Friday, March 1, 2013
Sidney Gluck, a retired professor of economics, is looking for support for a project. Here is the letter he sent out; below is my encouragement to him; and below that is a presentation he made to the progressive Lamont Humanist Society:
You're aware of the campaign we started to promote the use of public capital in the social security trust funds for loans to create industry, which has been denied by finance capital for the last 30 years. This would be a logical way of using an existing form of capital which our government has seen fit to borrow to the extent of $2.7 trillion, paying interest at a percentage I've been finding it difficult to fully determine. There is absolutely no legal reason why the public form of capital should not be utilized in some protected form of loans to finance the creation of industry and create jobs. It is absolutely logical, and in a way, the only direction which is practical and has proven itself by the government loans, which have in fact made it possible for the government to not increase taxes over decades.
We have started a campaign to involve trade union and labor leaders in the movement for this support of creating industries that private capital has neglected. We sent you the information that went to Washington and to the President's office. We are now in the process of creating a mass movement that will voice this request and ultimately get us out of the economic mess that will not be solved by the private interests. My call at this point is for you to promote this idea, and I would appreciate your getting back to me so that we can expand this list of organizations that should be involved.
Our success will be a tribute to positive associations of our kind on the internet. I personally do hope you feel strongly about the need. I look forward to hearing from you.
Sidney J. Gluck
Contact: Sidney J. Gluck <firstname.lastname@example.org>
Sidney has a FaceBook page, too. Just search his name and you will find him on FaceBook.
This was my input:
Fantastic idea, Sidney!
I would suggest that two initiatives be undertaken:
1. The establishment of a Federal Bank based on the model of the State Bank of North Dakota with United States Postal outlets serving as local branches like credit unions.
2. These funds could be used to create and finance a nationalized, publicly owned energy industry making clean, green energy available to working class families.
I would suggest the "petition" be in the form of a declaration stating what the American people want instead of this greedy Wall Street drive for ever greater corporate profits which has turned everything into rackets ripping the people off.
Make it part of a call for full employment, too; as using U.S. Postal outlets for banking, and the manufacturing, installation and maintenance of a clean, green energy grid would create millions of jobs protecting people from the parasitical Wall Street coupon clippers.
Alan L. Maki
Here is the talk Sidney Gluck delivered to the Lamont Society about the three forms of capital:
Alan L. Maki
Director of Organizing,
Midwest Casino Workers Organizing Council
58891 County Road 13
Warroad, Minnesota 56763
Primary E-mail: email@example.com