I have 108 fans: Become a Fan. You'll get emails whenever I post articles on OpEdNews
Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've always been more interested in political economics and what's going on behind the scenes in politics, than in mechanical engineering, and because of that I've rarely worked more than 8 months a year, devoting much of the rest of the year to reading and writing about that which interests me most.
(6 comments) SHARE Saturday, June 26, 2010 Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?
Out of fear of losing stability in the country, poppy cultivation is supported by US and allied forces. In Nov. 2009, the Afghan Minister of Counter Narcotics stated that the majority of drugs are stockpiled in two provinces controlled by US troops. He also said that NATO troops are taxing the production of opium in regions under their control and are earning money from it. What if Tillman had lived to tell this story on TV?
(16 comments) SHARE Sunday, November 22, 2009 New JFK assassination bombshells
Bombshells in the new trade paperback of a good JFK assassination book are featured in a new Discovery Channel special, "Did the Mob kill JFK?" produced by NBC. It premieres Sunday, November 22, 2009, on the Discovery Channel (US) at 8pm and again at 11pm. Authors of the book, Legacy of Secrecy, Lamar Waldron and Thom Hartmann, are extensively interviewed in the documentary, which will continue to air in the coming months.
(10 comments) SHARE Wednesday, December 22, 2010 Two U.S. presidents implicated by ex-CIA black-ops assassin
Taped recording of Mossad's Latin American station chief, Mike Harari: "Look, a kilo of "product" is about $1,000. We credit the Contras $1,500 for every kilo. That's top dollar for a kilo of cocaine. It's equivalent to the American K-Mart special: "Buy four, get one free." We spend $1,200 for a kilo and sell it for $12,000 to $15,000. Now, that's a profit center. It's just good business sense, understand?"
(14 comments) SHARE Saturday, November 22, 2008 The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense
Although a staggering amount of money has been spent on research to conclusively prove the link between saturated fat, cholesterol and Coronary Heart Disease (CHD), there exists a massive volume of scientific evidence published in peer-reviewed journals that completely absolves dietary cholesterol, saturated fat and elevated blood cholesterol of any harmful role in CHD. Why the continuance of this myth. Answer: Big profits.
(52 comments) SHARE Friday, March 11, 2011 Four Ticking Time Bombs That Will Soon Ignite a Revolution
Forget jailing Wall Street's dictators. It's naïve and too late. We missed that opportunity. But a revolution will do the trick, giving us a second chance to jail the bastards. Until then, remember: The following four factors are building to a head, merging into a critical mass that will accelerate into a revolution and destroy Wall Street from within.
(22 comments) SHARE Thursday, July 14, 2011 The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?
Foreign Policy magazine recently ran an article entitled "The Next Big Thing: Neomedievalism," arguing that the power of nations is declining, and is being replaced by banks and other corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions. Meanwhile, leading progressive economists say that the true purpose of the bank rescue plans was "a massive redistribution of wealth, to the rich."
(43 comments) SHARE Monday, April 11, 2011 To What Extent Was Mossad Involved in the Events Leading to 9/11?
British intelligence reported in February 2002 that Mossad ran the Arab hijacker cells that were later blamed by the US government's 9/11 Commission for carrying out the attacks on the WTC and Pentagon. A Mossad unit consisting of six Egyptian- and Yemeni-born Jews infiltrated al Qaeda cells in Hamburg, south Florida, and the UAE in the months before 9/11. Mossad gave them specific orders that would culminate in the attack.
(26 comments) SHARE Tuesday, December 28, 2010 Is an economic collapse being prepared? If so, for whose benefit?
Because of their entrenched way of perceiving things, it is difficult to convince most people that the economic system in which they live is actually being used, by persons unknown, in ways that are preparing the destruction of both their economy and their futures.
(46 comments) SHARE Wednesday, November 10, 2010 To what shrinking extent do the rich any longer need the rest of us?
As large corporations and the rich increasingly rely on cheap labor in and from other countries, how is their disappearing need for American middle class workers damaging our society? And what if anything can be done to reverse this process? Between 2001 and 2008, about 40,000 US manufacturing plants closed. Six million manufacturing jobs -- one out of every three -- disappeared over the past dozen years. What can be done?
(18 comments) SHARE Saturday, April 30, 2011 Has the Great American Apocalypse Begun?
Insane government spending, massive debts, out-of-control money printing, and almost unimaginable political cowardice are about to exact a heavy toll from each of us. And now, as our massive debts begin to implode, and as the US dollar plunges in value worldwide, everything in your life is set to change--radically. Millions more Americans are about to lose their income, their savings, their buying power, and their homes.
(12 comments) SHARE Thursday, September 23, 2010 How we can take stolen profits back from banksters
Main points from Rob Kall's talk with Ellen (WebOfDebt) Brown, J.D. --
Public projects funded by low-cost loans from state banks, green banks, or city owned banks, would cost only half of what they would cost if funded through loans from private banks that charge much higher rates of interest on those loans. Thus, many green energy projects currently deemed too expensive to be viable would suddenly become viable.
(27 comments) SHARE Saturday, August 28, 2010 Why is America suffering so much from a recession that Germany largely bypassed?
What triggered all the outsourcing? Something you will never hear about or read about in the mainstream media: a simple change in tax law that occurred during President Reagan's first term: a huge gift to the corporate bigwigs who helped get him elected. As a result, the importation of products made in American factories located in low-wage countries was no longer taxed the way it was before Reagan took the White House.
(70 comments) SHARE Friday, August 6, 2010 The Republican plan to wreck the economy and then blame the Dems. Will it work?
Republicans believe that most voters, political sleepwalkers that they are, will automatically blame whatever administration is in power for a collapsed or failed economy. They believe that most voters are unable to see that this economic downturn was created by the Republicans. And with tons of corporate money to fund their efforts, and a corporate-dominated media at their disposal, they just might succeed.
(15 comments) SHARE Wednesday, July 29, 2009 The American Road to Fascism -- a synopsis of Chris Hedges' new book, Empire of Illusion
Fifty million workers will lose their jobs worldwide in 2009. In the past three years, nearly one in five U.S. workers was laid off. The IMF prediction for global economic growth in 2009 is 0.5% -- the worst since WWII. More than 2 million properties in the US received a default notice or were repossessed in 2008. Twenty thousand major banks collapsed worldwide, and 62,000 US companies are expected to shut down this year.
(7 comments) SHARE Thursday, March 3, 2011 The "Budget Crisis" is the Product of Tax Avoidance Scams By The Very Rich
Reduced taxes on the rich leave them with ever more money to buy politicians. This wins them further tax reductions, which give them still more money to put to political use. Then, when the loss of tax revenue from the rich worsens already strained government budgets, the rich and powerful press politicians to cut public services and government jobs and not even debate a return to the higher taxes the rich used to pay.
(14 comments) SHARE Saturday, February 26, 2011 Why Isn't Wall Street in Jail? -- a synopsis of Matt Taibbi's recent article and interview
The financial-crisis era is one in which we've seen virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that have impoverished millions of people and collectively destroyed trillions of dollars of the world's wealth. It's also one in which the American people have been systematically defrauded by Wall Street companies operating in conjunction with Congress and the Fed.
SHARE Monday, July 27, 2009 The end of American empire -- closer than we think?
The tantalizing illusions offered by our consumer culture are vanishing as we barrel towards collapse. The ability of the corporate state to pacify the country by extending credit and providing cheap manufactured goods to the masses is gone. The pernicious idea that democracy lies in the choice between competing brands and the freedom to accumulate vast sums of personal wealth at the expense of others has collapsed.
(38 comments) SHARE Wednesday, May 30, 2012 Canadian professor blows lid off of America's phony "war on terrorism"
After 911 the fully enlivened myth of the outside enemy & threat of Islamic terrorists was used as a pretext to invade Afghanistan & Iraq - invasions that had been planned, or at least anticipated, for more than a year prior to 9/11. Further, & perhaps more importantly, these invasions helped provide the backdrop & political environment necessary for surreptitiously repealing civil liberties & constitutional gov't in the US.
(98 comments) SHARE Saturday, October 9, 2010 Mounting evidence that BushCo knew well in advance that the 9/11 attack was being planned
After buying up the first 10,000 copies of his book, The D.I.A. recently demanded that all references to a meeting between Lt. Col. Tony Shaffer, the book's author, and the executive director of the 9/11 Commission, Philip Zelikow, be removed from the book. In that meeting, Col. Shaffer alleges that the head of the 9/11 Commission was told, well in advance of 9/11, about the identification of Mohammed Atta as a terrorist.
(12 comments) SHARE Tuesday, February 9, 2010 Will The U.S. Economy Recover This Time?
Even though the U.S. financial system nearly melted down in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession the banksters got us into is almost over and that very shortly we will be experiencing another period of economic growth and prosperity, just like we always have before. This is rather far from the truth.
(15 comments) SHARE Friday, August 28, 2009 The CIA's Role in the Origin and Maintenance of America's Overclass
Using subversive techniques once aimed at communists, and with all the money they could ever need to succeed, the Overclass (with CIA help) undemocratically controls our government, our media, and even a growing part of academia. These institutions in turn allow the Overclass to control the supposedly "free" market, all to the detriment of workers, consumers, women, minorities and the poor.
(17 comments) SHARE Saturday, November 14, 2009 Why we must nationalize the Federal Reserve
Banking is not a proper function of the government, but oversight is. The Treasury Department should not be outsourcing to the Fed its oversight responsibilities. The Fed, which failed miserably to oversee the banks, should be put under Treasury instead. It's time for the government to operate in the public interest, not in the interest of private banks. It's time to stop bailing out banks and begin building up America.
(24 comments) SHARE Sunday, August 5, 2012 $26 Trillion of Bankster Fraud & Theft According to Ron Paul, Alan Grayson and Bernie Sanders
Imagine that your family had $250,000 saved and thieves took it. But the legal system, more aligned with the thieves than with you, didn't care to help you. Actually that just happened. Everyone who was unemployed could have been given a job. A vast public works program could have created to stimulate the economy. This money would then have been an investment in the country & its people, instead of a one-time gift to banks.
(12 comments) SHARE Tuesday, February 16, 2010 Are Major Countries Preparing to Financially Dismantle the United States and its Empire?
Seeing that US global hegemony cannot continue without spending power that they themselves supply, various governments are attempting to hasten the coming bankruptcy of the US financial-military world order. If China, Russia and their allies have their way, the US will no longer live off the savings of others (in the form of its own recycled dollars), nor wage imperialist warfare with that money either.
(16 comments) SHARE Monday, February 14, 2011 Here Comes Another Bubble, and a Crash That Will Dwarf the Last One, Unless . . .
The bubblenomics game is back on. Two years of essentially zero interest rates, limitless guarantees, and a $2 trillion I.V. drip-feed from the Fed, has lifted Wall Street up off its back and put the greed-head speculators back in the center of things. It's a miracle: Who would have thought that Bernanke could engineer another bubble this fast after the disaster the last one led to? But he pulled it off!
(4 comments) SHARE Saturday, March 3, 2012 Grandest of All Ponzi Schemes? Foreign Central Banks Begin Buying US Stocks
A small number of central banks have started investing part of their reserves in US equities. About 9% of the foreign-exchange reserves of Switzerland's central bank were invested in shares at the end of the third quarter, the Swiss bank said on its website. In addition, the Bank of Israel recently began a pilot program to invest a portion of its foreign currency reserves in US equities.
(45 comments) SHARE Saturday, March 26, 2011 Tracking Our Downward Spiral: the Ways in Which America Still 'Leads' the World
America is bringing back debtors' prisons! Millions of us have been screwed over by predatory lenders and fine-print credit card contracts, and now, partly because of that, many of us are swimming in debt. Those who can't pay off their credit cards can now be thrown in jail in a third of the states in our nation. Since the start of 2010, over 5,000 arrest warrants have been issued against people who owe as little as $1000.
(9 comments) SHARE Monday, May 13, 2013 Global Economic Crisis and the Coming/Current Depression
Obama's Director of National Intelligence has warned that the deepening world capitalist crisis poses a paramount threat to US national security, & that its continuation could trigger a return to the violent extremism of the 1920s and 30s. Clearly underlying his remarks are fears within our massive US intelligence apparatus, as well as among the more conscious layers of America's ruling elite, that this could lead revolution.
(3 comments) SHARE Thursday, March 4, 2010 Double-Dip Recession Directly Ahead
An economy that moves its high productivity, high value-added jobs offshore is going nowhere but down. Except for the super-rich, there has been no growth in people's incomes for a decade. To substitute for the missing income growth, consumers took on more debt. That growth in consumer debt kept the economy going. However, most consumers have now reached their maximum debt load, and millions went beyond their limit.
(27 comments) SHARE Friday, April 12, 2013 Will the Coming Economic War With China End the American Empire?
China is mobilizing resources & gathering allies around the globe in preparation for this war. In league with a small group of rogue nations, they have one purpose: to crush the economic, political & military strength of the US by targeting America's Achilles heel: the petrodollar. Their plan is to (by that means and others) send the USdollar (today the world's reserve curreny) into the dustbin of history, at great cost to us.
(12 comments) SHARE Wednesday, August 22, 2012 New Evidence that THC (in marijuana) Is Effective Against Cancer and Other Diseases
A recent Harvard study shows that THC cuts tumor growth in common lung cancer in half and significantly reduces the ability of the cancer to spread. This is the first set of experiments to show that THC actually activates naturally produced receptors to fight off lung cancer. Tumors were reduced in size & weight by half in treated mice compared to a control group, with 60% fewer cancer lesions on the lungs of treated mice.
(6 comments) SHARE Sunday, February 19, 2012 Why and How the US Economy is On the Edge of a Precipice
Unbeknownst to most of our contemporaries, _Fortune_ is actually a _deity_, like Allah or Jesus. But unlike them she has been worshipped since ancient times -- as Tyche in Greece and as Fortuna in Rome. She continues to be worshipped today, around the world, but especially in the US, where her temples and shrines are everywhere, from the humble lottery machines at every corner shop, gas station and liquor store, to Wall St.
(14 comments) SHARE Wednesday, February 2, 2011 Where is This Economy Headed, Really?
The "recovery" is a sham -- a temporary respite bought and paid for by Washington. Obama's appointed wizards from Wall Street will keep this sham recovery going until he is reelected next year. With enough Fed purchasing of Treasury bonds and toxic mortgages, and mortgage-backed securities from banks, using money created out of thin air at the Fed, it can in all likelihood be done. But then watch out!
(61 comments) SHARE Saturday, December 1, 2012 Are Banksters & the Fed Becoming the Fourth Branch of Our Government?
Despite its pathetic propaganda encouraging us to practice doublethink, the Federal Reserve freely admits that it is privately owned, is a monopoly empowered by Congress, and that it operates independently from -- above? -- Congress and the president. Yet it pays its private undisclosed shareholders/owners huge dividends . . that it extracts from U.S. taxpayers! Here's how it does this.
(36 comments) SHARE Saturday, June 11, 2011 Will Obama and the Supply-siders Inadvertently Drag Us Into Another Great Depression?
Even as another Great Depression looms, our political/media system seems incapable of honestly addressing the crisis. Instead, the old partisan and lobbying games dominate politics, and obsession with trivia commands the media's limited focus. Creditor-friendly policies are crippling our economy: The attempt to protect the banksters from any losses is inflicting very large costs on everyone else. But can we stop this in time?
(11 comments) SHARE Sunday, December 26, 2010 The psychological, cultural & societal disintegration of America under post-industrial capitalism
What we're doing is trying to correct a massive socioeconomic problem, that results in disconnection and the loss of nurturing, by feeding our kids chemicals! Yes these stimulant drugs do seem to work, and a lot of kids are, in the short run, helped by them. The question is not so much whether these drugs should be used or not; the problem is that 80% of the time a kid is prescribed a medication, that's _all_ that happens.
(6 comments) SHARE Tuesday, October 5, 2010 How, exactly, did banksters swindle trillions from the middle class?
Over the last decade our government has essentially "de-supervised' America's financial sector and turned it over to the perpetrators of one of the largest swindles in history. This swindle originated with the securitization of tens of thousands of fraud-based mortgages, i.e. near-worthless mortgages that were fraudulently bundled together and (thanks to government deregulation and no supervision) sold, criminally.
(29 comments) SHARE Thursday, March 26, 2015 Why Our Government Needs to Take Over the Federal Reserve Bank ASAP
Taking over the Fed is the missing element needed to move humanity back from the brink of economic destruction and nuclear disaster, away from a future dominated by fraud, ugliness and warfare, toward a world of justice and beauty. Who gets the power to create money is the question that's at the heart of monetary reform, and this power is awesome, at times stronger than the executive, legislative and judicial powers combined.
(18 comments) SHARE Saturday, January 15, 2011 A simplified explanation of America's banking crisis and how it might be fixed
When a bank is insolvent, it doesn't have enough capital to cover its losses. In that situation, banks wd be doing the RIGHT thing by keeping the bailout money that we're giving them -- not loaning it out. An insolvent bank needs to hold onto their capital because that's how they fix their balance sheets. If they loaned the money out, they'd be in danger of returning to the very situation we're trying to rescue them from
(21 comments) SHARE Wednesday, June 9, 2010 An oligarchy at war with America
Unlike some countries, the US is not an ethic group. It is a collection of very diverse peoples united under the Constitution. However, when the Constitution was essentially gutted by the recent Bush administration, the US in some important ways ceased to exist. What exists today are power centers that are unaccountable. Elections mean nothing, as both parties are dependent on the same powerful interest groups.
(7 comments) SHARE Thursday, March 17, 2011 The End of Economic Growth
The economic crisis that began in 2007-2008 was both foreseeable and inevitable, and it marks a permanent, fundamental break from past decades -- a period during which most economists adopted the unrealistic view that perpetual economic growth is necessary and also possible to achieve. But there are now fundamental barriers to ongoing economic expansion, and the modern world is increasingly colliding with those barriers.
(8 comments) SHARE Tuesday, May 17, 2011 America's Shrinking Middle Class & the Banksters Who Are Helping the Process
Corporate stealing has become a kind of national pastime for the financial elite, and Goldman Sachs is far from the only company getting away with it. If the Justice Department fails to give us a chance to judge this case, and if Goldman skates without so much as a trial, it will confirm once and for all that the law in America has become subjective, and that crime is now defined not by what you did, but by who you know.
(9 comments) SHARE Wednesday, June 17, 2009 Why the Coming Crash Will Be More Severe than the Great Crash of 1929
Since the "Reagan Revolution" of 1981 ("don't tax and spend, just borrow and spend"), our federal government has borrowed and spent way too much. Even worse, it borrowed most of it during so-called "good times," and did so on a scale once reserved for the rare Keynesian stimulus needed to combat serious recession. Now that we're in a deep recession, we can't really afford to borrow more -- not without grave consequences.
(39 comments) SHARE Wednesday, May 8, 2013 Financial Experts with Great Prediction Records Are Saying Another Economic Meltdown is Imminent
Rickards explained his concerns at the Pentagon's Warfare Analysis Laboratory. He was asked by generals to carefully lay out this "Economic Pearl Harbor" scenario that allegedly stems from a financial war that our very own leaders have (inadvertently?) started, and which is now precipitating a global counterattack that nobody on Capitol Hill, at the Treasury, or at the Federal Reserve wants to talk about or even acknowledge.
(6 comments) SHARE Friday, January 28, 2011 Toward a better understanding of exactly how the banksters are stealing trillions from us
At least eight U.S. states are considering proposals to start state-run banks in the wake of an economic crisis where many private banks ceased or greatly decreased their lending, literally shrinking the money pool available in state economies.
Economist Ellen Brown, author of "Web of Debt", has been writing commentaries on various websites and runs a Google Group that has been pushing the idea of state-run banks.
(11 comments) SHARE Sunday, July 28, 2013 Stunning letter to Obama from Snowden's father
Thoreau's moral philosophy found expression during the Nuremburg trials in which "following orders" was rejected as a defense. Indeed, military law requires disobedience to clearly illegal orders. A dark chapter in America's World War II history would not have been written if the then United States Attorney General had resigned rather than participate in racist concentration camps imprisoning 120,000 Japanese American citizens
(3 comments) SHARE Friday, December 4, 2009 United States of America, Chief Kingpin in the Afghanistan Heroin Trade?
The American mission in Afghanistan has devolved to a Mafiosi-style arrangement that poisons every military and political alliance entered into by the U.S. and its puppet government in Kabul. It is a gangster occupation, in which U.S.-allied drug dealers are put in charge of the police and border patrol, while their rivals are placed on American hit lists, marked for death or capture.
(21 comments) SHARE Wednesday, November 28, 2012 Manufacturing Break-though, Based on 3D 'Printing,' is About to Change the World
According to several well-known periodicals within the mainstream media, many experts now believe a revolutionary new 3D-printer technology will trigger the rebirth of US manufacturing and put an end to the "Made in China" era. There are three cutting-edge American companies at the forefront of this revolutionary technology. The New York Times says,
"3D Printing is Spurring a Manufacturing Revolution."
(28 comments) SHARE Thursday, January 7, 2010 Is Obama a captive of America's most powerful banks and corporations?
There are obvious reasons for preventing commercial banks (now allowed to carry the hard-earned savings of depositors and a federal guarantee of their worth) from engaging in the high-roller risk-taking of investment banks. If even John McCain now understands this, one must ask why doesn't President Obama? The answer may well be that our president is essentially a captive of the banks that can kill his bid for a second term.
(5 comments) SHARE Friday, February 26, 2010 Matt Taibbi: The banksters are about to make another big killing, once again at our enormous expense
The banksters are back, conniving and playing speculative long shots, this time with the full financial support of the government. In the process, they're re-creating the conditions for another crash, once again playing the same crazy games of financial chicken with the same toxic assets as before, in a frenzy of high-stakes con-artistry, with us being bilked out of billions by way of a dizzying array of hustles and cons.
(8 comments) SHARE Saturday, July 2, 2011 From Democracy to Kleptocracy: What's Being Stolen From Us and How
The domination of the political process and the economy, by a financial cartel, was masked by a welter of purposefully obfuscating legislation. This is of course the exact same trick Wall Street used to cloak the risk of the mortgage-backed derivatives it sold as "low risk" AAA rated securities: By design, the instruments were so complex that only the originators understood how they worked. Banks now rule & own ever more.
(18 comments) SHARE Monday, June 6, 2011 Tracking, Explaining and Understanding the Cleverly Organized Crimes of Banksters
As America girds itself for another round of lunatic political infighting over which barely-breathing social program or urgently necessary federal agency must have their budgets put on the chopping block, so as to enable billionaires to keep their third boats and fourth homes in top shape, it's important to point out just how scarce money **isn't** when it comes to socialism for the rich.
(15 comments) SHARE Tuesday, August 23, 2011 How Oligopoly Plus Oligarchy is Leading to "Corporate Communism" in America
We reject communism because it has always allowed a tiny group of people to consolidate control over national resources (including people), in the process ending competition, freedom and choice. It leaves its citizens stagnating under perpetually broken systems with no motivation to innovate, improve services or reduce costs. Lack of choice, unresponsive customer service, a culture of exploitation. Does this sound familiar?
(33 comments) SHARE Wednesday, January 5, 2011 Why are so many Americans unemployed and underemployed? And what could we do about it?
No able bodied person in the US should be denied either employment or the basic necessities of life, especially housing, food, medical care, primary education, electricity, water and the like. Anyone should have the opportunity to work in these various fields of cooperative endeavor. Assume that reasonable standards of efficiency and organization could (with the help of modern technology) be maintained. Here's how.
(1 comments) SHARE Wednesday, April 4, 2012 Chemicals in your food that may well cause heart disease, diabetes, BPH and cancer
Bisphenol-A, a controversial chemical used in the lining of nearly all cans used by the food&beverage industry, got a reprieve from the gov't last week. Responding to a court order to decide on the Natural Resources Defense Council's petition to ban the stuff on the grounds that it causes harm even in tiny doses, the FDA rejected the petition and upheld its approval of BPA, thereby saving the food industry billions.
(13 comments) SHARE Monday, July 25, 2011 The Kucinich Plan for National Economic Reform and Recovery
Rep. Kucinich says Congress must direct the Treasury Department to issue US Notes (like Abe Lincoln's Greenbacks, but which would also be issued in electronic deposit form) to pay off the National debt. He says the US must also increase the reserve ratio that private banks are required to maintain from 10% to 100%, thereby ending bankster ability to create money out of thin air and then loan this funny money out at interest.
(12 comments) SHARE Monday, June 18, 2012 The Ongoing Multi-Trillion Dollar Heist That Continues to Shrink America's Middle Class
Remember how the mafia used to tell businesses to either pay up or your business will be ruined? What we have here is the new mafia, on a global scale. The main difference is that their names are not Italian. The 2nd largest difference is that the original mafia were pikers and tiny tots by comparison. The 3rd largest difference is that the new mafia essentially owns our gov't & can hire the best attorneys in the world.
(40 comments) SHARE Saturday, August 16, 2014 By What Means Have Income and Wealth Steadily Been Transferred to the Rich?
This transfer has mainly occurred by way of employers making sure that the profits and benefits of ever greater worker productivity (which advancing machinery and technology steadily provide) is rarely if ever shared with workers in the form of a reduced workweek and/or a higher hourly wage. Instead, this ongoing stream of newly created wealth is continually directed upward into their elite pockets.
(8 comments) SHARE Monday, December 24, 2007 Hyperconsumption, global warming, and the fall of basic-goods buying power among the middle class
American workers are slowly becoming enslaved to the superrich, the rich, & even to our own consumer addictions. The more we work, the more we feel compelled to buy. The more we buy, the more we're compelled to work. Meanwhile our environment suffers the ever worsening consequences. Solution: Allow those who want to, to work, efficiently & cooperatively, only on the production of the basics, which they can then share.
(12 comments) SHARE Tuesday, March 22, 2011 The War On Truth: 9/11, Disinformation and the Real 'Terrorists' in America
This report tars the CIA & FBI, the US & UK, claiming that they either knowingly or unwittingly supported, aided, and abetted terrorists, and that the main purpose for allowing 9-11 to happen was so that it could serve as a rationale and/or cover for:
the invasion of Afghanistan and Iraq, the trashing of the Bill of Rights, the clamp down on civil liberties, and
the continuing transfer of wealth to the top 1%.
(47 comments) SHARE Saturday, March 29, 2008 Saudi Newspaper: Prepare for radioactive fallout from US nuclear attack on Iran
Bush sends nuclear sub to Gulf. Cheney then visits Saudis, who in turn prepare plans to deal with "any sudden radioactive hazards" that may arise from a US attack on Iran's nuclear reactors. This was reported by a top Saudi newspaper, Okaz, and relayed by a leading German news service, DPA. (Nothing in Saudi Arabia becomes the top news story without government approval.) Experts say a US nuclear attack is very likely.
(7 comments) SHARE Tuesday, July 21, 2009 To what extent do Goldman Sachs and other big banks control Congress, the White House and the stock market?
Our attorney general needs to open an investigation of Goldman Sachs' behavior in the area of securities fraud, insider trading, and misuse of government funds. Without an official inquiry into financial misconduct of this company, and others, public anger & confusion will likely overwhelm any attempts to transform our contracting economy and Obama's ability to manage it. And that's just the way boss Goldman wants it.
(11 comments) SHARE Friday, January 27, 2012 Wall Street's Dirtiest Deals Show Why Our Economy Fell Apart
After cutting a mile-wide swath of losses through the US economy, helping destroy two venerable firms (Bear and Ambac), bilking the taxpayer for untold millions, this man is also named in a lawsuit filed by the Federal Housing Finance Agency for allegedly speeding bad loans onto securitization before they defaulted, and he is now living the contented life of a proud family man, happily spending the millions he stole.
(24 comments) SHARE Sunday, November 21, 2010 As the US spirals downward, a growing percentage of Americans seem all too willing to turn a blind eye
Why is America such a paradise for high-class thieves? Just look at the way a manufactured movement like the Tea Party corrals and neutralizes public anger that otherwise should be sending pitchforks in the direction of downtown Manhattan. There are two reasons why Tea Party voters will probably never get wise to the Ponzi-scheme reality of bubble economics. One has to do with the basic sales pitch of Tea Party rhetoric
(3 comments) SHARE Thursday, September 3, 2009 In The Event Of A Contrived Emergency, Plans For A Totalitarian Takeover?
After receiving concerned communications from constituents, in July 2007 U.S. Representative and Homeland Security Committee member Peter DeFazio made an official request to examine the classified Continuity Annexes in a secure "bubbleroom" in the United States Capitol. His request was denied by the White House, which cited "national security concerns." This was the first time DeFazio had been denied access to documents.
(5 comments) SHARE Friday, September 25, 2009 Wall Street theft on a scale unimagined, and Obama wants to keep it covered up
This economic and financial meltdown originated from & is even now being driven by fraud. Massive fraud. The essence of fraud is, "I gain your trust so as to get you to give me something of value on the promise that I will provide something of greater value for you, and then I betray your trust." And there's no more effective way to destroy trust in an entire society than by way of fraud systemically perpetrated by elites.
(2 comments) SHARE Thursday, October 27, 2011 Economist Ravi Batra Offers Some Political-Economic Insights To The Occupywallstreeters
OWS protesters, your efforts can not only determine the outcome of the 2012 elections, they could also end the brutality of the rich & powerful, who are responsible for the sorry state you (and most Americans) are now in. The change you can bring would be tantamount to what Abraham Lincoln did for black Americans. With enough pressure and support from you, Mr. Obama will be moved to help you change this country.
(41 comments) SHARE Thursday, December 6, 2012 What We Could Accomplish in the USA with Interest-Free, Government-Issued Currency
Globally, 40% of banks are publicly owned, mostly in Brazil, Russia, India and China. By 2040, the 'BRICs' will overtake the G6. Their banks work for the benefit of the public instead of for banksters. In these nations, there is no inflation & no gov't debt. In the past 24 years, the US has paid $8 trillion in interest on what is now a $15 trillion debt. With publicly owned banks, this loot could have been much better spent.
(5 comments) SHARE Saturday, January 2, 2010 Big banks bundled toxic debt, sold it to rubes, then bet against it and won big
How these disastrously performing toxic securities were devised, and with what ultimate purpose or plan, is now the subject of scrutiny -- by investigators in Congress, at the Securities and Exchange Commission, and at the Financial Industry Regulatory Authority, Wall Street's "self-regulatory" organization.
(13 comments) SHARE Friday, June 26, 2009 Threats to the American empire, from an engineered bankruptcy?
The current mass delusion that will go down in history as the "green shoots fugue" can't possibly bring the credit freak show back because the credit -- i.e. money borrowed from the American future -- was swindled away. Something like $14 trillion worth of nominal dollars is being sucked into a cosmic vortex never to be seen again. It was last seen in the spectral forms of so many collateralized debt obligations, etc.
(17 comments) SHARE Monday, March 26, 2012 The Coming Financial Collapse in Europe?
Between 2008 and 2011, Iceland: a) had its banks default on $85 billion in debt, an amount that is more than 6 times the size of the country's annual GDP ($13 billion). (The debt of most advanced countries is nowhere near that multiple of its GDP.), b) jailed the bankers responsible for committing fraud during the bubble, c)
gave Icelandic citizens debt forgiveness equal to 13% of GDP! Greece could do the same, and might.
(9 comments) SHARE Sunday, October 7, 2012 The Real Republican Agenda Exposed
Of the $5.3 trillion in cuts Romney and Ryan have proposed, nearly 2/3rds come from programs for the poor. But when it comes time to eviscerate the rest of the federal budget, i.e. funding for things like drug enforcement and public schools, Congress will never cut those programs that deeply. In other words, the rich will get their tax cuts, the poor will remain destitute, and America will be driven ever deeper into debt.
(14 comments) SHARE Thursday, November 25, 2010 The New Civil War: Banksters vs. Middle-class Homeowners and Workers
Property rights are the very foundation of America's capitalist system, yet for many Americans those property rights are being taken away by banks that are in collusion with Congress by way of the money-bearing lobbyists the banksters hire to essentially buy the legislation they need from Congress. If it becomes the prerogative of banks and Congress to give and take away property rights, what will have become of America?
(6 comments) SHARE Sunday, February 20, 2011 Why didn't any banksters go to jail? -- and other mysteries of the U.S. political economy
Millions of Americans went into foreclosure and a great many lost their homes, just as millions more will. Millions lost their jobs, in part because of the falling real estate values and the greatly reduced spending of those who either lost homes or feared they might. Meanwhile, the banksters who sold these predatory loans and the bogus securities based on them, are living like kings and will in all likelihood continue to
(34 comments) SHARE Sunday, July 3, 2011 Should the Federal Reserve be Nationalized and Fractional Reserve Banking Ended?
"Banking was conceived in iniquity and born in sin. Bankers own the earth. Take it all away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it all back again. However, take the power to create money away from them, and all the great fortunes will disappear - and they ought to disappear, for this would then be a happier and better world." - Josiah Stamp
(10 comments) SHARE Sunday, December 25, 2011 European Economy in Dire Straits, and the US Too. How So, Why So?
Central banks create the easy money & lax regulatory environments where bubbles emerge & provide limitless liquidity so that their bankster pals don't lose money on the inflated value of their assets. That's what the recent $640 billion boondoggle was really about: propping up toxic bonds worth a mere fraction of their original value. Financial theater & the show must go on. The truth wd. bring down the entire house of cards.
(7 comments) SHARE Tuesday, April 27, 2010 The Wall Street Takeover and the Next Financial Meltdown
An investor in this deal would obviously want to know if this portfolio had been secretly put together not by ACA Management, but rather by the manager and owner of an extremely successful hedge fund, whose sole criteria for selecting the securities to be included were that they must have the greatest likelihood of failing and failing soon. Instead, the investors were told something very different.
(19 comments) SHARE Thursday, July 22, 2010 The root causes of today's economic crisis and why it's not going away
In the 1970s, wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown. By placing the crisis within this larger historical and systemic frame, we can see that the proposed government "bailouts," stimulus packages, and calls for increased market regulation will not be enough to address the real causes of the crisis.
(17 comments) SHARE Wednesday, September 8, 2010 Our Long National Nightmare Isn't Over, It's Just Beginning
The Dems will get slaughtered in November's election. This will happen not so much because of the "socialist' crimes they are alleged by the right to have committed -- which are of course utter nonsense -- but simply because of what they have *not* done, which is to aggressively pursue real solutions to the nation's problems. Then Obama will be hounded by congressional investigations into all manner of bogus issues.
(14 comments) SHARE Sunday, December 12, 2010 Olbermann's tirade on how Obama has betrayed both his base and his country
It is not disloyalty to tell a Democratic president he is wrong. It is not disloyalty for the unemployed to rally in the streets of Washington. It is not disloyalty to remind the president that he was elected by people to whom he had given a clear outline of what he would do for them, and if he does not steer out of the skid of of what he is doing to them, he will not only not be re-elected, he may not even be renominated.
(14 comments) SHARE Tuesday, April 3, 2012 Paul Craig Roberts' stunning insight into the peculiar nature of American empire
George W. Bush and Barack Obama have doubled the national debt, and quite incredibly the American people have derived no benefits from it. No riches and no bread and circuses flow to Americans from Washington's wars. So what was it all about? The answer is that Washington's empire extracts resources FROM THE AMERICAN PEOPLE THEMSELVES -- for the benefit of the few powerful interest groups that rule America.
(15 comments) SHARE Sunday, March 18, 2012 Why Wall Street must crash, must hit bottom
What follows here are the 10 characteristics of the self-destructive, addictive personality. As you read each of the ten & also the paragraph that follows each one, about what's happening on Wall St. today, you'll see why the Street's collective mental state is so damaged that it's on track to hit bottom, crash and burn, in a meltdown more damaging than 2008. Yes, the Wall St. crowd will take down the rest of America with it.
(4 comments) SHARE Sunday, August 31, 2008 Former McCain Insider Charges Election Fraud. Implicates McCain, Bush, Cheney and Rove
A lifelong Republican, erstwhile member of McCain's campaign, and a prominent expert on computer fraud, Stephen Spoonamore has copious hard evidence revealing that Bush/Cheney stole a number of key races, starting with Florida eight years ago. He has named names, and has the goods to back up every claim. Plus, he knows quite a lot about the plans to use illegal methods to make McCain America's next president.
(14 comments) SHARE Sunday, December 5, 2010 Griftopian thievery, Tea Party ignorance, and the disappearance of the American dream
Forget about the $700 billion dollars in federal aid known as TARP that went to the banksters back in 2008 -- that was just the tip of the iceberg. According to new secret documents recently released by the Federal Reserve, between 2007 and this year the Fed pumped more than $3 trillion into the hands of banks and businesses. Most of that money came in the form of short term lending, at near zero percent rates of interest.
(43 comments) SHARE Monday, February 2, 2015 The Origins, and Decimation of, America's Great Middle Class. And What to Do About It
The large, thriving middle class, which America used to have, didn't just arise out of the blue--it was created using an economic tool that was essentially socialistic. After WWII, our gov't taxed the rich heavily, & massively redistributed that money through the GI Bill, so that an unprecedented half of our population suddenly started benefiting from free college, free job training, cheap mortgages & affordable medical care.
(13 comments) SHARE Wednesday, August 18, 2010 Have Republican economic policies once again made a Great Depression inevitable?
What began three months ago as a $50 billion emergency spending bill limped to the president's desk at half that size and was largely paid for -- "offset'' in the clinical terminology of the budget -- by cutting $12 billion from the food stamp program! In other words, a measure designed to help one group struggling in the recession came at the expense of another group that is even worse off -- and getting worse rapidly!
(19 comments) SHARE Thursday, July 12, 2012 Moyers & Taibbi Explain How the Wall Street Mafia Holds America and the World Hostage
Consider the systematic rigging of municipal bond auctions, which have essentially robbed every community in every state in the country. All of the major banks were involved, including JPMorgan Chase. They were rigging the auctions that were designed to create a fair rate of return on the money local governments borrowed for municipal bonds. This is a lot like something the mafia does.
(22 comments) SHARE Saturday, January 25, 2014 Must Oligarchy and Technological Unemployment Continue to Decimate the Middle Class?
Once the oligarchy takes power, the distribution of goods & money becomes ever more unrelated to any idea of merit or deservedness. Example: Banksters, being some of the best-paid people in the world, have recently destroyed far more wealth in the US than they’ve earned, and yet they are still paid billions in bonuses each year. They receive the money they do because they’ve been allowed to take power over our gov't.
(24 comments) SHARE Monday, February 13, 2012 Corporations and Banksters Issue a Death Sentence for Greece
What Greece needs is a radical restructuring of its debt. It needs to wipe out bondholders, recapitalize its banks & increase fiscal support until the economy gets back on its feet. Another loan package won't help & will only delay the day of reckoning. It would be better if the country defaulted quickly and began the process of digging out now rather than later. But the corporate hyenas will not be denied their feast.
(5 comments) SHARE Saturday, April 18, 2015 Is Hyperinflation in Our Near Future? Recent Developments Suggest It May Well Be
Over the past two years, the US has slashed oil imports from the Saudis. The increase in American oil production has led to a 62% collapse in global oil prices. This has obliterated Saudi profit margins. In response, a Saudi-led coalition has developed an "oil weapon" it plans to unleash on us. By this means they plan to once again be the world's preeminent oil profiteers, while knocking us down a peg or two in the process.
(18 comments) SHARE Saturday, January 29, 2011 Double Dip In Housing Market Caused By Failure to Prosecute Mortgage Fraud
As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail. And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals -- and instead bailing them out -- creates incentives for more economic crimes and further destruction of the economy in the future.
(5 comments) SHARE Saturday, June 18, 2011 How and Why Is a Real Democratic Agenda Being Suppressed?
Behind the smoke screen of the news cycle, there are several genuinely excellent pieces of legislation that remain more or less entirely shrouded from public view. The bills described below are among the more progressive efforts underway in our 112th Congress, with sponsors and co-sponsors representing both sides of the aisle. And they warrant far greater attention than they're getting. So why aren't they getting it?
(22 comments) SHARE Sunday, May 22, 2011 Must Globalization & Computerization Lead to Ever Fewer Good Jobs for American Workers?
Without more workers paying taxes, we will never have the tax revenues we need to fund even limited government. We squander far too much on tax breaks for the rich, subsidies for oil companies, wars conducted by our "Defense" Department, and tax exemptions and deductions for the upper-middle and upper classes. Meanwhile we spend far too little on the investment programs that will create good new jobs for the future.
(9 comments) SHARE Tuesday, November 20, 2007 In Preparation for Prosecution and/or Armageddon, Bush Buys 99,000-Acre Ranch in Paraguay
The Bush clan knows that things might go real bad real soon -- both for Georgie, for America, and for the Mideast. Therefore the Bushes are making plans for escape. American men no longer want to serve in Iraq; ever more are deserting and none are enlisting. Result: the Pentagon is desperately trying to recruit Latin Americans to fight this war for us. Meanwhile massive recession looms, largely as a result of oil scarcity.
(7 comments) SHARE Tuesday, March 6, 2012 Bill Gates' $27 Million Idiocy: Helping Monsanto Spread Genetically Modified Crops
The Gates' Foundation's direct investment in Monsanto is problematic on two primary levels. First, Monsanto has a history of blatant disregard for the interests and well-being of small farmers around the world, as well as an appalling environmental record. The strong connections to Monsanto cast serious doubt on the Foundation's heavy funding of agricultural development in Africa and purported goal of alleviating poverty.
(10 comments) SHARE Monday, July 2, 2012 Are We About to Be Enslaved by the Central Banks of the World?
For a 25-cent investment, the US gov't is a $1 billion richer & the banksters at the Fed have an additional $1 billion in bonds thru which they can begin to extract large amounts of interest payments from the rest of us. Where exactly does the money come from that's used to pay this interest, which ultimately ends up in the pockets of the banksters? Ultimately it comes from taxpayers like you & me, who must work to earn it.
(13 comments) SHARE Tuesday, February 22, 2011 The Continuing Republican Effort to Fracture and Thereby Politically Disable America's Great Middle Class
Repub strategy: a budget battle to shrink government, focused on programs the middle class depends on; state efforts to undermine public employees whose services the middle class depends on; a Supreme Court dedicated to bending the Constitution so as to enlarge and entrench the politicaleconomic power of the wealthy. The goal: pit working Americans against one another & call attention away from wealth concentrated at the top.
(12 comments) SHARE Tuesday, December 25, 2012 Is Our Economy Being Artificially Maintained and Propped Up? If So, How and Why?
Smoke and mirrors are used to make us believe the US economy is authentic, robust and sound. This is an illusion. We hear about ever more people begging for jobs and the politicians promising them, but short of another WPA/CCC program, or massive funding for a national infrastructure bank (neither of which House Republicans would ever permit), politicians can't (except by way of the military-industrial complex) provide them.
(8 comments) SHARE Saturday, May 1, 2010 How Europe Avoided an Economic Crisis that is Anywhere Near as Bad as Ours
Europe has more Fortune 500 companies than the US and China combined and had a higher per capita growth rate from 1998-2008 than the US. Long denigrated by US pundits as the land of high unemployment, the EU currently has a slightly lower unemployment rate than the US. Indeed, the World Economic Forum in 2008-09 ranked Denmark, Sweden, Finland, Germany & the Netherlands among the top 10 most competitive economies on earth.
(6 comments) SHARE Tuesday, October 25, 2011 Have Two Dying Banks Managed To Trick Us Into Paying For Their Next Bailout?
The Bank of America's holding company, BAC, has directed the transfer of a large number of "troubled' financial derivatives from its Merrill Lynch subsidiary to the federally insured Bank of America. Even worse, the Federal Reserve has supported this transfer even though the Federal Deposit Insurance Corporation (FDIC) opposed it. This outrageous action puts the public at substantially increased risk of loss.
(19 comments) SHARE Wednesday, February 9, 2011 Can We Stop the Continuing Decimation of America's Middle Class in Time? If So, How?
Employers faced with reduced demand for their products or services can either lay off workers or reduce their work hours. If they reduce their hours, the German government replaces most of the lost pay for these reduced hours. The worker keeps his job, with reduced hours, but his monthly pay is not appreciably reduced. The gov't uses unemployment insurance funds to cover much of the cost of such a work sharing program.
(7 comments) SHARE Sunday, February 26, 2012 How Wall Street Was Able to Profit from Trashing America's Mainstreet Economy
Here we have an exposé of the most breathtaking ruse in American politicaleconomic history: How right-wing multimillionaires, with the help of hucksters like Glen Beck and astroturf outfits like the Tea Party, were able to turn the biggest capitalist breakdown since 1929 into a huge opportunity, for themselves! Here's how people with ever lower incomes and ever more indebtedness, can be made to want lower taxes for the rich.
(4 comments) SHARE Sunday, January 6, 2013 Another Global Banking Crisis Now Taking Shape
It was all a lie, one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in, only temporarily, to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: we committed American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system.
(11 comments) SHARE Tuesday, December 8, 2009 Obama helps continue the right-wing war against America's middle class
The US is now using the Obama administration's 'stimulus' money to hire Chinese companies to build billions of dollars worth of American infrastructure! Why? Because the Chinese can do it cheaper than American companies and workers. In other words, to hell with American workers -- until they are willing to work for Chinese-level wages! We need more stimulus – for American workers, not for Chinese workers!
(12 comments) SHARE Saturday, May 28, 2011 The Wall Street Meltdown: Origins and Implications
More than four years after the cracks in the financial foundation could no longer be ignored, people remain bewildered about the causes of the steepest economic downturn since the Great Depression. And they wonder why we are still mired in it, as we are forced to watch the maddening aftermath: hundreds of billions of taxpayer dollars being spent to rescue some of the very institutions that drove the country into the ditch!
(1 comments) SHARE Saturday, September 17, 2011 Synopsis of a Wide-ranging, Recent, and Spot-on Chomsky Commentary
Chomsky here covers and ties together a wide range of issues, including the true cost of America's empire, the significance of Obama's recent jobs proposal, and the real reasons why corporate interests and conservatives are intent on demolishing extremely successful public programs like Social Security.
(20 comments) SHARE Thursday, May 29, 2014 George Monbiot: "The Dangers of Continued Growth Now Demand a New Economic System. ASAP."
The inescapable failure of a society built on economic growth & its inevitable destruction of the Earth's living systems are the 2 central, overwhelming facts of our age. Yet they are mentioned almost nowhere in our corporate-owned & controlled mainstream media. They are the 21st Century's great taboo realities, & also the subjects guaranteed to alienate your friends & neighbors should you make the mistake of bringing them up
(8 comments) SHARE Wednesday, February 26, 2014 Bill Moyers Discussion Calls Out Our Unelected, "Deep State," Shadow Government
The Deep State is the red thread that runs through the history of the last 30 yrs. Here are insights about how we came to have too much deregulation, the “financialization” of our economy, Wall Street & bankster rip-offs, erosion of our civil liberties, and perpetual war. Described are the derivative forces, methods and people that now surreptitiously guide and control our government, to extract billions from us.
(5 comments) SHARE Thursday, April 12, 2012 How and Why the Operations of the Fed Will Eventually Bring Down the Economy
How can the widening gap between ever more multiplied indebtedness, and productivity-backed money, be reconciled? It can't. This widening gap exists in an inherently unsustainable system, wherein ever increasing debt will eventually and inevitably eclipse the entire value of all the world's resources, assets, and productive effort - unless debt is simply forgiven. Or, we must come to terms with unsustainable debt-based money.
(12 comments) SHARE Friday, March 30, 2012 The present global crisis is not at its core an economic depression but rather a systemic failure
In the wake of the current crisis, more people are questioning the primacy of growth-at-all-costs. President Sarkozy, the Nobel-prizewinning economist Joseph Stiglitz, and elements of the Financial Times's commentariat are among those now arguing that prosperity is possible without GNP growth, and indeed that prosperity will soon become impossible because of GNP growth. In fact, a new movement seems to be emerging.
(27 comments) SHARE Sunday, May 18, 2014 What the 1% Don't Want You to Know
Invested capital tends to produce real returns of at least 6%, while economic growth is always much slower. Therefore fortunes based on those high returns grow faster than the economy & much faster than wages, which will continue to shrink (in terms of their buying power), as dynastic wealth grows steadily larger. These fortunes will then pass on to the next generation an even larger share than they would have in decades past.
SHARE Monday, January 31, 2011 Wall Street's "Inside Job," as laid out in a documentary film
From the early 1980s, when Ronald Reagan deregulated banks, through the two Bushes, Bill Clinton and now Barack Obama, each administration has endorsed -- and each Congress has helped tweak -- laws and rules that made systemic financial industry criminality and the economic meltdown not only possible but inevitable.
(3 comments) SHARE Thursday, August 27, 2009 This Isn't a Recession, It's a Planned Demolition
Working folks are not being crushed by accident, but by design. Bernanke knows that sustained demand requires higher wages and a vital middle class. But Bernanke works for the banks and big investors, not the middle class as a whole. "Bubblenomics" is not the way to a strong/sustainable economy, but it is an effective tool for shifting wealth from one class to another, albeit at the expense of overall economic health.
(5 comments) SHARE Tuesday, December 20, 2011 The coming run on European banks and the resulting crash of the European (and US?) economies
BofA's beleaguered bank's shares crashed through the psychologically important $5 mark yesterday, the lowest they've traded since March 2009. Other bank stocks including Morgan Stanley fell even harder as investors fretted on renewed concerns about bank capital cushions and a darkening economic outlook in Europe. This is like a fire in a 10-story building. It's burning through each floor as investors dump their shares.
(8 comments) SHARE Thursday, September 6, 2012 Revolt of the Rich: Have Our Financial Elites Already Seceded from America?
Our plutocracy now lives like the British in colonial India: in the place and ruling it, but not of it. If one can afford private security, public safety is of no concern; if one owns a Gulfstream jet, crumbling bridges cause less apprehension--and viable public transportation doesn't even show up on the radar screen. With private doctors on call and a chartered plane to get to the Mayo Clinic, why worry about Medicare?
(14 comments) SHARE Wednesday, March 10, 2010 To what extent are rigged bond auctions being used to 'finance' our 'economic recovery'?
The Fed and Treasury don't want any more failed bond auctions, which is why they've taken their swindle to a whole new level -- by deciding not just to fake the "success" of the recovery, but to fake the success of the bond auctions that are supposed to pay for it! How are they doing this? -- by transferring billions under the table, to our nation's lenders, and then paying them interest while we borrow back our own cash!
(13 comments) SHARE Tuesday, July 21, 2009 Capitalism as cancer, and the new economy that could emerge from its eradication
Our recent credit collapse has drawn back the curtain to reveal the inner workings of Wall St., and it begins to look less like legitimate business enterprise & more like a criminal syndicate running a lucrative extortion racket. The nearest equivalent in nature is a cancer that drains the body's energy, but produces nothing useful in return. You don't 'fix' a cancer; you excise it & rebuild healthy tissue that surrounded it.
(5 comments) SHARE Wednesday, November 4, 2009 The Trillion Dollar Bank Job Continues Under Our Noses
We were told we had to bail the big banks out so they would start putting money back into our communities, and then our jobs and our homes would be saved. So taxpayers bailed them out. A year later, what have we got for that investment? From each and every man, woman, and child in the US, there has been a wealth transfer of about $15,000 to our bankster overlords. But they didn't hold up their end of the bargain.
(49 comments) SHARE Thursday, March 21, 2013 The Central Role of Central Bankers in the Wars of the Past Two Centuries
As long as the predation of privately-owned central banks is allowed to continue, there will be poverty, hopelessness, and millions of deaths in endless wars. The path to peace on Earth lies in the abolition of all private central banking everywhere, and a return to the government-issued, value-based currency on which this nation was founded, which will help nations and people everywhere to prosper, without war.
(17 comments) SHARE Saturday, June 19, 2010 Al Franken Slams Supreme Court For Dismantling Legal Protections
In the Citizens United decision, the Supreme Court didn't just abdicate its duty to subject efforts to impair our political process to strict scrutiny. It served as an accomplice to such an effort.
Not satisfied with giving orporations a leg up on individuals under the law, the Roberts Court is trying to prevent the American people from fighting back.
If that isn't anti-democratic, what is?
(13 comments) SHARE Monday, January 17, 2011 Will banksters, corporados & their handmaidens in Congress wreck America?
The window for possible change is rapidly closing. Healthcare, Afghanistan and the terrorism panic have exhausted Washington's already limited capacity, especially in an election year. The White House's chief economist, Lawrence Summers, repeatedly announced that "everybody agrees that the recession is over" -- which is technically true from an economist's perspective and certainly true on Wall Street. But not on Main Street
(5 comments) SHARE Tuesday, December 15, 2009 Was Organized and Systemic Fraud Perpetrated by Banksters?
A Wall Street Journal investigation reveals that Goldman Sachs was not only a willing participant in, but an "architect" of, the scam that broke the world's economies. The claim is that Goldman Sachs played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American International Group (AIG).
(20 comments) SHARE Friday, July 8, 2011 America's Road to Fascism?
The downward spiral for America's great middle class is being forced to continue, so that ever more of the nation's capital and wealth can be directed to the top 1% of income receivers and wealth holders, who already own an unprecedented share of the nation's wealth and assets. This process, which now seems almost unstoppable, will inevitably lead to open rebellion, if not to outright fascism in the following clampdown.
(13 comments) SHARE Tuesday, August 28, 2012 How and Why Is Global Corporate Capitalism Obsolete?
Only half the civilian population is now employed. 12 years ago it was 64%. Result: 23 million of us can't find work. Since Jan. 2009, 3/4 of all new jobs created in the US were in the lowest-paid sector. This stifled any chance of upward mobility or growth in median income, which fell by 9% since Jan. 2009, as average household wealth dropped by 40%. Since 2000, most jobs either moved overseas or are now being done by robots.
(14 comments) SHARE Tuesday, December 3, 2013 Zombie Politics & Culture in the Age of Casino Capitalism
We live in a society whose political, media, & financial institutions are without a soul, most the members of which society walk in a world in where the lust for power & wealth corrupts absolutely, & sucks away real life. It's not just that rich people now control the economy & all the commanding institutions of society. What you have is basically a transgression against, & abandonment of, the basic ideals of democracy.
(11 comments) SHARE Saturday, January 21, 2012 Will Saving the Environment Require a Shorter Work Week?
Our current economic system, fed by carbon-based energy and other resources consumed at ever faster rates at one end, spews out waste products at rates that cannot be absorbed by Earth's ecosystems at the other, and is unsustainable. What that means is simple: Industrial society as we know it cannot go on as it has. Any rational analysis tells us that the first thing that's "gotta give" is the 40-50 hr. workweek.
(4 comments) SHARE Sunday, January 9, 2011 Monumental insider bank robberies and the ongoing decimation of America's great middle class
Are millions of American taxpayers the victims of a Wall Street criminal conspiracy? To begin to answer that question, we must first pose several others: Who benefits from the weak American social safety net? Who profited from the taxpayer-funded Wall Street bailout? Why is the American criminal justice system sitting on its hands and doing nothing about what Der Spiegel correctly calls a "monumental insider bank robbery"?
(28 comments) SHARE Friday, December 20, 2013 Class Warfare Today, and How the Working Class Has Been Robbed Over the Past Half Century
As the financial industry extracts ever more wealth from society, the working class has not been properly compensated for its rising productivity. As a result, our median inflation-adjusted household wealth has dropped from $73K to $57K in a little over 25 yrs. We've lost another 5% of our wealth just since the recession. Meanwhile, the poverty rate (among the poorest 1/2 of those beneath the poverty line) keeps worsening.
(6 comments) SHARE Saturday, November 26, 2011 A Solution for the Mortgage Crisis & Financial Meltdown
According to the U.S. Constitution, Congress is supposed to create and control our money supply. So why doesn't it? The power to create and control the supply of money is the most important human power on earth. So why did the US government, in direct violation of the U.S. Constitution, **give it away** to a privately-owned third party, a cartel euphemistically and misleadingly named the U.S. Federal Reserve Bank?
(29 comments) SHARE Sunday, June 12, 2011 In Romantic Relationships, Who Are More Accomplished and Successful as Manipulators? Men or Women?
Here are two parallel stories that are meant to be compared and discussed. The first one is about an older man who temporarily reunites with a younger and very attractive, but manipulative woman with whom he was once romantically involved. The second story, following it, has the exact same wording, and describes the exact same events, but the roles of the man and the woman are reversed. Your thoughts please.
(2 comments) SHARE Wednesday, December 23, 2009 Moyers talks with Matt Taibbi and economic historian Robert Kuttner
Our capitol's being looted, Republicans are acting like the town rowdies, the sheriff is firing blanks, and powerful Democrats in Congress are in cahoots with the gang that's pulling the heist. This is not capitalism at work. It's _capital_ at work -- raw money, mounds of it, buying politicians and policy as if they were futures on the hog market.
(3 comments) SHARE Sunday, February 12, 2012 How the Banksters Got Away With the Biggest Crime of the Century
CFMA not only legalized the casino capitalism of super-risky "swaps' and collateralized toxic vapor, but also made it illegal to _regulate_ the casino. Ex-Sen. Phil Gramm had the audacity to accuse Americans of being "whiners" for objecting to the theft of their life savings and homes! He also authored the anti-regulation modification that was tacked on to CFMA before it snuck through the Senate at midnight.
(5 comments) SHARE Monday, July 29, 2013 Is there an invisible government, parallel to the one we foolishly think of as a democracy?
Two governments: the one its citizens are familiar with, operated more or less in the open; the other a parallel top-secret government whose secret parts have mushroomed in less than a decade into a gigantic, sprawling universe of its own, visible to only a carefully vetted cadre. It's guided in some respects by its own court, known as the FISA court, which according to the NY Times has become almost a parallel Supreme Court.
(5 comments) SHARE Friday, May 28, 2010 Housing prices will keep falling. Here's why.
If the number of foreclosed homes piling up at banks is any indication, there's ample reason for concern re: home prices. As of March, banks had an inventory of about 1.1 million foreclosed homes, up 20% from a year earlier. Another 4.8 million mortgage holders were at least 60 days behind on their payments or in the foreclosure process, meaning their homes were well on their way to the inventory pile.
(7 comments) SHARE Thursday, June 14, 2012 Why do white collar criminals, especially banksters, have so little to worry about in the USA?
Fully 75% of nontraditional loans made by our biggest banks were liar's loans. Therefore hundreds of these banks and their senior officers should now be facing prosecution, yet this isn't happening. Why not? Could it have something to do with the fact that these banks are currently allowed to contribute many millions of dollars to the political campaign funds of our president and members of Congress?
(8 comments) SHARE Friday, July 30, 2010 Why little Timmy Geithner is afraid of big bad Liz Warren
Unless Liz Warren is defeated and banks are thereby allowed to continue raising fees and charges on their customers, Geithner's & Summers' scheme for dealing with the banking crisis by hiding problem loans permanently will be exposed for what it is: an attempt at preserving the jobs and stellar incomes of bank executives -- at the cost of dragging out this recovery needlessly for years, perhaps a decade or more, as in Japan.
(3 comments) SHARE Saturday, September 20, 2008 The American road to socialism (for the rich)
The rich and powerful spend years making foolish deals in a market they rigged with the connivance of utterly corrupted politicians on both sides the aisle; their fraudulent scheme finally collapses, exposing them to some of the most horrific financial losses in history....and YOU will have to pay for it. For generations. Not only directly, with the tax money straight from your pocket.
(2 comments) SHARE Thursday, May 22, 2008 What links did Mohammed Atta have to Cheney & the Pentagon?
New evidence that Mohammed Atta was connected to the Pentagon's Special Operations Command (SOCOM). In addition, more evidence that a top-secret Pentagon project code-named "Able Danger" identified Atta as a member of an al-Qaeda cell more than a year before the 9/11 attacks. So why did the Pentagon prevent his arrest? And why was the FBI so reluctant to inspect Zacarais Moussaoui's laptop computer until after 9/11?
(8 comments) SHARE Friday, March 9, 2012 David Stockman: More Reasons to Be Pessimistic About the US Economy
The reason Stockman is so down on the US economy is that it's become super-saturated with debt. Typically the private & public sectors would borrow $1.50-$1.60 a year for every $1 of GDP growth. It had been at that ratio for 100 yrs. But by the time we got to the peak in 2006 or 2007, we were actually taking on _$6_ of new debt in order to grind out $1 of new GDP.
However, by the time we got to the mid-'90s, we were
(15 comments) SHARE Tuesday, November 4, 2008 To what extent are the markets being rigged?
Welcome to the behind-the-scenes world of The Plunge Protection Team, a largely secret group of bankers and government bigwigs that exert a surprising degree of control over the stock market. "The Dow is a dead banana republic dictator in full military uniform propped up in the castle window with a mechanical lever moving the cadaver's arm, waving to the Wall Street crowd."
(4 comments) SHARE Friday, December 9, 2011 Republican Misinformation, Scams & Delusions, and the Best Ways to Combat Them
Bring back Glass-Steagall to once again keep investment banks separate from savings banks. Implement Eliot Spitzer's five steps, so that banks are much more tightly regulated, controlled and supervised. Follow northern Europe's example by spending a greater percentage of our GDP on social services. Raise marginal tax rates back up to the level they were at during those periods of US history when economic growth was maximum.
(4 comments) SHARE Wednesday, March 2, 2011 All Wars Are Begun With Lies, Continued With Lies, and Later Explained With Lies
Behind the fear-mongering, flag-waving and lies of George W. Bush and the blandishments of Ronald Reagan and Barack Obama lies the ugly reality that our leaders have been seduced by political ambition, delusions of military superiority, and the promise of secrecy and impunity. This enables them to commit otherwise unthinkable war crimes, all on the basis of lies.
(17 comments) SHARE Saturday, May 22, 2010 Banksters aren't betting against Greece alone; they've got plans for Portugal, Ireland, and Spain as well
Deregulation has brought ever larger and more powerful players to the derivatives market -- namely the big investment banks, which now have what amounts to interest-free money from the U.S. Federal Reserve Bank (backed by the U.S. taxpayer) with which to gamble. These big, unregulated, financial institutions -"- non-commodity users -- now dominate the commodities markets much more than the commodity users themselves.
(10 comments) SHARE Friday, April 19, 2013 What Are Derivatives and Why Do They Imperil the U.S. Economy?
We should not have allowed these banks to get so large that they could use our deposited money to make trillions of dollars of reckless bets. But we stood by and let it happen. Our legislators are virtually owned by the big banks and were afraid to bight the hand that feeds them. Now these banks have grown so important to, and integrated within, our overall economy, that their dissolution or insolvency would wreck us.
(19 comments) SHARE Sunday, June 26, 2011 Could state-owned banks have prevented our financial crisis?
A state-owned public bank partners with community banks, credit unions and bigger banks to supply affordable credit to local economies. This translates into ever more loans -- for business start-ups, for farmers, and for high-tech companies and builders -- all in your home state. And much of the profits these folks make then circulates around the state, the same money being spent again and again, from one person to the next.
(3 comments) SHARE Sunday, January 23, 2011 China is eating our lunch. What might we do about it?
Unlike China the US doesn't have a national economic strategy. Instead, we have global corporations that happen to be headquartered here. Their goal is to maximize profits, wherever they can make the most money. They'll make things in America for export to China when that's most profitable, and they'll make it in China and give the Chinese their know-how when that's the best short-term way to boost their bottom line.
(15 comments) SHARE Wednesday, September 21, 2011 What/Who Caused the Economy to Tank (for everyone except big corporations & the rich)?
The stimulus bill and the financial rescue of the big banks are not the cause of today's record deficits. Those costs pale in comparison to the costs of tax cuts and war, which _have_ greatly swollen our deficits. These costs may be less conspicuous now, because many were enacted years ago and they have long since been absorbed into the budget projections of the Congressional Budget Office, but we should not forget them.
(12 comments) SHARE Friday, October 31, 2008 Are US tax payers being scammed by Hank Paulson, the US Congress and America's biggest banks?
Surprise, surprise, big banks had not the slightest intention of increasing their lending after receiving the huge federal handout for that purpose. Tsar Paulson simply scammed the ever-gullible citizens of the US into handing the biggest and most avaricious institutions in the country $2,300 per every man, woman, child in the US, so that they could resume business as usual -- stuff like buying up other banks.
(11 comments) SHARE Tuesday, September 27, 2011 How the Greek economy and IMF might help banksters -- and defeat Obama next year
The depression in the 30s wasn't just about a market crash; there were some folks who were prepared to make _money_ from the crash. Governments don't rule the world; Goldman Sachs rules the world. And Goldman does not care about this rescue package. From manipulating food prices that cause a hunger crisis around the world, to distorting oil prices that trigger recessions for us, it's all part of a day's work for banksters.
(16 comments) SHARE Monday, April 4, 2011 How We Could Create 15 Million Jobs and Eliminate the Federal Deficit
Corporate America now wants a much higher level of unemployment than was considered normal in years past. They say that the 'normal' of the past, 4.5%, is now obsolete. The 'new normal' is to be 8-9%. We must reject this. And if corporations flush with trillions in cash refuse to hire sufficiently to reduce unemployment to 4.5%, then the government must, to whatever extent necessary, become the replacement employer.
(16 comments) SHARE Sunday, March 27, 2011 How Might We Avert the Economic & Environmental Catastrophe That Approaches
We need a law requiring all utility companies to buy (for 7x the going rate) any excess electricity generated by homeowners and businesses that have their roofs covered with PhotoVoltaic cells--just as is now done in Germany, where such measures have so far eliminated the need to build & operate eight additional nuclear reactors. Where to get some of the money for such compensation to those who cover their roofs with PV cells?
(10 comments) SHARE Wednesday, May 2, 2012 Are We in the Middle of What Will Prove to Be the Deadliest Financial Cycle Ever?
The deeper the debt crisis gets, the more that governments are driven to print funny money, to save the big, gambling-addicted banks. And the more funny money that governments print, the deeper the crisis therefore gets. So, given that banksters essentially own and control our top government officials, are we in the middle of what will prove to be the deadliest financial cycle ever? Quite likely so.
(6 comments) SHARE Tuesday, July 5, 2011 American Exceptionalism, Narcissism, and National Decay. How are they related?
We are number #1 in a lot of categories that are not so good. If we ever want to turn this country around, we need to to take a long hard look in the mirror and realize that we are #1 in divorce, drug addiction, debt, obesity, car thefts, murders and total crimes. The truth is that we have become a slothful, greedy, decadent nation that is exhibiting signs of advanced decay. This cries out for better understanding.
(17 comments) SHARE Monday, July 11, 2011 What's Wrong With This Economy?
The usual anti-recessionary move by the Fed is to lower interest rates until they get some traction in investment, home buying, etc. But that hasn't worked; industry has too much excess production capacity, inventory & excess corporate cash reserves (as a result of corps and the rich having systematically taken the lion's share of national income for so long). Result: workers lack the $ to buy what the economy needs them to.
(13 comments) SHARE Tuesday, October 23, 2012 Tom Friedman: "Where and How Our Economy Went Wrong, and How to Right It"
We got seduced by the riches and rewards of financial engineering. Too little economic growth, too much debt, and a Wall Street risk/gambling/culture gone crazy. Together, these things culminated in a global financial crisis. As we slipped way down in global rankings, we assumed that our traditional global edge in entrepreneurship and innovation could compensate for our declines in educational attainment. Big mistake.
(15 comments) SHARE Thursday, June 16, 2011 Is Our Leftist/Socialist Military Setting an Example That Many of Us Don't Want to Admit?
Our armed forces live by a very liberal ethos and it works. Our military helped lead the way in racial desegregation, and today does more to provide equal opportunity to working-class families than any social program. It has been an escalator of social mobility in our society because it invests in soldiers and gives them skills and opportunities. A general earns just 10X what a private makes, a CEO 300X what a janitor makes.
(6 comments) SHARE Monday, October 19, 2009 To What Extent are our Biggest Banks and Financial Institutions being Operated as Criminal Enterprises?
What we want is a Wall Street that will attract men and women who will seek to be the next Warren Buffett or great venture capitalist -- men and women fairly competing to analyze the countless ideas of our best and brightest and who will invest not in devious schemes to defraud millions of their fellow Americans, but rather invest in the talented people who will best be able to bring their innovations to America and the world.
SHARE Saturday, October 27, 2007 BushCo's Covert Attempt to Force Iraq Into Giving Up 87% of Its Oil
Plenty of evidence, from a variety of sources, that the Bush administration, with the help of the mainstream media, is covertly trying to force Iraq's parliament to sign an oil law that will grant the vast majority of Iraq's oil profits to multinational oil companies.
(3 comments) SHARE Monday, August 10, 2009 What is the Likelihood of Full Economic Recovery, Really?
Phantom dollars, printed out of thin air, backed by nothing and producing next to nothing, defines the "-Bailout Bubble.' Just as with the other bubbles, so too will this one burst. But unlike Dot-com and Real Estate, when the "Bailout Bubble" pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another.
(6 comments) SHARE Monday, August 18, 2014 Rejoinder to a Rebuttal of My Most Recent Article on the Transfer of Income to the Rich
For many decades, technological advancement was met with an ever shorter workweek and everyone eventually regarded this as fair. Why should it be any different today? Historically, workers had to work 12 hrs/day, 6 days/week. This seemed proper to owners of factories & machinery and to those with good incomes, but not to others. So, by way of protest & unions, the legal length of the workday was reduced to 8. Now how about 6?
(9 comments) SHARE Friday, July 22, 2011 President Obama's Obscenity: Cuts for Social Security, but No Taxes for Wall Street?!
Those who manage and regulate the economy were either unable or unwilling - willful blindness? - to see the gradual formation of an $8 trillion housing bubble. They weren't bothered by the doubling of house prices in many areas, nor by the dodgy mortgages that were sold to finance these purchases. Somehow, willfully blind people like former Fed Chair Greenspan told themselves and everyone else that everything was just fine.
(5 comments) SHARE Tuesday, March 13, 2012 A million-plus homeowners foreclosed upon illegally in 5 years. Here's how and why.
The 5 banks that recently got off so easy with their sweet $25bn settlement -- BofA, JPMorgan Chase, Wells Fargo, Citigroup and Ally--engaged "in a pattern of unfair and deceptive practices," the complaint says, but refrains from any use of words like "criminal" or "fraud." Cd it be that the banksters in a sense already own the USDept of Justice? After all, what else can you call a $25bn fine, for a 100bn theft, except sweet?
(27 comments) SHARE Monday, October 26, 2015 To What Extent Are the Fed and Big Banks Criminal Enterprises?
If our government printed the money it needs instead of allowing the criminally syndicated Fed to do it for us, there would be no national debt & therefore no interest to be paid on it, which interest payments are continually foisted off onto us citizen taxpayers. Hence the need for all of us to pay much higher income taxes than we would otherwise have to pay. Remember, interest payments on our national debt are huge.
(17 comments) SHARE Sunday, April 14, 2013 The New Feudalism: Big Corporations and the United States of Ever-growing Inequality
US corporations are sitting on nearly $2 trillion of cash, not sure what to do with it except hide more of it offshore. They can't expand production because, after years of rising prices, & falling wages for the bottom 80%, the necessary consumer demand is just not there. Surprise, surprise. So, as technology, off-shoring and productivity continue their unstoppable advance, how many of us will eventually join the unemployed?
(16 comments) SHARE Thursday, October 20, 2011 How And Why Our Federal Reserve Has Been Forced To Bail Out European Banks
Goldman Sachs arranged swaps that allowed Greece to borrow 1 billion Euros without adding to its official public debt. While it arranged the swaps, Goldman also sought to buy insurance on Greek debt and engage in other trades to protect itself against the risk of a default on those swaps. Eventually, Goldman sold the swaps to the national bank of Greece. Despite all this, Goldman has no exposure to a default on Greek debt.
(3 comments) SHARE Tuesday, January 24, 2012 Will Predatory Hedge Funds Succeed in Milking Greece for All It's Worth?
Hedge fund sharks are using financial terrorism to extract billions from the Greek people. And they can get away with it for one reason: the EU and America are enormously fearful that a Greek default would lead to a chain reaction of financial defaults that wd bring down the entire global financial system. Hopefully, Occupy Wall Street will one day grow into a movement large enough to end this kind of financial terrorism.
(15 comments) SHARE Monday, March 7, 2011 With Ever Growing Productivity, Why Must We Keep Working 40-50 Hours a Week For So Many Years of Our Life?
There are other kinds of wealth besides those that have to do with the maximized consumption of resources, fuel, & consumer goods. In a famous essay, Bertrand Russell explained it something like this: Modern industrial techniques have made it possible to diminish enormously the amount of labor required to secure the necessities of life for everyone. This was obvious as far back as World War II & is more true today than ever.
(21 comments) SHARE Thursday, March 15, 2012 The Devious Republican Strategy for Winning in November
If the Repugs can just keep the rubes all riled up about all those "slutty" single women using birth control and the "moral decay" of the "family unit," and such, the rubes might once again be persuaded to just vote with their emotions, on "moral issues," rather than take the time to rationally understand how Republican (and Bluedog dem) politicians helped break the economy in the first place: (Read the article; it's short.)
(22 comments) SHARE Thursday, November 10, 2011 Will Europe's Growing Debt Crisis Drag the U.S. into Another Major Recession (or Worse)?
Just as the collapse of the U.S. housing market three years ago and Wall Street's subsequent credit crunch sent shock waves around the world, federal officials in the U.S. fear that the European debt crisis could hurt big banks there and trigger major problems here, perhaps dragging the U.S. into another major recession or worse. Like Europe was vulnerable in the crisis of '08, the U.S. is vulnerable now.
(8 comments) SHARE Tuesday, March 2, 2010 The ghastly dangers of unregulated derivatives trading
The unregulated trading of derivatives is responsible for the collapse that cost taxpayers hundreds of billions for bailouts. Yet derivatives have remained largely untouched by financial reform -- not surprising, given how much money is generated by the big banks that trade these things and at the same time shower many millions of dollars on our lawmakers, as a means of protecting their taxpayer-protected gambling operations.
(3 comments) SHARE Monday, September 14, 2009 How Washington is making health care reform DOA
America has not only the worst but the dumbest health care system in the developed world. It's become a leprosy eating away at the American experiment — a bureaucracy so insipid and mean and illogical that even our darkest criminal minds wouldn't be equal to dreaming it up on purpose. The existing health care system doesn't work for the vast majority of us, and the so-called reforms won't improve anything.
(13 comments) SHARE Friday, September 3, 2010 An analysis and expose' of the ongoing bank bail-out and associated rip-off
The Fed creates money out of thin air, uses it to buy toxic assets from the big banks, and a good portion of this money is then returned by the big banks to the Fed, as deposits, where it earns large amounts of interest for the big banks, courtesy of the American tax payer. The rest of the money received from the Fed is used by these banks to gamble (successfully so far) in the stock and derivatives markets.
(18 comments) SHARE Monday, April 6, 2015 If Worker Productivity is Continuing to Go Up, Why is the Buying Power of So Many of Us Going Down?
The majority of workers have no other choice than to produce all the superfluity that can be made to sell - to people like themselves, who spend ever more of their waking hours at work & who then buy this stuff as compensation for the fact that they no longer have enough time & education to enjoy their full humanity, much less spend enough time with their kids. And now these workers are being replaced and falling into poverty.
(3 comments) SHARE Sunday, June 27, 2010 Dylan Ratigan's Rant About Our Banking Sytem and the Attempt to Reform It.
The power elite are now making most of their money not from sound investments in well run and well thought out business enterprises, but rather from harvesting the tax dollars (and thus the labor) of everyone else, while simultaneously entrapping many of us in assets actually worth much less than was claimed. Meanwhile, banksters give us an ultimatum: "If you do not let us harvest your tax dollars, we will destroy you."
(7 comments) SHARE Friday, September 2, 2011 How Real is the Threat from Islamic Terrorism in the U.S.?
The anthrax attacks on two Dem senators were traced to US scientists at Fort Detrick, MD who were viciously anti-Muslim. These attacks had absolutely nothing to do with al Qaeda, and everything to do with causing enough hysteria to enable the administration's plans to repeal the Bill of Rights piecemeal without anyone daring to protest. Blaming these attacks on Muslim terrorists is simply the worst kind of disinformation.
(2 comments) SHARE Monday, April 12, 2010 How the World's New Power Brokers Undermine Democracy, Government, Peace and the Free Market
Of course the people don't want war. But it's the leaders of the country who determine policy and it's always a simple matter to drag the people along whether it's a democracy or a dictatorship. The people can always be brought to the bidding of the leaders. That's easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to great danger. --Goering
(7 comments) SHARE Thursday, April 19, 2012 The US Housing Bubble and Aftermath: Economist Dean Baker's Account of What Should Have Been Done
Alan Greenspan should have led economists to document the potential harm of the bubble, and burst it early, before it could destroy and/or allow the theft of $7 trillion of wealth, and thereby ruin tens of millions of lives. By the peak of the bubble in 2006, the median increase in house prices was more than 70% above the rate of inflation. It was time for Greenspan and Congress to act. Instead they sat on their hands.
(2 comments) SHARE Thursday, March 25, 2010 Thievery on an Unprecedented Scale, or Just Temporary Delusions on Wall Street?
According to William K. Black, a senior government regulator during the S&L crisis, the Bush and Obama administrations have followed a 3-part strategy with regard to our insolvent and crippled "systemically dangerous institutions" (SDIs):
(1) cover up the losses through legalized accounting fraud, (2) launch an "everything is great" propaganda campaign, and (3) provide a host of secret taxpayer subsidies to the SDIs.
(23 comments) SHARE Sunday, December 9, 2007 Mortgage Industry Insider Says the Mortgage Mess is Far Far Worse than You Suppose
Now, it takes a $175K annual income to buy a million dollar house, which, before, a $90K income could afford, down from average household income to 10% of households. And inventories are up 500%-- that leaves 90% fewer buyers for five times the number of homes. To get housing moving again rates must drop, which won't happen, or home prices must fall 50%. Things WILL be getting worse.
(4 comments) SHARE Tuesday, July 27, 2010 It is now imperative that we quickly find our way to a steady-state economy
Our current social order is no longer sustainable. Our economic system is based on a tragically flawed set of premises, namely that we can extract all we want from the environment, pump all the waste we want into it, and make most of our wealth, as a nation, by speculating financially. An oversimplification? Yes. But it refers to an important and dangerous trend which will here be laid out and explored.
SHARE Thursday, May 6, 2010 How and why Wall Street had to decouple from Main Street and the real economy
There is an implicit understanding that the Fed will serve the interests of Wall Street by facilitating asset bubbles through "accommodative" monetary policy and by blocking regulation. This is far more damaging than any conspiracy because it ensures that the economy will continue to stagnate, that the gigantic upward transfer of wealth will continue unabated, and that the chasm between the rich and everyone else will grow.
(4 comments) SHARE Thursday, April 1, 2010 Bill Moyers talks with Gretchen Morgenson about the financial crisis and its likely return
Banks make enormous amounts of money facilitating such trades, creating these swaps (as these insurance policies are called) for their customers, allowing them to continuously trade, while taking a healthy cut as the middle man. They don't want transparency. They want opacity. They don't want people to be able to see what these insurance polices are trading at, because as soon as they would do that, profits would shrink.
(2 comments) SHARE Thursday, October 28, 2010 The basic problem our economy faces is a lack of effective demand
Extremely skilled counterfeiters could provide an enormous boost to GDP and create millions of jobs. It makes no difference whether the counterfeiters spend, say, $2 trillion of counterfeit money, or if big corporations were to suddenly start investing/spending the $2 trillion that they've accumulated, or if Americans were to find $2 trillion that had been dropped from helicopters. The effect on the economy would be the same.
(42 comments) SHARE Friday, April 25, 2014 Could a Shorter Workweek Help Save Our Planet and Our Civilization?
There's a huge amount of superfluous, harmful & unnecessary work today that nobody wants to do & that nobody should do. Imagine a world where economic desperation doesn't determine the work we must do. Most of us could then do more of what we want to do. But what about loafers? Mother Earth wd happily trade her legions of crazed workaholics for a healthy population of "slackers," i.e. those content to work and consume less.
SHARE Tuesday, October 26, 2010 Who maimed the economy, and how? Was it an "inside job"?
"Inside Job" is a briskly paced film telling the story of a crime of unparalleled proportions, a crime that is, so far, without punishment. It's the story of an outrage that has so far escaped broad understanding, as well as much in the way of societal stigma and legal sanction. The betrayal of public trust and collective values that Mr. Ferguson chronicles was far more brazen and damaging than anything in American history.
(12 comments) SHARE Sunday, July 6, 2014 In a Dying Civilization What Are the Responsibilities of Intellectuals?
If we are to survive on this planet even for another hundred years, our approach needs to be revolutionary, not apathetic; creative, not dogmatic; scientific, not superstitious; and sustainable, not exploitative. But this will only take place when and if we learn from world history and formulate effective plans for drastically changing socioeconomic arrangements.
(7 comments) SHARE Friday, September 17, 2010 Why are the pundits, pols, and Wall Street fat cats lying to us?
Politicians and bureaucrats need us to believe they're saving the day; otherwise they could lose their jobs. Financial fat cats and CEOs need us to believe it's OK to buy their stocks again; otherwise their shares in their companies might very well crash in value. Rating agencies like S&P, Moody's & Fitch need us to believe their ratings are reliable; otherwise the companies they rate will stop paying them for their ratings.
(11 comments) SHARE Monday, December 10, 2012 The Enormous Potential of Interest-Free, Government-Issued Currency, Part 2
Our government has the sovereign power to issue money & spend it into circulation to promote the general welfare including the building of infrastructure both human & material. This we could be doing rather than allowing banksters to use money, taken from taxpayers, for speculation, thereby causing one crisis after another. To prevent our nation's next financial debacle, Congress must now reclaim the power to issue money.
(6 comments) SHARE Friday, December 18, 2009 Keith Olbermann: "Ruined Senate health care bill unsupportable"
Some members of Congress now seek to reanimate a corpse of a bill killed by the Republicans, killed by a political game played in the Senate and in the White House by men who have now proved themselves poorly equipped for the fight. The "men" of the current moment, have lost to the "mice" of history. They must not make the defeat worse by passing a hollow shell of a bill just for the sake of a big stage-signing ceremony.
(3 comments) SHARE Monday, December 5, 2011 Tea Party Karl Denninger Explains How Banksters Robbed Us and How to Get Some of It Back
We have banksters stealing anything that's not nailed down; we have co-opted Senators trying to give our president unitary authority to essentially become Stalin and establish his own cadre of "disappearance squads" whenever he wants, and we have Congress claiming to want budget discipline but at the same time intending to blow a new $200 billion hole in the deficit before the end of the year -- without creating any new jobs!
(6 comments) SHARE Monday, September 7, 2009 Are financial parasites killing the American economy?
The financial sector seems to be devouring the industrial sector. Finance capital pretends that its growth is that of industrial capital formation. Hence the financial bubble is called "wealth creation," as if it were what progressive economic reformers envisioned a century ago. These reformers condemned rent and monopoly profit, but never dreamed that the financiers would end up devouring landlord and industrialist alike.
(7 comments) SHARE Sunday, October 11, 2009 Corporate Coup d' Etat of the U.S. Economy
The concept of communism is reviled in this country for the simple reason that it is blind to human nature and allows a small group of individuals near-total control while sticking it to everyone else. America spent countless lives and half a century fighting against this system of government. So why are we standing by passively as big corporations and banks take over our government and stick it to us now?
(7 comments) SHARE Tuesday, October 30, 2012 Is there an economic root to ever more extreme weather events like Sandy?
Can you imagine what would happen to our ecocidal hyper-production, hyper-consumption tread-mill society if we ever found a way to allow any low-paid worker who wanted a better job . . to work directly, cooperatively and efficiently on the production of all basic goods and services -- and then, in return for such work, they would receive their fair share of all the basic goods and services they helped produce?
(4 comments) SHARE Friday, December 17, 2010 The Leveraged Buy Out of America by its Kleptocratic Elite
At some point over the next five years, Stockman grimly states, the Fed and Treasury will have to sell a combined $5 trillion in debt, and that alone will destroy the supply/demand equilibrium and send interest rates surging, which will result in either debt repudiation or outright bankruptcy. The only consolation is that the great experiment of LBOing America by its kleptocratic elite is coming to its (sad) conclusion.
(2 comments) SHARE Thursday, July 29, 2010 Why the second leg in the great double-dip recession will soon engulf us
If you were counting on the government to prevent the second major leg in this great double-dip recession, don't hold your breath, for the primary CAUSE of the second dip is the government's conspicuous absence from sectors where it was, until now, the biggest mover, shaker, buyer, and financier.
(2 comments) SHARE Saturday, April 17, 2010 Crocodile Tears on Wall Street
Wall Street banks have built a new American oligarchy which gains political power through its economic power, and then use that new political power to increase still further its economic power. By this means they ratchet up their grip on America, to the point of eventually having America in a kind of strangle hold. The question is: will enough of us wake up in time to defeat this oligarchy before it's too late?
(4 comments) SHARE Tuesday, January 10, 2012 The Economic and Financial Legerdemain of the Obama & Bush Administrations
By understating inflation, our government has been able to create the illusion of an economic "recovery." In fact, their "positive economic growth" number is created by counting inflation as GDP growth. However, when inflation is measured in the old way (the way it was measured before Clinton's presidency), it becomes clear that the US has experienced no real GDP growth in the 21st century.
(7 comments) SHARE Friday, September 19, 2014 Even if We Defeat ISIS, Will We Be Able to Defeat Each and Every One of Its Successors?
Because of our dependence on Mideast oil, and the tactics we use to ensure our supply, and because these tactics result in the social and economic oppression of millions of Muslims, we need to understand and accept a terrible truth: Vengeful hatred of the US and the executions of Americans on Middle Eastern soil is simply the cost of US oil companies doing a very lucrative business in the region.
(6 comments) SHARE Monday, April 19, 2010 Goldman's Fall from Grace: How and Why?
The SEC claims Goldman Sachs created and sold a mortgage investment that was secretly devised to fail. The claim is that this was a deal, secretly arranged by Goldman and hedge fund manager John Paulson, that helped his (Paulson's) investors capitalize on the collapse of the housing market. Indeed, Goldman also profited, by also betting against the very mortgage investments that it sold to its customers.
(5 comments) SHARE Wednesday, October 12, 2011 Why Are the Powers-that-be in America So Afraid of Cuba?
Declassified U.S. intelligence cables reveal that Luis Posada Carriles had spoken of plans to "hit" a Cuban airliner only days before his comrades, Ricardo and Lugo, blew it up just off the coastline of Barbados. The CIA informed Washington, but no one uttered a word of warning to the Cuban government. Why not? And why does the man who our government knows planned the attack continue to live freely and openly in Miami?
SHARE Sunday, June 14, 2009 Agenda for a New Economy: from Phantom Wealth to Real Wealth
There is growing evidence that our current economic system has failed us on every dimension: environmental, social, and financial. The fact that the Wall Street financial collapse has preceded the terminal collapse of our social and environmental systems is a blessing. Why? Because it demonstrates that our existing economic system has failed even on its own terms.
(4 comments) SHARE Monday, November 26, 2012 Fossil fuel industry's plan for us: Burn 5X more carbon than is compatible with a livable planet
Young people, whose whole future is ahead of them, must tell their universities, all of whom have a huge endowment that includes holdings in fossil fuel companies. They must say to those who are charged with their education, "Explain to me how you can prepare me for a future that with your investments you're demonstrating you don't believe in." How can you prepare me for a future at the same time as you bet against my future?
(18 comments) SHARE Saturday, August 17, 2013 Are there any realistic ways that ecocide & world war might be avoided?
How best could the US organize and execute a reduction in superfluous consumption? Or, should we just continue to sit back and do nothing, and simply let the unfortunate and unlucky take the brunt of the hit from the scheming plutocrats, banksters, bought-off politicos and corporados who are directing ever more of the national income into their own pockets? In other words, should we just let poverty rates continue to rise?
(2 comments) SHARE Monday, September 7, 2009 Reverse bank robbery – how the big banks are robbing us blind
Suppose the banks pay an interest rate of 0.2% for a trillion dollars they've borrowed from the Fed. If the banks then use that trillion to buy up government bonds that pay a 3.5% interest rate, they pocket the difference of 3.3 percentage points. This means that on a trillion dollars of federal lending to them, the banks will ‘earn' $33 billion a year in net interest or profit! What a nice gift from us taxpayers to them!
(1 comments) SHARE Friday, February 19, 2010 How and why we must save our infrastructure and our working class simultaneously
With nowhere near enough good job opportunities, America's working class is in danger of descending into severe dysfunction, which could easily have ugly political consequences: the malleable Tea Party movement (much influenced by Fox News and various right-wing think tanks -- combined with the massive corporate funding of major political campaigns and political attack ads on TV) could easily develop fascist proclivities.
(4 comments) SHARE Friday, July 24, 2015 Now Finally Taking Shape: A World With Ever Less Decently-Paid Work for Most. But Must This Be a Problem?
New, labor-saving technology is likely to exert a slow but continual downward pressure on the value and availability of work, i.e. on wages and on the number of prime-age workers with full-time jobs. Eventually, by degrees, that could create a new normal, where the expectation that work will be a central feature of adult life dissipates for a significant portion of society. Fortunately there are alternative kinds of work.
(10 comments) SHARE Sunday, January 11, 2015 Does Affordable Housing Really Need to Be So Scarce in Most Big Cities?
Why is it that a growing percentage of urban men today can't afford to rent or buy a home that is as nice as the one in which they grew up? Meanwhile, there are plenty of rundown buildings in, or very close to, such cities . . as well as a huge supply of currently idle workers who would love to repair and refurbish such buildings, if it would eventually earn them a home of their own, from amongst those they help refurbish.
(1 comments) SHARE Thursday, May 17, 2012 Are Banksters Robbing, & Even Killing, Millions of People Worldwide? If So, How?
John Perkins worked as an "economic planner' for an international consulting firm & describes the economic hegemony of banksters, the IMF, World Bank & the exploitative victimization of 3rd World nations. His job was to negotiate huge loans to these nations - loans of money that banksters created out of thin air and which they knew could never be repaid. In the process that followed, millions were further impoverished.
(7 comments) SHARE Monday, December 20, 2010 The continuing hold of a failed doctrine over our politics. How and why?
Republicans, soon to take the House, are already talking about spending cuts -- Social Security, Medicare? -- that would grossly offset any positive effects from the tax cut deal. How effectively will Obama be able to oppose these demands after he himself has embraced the rhetoric of belt-tightening? It's one thing to make deals to advance your goals; it's quite another to set the country up for right-wing victories.
(8 comments) SHARE Monday, December 21, 2015 Saving Capitalism for the Many, Not the Few, a new book by Robert Reich
A copy of the Introduction to Reich's new book follows here. It's a great read which I hope many of you will get in to, so that we can more extensively discuss the book and its ideas here. This introduction is a succinct and brilliant explanation of what this important book is about.
(5 comments) SHARE Friday, October 8, 2010 Foreclosuregate
Could tens of thousands of Americans soon stop making payments on their mortgage and yet be able to remain in their homes because banks are legally powerless to foreclose? In anticipation of this possibility, some banks are already taking the law into their own hands and, even without a foreclosure, are breaking and entering the homes they think they own, to change the locks on the house when the "owner" is not home.
(16 comments) SHARE Tuesday, February 5, 2008 Our corporate-controlled (Orwellian) mass media
In a world of objective reality, a reporter would simply say that the U.S. launched an unprovoked invasion of Iraq on March of 2003 under the false pretense that Hussein possessed weapons of mass destruction -- and did this even after UN inspectors, completely unopposed by Saddam, had failed to find any WMD. However, the Orwellian 'reality' sold to us by our corporate-controlled mass media was and is quite different.
(39 comments) SHARE Saturday, July 18, 2015 When and Why Love Must Sometimes Be Up for Sale
Was it not essentially love for sale? If not, I wonder how you understand all of this and if this letter will change your mind at all. Did you think of me as a pushover and a stooge, or just a poor, dumb 'man' struggling to fulfill the 'obligations' that men customarily have? But of course you would and will never tell me. And no wonder you are not a feminist! You much prefer to be "the Queen," with all accorded privileges.
(3 comments) SHARE Saturday, June 29, 2013 Why we're headed for a double dip
As wages stagnate & shrink for most consumers, and interest rates rise, consumer spending will shrink. When interest rates increase, consumer spending declines because it costs the consumer more to borrow, so they step back from buying. Problem is, consumer spending is the backbone of any growth in the US economy. If it decreases, our economic growth prospects shrink, and this will eventually hurt corporate earnings & stocks.
(8 comments) SHARE Tuesday, December 15, 2015 Evolutionary Reconstruction of The Economy -- The Slow, Gentle Road to a Kind of Socialism
There are now 130 million Americans who are involved in co-ops and credit unions, the latter being in possession of $1 trillion in assets. In addition, 10 million Americans are now members of worker-owned companies. Plus, there are now 2000 publicly owned municipal utilities. Indeed, 25% of America's electricity is now produced by these kinds of socialist institutions.
(4 comments) SHARE Wednesday, November 4, 2009 Why on earth is Obama continuing the war in Afghanistan?
There is 40% – 50% unemployment in Afghanistan, and the Taliban pays $8 a day to young fighters who would rather be doing anything else. There is literal starvation taking place across the country, including in Kabul.
(2 comments) SHARE Wednesday, June 29, 2011 Health & Food Cutbacks For the Poor to Continue, So As To Keep Taxes Low For the Rich
The $17 billion appropriations bill for the Department of Agriculture includes major cuts in nutrition programs like food stamps and WIC, a program that provides food commodities for pregnant and nursing women and their children--cuts that wd cause 1 million recipients of emergency food to go hungry! The bill also calls for a cut in the number of federal food safety inspectors. Possible cuts for the Pentagon are off the table.
(11 comments) SHARE Monday, April 14, 2014 The Two-century-long Effort by Banksters to Take, and Keep, Ownership of America's Central Bank
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in feudalist fashion by the central banks of the world acting in concert, by way of secret agreements arrived at in frequent private meetings and conferences."
SHARE Saturday, October 20, 2007 Just How Much Trouble is the US Economy In?
Japan and China Lead the Flight from the Dollar. Fears of a Dollar Collapse. Saudis Take Flight. China Threatens "Nuclear Option" of Dollar Sales. Foreign investors flee US securities. Housing slump could trigger recession. Housing starts fall 40% and home foreclosures double. Re: the regulations that will be needed in future, Republicans start talking like Democrats.
SHARE Tuesday, December 4, 2007 The Mounting Dangers of America's Burgeoning Debt
How did America, collectively and as individuals, become a nation addicted to debt -- pushed to, and often over, the edge of bankruptcy? The savings rate in America hangs below zero. Personal bankruptcies are reaching record numbers. America's total debt averages more than $160,000 for every man, woman, and child. China holds nearly $1 trillion in US debt. Japan and other countries hold most of the rest.
(24 comments) SHARE Thursday, August 1, 2013 Permanent Recession for Workers vs. the Pro-Growth Fantasies of Politicians & Most Economists
There are major obstacles to rising standards of living for ordinary Americans, among them the leveling off of educational attainment, globalization, rising resource costs, high fiscal deficits and rising private indebtedness. The rise in real disposable incomes of those outside the top 1% will stop. Contrary to the pep talks of most economists & pols, this is not going to change. This means permanent recession for workers.
(7 comments) SHARE Thursday, March 1, 2012 How Was It That So Many Members of Our Middle Class Were Financially Crushed?
CDOs were a clever version of a Ponzi scheme primarily because they provided ever more markets & investors & allowed banks to ever more profitably leverage their exposure, while brokers continued to get their lavish bonuses, thereby allowing everyone to ignore the inevitable, keeping their heads in the sand for yet another profitable day, which they all did, until the collapse in home prices drove the gravytrain off da tracks.
(5 comments) SHARE Tuesday, November 17, 2009 New evidence of the terrible social and personal costs of excessive income inequality
New cross-cultural evidence shows conclusively that all of the following problems are much more common in societies (like the US) where opportunities to gain educational and income vary greatly from one class to another: Mental illness, drug abuse, teenage births, obesity, the proportion of the population in prison, educational performance of school children, levels of trust and strength of community life, and social mobility
(4 comments) SHARE Wednesday, January 9, 2008 If productivity has tripled, why are we working ever longer hours?
Even though worker productivity has tripled in the last 50 years, most American workers are working ever longer hours just to acquire basics like housing, health care and college education. The biggest reason they have to work so much is the ever growing amounts of superfluous products that are produced and consumed. That keeps folks on a kind of treadmill -- which in turn causes enormous amounts of pollution & global warming
(5 comments) SHARE Wednesday, November 2, 2011 Reclaim The Monetary System From The Fed And Stop It From Further Destroying Our Economy For The 99%
A new House bill proposes elimination of the private control of our monetary system by the Fed, as well as restoration of the government's constitutional authority to, a) create money without creating additional national indebtedness, and b) spend that money into circulation in a way that will rebuild the productive economy for the 99%. This is a revolutionary proposal. Here's why.
(6 comments) SHARE Wednesday, December 10, 2008 The (coming) battery-swap (car) revolution. (Too bad Detroit will likely miss out.)
Engineers and entrepreneurs in Tel Aviv have developed a radical alternative to Detroit's business model. When this new battery-swap electric car system is completed, our bailout of Detroit will be remembered as the equivalent of pouring billions of dollars of taxpayer money into the mail-order-catalogue business on the eve of the birth of eBay, or pouring billions into the CD music business on the eve of the iPod.
(2 comments) SHARE Friday, February 8, 2013 The Lucrative Revolving Door Between Washington and Wall Street --- At What Cost to Ourselves and Our Economy?
Here's an astounding "admission" by our former assistant A.G. in which "he" confesses that his lucrative career would be over if he ever prosecuted any banksters. Likely there was, in this video clip, a faked voice-over that was substituted for his actual remarks, especially in view of his mention of how many asses he has kissed and how many fellow Americans he has "screwed" by way of his actions. And yet the truth comes out.
SHARE Wednesday, October 17, 2007 The FBI knew that the 911 attack was being planned
Evidence that the FBI knew well in advance that the 9/11 attack was being planned. The Philippine National Police found evidence of this planning on the laptop of a Muslim terrorist and forwarded this information to the US Justice Dept.
(1 comments) SHARE Thursday, December 31, 2009 Wall Street's 10 Greatest Lies of 2009
Congress is talking "sweeping reform" -- about a bill that leaves the banking landscape intact, save for some very minor alterations. Meanwhile, Wall Street is restructuring old toxic assets into new ones, finding fresh ways to profit from derivatives trading, and paying itself record bonuses -- on our dime. Despite recent TARP payback enthusiasm, the industry still floats on trillions of dollars of non-TARP subsidies.
SHARE Tuesday, August 26, 2008 How America's Middle Class Was Eviscerated by Bushco, the CIA, and the Republican Overclass
More than 100% of the growth in Gross Domestic Product over the past five years is attributable to the expansion of debt. GDP is up $2.8 trillion since 2001. But government debt alone is up over $3 trillion for the same period. Add in the explosion of home mortgage debt at over $5 trillion, and a cumulative $3.5 trillion in trade deficit, and you get a Real Economy that is literally going backwards.
(6 comments) SHARE Wednesday, August 10, 2011 The Bogus Debt Crisis as a Diversion From the Jobs Crisis
The budget crisis is an artificial crisis, and the current Washington "solution" will only guarantee a deeper recession and more widespread suffering. Rather than obsessing over deficits and debt, the government needs to turn its focus to jobs and the corresponding growth in spendable income, which will lead to increased sales, more hiring & a generally improved quality of life in America. We need more than a pep talk, Obie.
(8 comments) SHARE Sunday, September 14, 2008 Wake-up time. Chris Floyd on creeping fascism in the U.S.
The Nazis launched unprovoked wars of aggression and despoiled whole nations. So do we now; who cares? The Gestapo and the KGB snatched people from the street and held them without charges in secret prisons, tortured them with brute force and with exquisitely calibrated techniques approved by the highest authorities. So do we now; who cares?
(5 comments) SHARE Monday, December 1, 2008 How to end our addiction to Mideast oil, save the Big Three in Detroit and the economy too
The Danes get 18% of their electricity from wind turbines. Their only problem: What to do with the juice generated at night? How to store it? Their solution: start producing plug-in hybrid cars whose owners will nightly purchase juice from the wind turbines at 2 cents a KWhr. The next morning at work they will plug their car into the local grid, selling a programmed amount of the captured juice for 6 cents per KWhr.
(1 comments) SHARE Tuesday, February 28, 2012 Dylan Ratigan: "Six Sectors of the US Economy Badly in Need of Restructuring"
Ratigan describes the need for a kind of whole-system transition, as all countries are now linked in a form of globalization driven by finance, economics & technologies whose impacts have produced many unforeseen and negative as well as positive consequences. Futurists have studied these trends for decades and have come to many similar conclusions re: the need for whole-system re-structuring, discussed mainly outside the US.
SHARE Thursday, December 6, 2007 The Vile Economic Consequences of Mr. Bush
Repercussions from Bush will be felt beyond the lifetime of anyone reading this page. Our tax code has become hideously biased in favor of the rich;
our national debt will probably have grown 70% by the time Bush leaves office; we have a swelling cascade of mortgage defaults and a record near-$850 billion trade deficit, and oil prices higher than ever. We must kick our addiction to oil but are becoming ever more dependent.
(10 comments) SHARE Monday, March 17, 2008 Was Eliot Spitzer targeted?
If you look at the long list of cases in which accusations of highly irregular financial conduct were lodged against Republican elected officials, you will see that in each case the Bush Justice Department reacted by doing nothing. No review of payments and bank records. No questions. No investigators. No warrants for wiretaps. Bush's "Justice" Department always concluded that there was insufficient grounds to proceed.
(8 comments) SHARE Friday, December 21, 2007 How a state governor was imprisoned with help from Karl Rove
The GOP spent millions of dollars-- state and federal dollars--to remove Gov. Don Siegelman from Alabama politics, and did it with the help of Karl Rove. They wanted Siegelman out of politics because he is honest, can't be bought, won't be part of corrupt government, and is popular with blacks and whites alike. From the courtroom they took him away in shackles, to jail, without even a chance to say goodbye to his family.
(4 comments) SHARE Thursday, May 28, 2009 Will widespread middle-class affluence ever return to the United States?
The US is the only industrialized country where young people are less likely than their parents to graduate high school. Since unemployment cannot begin to fall until payroll growth rises to at least 1% - and payroll growth will not hit 1% until GDP growth hits at least 2.5% - we may not see any substantive payroll growth until late 2010 or 2011. So, unemployment & foreclosures could very well rise until that time.
(5 comments) SHARE Sunday, February 24, 2008 Our Senate has betrayed us
Our Senate, led by Jay Rockefeller, enabled by Harry Reid, and with the active support of at least 12 Democrats and the as-always lockstep GOP caucus -- voted to legalize warrantless spying on the telephone calls and emails of Americans. It also provided full retroactive amnesty to lawbreaking telecoms, thus forever putting an end to any efforts to investigate the telecoms and the associated crimes of the Bush administration.
(7 comments) SHARE Wednesday, November 14, 2007 How we could have saved billions with a gasoline tax
If only we could have slapped a "patriot tax" of $1 or more on every gallon of gasoline sold, this would have greatly diminished the transfers of wealth we were making to the very countries who are indirectly financing the ideologies of intolerance that are killing American soldiers. In addition, such a move would have spurred innovation in energy efficiency by U.S. manufacturers.