Bill Moyers:

Even as President Obama’s talking points champion the middle class and condemn how our economy caters to the very rich, modern American capitalism is a story of continued inequality and hardship. Even a modest increase in the minimum wage — as suggested by the president — faces opposition from those who seem to show allegiance first and foremost to America’s wealthy and powerful.

Yet some aren’t just wringing their hands about our economic crisis; they’re fighting back. Economist Richard Wolff joins Bill Moyers to shine light on the disaster left behind in capitalism’s wake, and to discuss the fight for economic justice, including a fair minimum wage. A Professor of Economics Emeritus at the University of Massachusetts, and currently Visiting Professor in the Graduate Program in International Affairs of the New School, Wolff has written many books on the effects of rampant capitalism, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It.

Also on the broadcast, activist and author Saru Jayaraman marches on Washington with restaurant workers struggling to make ends meet, and talks about how we can best support their right to a fair wage. Jayaraman is the co-founder and co-director of the Restaurant Opportunities Centers United, which works to improve pay and working conditions for America’s 10 million-plus restaurant workers. She is also the author of Behind the Kitchen Door, a new exposé of the restaurant industry.

Full transcript from the show below the fold.

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Economist Richard Wolff explains the weaknesses of capitalism and the need for Americans to understand the system under which they live and work.

There are many problems associated with capitalism (state capitalism): wage slavery, concentration of wealth and power, undermining of democracy, repression of curiosity and creativity, environmental destruction, the boom and bust cycle (over production), economic depression, promotion of competition over cooperation, isolation of individuals from society, consumerism, escapism, apathy, emotional instability, political corruption (cronyism), suppression of science and technology research due to short term profit motive, personal debt, crime, violence, war, etc.

The strength of capitalism is its ability to produce enormous wealth (surplus), but this is only possible through state capitalism (government control of the economy).

Occupy Detroit gets a home base:

With its comfy sofas, kitchen and sunlit windows, the brick building at 5900 Michigan Ave. in Detroit that opened this year could pass for a spacious café.

But a banner high on the wall that reads "We are the 99%" signifies this is a different type of place, one that's become the center for activists in metro Detroit. After leaving their encampment in Grand Circus Park in November, Occupy Detroit has found a new home in the heart of southwest Detroit.

Across the street from a grocery store, the two-floor 12,000-square-foot building with a tall ceiling was refurbished by activists and is a striking symbol of the movement's attempts to establish a solid base in the region for its activities. "OCCUPY," it reads on the windowpanes outside.

Awesome news!

Social Security is not going broke. I repeat, Social Security is not going broke.

Which federal program took in more than it spent last year, added $95 billion to its surplus and lifted 20 million Americans of all ages out of poverty? Why, Social Security, of course...

Tom Morello, Worldwide Rebel Tour, performing "Night Watchman."

Tom Morello has done it again. Always looking to support the Occupy Movement in one way or another, he has now released a free 30-minute documentary , (did I mention it's free?) in celebration of May Day. Directed by Bobby Roth and filmed at Henson Studios in Los Angeles last August, the film features interviews with Morello juxtaposed with live performances of “Black Spartacus Heart Attack Machine,” “Save The Hammer For The Man,” “It Begins Tonight,” and “World Wide Rebel Songs.” The film is sure to inspire fans both in and out of the Occupy Movement.

Says Morello, "Remember that old Coca-Cola commercial? ‘I’d like to teach the world to sing/in perfect harmony'? It’s like that. But with class warfare."

Tom Morello was also honored for his activism:

The Rage Against The Machine star has been one of the most fervent supporters of the Occupy Wall Street movement, which began in New York last year (11), and has traveled across the U.S. and Canada, and even to London to perform for demonstrators calling for an end to corporate greed.

He also led hundreds of protesters in a musical march through the streets of the Big Apple on May Day (01May12) for the so-called Occupy Guitarmy event, and his campaign work earned him special recognition for public service at the 2012 Hillman Prizes ceremony.

Morello was presented with the award by singer and fellow civil rights activist Harry Belafonte, Jr. at the prizegiving in New York on Tuesday night (01May12), but the rocker admitted he didn't think he'd make it to the event when Occupy demonstrators clashed with police earlier that day.

From ThinkProgress: Wall Street CEOs Personally Lobby Federal Reserve To Weaken New Financial Regulations.

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