Peralta pushing to pass Carlos’ Law
Peralta pushing to pass Carlos’ Law
“Citing a 2013 report by the Center for Popular Democracy, Peralta said that between 2003 and 2011, three out of four victims in fatal construction accidents in the United State were immigrants or...
“Citing a 2013 report by the Center for Popular Democracy, Peralta said that between 2003 and 2011, three out of four victims in fatal construction accidents in the United State were immigrants or U.S.-born citizens of Latino heritage.“Among the cases investigated by [the U.S. Occupational Safety and Health Administration] in New York state that number is 60 percent,” Peralta said. “In New York City it’s 74 percent. And in Queens it’s 88 percent.
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Charter Schools Are Failing and Our Democracy Pays the Price
Charter Schools Are Failing and Our Democracy Pays the Price
Taxpayer dollars are filling the bank accounts of those who manage charter schools which is evident as research by In the Public Interest and the Center for Popular Democracy that exposed the...
Taxpayer dollars are filling the bank accounts of those who manage charter schools which is evident as research by In the Public Interest and the Center for Popular Democracy that exposed the financial fraud and corruption running rampant in these schools. In California, $6 billion of public funding has been funneled into charter schools and their respective management companies leaving public schools starved for required public monies.
Read the full article here.
Report: Federal Reserve Should Be ‘Fully Public,’ Increase Diversity in Highest Ranks
Report: Federal Reserve Should Be ‘Fully Public,’ Increase Diversity in Highest Ranks
Lawmakers should strip banks’ influence from the Federal Reserve’s leadership, make its regional banks publicly owned corporations and increase transparency in selecting its top leaders, according...
Lawmakers should strip banks’ influence from the Federal Reserve’s leadership, make its regional banks publicly owned corporations and increase transparency in selecting its top leaders, according to a report released Monday by the Fed Up Coalition, a campaign led by the left-leaning Center for Popular Democracy.
The 17-page report — co-authored by Fed Up Coalition Campaign Manager Jordan Haedtler, economist Valerie Wilson of the Economic Policy Institute and Dartmouth College economist Andrew Levin — is a more detailed version of a Fed overhaul framework proposed in April by Levin, a former Fed staffer, and urges members of Congress to make the central bank a “fully public institution” and scrub the influence of banks from its top echelons.
The report also proposes establishing annual audits of the Fed by the Government Accountability Office, reworking the selection process of Fed regional presidents and directors, returning capital shares to commercial banks invested in the regional Fed branches and opening the 12 regional banks to the Freedom of Information Act.
“We have really strived to make a proposal that we see as sensible and pragmatic and nonpartisan,” Levin said Monday in a conference call with reporters. “Over the years, both progressives and conservatives have felt strongly that big banks should not have an undue influence in the governance and the decision-making process of the Federal Reserve, and making the Fed fully public is an important way to do that.”
The proposal differs from previous “audit the Fed” measures, such as Sen. Rand Paul (R-Ky.)’s legislation that failed to garner the 60 votes needed to advance during a procedural vote in January, because it would prevent “political interference” in the central bank by establishing an annual schedule for GAO audits and giving the reviews a comprehensive focus rather than allowing members of Congress or congressional committees to single out monetary policy decisions, Levin said.
The report calls for greater diversity at the Fed’s top levels — both in terms of increasing racial and ethnic diversity and limiting the influence of financial sector power-brokers. It also said policymakers should be limited to a single seven-year term. Currently, the Fed chair is appointed to a four-yeart term that can be renewed. Members of the central bank’s Board of Governors are appointed to staggered 14-year terms, but their tenures average about four years. Regional Fed presidents have renewable five-year terms, and they typically hold office for at least two decades, according to today’s report.
The authors said that refunding shares to commercial banks with stakes in the regional Fed branches would save taxpayers about $3 billion over the next 10 years.
Members of the Fed Up Coalition are scheduled to meet later this week with Fed officials, including Federal Reserve Bank of Kansas City President Esther George, at the central bank’s annual policy symposium in Jackson Hole, Wyo. The meeting with George won’t center on today’s report, but instead will focus on “presenting stories of communities that still have not recovered from the Great Recession,” Haedtler said.
By TARA JEFFRIES
Source
Retail workers celebrate scheduling law. Requirements will bring change to national chains.
Retail workers celebrate scheduling law. Requirements will bring change to national chains.
Lisa Morrison loves her job in the floral department at Safeway on U.S. Highway 20 in Bend, but she said the company’s practice of giving three days’ notice of work schedules has created a lot of...
Lisa Morrison loves her job in the floral department at Safeway on U.S. Highway 20 in Bend, but she said the company’s practice of giving three days’ notice of work schedules has created a lot of stress in her life.
So, she made two trips to Salem this year with representatives of United Food and Commercial Workers Local 555 to lobby legislators on the workplace scheduling bill that passed June 29 with bipartisan support.
Read the full article here.
Nancy Pelosi, N.Y. pols rip GOP tax plan at Queens teach-in
Nancy Pelosi, N.Y. pols rip GOP tax plan at Queens teach-in
"When we look at this bill, it’s really a thinly veiled $1.5 trillion attempt to take away people’s health care, to stop funding schools, to sell off our nation’s infrastructure. That’s really...
"When we look at this bill, it’s really a thinly veiled $1.5 trillion attempt to take away people’s health care, to stop funding schools, to sell off our nation’s infrastructure. That’s really what’s happening,” Charles Khan, with the Community and Labor Coalition and the Center for Popular Democracy, told the crowd at the All Saints Episcopal Church.
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Immigrants, unions march on May Day for rights, against Trump
Immigrants, unions march on May Day for rights, against Trump
NEW YORK — Immigrant and union groups will march in cities across the United States on Monday to mark May Day and protest against President Donald Trump's efforts to boost deportations.
...
NEW YORK — Immigrant and union groups will march in cities across the United States on Monday to mark May Day and protest against President Donald Trump's efforts to boost deportations.
Tens of thousands of immigrants and their allies are expected to rally in cities such as New York, Chicago, Seattle and Los Angeles. Demonstrations also are planned for dozens of smaller cities from Ft. Lauderdale, Florida, to Portland, Oregon.
Read full article here.
Corporate power on the agenda at Jackson Hole
Corporate power on the agenda at Jackson Hole
Protesters from the Fed Up group will once again be on hand this year.
Protesters from the Fed Up group will once again be on hand this year.
Read the full article here.
Dream Come True
Dream Come True
Alyssa Milano and Ady Barkan attend the Los Angeles Supports a Dream Act Now! protest on Wednesday.
Alyssa Milano and Ady Barkan attend the Los Angeles Supports a Dream Act Now! protest on Wednesday.
See the photo here.
Avoiding 'Regressive Mistake,' Fed Holds Off on Rate Hike — For Now
Update 3 PM EDT:
In a decision that aligns with progressive demands, the Federal Reserve ...
Update 3 PM EDT:
In a decision that aligns with progressive demands, the Federal Reserve announced on Thursday that it would keep interest rates near zero in light of "recent global economic and financial developments" and in order to "support continued progress toward maximum employment and price stability."
Presidential candidate Bernie Sanders issued the following statement today after the Federal Reserve announced that it would hold off on raising interest rates:
“It is good news that the Federal Reserve did not raise interest rates today. At a time when real unemployment is over 10 percent, we need to do everything possible to create millions of good-paying jobs and raise the wages of the American people. It is now time for the Fed to act with the same sense of urgency to rebuild the disappearing middle class as it did to bail out Wall Street banks seven years ago.”
The New York Times reports that the Fed’s decision, "widely expected by investors, showed that officials still lacked confidence in the strength of the domestic economy even as the central bank has entered its eighth year of overwhelming efforts to stimulate growth."
Progressives cheered the news, with Josh Bivens of the Economic Policy Institute saying, "Today’s decision by the Federal Reserve to keep short-term rates unchanged is welcome. [...] We hope they continue their pragmatic, data-based approach and allow unemployment to keep moving lower, and only tighten after there is a significant and durable increase in inflation."
He continued: "Tightening before the economy has reached genuine full-employment is not just a mistake, it’s a regressive mistake that would hurt the most vulnerable workers—low-wage earners and workers from communities of color—the most."
However, Reuters reports that "the central bank maintained its bias toward a rate hike sometime this year, while lowering its long-term outlook for the economy."
Which means that pro-worker organizations, which have largely opposed a rate increase that they say would slow the economy and stifle wage growth, will have to keep up the fight.
"We applaud Chair Yellen and the Federal Reserve for resisting the pressure being put on them to intentionally slow down the economy," said Ady Barkan, campaign director for the Fed Up coalition, which rallied outside the Federal Reserve on Thursday.
"Weak wage growth proves that the labor market is still very far from full employment," Barkan continued. "And with inflation still below the Fed’s already low target, there is simply no reason to raise interest rates anytime soon. Across America, working families know that the economy still has not recovered. We hope that the Fed continues to look at the data and refrain from any rate hikes until we reach genuine full employment for all, particularly for the Black and Latino communities who are being left behind in this so-called recovery."
Earlier...
Progressives are cautioning the U.S. Federal Reserve against slowing the economy by raising interest rates "prematurely"—a decision the Fed will announce Thursday.
The U.S. central bank will issue its highly anticipated short-term interest rate decision following a two-day policy meeting, with a 2 pm news conference led by Fed Chair Janet Yellen.
As CBS Moneywatch notes, "[t]he decision affects everything from the returns people get on their bank deposits to how much consumers and employers pay for credit cards, mortgages, small business loans, and student debt." That's because a higher rate makes it more expensive for individuals and businesses to borrow, with rising bank lending rates shrinking the nation's money supply and pushing up rates for mortgages, credit cards, and other loans.
Just before the announcement, the advocates, economists, and workers of the Fed Up coalition will be joined by Rep. John Conyers (D-Mich.) at a rally outside the Fed, calling on the central bank to keep interest rates low to allow for more jobs and higher wages.
"The point of raising rates is to rein in an overheating economy that is threatening to push inflation outside the Fed’s comfort zone," explained Josh Bivens of the Economic Policy Institute in the Wall Street Journal on Wednesday. "But inflation has been running below the Fed’s target for years—and its recent moves have been down, not up."
Furthermore, wrote economist Joseph Stiglitz at the Guardian earlier this month: "If the Fed focuses excessively on inflation, it worsens inequality, which in turn worsens overall economic performance. Wages falter during recessions; if the Fed then raises interest rates every time there is a sign of wage growth, workers’ share will be ratcheted down—never recovering what was lost in the downturn."
Progressive activists opposed to an interest rate hike overwhelmed the Fed's public comment system on Monday in a last-minute effort to sway the central bank. Raising the rate, they said, would be catastrophic for working families, particularly in communities of color that are still struggling. The Fed Up campaign, which includes groups like the Center for Popular Democracy, Economic Policy Institute, and CREDO Action, say the central bank "privileges the voices and needs of corporate elites rather than those of America's working families."
"A higher interest rate means that fewer jobs will be created, and that the wages of workers at the bottom will remain too low to live on," wrote Rod Adams, a member of Neighborhoods Organizing for Change in Minneapolis, in an op-ed published Wednesdayat Common Dreams. "That’s because when the Fed raises rates, they are deliberately trying to slow down the economy. They’re saying that there are too many jobs and wages are too high. They’re saying that the economy is exactly where it should be, that people like me are exactly where we should be."
However, at this point, "many observers believe the Fed will not raise rates this week," analyst Richard Eskow wrote on Wednesday.
"The Fed is really the central bank of the world. If the Fed raise rates a little bit, it will have an impact all over the world, particularly in emerging markets," billionaire private equity professional David Rubenstein told CNBC's "Squawk Box" on Thursday.
"I think the Fed is sensitive to that," Rubenstein said, "and I think therefore the Fed is likely to wait for another month or two to get additional data and probably telegraph a little bit better than it has now that it's about ready to do it at a particular time."
Meanwhile, global markets are fluctuating wildly in anticipation of Yellen's announcement and subsequent news conference.
But as Eskow noted, Thursday's real surprise "is that there’s any question at all what [the Fed] will do. That suggests that our economic debate is not yet grounded in economic reality, at least as most Americans experience it."
While the Guardian is providing live updates on the Fed's decision, others are making comment under hashtags that reflect the unbalanced economic recovery:
Source: CommonDreams
Pittsburgh marchers decry racial, economic injustice
Pittsburgh marchers decry racial, economic injustice
The message was often strident, but the mood of Friday afternoon’s “Still We Rise” march was spirited. More than 1,500 demonstrators, some in strollers, marched down Grant Street under the wing of...
The message was often strident, but the mood of Friday afternoon’s “Still We Rise” march was spirited. More than 1,500 demonstrators, some in strollers, marched down Grant Street under the wing of a gold-crested phoenix, a mythical bird whose rebirth from its own ashes captured the march theme.
“It was beautiful, it was powerful, and it was peaceful,” said Erin Kramer, the head of local activist group One Pittsburgh.
The march drew support from People’s Convention, a two-day gathering of left-leaning community activist groups from 30 states. Demonstrators wielded caricatures of Republican presidential candidate Donald Trump and UPMC head Jeffrey Romoff, in complementary shades of red-orange. And they made frequent stops along Grant Street, where speakers denounced what they saw as cases of racial and economic injustice.
Check back for more updated video with interviews and more scenes from the "Still We Rise" march to protest growing inequality and hate. (Video by Pam Panchak; edited by Melissa Tkach)
A key concern was rising distrust between police and minority groups nationwide. This week, two African-American men, Louisiana resident Alton Sterling and Minnesota resident Philando Castile, died at the hands of police. Five officers were killed by a sniper during a Thursday protest in Dallas.
Outside the Allegheny County Courthouse, demonstrators chanted “Indict, convict, send those killer cops to jail. The whole damn system is guilty as hell.” Still, while a stepped-up police presence was noticeable during the march, there was little tension.
“I’m not feeling any concern” about the marchers, said Police Chief Cameron McLay, who was on hand for the event. Police, he said, were watching for “what else is out there,” including possible attacks on the marchers themselves. The chief called the event “a positive demonstration of First Amendment rights.”
Michelle Tremillo, executive director of the Texas Organizing Project, said members of her organization had participated in the Dallas protest. "It took us until 1 a.m. to make sure that all of our people were home safely," she said. "I was struggling to be here."
"My heart aches for Alton’s family, my heart aches for Philando’s family, and my heart aches for those police officers and their families," Ms. Tremillo said.
But she and others said they hoped shock over the Dallas shooting wouldn’t obscure the racial- and economic-justice issues raised by the march. "I'd hate for that to get lost."
Outside the federal courthouse, demonstrators called for the release of Martin Esquivel-Hernandez, a Mexico-born Pittsburgh resident facing deportation. In May, the Department of Justice said Mr. Esquivel-Hernandez had previously been removed from the United States four times. But Friday his wife, Alma, held aloft his shoes and through an interpreter called him a “father of a U.S. citizen [and] a hard worker. The system has failed him and all of us.”
The march ended outside Republican Sen. Pat Toomey’s office in Station Square, where demonstrators decried fracking for natural gas.
“We wanted to display unity and make the connection between racial justice and economic justice,” said Ana Maria Archila, a co-executive director of the Center for Popular Democracy, which is hosting the convention. “And the march really achieved that.”
By Chris Potter
Source
9 days ago
9 days ago