The Left Forum: Monopoly, the Land Bubble and the Financial Crisis. Tactics to Fight the 1%

Toxic Mortgages, Ultra-leveraged derivatives, CDOs, SIVs, Liar Loans -- these are just a few of the ways in which the 1% siphons money from the 99%, with the help of sycophant legislators, regulators, and other groups that are supposed to protect consumers and keep things fair. Tax policies now favor speculation over working. From this, and the banks' ability to create money from nothing, a Land Bubble inevitably follows, as does a collapse. To "save the system," the FRB bailed out the financial institutions with, as one retired Fed official put it, "liquidity on steroids" -- recently reportedly cumulatively totaling $29 Trillion! But, beneath all the derivatives and the alphabet soup of investment vehicles lies a critical failure of capitalism: the unearned ability of the rentier class to monopolize natural resources and location. With the 1%'s monopoly on what's vital for survival, the 99% has no choice but to pay all that remains after bare needs are met. In order to create a just society, monopolies must be taxed, including the value of their holdings of prime locations and natural resources. This would free up the Commons, decrease corruption, expand opportunities, reduce poverty, and give true productivity power back to the 99%! But how? Attend a panel discussion led by business, legislative, and academic experts to learn how to create a sane and sustainable model that rewards work and true innovation, not speculation and monopoly.