For at least 2 years it has been suggested by conservative political observers that leftwing groups, working in concert with labor unions such as SEIU, have plotted the destruction of America as we know it by attacking the capitalist economic system that forms the cornerstone of this free republic. These observations by astute conservatives appear to be no longer mere theories but fact. Fox News TV host Glenn Beck exposed a plot on Tuesday evening’s show that is nothing less than a smoking gun–an audio of speakers at a leftwing gathering at Pace University in New York this past weekend during which a major labor union leader informed listeners of a coordinated effort to crash the stock market by encouraging their members at the grassroots level to stop paying their mortgages.
Alarmed at the growing irrelevance of labor unions and ‘community organizers,’ union leader Stephen Lerner told the audience that the only alternative to accomplish the goals of unions and leftwing groups is to immediately crash the system by targeting Wall Street mortgage lenders such as J.P. Morgan/Chase. The lenders would once again be brought to the brink of collapse as they were in the summer of 2008, but this time the crisis would be the result of a deliberate attempt by the labor unions and the leftwing to bring down the American economic system by refusing to comply with the terms of their home mortgages.
One of the participants at the forum was socialist anarchist Francis Fox Piven, who, along with professor Richard Cloward during the 1960s formulated a plan that became known as the ‘Cloward-Piven Strategy’ to bring about ‘social justice’ by deliberately overloading the American economic system to the point that it collapses under its weight. It is then that real ‘change’ can be accomplished.
According to The Other McCain, Lerner stated the following:
“We need to figure out . . . through direct action . . . how we are really trying to disrupt and create uncertainty for capital, for how corporations operate,” Lerner said. “There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement.”
Lerner, who spoke on two panels during the conference, suggested encouraging homeowners to stop paying their mortgages. Saying that 10% of “underwater” mortgage borrowers are in “strategic default” — refusing to make payments but taking advantage of delays in the forceclosure process — Lerner said if the number of strategic defaults were doubled “you could put banks at the edge of insolvency again.”
Lerner said: “[W]hat would happen if we organized homeowners en masse to do a mortgage strike? If we get half a million people to agree, it would literally cause a new financial crisis for the banks – not for us. We would be doing quite well. We wouldn’t be paying anything.”
The forum at Pace University on this subject was much more than a mere exercise in theory, however. The group set a target date for implementing the plot–the first week in May.
Lerner is a former SEIU operative who was fired from his position when Andy Stern stepped down to take a position as a special adviser to Barack Obama.
It is to be noted that the very groups advocating for this plot of economic terrorism against American citizens are all connected to the union groups that are now protesting in Wisconsin, Michigan, Ohio, and other states. But the plot is one of cutting off one’s nose to spite one’s face. Most of the pension plans that fund retirement programs for state employees across the country have at least some connection to investments involving the stock market. If the markets go south, there goes the retirement money.
Interestingly, while making his remarks Lerner quipped that he hoped there were no law enforcement officers present, perhaps indicating that what he advocates is a violation of the law.
Legal or not, what was discussed in all seriousness at the forum at Pace University this past weekend is a major blow to the cause of labor unions, community organizers, and the American leftwing.
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