mongster's nest

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Chapter 11 – Thesis 11

Links: Breastfeeding campaign in Indonesia. Regulation of political activities in Singapore. Rituals in Laos and Thailand when moving into a new house. Student initiation ceremonies in Thailand.

Recession hits Singapore, a post written for Global Voices. Read the French translation.


Chapter 11 is part of the bankruptcy code in the United States. Corporations and individuals who are bankrupt can file for Chapter 11. This will give the troubled companies and individuals a court protection while reorganizing their financial assets. In short they will remain in business while finding ways to pay their creditors.

For many bankrupt American corporations, Chapter 11 is a convenient escape method. Last month Lehman Brothers Holdings Inc. filed for bankruptcy. With declared assets of $639 billion, Lehman recorded the biggest bankruptcy in the US.

It is expected that Chapter 11 bankruptcy petitions (which are very humiliating) will rise in the US as the economy continues to shrink.

The options to solve our economic woes must be expanded. Instead of clinging to Chapter 11 and other limited (degrading) measures offered by capitalism, why not attempt to devise bolder ways of solving our problems. It’s time to accept the need to develop a better kind of economic system. And also admit that Marx-Lenin-Mao are correct.

Reject the Chapter 11 kind of thinking; instead, embrace a Thesis 11 attitude. Karl Marx’s 11th thesis in his Theses On Feuerbach: “Philosophers have hitherto only interpreted the world in various ways; the point is to change it.”

Imagine if more Americans will abandon their Chapter 11 dependence and adopt a Thesis 11 revolutionary mindset. If this is accomplished, we can begin to talk of real change. There is hope after all. There is life after capitalism. Choose life, choose red.

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Do we need superheroes? During times of crisis, America leans on superheroes. According to Brad Meltzer, America created Tarzan and Flash Gordon during the Great Depression “to transport people away from the reality of their lives.” Superman saved America during World War II while Spiderman (the movies) was the hero of 9/11. What about Captain America?

And the super heroes in these subprime times: The Dark Knight? Iron Man? The return of Indiana Jones?

Meltzer adds: “We’re a nation starved for heroes. That’s why we nominated these two guys for president: One is a savior by his acts in war (McCain) and one is a savior who offers us hope (Obama).”

In the Philippines, American leaders are the superheroes of Filipino politicians. Erap is Reagan (both were actors), Clinton is a classmate of you know who, Chiz is Obama, and Vilma is Palin. Nyek!

Sociologists have already explained the popularity of fantaserye TV shows in the Philippines. The poor need to believe that someone strong and good will rescue them from their destituteness. Somehow, fantasies are helping the poor to survive. Most of them do not realize that they themselves (in their very excess and lack) are the superheroes which the country need.

To borrow the words of Ka Daning Ramos: Hindi natin kailangang ng mga Captain Barbell, Darna, Mulawin, Sugo at iba pang mga superhero sa telebisyon. Ang mamamayan, ang masang api, ang magsasaka kasama ang mga manggagawa, kakapit-bisig ng iba pang uring inaapi sa lipunan, ang magsusulong ng rebolusyon at magliligtas sa ating kinabukasan.

Also, we do not need a superhero Obama.

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Bush, McCain and the Republican Party are supported by neo-conservatives, reactionaries and other unfunny elements in society. Obama and the Democrats belong to the same ruling class. Different factions of the same party. Party of Big Business. The two presidentiables have been criticizing Wall Street banks these past weeks. But after the elections, it is expected that they will be good friends again with Wall Street. These politicians will never forget the Wall Street executives who gave generous campaign contributions.

Let us review some of the campaign contributions of Wall Street employees.

Merrill Lynch                   - $297,000 to McCain and $191,000 to Obama
Lehman Brothers             - $117,500 to McCain and $361,000 to Obama
AIG                                - $647,000 election donation
Washington Mutual          - $428,000 election donation
PAC                                - $600,000 election donation
Fannie Mae                     - $6,550 to McCain and $80,000 to Obama (kaya ba galit si McCain sa Fannie Mae, hehe)

Source: Wall Street Journal, September 16, A6

Do not expect the next American president to be hard on Wall Street. Expect the “incestuous relationship” of White House and Wall Street to continue. We should place our hopes on ourselves, on our struggles. After voting on November, we should fight, fight, fight.

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How very disappointing that during these troubled times, magazines are featuring the life story of Warren Buffett, the world’s richest man, in order to inspire Americans to become rich as well.

From his biography, The Snowball, Buffet shares his money-making secrets: While visiting the New York Stock Exchange, the 10-year old Buffet had an epiphany - “That day, a vision of his future was planted. He wanted money.” After reading a book, One Thousand Ways to Make $1000, Buffet started thinking: “If he made $1000, as the book said, and it grew at a yearly rate of 10 percent interest, in 5 years, $1000 would become more than $1600. He could picture the numbers compounding as vividly as the way a snowball grew when he rolled it across the lawn. Warren announced that he would be a millionaire by age 35, an audacious statement for an 11-year old to make.”

Get rich. Desire money like Warren. Dream of becoming a millionaire. Why promote this kind of thinking? Whatever happened to 11-year old kids who dream of becoming a pilot or an astronaut or a superhero? Why portray the yearning to become a millionaire as a normal impulse?

Ganito rin ang ginagawa nila sa Pilipinas. Why praise billionaires who amassed their wealth by exploiting workers and waltzing with dictators?

Do not glorify billionaires. Instead, we should celebrate the lives of revolutionaries, dissidents, genuine visionaries, philosophers, scientists and the fighting poor. Instead of telling them to get rich, we should teach kids how to change the world.

Related entries:

Excess and lack
Other radicals

posted by: mongpalatino at November 01, 2008 08:30 | link | comments |
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