and the global awakening that seems to be taking place...

david graeber posting at adbusters...

It only makes sense then that the World Revolution of 2011 should have begun as a rebellion against US client states, in much the same way as the rebellions that brought down Soviet power began in places like Poland and Czechoslovakia. The wave of rebellion soon spread across the Mediterranean from North Africa to Southern Europe, and then, much more uncertainly at first, across the Atlantic to New York. But once it had, in a matter of weeks it had exploded everywhere. At this point it’s extremely difficult to predict how far all this will ultimately go. Truly historical events, after all, consist of precisely those moments that could not have been predicted beforehand. Could we be in the presence of a fundamental shift like 1789 – a shift not only in global power relations but in our elementary political common sense? It’s impossible to say, but there are reasons to be optimistic.

Let me end by listing three:

First, in no previous world revolution has the main center of mobilization been in the imperial center itself. Great Britain, the great imperial power of the 19th century, was barely affected by the uprisings of 1789 and 1848. In the same way, the US remained largely immune from the great revolutionary moments of the 20th century. The decisive street battles typically happen not in the imperial center, nor in the super-exploited margins, but in what might be termed the second tier: not London but Paris, not Berlin but St. Petersburg. The 2011 revolution started according to that familiar pattern, but it has actually spread to the imperial center itself. If this is sustained, it will be quite unprecedented.

Also, this time the power elite can’t start a war. They already tried that. They’re basically out of cards to play in this respect. This makes an enormous difference.

Lastly, the spread of feminist and anarchist sensibilities has opened up the possibility of a genuine cultural transformation. Here is the big question: Can we create a genuinely democratic culture? Can we change our fundamental conceptions of what politics must necessarily be like? For me, the image of middle-aged white guys in suits, in places like Denver or Minneapolis, patiently learning consensus process from pagan priestesses or members of groups like Anarchist People of Color so as to take part in their local General Assemblies (and there are … it’s true! I’ve heard reports) may well be the single most dramatic image to have come out of the Occupy movement so far.

Of course this could be the first moment in yet another round of recuperation and defeat. But if we are witnessing another 1789, a moment where our most basic assumptions about politics, economics, society, are about to be transformed – this is precisely how it would have to begin.

it's only been in the last two-plus months that i've started to become familiar with david graeber (see previous posts here), but the more i read of him, the better i like him...

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Let's have a jubilee - forgive the debtors, the banks have already been forgiven

william greider...

The rebellious citizens occupying Wall Street shock some people and inspire others with their denunciations of bankers, but everyone seems to know what they are talking about: the barbaric and suffocating behavior of the nation’s largest banks (yes, the same ones the government rescued with public money). Right now, these trillion-dollar institutions are methodically harvesting the last possible pound of flesh from millions of homeowners before kicking these failing debtors out of their homes (the story known as the “foreclosure crisis”). This is a tragedy for the people who are dispossessed. For the country, it is a generational calamity.

[...]

There is a solution, and it will appeal to the rebellious spirits occupying Wall Street because it combines a sense of social justice with old-fashioned common sense. It is forgiveness—forgive the debtors. Write down the principal they owe on their mortgage to match the current market value of their home, so they will no longer be underwater. Refinance the loan with a reduced interest rate, so the monthly payment is at a level that the struggling homeowner can handle. This keeps families in their homes, with a renewed stake in the future. It gives homeowners incentive to keep up their payments, because once again they have some equity and the opportunity to accumulate much more.

[...]

Forgiving the debtors is the right thing to do, because the bankers have already been forgiven. The largest banks were in effect relieved of any guilt—for their crimes of systemic fraud or for causing the financial breakdown—when the government bailed them out, no questions asked. The Obama administration followed up with a very forgiving regulatory policy that basically looked the other way and ignored the fictional claims on bank balance sheets. Instead of forcing honest accounting and rigorous reform, the administration adopted a strategy of soft-hearted regulation that banking insiders call “extend and pretend”: extend the failed loans and pretend that the loans will be paid off, even when you know many of them won’t. The phrase originated during the third world debt crisis in the 1980s, when the Federal Reserve rescued the same big banks from insolvency, the result of their reckless lending in Latin America.

greider calls up the historical tradition of "jubilee," a concept david graeber raised in a post i put up not long ago...

The ancient Hebrew society worked out a solution for recurring debt crises—you can find it in the Bible. Every seven years (in some interpretations, every fifty) the cycle of debt accumulation was erased by a declaration of general forgiveness. This was called the year of jubilee, and Christianity embraced the same moral principles (“forgive us our debts, as we forgive our debtors”). Property was returned to the original owners, and children and slaves were freed. Everyone was redeemed. The economy was freed to start over again.

a description of jubilee in the judeo-christian context (from wikipedia)...

The concept of the Jubilee is a special year of remission of sins and universal pardon. In the Biblical Book of Leviticus, a Jubilee year is mentioned to occur every fifty years, in which slaves and prisoners would be freed, debts would be forgiven and the mercies of God would be particularly manifest. In Christianity, the tradition dates to 1300, when Pope Boniface VIII convoked a holy year, following which ordinary jubilees have generally been celebrated every 25 or 50 years; with extraordinary jubilees in addition depending on need. Christian Jubilees, particularly in the Catholic tradition, generally involve pilgrimage to a sacred site, normally the city of Rome.

i like it... i like it a lot...

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We are watching the beginnings of the defiant self-assertion of a new generation of Americans

david graeber on the wall street occupation...

from the guardian's comment is free via alternet...

We are watching the beginnings of the defiant self-assertion of a new generation of Americans, a generation who are looking forward to finishing their education with no jobs, no future, but still saddled with enormous and unforgivable debt. Most, I found, were of working-class or otherwise modest backgrounds, kids who did exactly what they were told they should: studied, got into college, and are now not just being punished for it, but humiliated – faced with a life of being treated as deadbeats, moral reprobates.

Is it really surprising they would like to have a word with the financial magnates who stole their future?

Just as in Europe, we are seeing the results of colossal social failure. The occupiers are the very sort of people, brimming with ideas, whose energies a healthy society would be marshaling to improve life for everyone. Instead, they are using it to envision ways to bring the whole system down.

[...]

What we've learned now is that the economic crisis of the 1970s never really went away. It was fobbed off by cheap credit at home and massive plunder abroad – the latter, in the name of the "third world debt crisis". But the global south fought back. The "alter-globalisation movement", was in the end, successful: the IMF has been driven out of East Asia and Latin America, just as it is now being driven from the Middle East. As a result, the debt crisis has come home to Europe and North America, replete with the exact same approach: declare a financial crisis, appoint supposedly neutral technocrats to manage it, and then engage in an orgy of plunder in the name of "austerity".

i'm surprised that he didn't once reference naomi klein and disaster capitalism, a topic i've posted on repeatedly here...

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How about debt cancellation?

david graeber speaking in an interview with democracy now...

...when you hear a Republican talk about class warfare, you know they’re waging it.

[...]


I think that for the last 30 years we’ve seen a political battle being waged by the super-rich against everyone else, and this is the latest move in the shadow dance, which is completely dysfunctional economically and politically. I mean, it’s the reason why young people have just abandoned any thought of appealing to politicians. We all know what’s going to happen. The tax proposals are a sort of mock populist gesture, which everyone knows will be shot down. What will actually probably happen would be more cuts to social services. The very fact that the rhetoric is about the debt, which is really a non-issue, is itself the problem.

[...]

I think President Obama really has bought into the dominant ideology, which is essentially Republican. Finally, he has to wage an election campaign, so he has to make some gestures in the other direction, because he knows the overwhelming majorities of the American public are in favor of taxing the rich. And he also knows that it’s almost certainly going to be shot down. There’s nothing that the Republicans are less likely to put up with than a proposal like this.

[...]

In the ancient Middle East, often new kings would simply declare a clean slate and cancel all debts, or all consumer debts, commercial debts, between merchants were often left alone. The Jubilee was a way of institutionalizing that. In the Middle Ages, there were bans on interest taking entirely. There have been many mechanisms.

But whenever you have what I call a period of virtual credit money, when money is recognized not to be a thing like gold and silver, but a social relation or promise that people make to each other, which has become increasingly clear since the '70s, when we went off the gold standard—and I think 2008 really brought that home—debts can be renegotiated. They're not set in stone. Trillions of dollars of debt was made to disappear. We understand now that this is a political arrangement, and it can always be readjusted. And I think what the people coming to the squares—and Wall Street now included—are saying is that, well, if that’s true, if democracy is going to mean anything now, we’re all going to have to be able to weigh in on what sort of promises are made and what sort of promises are adjusted when you enter into a crisis.

now, THERE'S a thought...!

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