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Gary Edwards

The Libertarian View: Are Tariffs Bad? - 1 views

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    As many know, i spent quite a bit of time working for a Chinese Company seeking to enter the USA-European software market.  My task was to research the market, discover and define a market opportunity, design the product, and then work as product manager to get that service to market.  I took this job to better understand the Chinese marketplace and how sovereign Chinese companies work.  What i learned is how the Chinese seek to exploit and totally dominate open markets.  Software is just a category whose time has come.  and there are thousands of Chinese companies lining up.  The first step though is to fine tune the existing blueprint used by other Sina sovereigns.  amazing stuff. My take away from this experience is that the USA MUST set up a 30% tariff on ALL imports, and do so IMMEDIATELY!!!  Yesterday is not soon enough! As a newly minted libertarian, i wondered about the obvious conflict with Austrian Economics and their dedication to free markets and free trade?  I found the answer at this Libertarian forum, where many members were in heated discussion.  Comment #7 sums it up best i think.  Including a link to Ron Paul's Tariff-NAFTA speech. The thing is, the 30% Tariff should be part of an overall TAX REDUCTION PLAN.  I support the FAIR TAX and the Balanced Budget Amendment.  As an alternative to the Fair Tax, I would also support a 17% flat tax with no exceptions.  The ideal situation being an immediate, uncompromising, no exceptions 30% tariff on ALL imports coupled with the Fair Tax and the Balanced Budget Amendment.   And yes, i do believe this plan is consistent with the Founding Fathers Constitution.  But it took some kind of research to establish that opinion.   I've also concluded that "conservatism" is a convenient philosophical vehicle for the corrupt crony corporatism of both the military-industrial-complex, banksters and, international corporations.  Free trade and open markets concepts are perverted to become a thin veil
Paul Merrell

New Trade Data Come at the Worst Possible Time for Obama | The Nation - 0 views

  • President Obama’s push for a massive new trade deal with Asia is predicated on the idea it will help everyday Americans: that it will “level the playing field for the middle class,” in Obama’s words. But as the debate over the Trans-Pacific Partnership enters its endgame, newly released government data about the US trade deficit shows recent trade deals have done the opposite of what was promised—and have inflicted added damage on American jobs. The Census Bureau’s annual trade data for 2014, released Thursday morning, shows the US trade deficit in 2014 jumped 6 percent to $505 billion in 2013. This increase received a late boost from the December 2014 numbers, which showed at 17.1 percent increase in the trade deficit—resulting in the biggest trade imbalance since December 2012. A country’s trade balance is a crucial economic indicator; a nation that is exporting far more goods than it is importing is generally in good economic health. Conversely, a country that is increasingly importing more than it exports—as is the case with the United States—is watching valuable dollars and jobs flow overseas.
  • The data shows a small, 1 percent growth in US exports for 2014, though the domestic oil and gas boom accounts for much of that. US manufacturing exports fell by more than $5 billion in 2014, and the US goods trade deficit rose to $736.8 billion. (More on that number in a minute; it doesn’t tell the full story.) There’s a simple explanation for the widening trade deficit: the US dollar is strong, and there’s weak growth overseas, which would naturally depress exports. But congressional critics of the TPP seized on a broader point on Thursday morning—robust promises about the benefits of past trade deals have turned out to be empty. “We signed those trade deals, and the result has been the opposite,” said Representative Rosa DeLauro on a Thursday morning conference call with reporters. “The administration continues to pursue the same failed policies of the past several years.”
  • Of particular note is the increasing trade deficit with Korea, which increased a whopping 20 percent in 2014, to $25.1 billion. Obama signed a free-trade agreement with Korea during his first term, calling the deal “a major win for American workers and businesses,” and it took effect in early 2012. But the US goods trade deficit with Korea was 81 percent higher in 2014 than in 2011. That translates to a loss of 74,000 jobs, by the administration’s own metrics for measuring job gains from trade. “[The new information] basically confirms a lot of our suspicions, and our positions and votes over the years about how these trade agreements have really been a bad deal for the American worker,” said Representative Tim Ryan.
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  • DeLauro also offered some broadsides about how the administration was spinning the Census report.
Gary Edwards

"War is a Racket" by General Smedly Butler - 1 views

  • by MAJOR GENERAL SMEDLEY D. BUTLER, USMC - Retired TWO-TIME Congressional Medal of Honor Recipient FULL TEXT ON LINE FREE
  • GET THE NEW PAPERBACK EDITION including two bonus titles.
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    An accidental find, the full text online of USMC Maj. Gen. Smedley Butler's 1935 book, War Is a Racket. Butler served in the Marine Corps from 1899 to 1931 and at the time of his retirement was the most-decorated Marine in history, for both valor and accomplishments. Following his retirement, he became a vehement anti-war activist and public speaker.  This book is easily his most-cited and most-quoted published work. You can capture the flavor from an article he published in a magazine that included the following lines: "I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents." http://en.wikipedia.org/wiki/Smedley_Butler#Lectures  I look forward to reading this book. The book was reprinted in 2003 and is available from the linked web site, together with two bonus titles. 
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    "WAR IS A RACKET" - free online book CHAPTER ONE WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives. A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small "inside" group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes. In the World War [I] a mere handful garnered the profits of the conflict. At least 21,000 new millionaires and billionaires were made in the United States during the World War. That many admitted their huge blood gains in their income tax returns. How many other war millionaires falsified their tax returns no one knows. How many of these war millionaires shouldered a rifle? How many of them dug a trench? How many of them knew what it meant to go hungry in a rat-infested dug-out? How many of them spent sleepless, frightened nights, ducking shells and shrapnel and machine gun bullets? How many of them parried a bayonet thrust of an enemy? How many of them were wounded or killed in battle? Out of war nations acquire additional territory, if they are victorious. They just take it. This newly acquired territory promptly is exploited by the few - the selfsame few who wrung dollars out of blood in the war. The general public shoulders the bill. And what is this bill? This bill renders a horrible accounting. Newly placed gravestones. Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability. Depression and all its attendant miseries. Back-breaking taxation for generations and generations. For a great many years, as a soldier, I had a suspicion that war was a racket; not until I retired to civil life did I fully realize it. Now that I see the international war clouds g
Paul Merrell

President Xi's speech to Davos in full | World Economic Forum - 0 views

  • “It was the best of times, it was the worst of times.” These are the words used by the English writer Charles Dickens to describe the world after the Industrial Revolution. Today, we also live in a world of contradictions. On the one hand, with growing material wealth and advances in science and technology, human civilization has developed as never before. On the other hand, frequent regional conflicts, global challenges like terrorism and refugees, as well as poverty, unemployment and widening income gap have all added to the uncertainties of the world. Many people feel bewildered and wonder: What has gone wrong with the world? To answer this question, one must first track the source of the problem. Some blame economic globalization for the chaos in the world. Economic globalization was once viewed as the treasure cave found by Ali Baba in The Arabian Nights, but it has now become the Pandora’s box in the eyes of many. The international community finds itself in a heated debate on economic globalization.
  • Today, I wish to address the global economy in the context of economic globalization. The point I want to make is that many of the problems troubling the world are not caused by economic globalization. For instance, the refugee waves from the Middle East and North Africa in recent years have become a global concern. Several million people have been displaced, and some small children lost their lives while crossing the rough sea. This is indeed heartbreaking. It is war, conflict and regional turbulence that have created this problem, and its solution lies in making peace, promoting reconciliation and restoring stability. The international financial crisis is another example. It is not an inevitable outcome of economic globalization; rather, it is the consequence of excessive chase of profit by financial capital and grave failure of financial regulation. Just blaming economic globalization for the world’s problems is inconsistent with reality, and it will not help solve the problems.
  • But we should also recognize that economic globalization is a double-edged sword. When the global economy is under downward pressure, it is hard to make the cake of global economy bigger. It may even shrink, which will strain the relations between growth and distribution, between capital and labor, and between efficiency and equity. Both developed and developing countries have felt the punch. Voices against globalization have laid bare pitfalls in the process of economic globalization that we need to take seriously. As a line in an old Chinese poem goes, “Honey melons hang on bitter vines; sweet dates grow on thistles and thorns.” In a philosophical sense, nothing is perfect in the world. One would fail to see the full picture if he claims something is perfect because of its merits, or if he views something as useless just because of its defects. It is true that economic globalization has created new problems, but this is no justification to write economic globalization off completely. Rather, we should adapt to and guide economic globalization, cushion its negative impact, and deliver its benefits to all countries and all nations.
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  • Whether you like it or not, the global economy is the big ocean that you cannot escape from. Any attempt to cut off the flow of capital, technologies, products, industries and people between economies, and channel the waters in the ocean back into isolated lakes and creeks is simply not possible. Indeed, it runs counter to the historical trend.
  • First, lack of robust driving forces for global growth makes it difficult to sustain the steady growth of the global economy. The growth of the global economy is now at its slowest pace in seven years. Growth of global trade has been slower than global GDP growth. Short-term policy stimuli are ineffective. Fundamental structural reform is just unfolding. The global economy is now in a period of moving toward new growth drivers, and the role of traditional engines to drive growth has weakened. Despite the emergence of new technologies such as artificial intelligence and 3-D printing, new sources of growth are yet to emerge. A new path for the global economy remains elusive. Second, inadequate global economic governance makes it difficult to adapt to new developments in the global economy. Madame Christine Lagarde recently told me that emerging markets and developing countries already contribute to 80 percent of the growth of the global economy. The global economic landscape has changed profoundly in the past few decades. However, the global governance system has not embraced those new changes and is therefore inadequate in terms of representation and inclusiveness. The global industrial landscape is changing and new industrial chains, value chains and supply chains are taking shape. However, trade and investment rules have not kept pace with these developments, resulting in acute problems such as closed mechanisms and fragmentation of rules.
  • Third, uneven global development makes it difficult to meet people’s expectations for better lives. Dr. Schwab has observed in his book The Fourth Industrial Revolution that this round of industrial revolution will produce extensive and far-reaching impacts such as growing inequality, particularly the possible widening gap between return on capital and return on labor. The richest one percent of the world’s population own more wealth than the remaining 99 percent. Inequality in income distribution and uneven development space are worrying. Over 700 million people in the world are still living in extreme poverty. For many families, to have warm houses, enough food and secure jobs is still a distant dream. This is the biggest challenge facing the world today. It is also what is behind the social turmoil in some countries. All this shows that there are indeed problems with world economic growth, governance and development models, and they must be resolved. The founder of the Red Cross Henry Dunant once said, “Our real enemy is not the neighboring country; it is hunger, poverty, ignorance, superstition and prejudice.” We need to have the vision to dissect these problems; more importantly, we need to have the courage to take actions to address them.
  • First, we should develop a dynamic, innovation-driven growth model. The fundamental issue plaguing the global economy is the lack of driving force for growth.Innovation is the primary force guiding development. Unlike the previous industrial revolutions, the fourth industrial revolution is unfolding at an exponential rather than linear pace. We need to relentlessly pursue innovation. Only with the courage to innovate and reform can we remove bottlenecks blocking global growth and development. With this in mind, G-20 leaders reached an important consensus at the Hangzhou Summit, which is to take innovation as a key driver and foster new driving force of growth for both individual countries and the global economy. We should develop a new development philosophy and rise above the debate about whether there should be more fiscal stimulus or more monetary easing. We should adopt a multipronged approach to address both the symptoms and the underlying problems. We should adopt new policy instruments and advance structural reform to create more space for growth and sustain its momentum. We should develop new growth models and seize opportunities presented by the new round of industrial revolution and digital economy. We should meet the challenges of climate change and aging population. We should address the negative impact of IT application and automation on jobs. When cultivating new industries and new forms models of business models, we should create new jobs and restore confidence and hope to our peoples.
  • Second, we should pursue a well-coordinated and inter-connected approach to develop a model of open and win-win cooperation. Today, mankind has become a close-knit community of shared future. Countries have extensive converging interests and are mutually dependent. All countries enjoy the right to development. At the same time, they should view their own interests in a broader context and refrain from pursuing them at the expense of others. We should commit ourselves to growing an open global economy to share opportunities and interests through opening-up and achieve win-win outcomes. One should not just retreat to the harbor when encountering a storm, for this will never get us to the other shore of the ocean. We must redouble efforts to develop global connectivity to enable all countries to achieve inter-connected growth and share prosperity. We must remain committed to developing global free trade and investment, promote trade and investment liberalization and facilitation through opening-up and say no to protectionism. Pursuing protectionism is like locking oneself in a dark room. While wind and rain may be kept outside, that dark room will also block light and air. No one will emerge as a winner in a trade war.
  • Third, we should develop a model of fair and equitable governance in keeping with the trend of the times. As the Chinese saying goes, people with petty shrewdness attend to trivial matters, while people with vision attend to governance of institutions. There is a growing call from the international community for reforming the global economic governance system, which is a pressing task for us. Only when it adapts to new dynamics in the international economic architecture can the global governance system sustain global growth. Countries, big or small, strong or weak, rich or poor, are all equal members of the international community. As such, they are entitled to participate in decision-making, enjoy rights and fulfill obligations on an equal basis. Emerging markets and developing countries deserve greater representation and voice. The 2010 IMF quota reform has entered into force, and its momentum should be sustained. We should adhere to multilateralism to uphold the authority and efficacy of multilateral institutions. We should honor promises and abide by rules. One should not select or bend rules as he sees fit. The Paris Agreement is a hard-won achievement which is in keeping with the underlying trend of global development. All signatories should stick to it instead of walking away from it as this is a responsibility we must assume for future generations.
  • Fourth, we should develop a balanced, equitable and inclusive development model. As the Chinese saying goes, “A just cause should be pursued for common good.”Development is ultimately for the people. To achieve more balanced development and ensure that the people have equal access to opportunities and share in the benefits of development, it is crucial to have a sound development philosophy and model and make development equitable, effective and balanced.
  • We should foster a culture that values diligence, frugality and enterprise and respects the fruits of hard work of all. Priority should be given to addressing poverty, unemployment, the widening income gap and the concerns of the disadvantaged to promote social equity and justice. It is important to protect the environment while pursuing economic and social progress so as to achieve harmony between man and nature and between man and society. The 2030 Agenda for Sustainable Development should be implemented to realize balanced development across the world. A Chinese adage reads, “Victory is ensured when people pool their strength; success is secured when people put their heads together.” As long as we keep to the goal of building a community of shared future for mankind and work hand in hand to fulfill our responsibilities and overcome difficulties, we will be able to create a better world and deliver better lives for our peoples.
  • This is a path that puts people’s interests first. China follows a people-oriented development philosophy and is committed to bettering the lives of its people. Development is of the people, by the people and for the people. China pursues the goal of common prosperity. We have taken major steps to alleviate poverty and lifted over 700 million people out of poverty, and good progress is being made in our efforts to finish building a society of initial prosperity in all respects. This is a path of pursuing reform and innovation. China has tackled difficulties and met challenges on its way forward through reform. China has demonstrated its courage to take on difficult issues, navigate treacherous rapids and remove institutional hurdles standing in the way of development. These efforts have enabled us to unleash productivity and social vitality. Building on progress of 30-odd years of reform, we have introduced more than 1,200 reform measures over the past four years, injecting powerful impetus into China’s development.
  • This is a path of pursuing common development through opening-up. China is committed to a fundamental policy of opening-up and pursues a win-win opening-up strategy. China’s development is both domestic and external oriented; while developing itself, China also shares more of its development outcomes with other countries and peoples. China’s outstanding development achievements and the vastly improved living standards of the Chinese people are a blessing to both China and the world. Such achievements in development over the past decades owe themselves to the hard work and perseverance of the Chinese people, a quality that has defined the Chinese nation for several thousand years. We Chinese know only too well that there is no such thing as a free lunch in the world. For a big country with over 1.3 billion people, development can be achieved only with the dedication and tireless efforts of its own people. We cannot expect others to deliver development to China, and no one is in a position to do so. When assessing China’s development, one should not only see what benefits the Chinese people have gained, but also how much hard effort they have put in, not just what achievements China has made, but also what contribution China has made to the world. Then one will reach a balanced conclusion about China’s development.
  • Between 1950 and 2016, despite its modest level of development and living standard, China provided more than 400 billion yuan of foreign assistance, undertook over 5,000 foreign assistance projects, including nearly 3,000 complete projects, and held over 11,000 training workshops in China for over 260,000 personnel from other developing countries. Since it launched reform and opening-up, China has attracted over $1.7 trillion of foreign investment and made over $1.2 trillion of direct outbound investment, making huge contribution to global economic development. In the years following the outbreak of the international financial crisis, China contributed to over 30 percent of global growth every year on average. All these figures are among the highest in the world. The figures speak for themselves. China’s development is an opportunity for the world; China has not only benefited from economic globalization but also contributed to it. Rapid growth in China has been a sustained, powerful engine for global economic stability and expansion. The inter-connected development of China and a large number of other countries has made the world economy more balanced. China’s remarkable achievement in poverty reduction has contributed to more inclusive global growth. And China’s continuous progress in reform and opening-up has lent much momentum to an open world economy.
  • Despite a sluggish global economy, China’s economy is expected to grow by 6.7 percent in 2016, still one of the highest in the world. China’s economy is far bigger in size than in the past, and it now generates more output than it did with double-digit growth in the past. Household consumption and the services sector have become the main drivers of growth. In the first three quarters of 2016, added value of the tertiary industry took up 52.8 percent of the GDP and domestic consumption contributed to 71 percent of economic growth. Household income and employment have steadily risen, while per unit GDP energy consumption continues to drop. Our efforts to pursue green development are paying off. The Chinese economy faces downward pressure and many difficulties, including acute mismatch between excess capacity and an upgrading demand structure, lack of internal driving force for growth, accumulation of financial risks, and growing challenges in certain regions. We see these as temporary hardships that occur on the way forward. And the measures we have taken to address these problems are producing good results. We are firm in our resolve to forge ahead. China is the world’s largest developing country with over 1.3 billion people, and their living standards are not yet high. But this reality also means China has enormous potential and space for development. Guided by the vision of innovative, coordinated, green, open and shared development, we will adapt to the new normal, stay ahead of the curve, and make coordinated efforts to maintain steady growth, accelerate reform, adjust economic structure, improve people’s living standards and fend off risks. With these efforts, we aim to achieve medium-high rate of growth and upgrade the economy to higher end of the value chain.
  • — China will foster an enabling and orderly environment for investment. We will expand market access for foreign investors, build high-standard pilot free trade zones, strengthen protection of property rights, and level the playing field to make China’s market more transparent and better regulated. In the coming five years, China is expected to import $8 trillion of goods, attract $600 billion of foreign investment and make $750 billion of outbound investment. Chinese tourists will make 700 million overseas visits. All this will create a bigger market, more capital, more products and more business opportunities for other countries. China’s development will continue to offer opportunities to business communities in other countries. China will keep its door wide open and not close it. An open door allows both other countries to access the Chinese market and China itself to integrate with the world. And we hope that other countries will also keep their door open to Chinese investors and keep the playing field level for us.
  • — China will vigorously foster an external environment of opening-up for common development. We will advance the building of the Free Trade Area of the Asia Pacific and negotiations of the Regional Comprehensive Economic Partnership to form a global network of free trade arrangements. China stands for concluding open, transparent and win-win regional free trade arrangements and opposes forming exclusive groups that are fragmented in nature. China has no intention to boost its trade competitiveness by devaluing the RMB, still less will it launch a currency war. Over three years ago, I put forward the “Belt and Road” initiative. Since then, over 100 countries and international organizations have given warm responses and support to the initiative. More than 40 countries and international organizations have signed cooperation agreements with China, and our circle of friends along the “Belt and Road” is growing bigger. Chinese companies have made over $50 billion of investment and launched a number of major projects in the countries along the routes, spurring the economic development of these countries and creating many local jobs. The “Belt and Road” initiative originated in China, but it has delivered benefits well beyond its borders.
  • Ladies and Gentlemen,Dear Friends, World history shows that the road of human civilization has never been a smooth one, and that mankind has made progress by surmounting difficulties. No difficulty, however daunting, will stop mankind from advancing. When encountering difficulties, we should not complain about ourselves, blame others, lose confidence or run away from responsibilities. We should join hands and rise to the challenge. History is created by the brave. Let us boost confidence, take actions and march arm-in-arm toward a bright future.
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    Very important speech. A must-read (I snipped only portions).
Paul Merrell

Progressives: We've Never Heard Of This "Progressive" Group Backing Obama's Trade Deal ... - 0 views

  • On Wednesday, progressives were surprised to learn they were “split” on President Obama’s trade agenda. Few issues have galvanized the American left like trade promotion authority, legislation that would pave the way for the administration to fast-track trade negotiations and the Trans-Pacific Partnership (TPP) — the trade deal the Obama administration is working tirelessly to make a reality and many Democrats oppose. From senators to the activists that make up the organized left (trade unions, environmentalists, human rights advocates), progressives can’t stand the trade deal. Yet there it was in black and white: “RIFT AMONG PROGRESSIVES EMERGES ON TPP,” read a headline in Politico’s daily labor and employment tipsheet, Morning Shift. The short item detailed the emergence of the “Progressive Coalition for American Jobs ” — a group of “progressives and Democrats committed to leveling the playing field for American workers,” according to the coalition’s barebones website. The website adds that “it’s critical that we give the president trade promotion authority and establish the Trans-Pacific Partnership.”
  • There’s something weird about the group, though: No one in the Washington, D.C., progressive community seems to have ever heard of them before. “Who are they? Are they getting paid? And this group will convince anybody of what?” asked Sen. Sherrod Brown. “There is zero progressive interest in this [trade promotion authority].” The group’s website provides few details about when the coalition was launched or who’s working for the group. But the team behind the Progressive Coalition for American Jobs includes some of the most senior members of Obama’s campaign team. Lefty site Daily Kos reported Mitch Stewart, the former aide the president tapped to run Organizing For America, and Lynda Tran, the former OFA press secretary are involved. A press release earlier in the week announcing the group came from 270 Strategies, the campaign firm started by Stewart and Obama’s former field director, Jeremy Bird. Tran told BuzzFeed News the purpose of the group was to boost liberal voices who support the Obama trade agenda.
  • While there is Democratic support for increasing free trade and the White House has made an effort to placate progressives, arguing any deal will include tough language supporting labor rights and environmental protections, that message hasn’t landed with the left. The Progressive Caucus in the House has released their own set of trade principles arguing that they believe it’s “possible to negotiate a trade agreement that doesn’t replicate the mistakes of the past.” But as it currently stands, House progressives remain diametrically opposed to Obama’s trade agenda. “If you look at the progressives — labor unions, activists, online organizations — who are lined up against the TPP, there are no credible groups left to build a ‘coalition,’” said an aide to a progressive House member, who wasn’t authorized to speak on the record. “The creation of a front group like PCAJ is a sign people pushing for a bad trade deal don’t have the votes to jam the [trade deal] through Congress.”
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  • A senior Democratic leadership aide told BuzzFeed News that the emergence of a group like the Progressive Coalition For American Jobs would bring “some modicum of balance” to the public discussion of the trade negotiations. “I do think it’s helpful to have an outside space for this to happen and for progressives to have a more balanced conversation about this,” the aide said. That’s not how everyone feels, however. With the emergence of the Progressive Coalition For American Jobs, some progressives got the feeling Obama’s allies were trying to flip the script. “It’s insulting,” said Candice Johnson, spokesperson for the Communications Workers of America, one of the many unions organized against TPP. “You put progressive in your name and that’s going to convince people?” She called the group “fake,” noting that it includes none of the biggest names in progressive politics in its coalition. Johnson wasn’t alone in that characterization. “As far as I know, the only thing ‘progressive’ about this so called ‘Progressive Coalition for American Jobs’ is the first word of the group’s name,” said Becky Bond, president of CREDO, the San Francisco-based progressive activist known to tangle publicly with the White House.
  • “At this point, 270 strategies is well known for its AstroTurf efforts to slap a progressive label on the endeavors of Wall Street Wing Democrats and their corporate masters, but this is an earth-shattering new low,” Neil Sroka, spokesperson for Democracy For America, the progressive group formed from the remnants of Howard Dean’s 2004 presidential bid, told BuzzFeed News in an email. “You can be a progressive committed to fighting for working families or you can be for this massive job-killing trade deal written by 500 corporate reps, but you can’t be both.”
Gary Edwards

Google News - 0 views

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    Exhaustive article about how the Chinese are converting US DEBT into economic assets - converting US assets to Chinese owned assets. Instead of breaking our knees to collect on our debt, the Chinese are taking land. Exactly what the Japanese did back in the 1980's. Convert the dollars into hard assets; business's and land. And get the conversion done before the dollar collapses totally. Intro: "What in the world is China up to?  Over the past several years, the Chinese government and large Chinese corporations (which are often at least partially owned by the government) have been systematically buying up businesses, homes, farmland, real estate, infrastructure and natural resourcesall over America.  In some cases, China appears to be attempting to purchase entire communities in one fell swoop.  So why is this happening?  Is this some form of "economic colonization" that is taking place?  Some have speculated that China may be intending to establish "special economic zones" inside the United States modeled after the very successful Chinese city of Shenzhen.  Back in the 1970s, Shenzhen was just a very small fishing village, but now it is a sprawling metropolis of over 14 million people.  Initially, these "special economic zones" were only established within China, but now the Chinese government has been buying huge tracts of land in foreign countries such as Nigeria and establishing special economic zones in those nations.  So could such a thing actually happen in America?  Well, according to Dr. Jerome Corsi, a plan being pushed by the Chinese Central Bank would set up "development zones" in the United States that would allow China to "establish Chinese-owned businesses and bring in its citizens to the U.S. to work."  Under the plan, some of the $1.17 trillion that the U.S. owes China would be converted from debt to "equity".  As a result, "China would own U.S. businesses, U.S. infrastructure and U.S. high-value la
Gary Edwards

Operation Sleeping Giant: "Breaking The Silver Manipulation Barrier" by Brandon Smith - 0 views

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    Written in August of 2011, this article continues to be an important guideline to understanding Gold and Silver prices, and the efforts of Banksters to manipulate these competing forms of monetary exchange to the US Dollar.  Good stuff.  And i did write Brandon a proposal for a mobile application connecting PayPal to the Storage Vault Depositories he sites in this article (based on the GOLD app design i provided to Tino in 2008). excerpt: China Competes With The Comex As of this summer China now has its own Comex, called the Hong Kong Mercantile Exchange. The exchange opened for trade on May 18th (the CME's incredible margin hikes in silver began only weeks before, which suggests to me that they were trying to preempt the positive effects the HKMEX would have on metals). The HKMEX moved into action only five months after the Chinese Pan American Gold Exchange was instituted. The exchange issues its own ETF's in gold and silver. These securities, though, are not based on leverage or derivatives like most Comex based ETFs. The bottom line; the Comex global monopoly on commodities trade is over: How To Break The Barrier Methods for smaller investors to fight back against the market manipulations of large banks have been sparse, and often limited to desperate appeals to the CFTC and the government, who are bought and paid for, and who have no intention of ever stopping global financiers from dragging their unwashed behinds across the face of the planet. Relying on bureaucrats to mend the wounds they themselves encouraged or inflicted is foolhardy, to say the least. Top down solutions are NOT an option now, and I'm not sure if they ever were. This leaves us with only one other choice; to fix the problem with our own hands from the bottom up. This is, of course, easier said than done… In the case of silver manipulation, what we are faced with is an unprecedented effort to subvert and suppress an alternative system so that the mainstream system can continue to
Paul Merrell

The Trans-Pacific Partnership and the Death of the Republic | WEB OF DEBT BLOG - 0 views

  • On April 22, 2015, the Senate Finance Committee approved a bill to fast-track the Trans-Pacific Partnership (TPP), a massive trade agreement that would override our republican form of government and hand judicial and legislative authority to a foreign three-person panel of corporate lawyers. The secretive TPP is an agreement with Mexico, Canada, Japan, Singapore and seven other countries that affects 40% of global markets. Fast-track authority could now go to the full Senate for a vote as early as next week. Fast-track means Congress will be prohibited from amending the trade deal, which will be put to a simple up or down majority vote. Negotiating the TPP in secret and fast-tracking it through Congress is considered necessary to secure its passage, since if the public had time to review its onerous provisions, opposition would mount and defeat it.
  • The most controversial provision of the TPP is the Investor-State Dispute Settlement (ISDS) section, which strengthens existing ISDS  procedures. ISDS first appeared in a bilateral trade agreement in 1959. According to The Economist, ISDS gives foreign firms a special right to apply to a secretive tribunal of highly paid corporate lawyers for compensation whenever the government passes a law to do things that hurt corporate profits — such things as discouraging smoking, protecting the environment or preventing a nuclear catastrophe. Arbitrators are paid $600-700 an hour, giving them little incentive to dismiss cases; and the secretive nature of the arbitration process and the lack of any requirement to consider precedent gives wide scope for creative judgments. To date, the highest ISDS award has been for $2.3 billion to Occidental Oil Company against the government of Ecuador over its termination of an oil-concession contract, this although the termination was apparently legal. Still in arbitration is a demand by Vattenfall, a Swedish utility that operates two nuclear plants in Germany, for compensation of €3.7 billion ($4.7 billion) under the ISDS clause of a treaty on energy investments, after the German government decided to shut down its nuclear power industry following the Fukushima disaster in Japan in 2011.
  • Under the TPP, however, even larger judgments can be anticipated, since the sort of “investment” it protects includes not just “the commitment of capital or other resources” but “the expectation of gain or profit.” That means the rights of corporations in other countries extend not just to their factories and other “capital” but to the profits they expect to receive there.
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  • Under the TPP, could the US government be sued and be held liable if it decided to stop issuing Treasury debt and financed deficit spending in some other way (perhaps by quantitative easing or by issuing trillion dollar coins)? Why not, since some private companies would lose profits as a result? Under the TPP or the TTIP (the Transatlantic Trade and Investment Partnership under negotiation with the European Union), would the Federal Reserve be sued if it failed to bail out banks that were too big to fail? Firestone notes that under the Netherlands-Czech trade agreement, the Czech Republic was sued in an investor-state dispute for failing to bail out an insolvent bank in which the complainant had an interest. The investor company was awarded $236 million in the dispute settlement. What might the damages be, asks Firestone, if the Fed decided to let the Bank of America fail, and a Saudi-based investment company decided to sue?
  • Just the threat of this sort of massive damage award could be enough to block prospective legislation. But the TPP goes further and takes on the legislative function directly, by forbidding specific forms of regulation. Public Citizen observes that the TPP would provide big banks with a backdoor means of watering down efforts to re-regulate Wall Street, after deregulation triggered the worst financial crisis since the Great Depression: The TPP would forbid countries from banning particularly risky financial products, such as the toxic derivatives that led to the $183 billion government bailout of AIG. It would prohibit policies to prevent banks from becoming “too big to fail,” and threaten the use of “firewalls” to prevent banks that keep our savings accounts from taking hedge-fund-style bets. The TPP would also restrict capital controls, an essential policy tool to counter destabilizing flows of speculative money. . . . And the deal would prohibit taxes on Wall Street speculation, such as the proposed Robin Hood Tax that would generate billions of dollars’ worth of revenue for social, health, or environmental causes.
  • Clauses on dispute settlement in earlier free trade agreements have been invoked to challenge efforts to regulate big business. The fossil fuel industry is seeking to overturn Quebec’s ban on the ecologically destructive practice of fracking. Veolia, the French behemoth known for building a tram network to serve Israeli settlements in occupied East Jerusalem, is contesting increases in Egypt’s minimum wage. The tobacco maker Philip Morris is suing against anti-smoking initiatives in Uruguay and Australia. The TPP would empower not just foreign manufacturers but foreign financial firms to attack financial policies in foreign tribunals, demanding taxpayer compensation for regulations that they claim frustrate their expectations and inhibit their profits.
  • What is the justification for this encroachment on the sovereign rights of government? Allegedly, ISDS is necessary in order to increase foreign investment. But as noted in The Economist, investors can protect themselves by purchasing political-risk insurance. Moreover, Brazil continues to receive sizable foreign investment despite its long-standing refusal to sign any treaty with an ISDS mechanism. Other countries are beginning to follow Brazil’s lead. In an April 22nd report from the Center for Economic and Policy Research, gains from multilateral trade liberalization were shown to be very small, equal to only about 0.014% of consumption, or about $.43 per person per month. And that assumes that any benefits are distributed uniformly across the economic spectrum. In fact, transnational corporations get the bulk of the benefits, at the expense of most of the world’s population.
  • Something else besides attracting investment money and encouraging foreign trade seems to be going on. The TPP would destroy our republican form of government under the rule of law, by elevating the rights of investors – also called the rights of “capital” – above the rights of the citizens. That means that TPP is blatantly unconstitutional. But as Joe Firestone observes, neo-liberalism and corporate contributions seem to have blinded the deal’s proponents so much that they cannot see they are selling out the sovereignty of the United States to foreign and multinational corporations.
  • For more information and to get involved, visit: Flush the TPP The Citizens Trade Campaign Public Citizen’s Global Trade Watch Eyes on Trade
Gary Edwards

The secret corporate takeover of trade agreements | Business | The Guardian - 0 views

  • The US and the world are engaged in a great debate about new trade agreements. Such pacts used to be called free-trade agreements; in fact, they were managed trade agreements, tailored to corporate interests, largely in the US and the EU. Today, such deals are more often referred to as partnerships, as in the Trans-Pacific Partnership (TPP). But they are not partnerships of equals: the US effectively dictates the terms. Fortunately, America’s “partners” are becoming increasingly resistant. It is not hard to see why. These agreements go well beyond trade, governing investment and intellectual property as well, imposing fundamental changes to countries’ legal, judicial, and regulatory frameworks, without input or accountability through democratic institutions. Perhaps the most invidious – and most dishonest – part of such agreements concerns investor protection. Of course, investors have to be protected against rogue governments seizing their property. But that is not what these provisions are about. There have been very few expropriations in recent decades, and investors who want to protect themselves can buy insurance from the Multilateral Investment Guarantee Agency, a World Bank affiliate, and the US and other governments provide similar insurance. Nonetheless, the US is demanding such provisions in the TPP, even though many of its partners have property protections and judicial systems that are as good as its own.
  • The real intent of these provisions is to impede health, environmental, safety, and, yes, even financial regulations meant to protect America’s own economy and citizens. Companies can sue governments for full compensation for any reduction in their future expected profits resulting from regulatory changes. This is not just a theoretical possibility. Philip Morris is suing Uruguay and Australia for requiring warning labels on cigarettes. Admittedly, both countries went a little further than the US, mandating the inclusion of graphic images showing the consequences of cigarette smoking. The labeling is working. It is discouraging smoking. So now Philip Morris is demanding to be compensated for lost profits. In the future, if we discover that some other product causes health problems (think of asbestos), rather than facing lawsuits for the costs imposed on us, the manufacturer could sue governments for restraining them from killing more people. The same thing could happen if our governments impose more stringent regulations to protect us from the impact of greenhouse gas emissions.
  • When I chaired Bill Clinton’s council of economic advisers, when he was president, anti-environmentalists tried to enact a similar provision, called “regulatory takings”. They knew that once enacted, regulations would be brought to a halt, simply because government could not afford to pay the compensation. Fortunately, we succeeded in beating back the initiative, both in the courts and in the US Congress. But now the same groups are attempting an end run around democratic processes by inserting such provisions in trade bills, the contents of which are being kept largely secret from the public (but not from the corporations that are pushing for them). It is only from leaks, and from talking to government officials who seem more committed to democratic processes, that we know what is happening.
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  • Fundamental to America’s system of government is an impartial public judiciary, with legal standards built up over the decades, based on principles of transparency, precedent, and the opportunity to appeal unfavourable decisions. All of this is being set aside, as the new agreements call for private, non-transparent, and very expensive arbitration. Moreover, this arrangement is often rife with conflicts of interest; for example, arbitrators may be a judge in one case and an advocate in a related case. The proceedings are so expensive that Uruguay has had to turn to Michael Bloomberg and other wealthy Americans committed to health to defend itself against Philip Morris. And, though corporations can bring suit, others cannot. If there is a violation of other commitments – on labour and environmental standards, for example – citizens, unions, and civil society groups have no recourse. If there ever was a one-sided dispute-resolution mechanism that violates basic principles, this is it. That is why I joined leading US legal experts, including from Harvard, Yale, and Berkeley, in writing a letter to Barack Obama explaining how damaging to our system of justice these agreements are.
  • American supporters of such agreements point out that the US has been sued only a few times so far, and has not lost a case. Corporations, however, are just learning how to use these agreements to their advantage. And high-priced corporate lawyers in the US, Europe and Japan will likely outmatch the underpaid government lawyers attempting to defend the public interest. Worse still, corporations in advanced countries can create subsidiaries in member countries through which to invest back home, and then sue, giving them a new channel to bloc regulations. If there were a need for better property protection, and if this private, expensive dispute-resolution mechanism were superior to a public judiciary, we should be changing the law not just for well heeled foreign companies but also for our own citizens and small businesses. But there has been no suggestion that this is the case.
  • Rules and regulations determine the kind of economy and society in which people live. They affect relative bargaining power, with important implications for inequality, a growing problem around the world. The question is whether we should allow rich corporations to use provisions hidden in so-called trade agreements to dictate how we will live in the 21st century. I hope citizens in the US, Europe and the Pacific answer with a resounding no. Joseph Stiglitz, a Nobel laureate in economics, is a professor at Columbia University. His most recent book, co-authored with Bruce Greenwald, is Creating a Learning Society: A New Approach to Growth, Development, and Social Progress
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    Economist Joseph Stiglitz takes on the TPP (Trans Pacific Partnership) trade agreement, explaining how corporations will use the agreement to side step environmental and regulatory laws of sovereign nations. Amazing stuff. No doubt Wall Street Money is behind these trade agreement. The Banksters are said to own over 40% of the world's corporations and these agreements are designed to establish corporate sovereignty while greatly diminishing state sovereignty. It's the New World Order. "Terms such as 'investor' and 'partner' are taking on new meanings as multinationals manipulate deals to take legal action against sovereign states"
Gary Edwards

The List: Unnecessarily Shut Down by Obama to Inflict Public Pain - 0 views

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    "The media may or may not report on these individual occurrences, but what they will never do is provide the American people with the full context and scope of Obama's shrill pettiness. Below is a list of illogical, unnecessary, and shockingly spiteful moves our government is making in the name of essential and non-essential. This list will be regularly updated, and if you have something you feel should be added, please email me at jnolte@breitbart.com or tweet me @NolteNC.Please include a link to the news source. -- 1. Treatments for Children Suffering From Cancer - The GOP have agreed to a compromise by funding part of the government, including the National Institutes of Health, which offers children with cancer last-chance experimental treatment. Obama has threatened to veto this funding. 2. The World War II Memorial - The WWII memorial on the DC Mall is a 24/7 open-air memorial that is not regularly staffed. Although the White House must have known that WWII veterans in their eighties and nineties had already booked flights to visit this memorial, the White House still found the resources to spitefully barricade the attraction.  The Republican National Committee has offered to cover any costs required to keep the memorial open. The White House refused. Moreover, like the NIH, the GOP will pass a compromise bill that would fund America's national parks. Obama has threatened to veto that bill. 3. Furloughed Military Chaplains Not Allowed to Work for Free - Furloughed military chaplains willing to celebrate Mass and baptisms for free have been told they will be punished for doing so. 4. Business Stops In Florida Keys - Although the GOP have agreed to compromise in the ongoing budget stalemate and fund the parks, Obama has threatened to veto that funding. As a result, small businesses, hunters, and commercial fisherman can't practice their trade. While the feds have deemed the personnel necessary to keep this area open "non-essential," the "enforcement office
Gary Edwards

The Daily Bell - Occupy Wall Street Demands Global UN Tax and Worldwide G20 Protest - 0 views

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    Occupy's busting out on a new path ... So Adbusters is asking people all around the world to march on Oct. 29. "We want to send a clear message that we the people want to slow down this global casino." And Adbusters does have one specific demand, a 1 percent tax on financial-sector transactions (perhaps stocks, bonds, foreign-currency trades and derivatives). Some form of that idea, known as the "Robin Hood" tax, has been around for a while and might actually fly. - Jerry Large/Seattle Times Dominant Social Theme: We want justice for the world and the UN will give it to us. Free-Market Analysis: Kalle Lasn, founder of Adbusters magazine, based in Vancouver, B.C. - the magazine that issued the call for the initial Occupy Wall Street protests - has called on people to protest the upcoming G20 while demanding a one-percent tax on financial transactions. The revenue raised would be enormous and the lingering question is where this incredible revenue stream would be directed. The answer is obvious to those who follow what we call "directed history." The intention is likely to fund the UN as part of a final push to rationalize and perfect the initial stages of true world government. As we have written before, the movement toward world government is happening very quickly now. The ramifications are enormous and people who write off these protests as spontaneous and short-lived are not grasping what is taking place, in our humble opinion. The financial sales tax has been around for a very long time but has found its most recent voice in a column by Jerry Large of the Seattle Times. He recently gained an exclusive interview with Kalle Lasn, who sounds as if he hopes that a large protest on Oct 29th will mark the beginning of a push for such a tax. What's going on is pure one-worldism, an OWS ideology that is gradually revealing itself in dribs and drabs. It is one reason that that the OWS leaders have made no specific demands. They have hoped to create a momentu
Gary Edwards

What Is or Should Be the Law? essay on Frederik Bastiat's "The Law" - 1 views

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    Jeffrey Tucker at The Daily Reckoning wonders about all those Presidential Executive Orders that make Law while by-passing the Congressional process and making mockery of the USA Constitution.  He ends up referencing the great libertarian, Frederick Bastiat's seminal work, The Law - written in 1849.    
    excerpt: One party gets annoyed when the other party's president enacts laws without regard to any constitutional conventions.
    But what is the law, and what should it be? These are the bigger questions that are not part of public consciousness.
    The same was true in the time of Frédéric Bastiat (1801-50). At the very end of his life, he wrote an impassioned plea on the topic. He tried to get people to think hard about what was happening and how law had become an instrument of plunder, rather than a protector of property.
    He writes:
    ...... "It is not true that the function of law is to regulate our consciences, our ideas, our wills, our education, our opinions, our work, our trade, our talents or our pleasures. The function of law is to protect the free exercise of these rights, and to prevent any person from interfering with the free exercise of these same rights by any other person." .......
    This is from Bastiat's The Law, one of the great political essays to emerge from the whole Continental world of the 19th century. It vanished into obscurity in France, was resurrected in late 19th century English, and then disappeared again, only to reappear in the United States in the 1950s, thanks to the efforts of the Foundation of Economic Education.
    This essay asks fundamental questions that most people go through life never having thought about.
    The problem is that most people accept the law as a given, a fundamental fact. As a member of society, you obey or face the consequences. It is not safe to question why. This is because the enforcement arm of the law is the state, that peculiar agency with a unique power in society to
Gary Edwards

The Biggest Price-Fixing Scandal Ever - and the VESTS Solution - 0 views

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    excerpt: Uber financial investigative journalist Matt Taibbi has discovered what we too realized when we began to scrutinize the financial industry. In his latest article, he writes, "Everything Is Rigged: The Biggest Price-Fixing Scandal Ever." The article's cut line is, "The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix." Taibbi's incredulity is evident throughout the article, as well it should be. The interest-rate swap market is part of the larger derivatives market that totals over one billion TRILLION dollars............................... "Given the endless financial scandals that keep sweeping across the industry, it is fairly obvious that this regulatory system needs a good deal of improvement. In fact, I think that it may be no coincidence that so much is being revealed now. The idea is surely to create the conditions for another international regulatory effort that will end up further controlling what is left of free-market capital raising. It is a global game for globalists. The game is to regulate everything and then to position oneself above the regulations and above the governments that wield them. This gives you tremendous power over everyone else. One of the tools being used to whip up sentiment for a larger regulatory revisiting is scandal and more scandal. There have been revelations of so-called crooked practices in a number of areas lately, mostly in the area of industry pricing. It turns out that many standard prices are set via indications of interest rather than outright competition. We can see the same system at work in the gold market, where a small group of wise men set the price for physical gold every day. And now, as Taibbi and others have revealed, the dysfunctional system also affects interest rate swaps. This has incensed Taibbi, who opens his article as follows: Conspiracy theorists of the world, believers in the
Paul Merrell

Can the AEC be a success? - nsnbc international | nsnbc international - 0 views

  • After almost two decades of discussion, the ASEAN Economic Community (AEC) will be proclaimed on 31st December. The AEC is a potentially significant and competitive economic region, should it be allowed to develop according to the aspiration of being a “single market and production base, with free flow of services, investments, and labour, by the year 2020”.
  • The ASEAN region as a composite trading block has the third highest population at 634 million, after China and India. GDP per capita is rapidly rising. The AEC would be the 4th largest exporter after China, the EU, and the United States, with still very much scope for growth from Cambodia, Myanmar, the Philippines, and Vietnam from a diverse range of activities ranging from agriculture, food, minerals and commodities, electronics, and services. The coming AEC is already the 4th largest importer of goods after the United States, EU, and China, making it one of the biggest markets in the world. Unlike the other trade regions, the AEC still has so much potential for growth with rising population, rising incomes, growing consumer sophistication, and improving infrastructure. Perhaps the biggest benefit of the upcoming AEC is the expected boost this will give to intra-ASEAN trade. Most ASEAN nations have previously put their efforts into developing external relationships with the major trading nations like the EU, Japan and the US through bilateral and free trade agreements. To some extent, the potential of intra-ASEAN trade was neglected, perhaps with the exception of the entrepot of Singapore. The AEC is an opportunity to refocus trade efforts within the region, especially when Vietnam, Cambodia, Indonesia are rapidly developing, and Myanmar is opening up for business with the rest of the region.
  • There are no integrated banking structures, no agreement on common and acceptable currencies (some ASEAN currencies are not interchangeable), no double taxation agreements, and no formal agreements on immigration. There is not even any such thing as a common ASEAN business visa. These issues are going to hinder market access for regional SMEs. Any local market operations will have to fulfil local laws and regulations which may not be easy for non-citizens to meet and adhere to. Even though there are some preferential tariffs for a number of classes of ASEAN originating goods, non-tariff barriers are still in existence, which are insurmountable in some cases like the need for import licenses (APs) in Malaysia, and the need to have a registered company which can only be formed by Thai nationals within Thailand. Some of these problems are occurring because of the very nature of ASEAN itself. ASEAN was founded on the basis of consultation, consensus, and non-interference in the internal affairs of other members. This means that no formal problem solving mechanism exists, and the ASEAN Secretariat is a facilitator rather than implementer of policy. Illegal workers, human trafficking, money laundering, and haze issues between member states have no formal mechanisms through which these issues can be solved from an ASEAN perspective. This weakens the force for regional integration.
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  • However the necessary infrastructure to support intra-ASEAN trade growth is lagging behind with a delay in the completion of the Trans-Asia Highway in Cambodia, and vastly inadequate border checkpoints between Malaysia and Thailand in Sadao and Kelantan. Some infrastructure development projects have been severely hit by finance shortfalls within member states. There are a number of outstanding issues concerning the growth and development of the AEC. The ASEAN Secretariat based in Jakarta has a small staff, where the best talent is lacking due to the small salaries paid. The Secretariat unlike the EU bureaucratic apparatus in Brussels relies on cooperation between the member state governments for policy direction, funding and implementation of the AEC. Thus the frontline of AEC implementation are the individual country ministries, which presents many problems, as some issues require multi-ministry cooperation and coordination, which is not always easy to achieve as particular ministries have their own visions and agendas. Getting cooperation of these ministries isn’t easy. There are numerous structural and procedural issues yet to be contended with. At the inter-governmental level, laws and regulations are yet to be coordinated and harmonized. So in-effect there is one community with 10 sets of regulations in effect this coming January 1st. Consumer laws, intellectual property rights, company and corporate codes (no provision for ASEAN owned companies), land codes, and investment rules are all different among the individual member states.
  • One of the major issues weakening the potential development of the AEC is the apparent lack of political commitment for a common market by the leadership of the respective ASEAN members. Thailand is currently in a struggle to determine how the country should be governed. Malaysia is in the grip of corruption scandals where the prime minister is holding onto power. Myanmar is going through a massive change in the way it will be governed. Indonesia is still struggling with how its archipelago should be governed. There is a view from Vietnam that business within the country is not ready for the AEC. Intense nationalistic sentiments among for example Thais, exasperated by the recent Preach Vihear Temple conflict along the Thai-Cambodian border need to be softened to get full advantage out of the AEC. The dispute in the International Court of Justice over Pedra Branca, and the Philippine rift with China over the South China Sea show the delicacy of relationships among ASEAN members. The recent Thai court decision on the guilt of Zaw Lin and Win Zaw Tun in the murder of two young British tourists may also show how fragile intra-ASEAN relationships can be. The AEC is going to fall far short of achieving its full potential of becoming a major influence in global trade. The AEC is not intended to be the same model as the EEC. The AEC is far from being any fully integrated economic community. The lack of social, cultural, and political integration within the ASEAN region indicates the massive job ahead that Europe had been through decades ago. There is still a lot of public ignorance about what the AEC is, and lack of excitement or expectation for what should be a major event within the region. Respective national media are scant on information about the forthcoming launch of the AEC.
Paul Merrell

From Energy War to Currency War: America's Attack on the Russian Ruble | Global Research - 0 views

  • Putin announced that Russia has cancelled the South Stream project on December 1, 2014. Instead the South Stream pipeline project has been replaced by a natural gas pipeline that goes across the Black Sea to Turkey from the Russian Federation’s South Federal District. This alternative pipeline has been popularly billed the «Turk Stream» and partners Russian energy giant Gazprom with Turkey’s Botas. Moreover, Gazprom will start giving Turkey discounts in the purchase of Russian natural gas that will increase with the intensification of Russo-Turkish cooperation. The natural gas deal between Ankara and Moscow creates a win-win situation for both the Turkish and Russian sides. Not only will Ankara get a discount on energy supplies, but Turk Stream gives the Turkish government what it has wanted and desired for years. The Turk Stream pipeline will make Turkey an important energy corridor and transit point, complete with transit revenues. In this case Turkey becomes the corridor between energy supplier Russia and European Union and non-EU energy customers in southeastern Europe. Ankara will gain some leverage over the European Union and have an extra negotiating card with the EU too, because the EU will have to deal with it as an energy broker.
  • For its part, Russia has reduced the risks that it faced in building the South Stream by cancelling the project. Moscow could have wasted resources and time building the South Stream to see the project sanctioned or obstructed in the Balkans by Washington and Brussels. If the European Union really wants Russian natural gas then the Turk Stream pipeline can be expanded from Turkey to Greece, the former Yugoslav Republic (FYR) of Macedonia, Serbia, Hungary, Slovenia, Italy, Austria, and other European countries that want to be integrated into the energy project. The cancellation of South Stream also means that there will be one less alternative energy corridor from Russia to the European Union for some time. This has positive implications for a settlement in Ukraine, which is an important transit route for Russian natural gas to the European Union. As a means of securing the flow of natural gas across Ukrainian territory from Russia, the European Union will be more prone to push the authorities in Kiev to end the conflict in East Ukraine.
  • From the perspective of Russian Presidential Advisor Sergey Glazyev, the US is waging its multi-spectrum war against Russia to ultimately challenge Moscow’s Chinese partners. In an insightful interview, Glazyev explained the following points to the Ukrainian journalist Alyona Berezovskaya — working for a Rossiya Segodnya subsidiary focusing on information involving Ukraine — about the basis for US hostility towards Russia: the bankruptcy of the US, its decline in competitiveness on global markets, and Washington’s inability to ultimately save its financial system by servicing its foreign debt or getting enough investments to establish some sort of innovative economic breakthrough are the reasons why Washington has been going after the Russian Federation. [13] In Glazyev’s own words, the US wants «a new world war». [14] The US needs conflict and confrontation, in other words. This is what the crisis in Ukraine is nurturing in Europe. Sergey Glazyev reiterates the same points months down the road on September 23, 2014 in an article he authors for the magazine Russia in Global Affairs, which is sponsored by the Russian International Affairs Council — a think-tank founded by the Russian Foreign Ministry and Russian Ministry of Education 2010 — and the US journal Foreign Affairs — which is the magazine published by the Council on Foreign Relation in the US. In his article, Glazyev adds that the war Washington is inciting against Russia in Europe may ultimately benefit the Chinese, because the struggle being waged will weaken the US, Russia, and the European Union to the advantage of China. [15] The point of explaining all this is to explain that Russia wants a balanced strategic partnership with China. Glazyev himself even told Berezovskaya in their interview that Russia wants a mutually beneficial relationship with China that does reduce it to becoming a subordinate to Beijing. [16]
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  • It is because of the importance of Irano-Turkish and Russo-Turkish trade and energy ties that Ankara has had an understanding with both Russia and Iran not to let politics and their differences over the Syrian crisis get in the way of their economic ties and business relationships while Washington has tried to disrupt Irano-Turkish and Russo-Turkish trade and energy ties like it has disrupted trade ties between Russia and the EU. [9] Ankara, however, realizes that if it lets politics disrupt its economic ties with Iran and Russia that Turkey itself will become weakened and lose whatever independence it enjoys Masterfully announcing the Russian move while in Ankara, Putin also took the opportunity to ensure that there would be heated conversation inside the EU. Some would call this rubbing salt on the wounds. Knowing that profit and opportunity costs would create internal debate within Bulgaria and the EU, Putin rhetorically asked if Bulgaria was going to be economically compensated by the European Commission for the loss.
  • It is clear that Russian business and trade ties have been redirected to the People’s Republic of China and East Asia. On the occasion of the Sino-Russian mega natural gas deal, this author pointed out that this was not as much a Russian countermove to US economic pressure as it was really a long-term Russian strategy that seeks an increase in trade and ties with East Asia. [10] Vladimir Putin himself also corroborated this standpoint during the December 18 press conference mentioned earlier when he dismissed — like this author — the notion that the so-called «Russian turn to the East» was mainly the result of the crisis in Ukraine. In President Putin’s own words, the process of increasing business ties with the Chinese and East Asia «stems from the global economic processes, because the East – that is, the Asia-Pacific Region – shows faster growth than the rest of the world». [11] If this is not convincing enough that the turn towards East Asia was already in the works for Russia, then Putin makes it categorically clear as he proceeds talking at the December 18 press conference. In reference to the Sino-Russian gas deal and other Russian projects in East Asia, Putin explained the following: «The projects we are working on were planned long ago, even before the most recent problems occurred in the global or Russian economy. We are simply implementing our long-time plans». [12]
  • According to Presidential Advisor Sergey Glazyev, Washington is «trying to destroy and weaken Russia, causing it to fragment, as they need this territory and want to establish control over this entire space». [18] «We have offered cooperation from Lisbon to Vladivostok, whereas they need control to maintain their geopolitical leadership in a competition with China,» he has explained, pointing out that the US wants lordship and is not interested in cooperation. [19] Alluding to former US top diplomat Madeline Albright’s sentiments that Russia was unfairly endowed with vast territory and resources, Putin also spoke along similar lines at his December 18 press conference, explaining how the US wanted to divide Russia and control the abundant natural resources in Russian territory. It is of little wonder that in 2014 a record number of Russian citizens have negative attitudes about relations between their country and the United States. A survey conducted by the Russian Public Opinion Research Center has shown that of 39% of Russian respondents viewed relations with the US as «mostly bad» and 27% as «very bad». [20] This means 66% of Russian respondents have negative views about relations with Washington. This is an inference of the entire Russian population’s views. Moreover, this is the highest rise in negative perceptions about the US since 2008 when the US supported Georgian President Mikheil Saakashvili in Tbilisi’s war against Russia and the breakaway republic of South Ossetia; 40% viewed them as «mostly bad» and 25% of Russians viewed relations as «very bad» and at the time. [21]
  • In more ways than one the Turk Stream pipeline can be viewed as a reconfigured of the failed Nabucco natural gas pipeline. Not only will Turk Stream court Turkey and give Moscow leverage against the European Union, instead of reducing Russian influence as Nabucco was originally intended to do, the new pipeline to Turkey also coaxes Ankara to align its economic and strategic interests with those of Russian interests. This is why, when addressing Nabucco and the rivalries for establishing alternate energy corridors, this author pointed out in 2007 that «the creation of these energy corridors and networks is like a two-edged sword. These geo-strategic fulcrums or energy pivots can also switch their directions of leverage. The integration of infrastructure also leads towards economic integration». [8] The creation of Turk Stream and the strengthening of Russo-Turkish ties may even help placate the gory conflict in Syria. If Iranian natural gas is integrated into the mainframe of Turk Stream through another energy corridor entering Anatolia from Iranian territory, then Turkish interests would be even more tightly aligned with both Moscow and Tehran. Turkey will save itself from the defeats of its neo-Ottoman policies and be able to withdraw from the Syrian crisis. This will allow Ankara to politically realign itself with two of its most important trading partners, Iran and Russia.
  • Whatever Washington’s intentions are, every step that the US takes to target Russia economically will eventually hurt the US economy too. It is also highly unlikely that the policy mandarins in Beijing are unaware of what the US may try to be doing. The Chinese are aware that ultimately it is China and not Russia that is the target of the United States.
  • The United States is waging a fully fledged economic war against the Russian Federations and its national economy. Ultimately, all Russians are collectively the target. The economic sanctions are nothing more than economic warfare. If the crisis in Ukraine did not happen, another pretext would have been found for assaulting Russia. Both US Assistant-Secretary of State Victoria Nuland and US Assistant-Secretary of the Treasury Daniel Glaser even told the Foreign Affairs Committee of the US House of Representatives in May 2014 that the ultimate objectives of the US economic sanctions against Russia are to make the Russian population so miserable and desperate that they would eventually demand that the Kremlin surrender to the US and bring about «political change». «Political change» can mean many things, but what it most probably implies here is regime change in Moscow. In fact, the aims of the US do not even appear to be geared at coercing the Russian government to change its foreign policy, but to incite regime change in Moscow and to cripple the Russian Federation entirely through the instigation of internal divisions. This is why maps of a divided Russia are being circulated by Radio Free Europe. [17]
  • Without question, the US wants to disrupt the strategic partnership between Beijing and Moscow. Moscow’s strategic long-term planning and Sino-Russian cooperation has provided the Russia Federation with an important degree of economic and strategic insulation from the economic warfare being waged against the Russian national economy. Washington, however, may also be trying to entice the Chinese to overplay their hand as Russia is economically attacked. In this context, the price drops in the energy market may also be geared at creating friction between Beijing and Moscow. In part, the manipulation of the energy market and the price drops could seek to weaken and erode Sino-Russian relations by coaxing the Chinese into taking steps that would tarnish their excellent ties with their Russian partners. The currency war against the Russian ruble may also be geared towards this too. In other words, Washington may be hoping that China becomes greedy and shortsighted enough to make an attempt to take advantage of the price drop in energy prices in the devaluation of the Russian ruble.
  • Russia can address the economic warfare being directed against its national economy and society as a form of «economic terrorism». If Russia’s banks and financial institutions are weakened with the aim of creating financial collapse in the Russian Federation, Moscow can introduce fiscal measures to help its banks and financial sector that could create economic shockwaves in the European Union and North America. Speaking in hypothetical terms, Russia has lots of options for a financial defensive or counter-offensive that can be compared to its scorched earth policies against Western European invaders during the Napoleonic Wars, the First World War, and the Second World War. If Russian banks and institutions default and do not pay or delay payment of their derivative debts and justify it on the basis of the economic warfare and economic terrorism, there would be a financial shock and tsunami that would vertebrate from the European Union to North America. This scenario has some parallels to the steps that Argentina is taken to sidestep the vulture funds.
  • The currency war eventually will rebound on Washington and Wall Street. The energy war will also reverse directions. Already, the Kremlin has made it clear that it and a coalition of other countries will de-claw the US in the currency market through a response that will neutralize US financial manipulation and the petro-dollar. In the words of Sergey Glazyev, Moscow is thinking of a «systemic and comprehensive» response «aimed at exposing and ending US political domination, and, most importantly, at undermining US military-political power based on the printing of dollars as a global currency». [22] His solution includes the creation of «a coalition of sound forces advocating stability — in essence, a global anti-war coalition with a positive plan for rearranging the international financial and economic architecture on the principles of mutual benefit, fairness, and respect for national sovereignty». [23] The coming century will not be the «American Century» as the neo-conservatives in Washington think. It will be a «Eurasian Century». Washington has taken on more than it can handle, this may be why the US government has announced an end to its sanctions regime against Cuba and why the US is trying to rekindle trade ties with Iran. Despite this, the architecture of the post-Second World War or post-1945 global order is now in its death bed and finished. This is what the Kremlin and Putin’s presidential spokesman and press secretary Dmitry Peskov mean when they impart—as Peskov stated to Rossiya-24 in a December 17, 2014 interview — that the year 2014 has finally led to «a paradigm shift in the international system».
Gary Edwards

The Daily Bell - Richard Ebeling on Higher Interest Rates, Collectivism and the Coming ... - 0 views

  • The "larger dysfunction," as you express it, arises out of a number of factors. The primary one, in my view, is a philosophical and psychological schizophrenia among the American people.
  • While many on "the left" ridicule the idea, there is a strong case for the idea of "American exceptionalism," meaning that the United States stands out as something unique, different and special among the nations of the world.
  • the American Founding Fathers constructed a political system in the United States based on a concept on which no other country was consciously founded:
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  • But the American Revolution and the US Constitution hailed a different conception of man, society and government.
  • n the rest of the world, and for all of human history, the presumption has been that the individual was a slave or a subject to a higher authority. It might be the tribal chief; or the "divinely ordained" monarch who presumed to rule over and control people in the name of God; or, especially after the French Revolution and the rise of modern socialism, "the nation" or "the people" who laid claim to the life and work of the individual.
  • the idea of individual rights.
  • That is, as long as the individual did not violate the equal rights of others to their life, liberty and property, each person was free to shape and guide his own future, and give meaning and value to his own life as he considered best in the pursuit of that happiness that was considered the purpose and goal of each man during his sojourn on this Earth.
  • Governments did not exist to give or bestow "rights" or "privileges" at its own discretion.
  • Governments were to secure and protect each individual's rights, which he possessed by "the nature of things."
  • The individual was presumed to own himself. He was "sovereign."
  • The real and fundamental notion of "self-government" referred to the right of each individual to rule over himself.
  • Each individual, by his nature and his reason, had a right to his life, his liberty and his honestly acquired property.
  • during the first 150 years of America's history there was virtually no Welfare State and relatively few government regulations, controls and restrictions on the choices and actions of the free citizen.
  • But for more than a century, now, an opposing conception of man, society and government has increasingly gained a hold over the ideas and attitudes of people in the US.
  • It was "imported" from Europe in the form of modern collectivism.
  • The individual was expected to see himself as belonging to something "greater" than himself. He was to sacrifice for "great national causes."
  • He was told that if life had not provided all that he desired or hoped for, it was because others had "exploited" him in some economic or social manner, and that government would redress the "injustice" through redistribution of wealth or regulation of the marketplace.
  • If he had had financial and material success, the individual should feel guilty and embarrassed by it, because, surely, if some had noticeably more, it could only be because others had been forced to live with noticeably less.
  • left on its own, free competition tends to evolve into harmful monopolies and oligopolies, with the wealthy "few" benefiting at the expense of the "many."
  • They are the crises of the Interventionist-Welfare State: the attempt to impose reactionary collectivist policies of political paternalism and redistributive plunder on a society still possessing parts of its original individualist and rights-based roots.
  • it is in the form of communism's and socialism's critique of capitalism.
  • Unregulated capitalism leads to "unearned" and "excessive" profits; unbridled markets generate the business cycle and the hardships of recessions and depressions;
  • These two conflicting conceptions of man, society and government have been and are at war here in the United States.
  • And if it cannot be gotten and guaranteed through the redistributive mechanisms of the European Union and the euro, well, maybe we should return power to our own nation-states to provide the jobs, the social "safety nets" and the financial means to pay for it through, once again, printing our own national paper currencies.
  • This is the political-philosophical bankruptcy of the West and the dead ends of the collectivist promises of the last 100 years.
  • Ludwig von Mises's book, Socialism: An Economic and Sociological Analysis, originally published in 1922, demonstrated how and why a socialist, centrally planned system was inherently unworkable.
  • The nationalization of productive property, the abolition of markets and the prohibition of all competitive exchange among the members of society would prevent the emergence and operation of a price system, without which it is impossible to know people's demands for desired goods and the relative value they place on them.
  • It also prevents the emergence of prices for the factors of production (land, labor, capital) and makes it impossible to know their opportunity costs – the value of those factors of production in alternative competing uses among entrepreneurs desiring to employ them.
  • Without such a price system the central planners are flying blind, unable to rationally know or decide how best to utilize labor, capital and resources in productively efficient ways to make the goods and services most highly valued by the consuming public.
  • Thus, Mises concluded, comprehensive socialist central planning would lead to "planned chaos."
  • And, therefore, there is no guarantee that the amount of investments undertaken and their time horizons are compatible with the available resources not also being demanded and used for more immediate consumer goods production in the society.
  • As a consequence, financial markets do not work like real markets.
  • Thus, the interventionist state leads to waste, inefficiency and misuses of resources that lower the standards of living that we all, otherwise, could have enjoyed.
  • We cannot be sure what the amount of real savings may be in the society to support real and sustainable investment and capital formation.
  • Government intervention prevents prices from "telling the truth" about the real supply and demand conditions thus leading to imbalances and distortions in the market.
  • We cannot know what the "real cost" of borrowing should be, since interest rates are not determined by actual, private sector savings and investment decisions.
  • Government production regulations, controls, restrictions and prohibitions prevent entrepreneurs from using their knowledge, ability and capital in ways that most effectively produce the goods consumers actually want and at the most cost-competitive prices possible.
  • This is why countries around the world periodically experience booms and busts, inflations and recessions − not because of some inherent instabilities or "irrationalities" in financial markets, but because of monetary central planning through central banking that does not allow market-based financial intermediation to develop and work as it could and would in a real free-market setting.
  • But in the United States and especially in Europe, government "austerity" means merely temporarily reducing the rate of increase in government spending, slowing down the rate at which new debt is accumulating and significantly raising taxes in an attempt to close the deficit gap.
  • The fundamental problem is that over the decades, the size and scope of governments in the Western world have been growing far more than the rates at which their economies have been expanding, so that the "slice" of the national economic "pie" eaten by government has been growing larger and larger, even when the "pie" in absolute terms is bigger than it was, say, 30 or 40 years ago.
  • European governments, in general, take the view that "austerity" means squeezing the private sector more through taxes and other revenue sources to avoid any noticeable and significant cuts in what government does and spends.
  • So there is "austerity" for the private sector and a mad rush for financial "safety nets" for the government and those who live off the State.
  • In reality, of course, it is the burdens of government regulation, taxation and impediments to more flexible labor and related markets that have generated the high unemployment rates and the retarded recovery from the recession.
  • Instead, the "common market" ideal has been transformed into the goal of a European Union "Super-State" to which the individual countries and their citizens would be subservient and obedient.
  • Keynesian policies offer people and politicians what they want to hear. Claiming that any sluggish business or lost jobs are due to a lack of "aggregate demand," Keynes argued that full employment and profitable business could only be reestablished and maintained through "activist" government monetary and fiscal policy – print money and run budget deficits.
  • What Britain and Europe should have as its goal is the ideal of the classical liberal free traders of the 19th century – non-intervention by governments in people's lives, at home and abroad. That is, a de-politicization of society, so people may freely work, trade and travel as they peacefully wish, with government merely the protector of people's individual rights.
  • Take the benefits away and tell people they are free to come and work to support themselves and their families. Restore more flexibility and competitiveness to labor markets and reduce taxes and business regulations.
  • Then those who come to Britain's shores will be those wanting freedom and opportunity without being a burden upon others.
  • What was needed was a change in ideas from the statist mentality to one of individual freedom and unhampered free markets.
  • In an epoch of collectivist ideas, don't be surprised if governments regulate, control, intervene and redistribute wealth.
  • The tentacle of regulations, restrictions and politically-correct social controls are spreading out in every direction from Brussels and its European-wide manipulating and mismanaging bureaucracy.
  • In the name of assuring "national prosperity," politicians could spend money to buy the votes that get them elected and reelected to government offices.
  • And every special interest group could make the case that government-spending programs that benefitted them were all reasonable and necessary to assure a fully employed and growing economy.
  • Furthermore, the Keynesian rationale for government deficit spending enabled politicians to seem to be able to offer something for nothing. They could offer, say, $100 of government spending to voters and special interest groups but the tax burden imposed in the present might only be $75, since the remainder of the money to pay for that government spending was borrowed. And that borrowed money would not have to be repaid until some indefinite time in the future by unspecific taxpayers when that "tomorrow" finally arrived.
  • instability
  • Keynes argued that the market economy's inherent
  • arose from the
  • who were subject to irrational and unpredictable waves of "optimism" and "pessimism."
  • animal spirits" of businessmen
  • Mises argued that there was nothing inherent in the market economy to bring about these swings of economic booms followed by periods of depression and unemployment.
  • If markets got out of balance with the necessity of an eventual correction in the economy to, once again, set things right, the source of this instability was government monetary policy.
  • Central banks too often followed a policy of trying to create "good times" in the economy by expanding the money supply through the banking system.
  • With new, excess funds created by the central bank available for lending, banks lower rates of interest to attract borrowers.
  • But this throws savings and investment out of balance, since the rate of interest no longer serves as a reliable indicator and signal concerning the availability of real savings in the economy in relation to those wanting to borrow funds for various investment purposes.
  • The economic crisis comes when it is discovered that all the claims on resources, capital and labor for all the attempted consumption and investment activities in the economy are greater than the actual and available amounts of such scarce resources.
  • The recession period, in Mises's view, is the necessary "correction" period when in the post-boom era, people must adapt and adjust to the newly discovered "real" supply and demand conditions in the market.
  • Any interference with the "rebalancing" of the economy by government raising taxes, imposing more regulations, or new artificial government "stimulus" activities merely makes it more difficult and time-consuming for people in the private sector to get the economy back on an even keel.
  • Friedrich A. Hayek, once observed, unemployment is not "caused" by stopping an inflation, but rather inflation induces the artificial employments that cannot be sustained and which inevitably disappear once the inflation is reined in.
  • The recession of 2008-2009 was the result of several years of central bank stimulus.
  • From 2003 to 2008, the Federal Reserve increased the money supply by about 50 percent.
  • Interest rates for much of this time, when adjusted for inflation, were either zero or negative.
  • Awash in cash, banks extended loans to virtually anyone, with no serious and usual concern about the borrower's credit-worthiness.
  • This was most notably true in the housing market, where government agencies like Fannie May and Freddie Mac were pressuring banks to make mortgage loans by promising a guarantee that they would make good on any bad home loans.
  • Since 2008-2009, the Federal Reserve has, again, turned on the monetary spigot, increasing its own portfolio by almost $3 trillion, by buying US Treasuries, US mortgages and other assets.
  • So why has there not been a complementary explosion of price inflation?
  • In some areas there has been, most clearly in the stock market and the bond market, But the reason why all that newly created money has not brought about a higher price inflation is due to the fact that a large part of all newly created money is sitting as unlent reserves in banks.
  • This is because the Federal Reserve has been paying banks a rate of interest slightly above the market interest rates to induce banks not to lend.
  • (a) general "regime uncertainty," that is, no one knows what government policy will be tomorrow; will ObamaCare be fully implemented after January 2014?;
  • Among the reasons for the sluggish jobs growth in the US are:
  • (b) what will taxes be for the rest of the current president's term in the White House
  • (c) what will the regulatory environment be like for the next three years – in 2012, the government implemented around 80,000 pages of regulations as printed in the Federal Registry;
  • (d) how will the deficit and debt problems play out between Congress and the White House and will it threaten the general financial situation in the country; an
  • (e) what wars, if any, will the government find itself involved in, in places like the Middle East?
  • China
  • is still a controlled and commanded society, with a government that works hard to try to determine what people read, see and think.
  • All these building projects have been brought into existence by a government that not only controls the money supply and manipulates interest rates but also heavy-handedly tells banks whom to specifically loan to and for what investment activities.
  • Central planning is alive and well in China, with the motives being both power and profits for those inside and outside the Communist Party having the most influence and connections in "high" places.
  • In my opinion, China is heading for a great economic crisis, resulting from a highly imbalanced and distorted economic system still guided far more by politics than sound market decision-making.
  • global financial markets in any foreseeable future. It is a money that still primarily exists to serve the political purposes of those who sit in the "inner circles" of power in Beijing.
  • One hundred years ago, in 1913, how many could have predicted that a year later a European-wide war would break out that would lead to the destruction of great European empires and set the stage for the rise of totalitarian collectivism that resulted in an even worse global war two decades later?
  • Thus, whether, at the end of the day, freedom triumphs and the future is one of liberty and prosperity is partly on each one of us.
  • Near the end of his great book, Socialism, Ludwig von Mises said:
  • "Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping towards destruction. Therefore, everyone, in his own interest, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interests of everyone hang on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us . . . Whether society shall continue to evolve or where it shall decay lies . . . in the hands of man."
  • In my view, the idea of a "soft landing" is an illusion based on the idea held by central bankers, themselves, that they have the wisdom and ability to know how to "micro-manage" the all the changes and adjustments resulting from their own manipulations of the monetary aggregates. They do not have this wisdom and ability. So hold on for what is most likely to be another rocky road.
  • It was Mises's clear vision that once society has broken the relationship between value and payment, sooner or later people would not know the price of anything.
  • At this point, investment ceases and business becomes furtive and transactional.
  • People cannot plan for the future because they do not understand the reality of the present.
  • Society begins to sink.
  •  
    Incredible.  A simple explanation that explains everything.  Rchard Ebeling's "Unified Theory of Everything" is something every American can understand.  If only they would take a break from "Dancing with the Stars" and pay attention to the future of their country and the world.  It's a future where either "individual freedom", as defined by our Constitution and Declaration of Independence, will win out; or, the forces of fascist socialism / marxism will continue to roll and rule.  Incredible read!!!!
Paul Merrell

Lawmakers Say TPP Meetings Classified To Keep Americans in the Dark | Global Research - 0 views

  • US Trade Representative Michael Froman is drawing fire from Congressional Democrats for the Obama adminstration’s continued imposition of secrecy surrounding the Trans-Pacific Parternship. (Photo: AP file) Democratic lawmaker says tightly-controlled briefings on Trans-Pacific Partnership deal are aimed at keeping US constituents ignorant about what’s at stake Lawmakers in Congress who remain wary of the Trans-Pacific Partnership (TPP) trade agreement are raising further objections this week to the degree of secrecy surrounding briefings on the deal, with some arguing that the main reason at least one meeting has been registered “classified” is to help keep the American public ignorant about giveaways to corporate interests and its long-term implications.
  • As The Hill reports: Members will be allowed to attend the briefing on the proposed trade pact with 12 Latin American and Asian countries with one staff member who possesses an “active Secret-level or high clearance” compliant with House security rules. Rep. Rosa DeLauro (D-Conn.) told The Hill that the administration is being “needlessly secretive.” “Even now, when they are finally beginning to share details of the proposed deal with members of Congress, they are denying us the ability to consult with our staff or discuss details of the agreement with experts,” DeLauro told The Hill. Rep. Lloyd Doggett (D-Texas) condemned the classified briefing. “Making it classified further ensures that, even if we accidentally learn something, we cannot share it. What is [Froman]working so hard to hide? What is the specific legal basis for all this senseless secrecy?” Doggett said to The Hill. “Open trade should begin with open access,” Doggett said. “Members expected to vote on trade deals should be able to read the unredacted negotiating text.”
  • “I’m not happy about it,” Rep. Alan Grayson (D-Fla.) told the Huffington Post, referring to the briefing with Froman and Labor Secretary Thomas Perez on Wednesday. The meeting—focused on the section of the TPP that deals with the controversial ‘Investor-State Dispute Settlement’ (ISDS) mechanism—has been labeled “classified,” so that lawmakers and any of their staff who attend will be barred, under threat of punishment, of revealing what they learn with constituents or outside experts. According to the Huffington Post: ISDS has been part of U.S. free trade agreements since NAFTA was signed into law in 1993, and has become a particularly popular tool for multinational firms over the past few years. But while the topic remains controversial, particularly with Democrats, many critics of the administration emphasize that applying national security-style restrictions on such information is an abuse of the classified information system. An additional meeting earlier on Wednesday on currency manipulation with Froman and Treasury Secretary Jack Lew is not classified.
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  • Among its other critics, Sen. Elizabeth Warren has slammed the idea of ISDS provisions as a surrender of democratic ideals to corporate interests. According to Warren, ISDS would simply “tilt the playing field in the United States further in favor of big multinational corporations.” By having unchallenged input on secretive TPP talks, Warren argued last month, these large companies and financial interests “are increasingly realizing this is an opportunity to gut U.S. regulations they don’t like.” According to Grayson, putting Wednesday’s ISDS briefing in a classified setting “is part of a multi-year campaign of deception and destruction. Why do we classify information? It’s to keep sensitive information out of the hands of foreign governments. In this case, foreign governments already have this information. They’re the people the administration is negotiating with. The only purpose of classifying this information is to keep it from the American people.”
Gary Edwards

Google News - 0 views

  •  
    WOW!!! Incredible presentation concerning the history of Freedom vs. Tyranny. WOW!! If ever there's a MUST Watch, this is it. Very impressive and sweeping comparison of how authoritarian collectivist seize power in a free society and establish their tyrannies. My notes are listed below: How to recognize potential tyrants and keep them from seizing power. The urge to save humanity is always used to justify those who want to rule humanity. - ML Menken Daniel Webster on the Constitution Obstacles to Tyranny : Limited powers of government .... Due Process .... Presumption of Innocence .... Freedom to Dissent .... Armed Populace: The right to be Armed! Due Process .... 5th Amendment .... Emergency powers. there is no authorization in the US Constitution to suspend Due Process or any aspect of the Bill of Rights .... Asset Seizure Laws for criminal activities (alleged - without warrant or court order) .... Eminent Domain: seizure of private property for government uses: 2005 Kelo vs New London seizure based on jobs (economy) and tax revenue possibilities. .... 6th Amendment - right to trial by jury : plea bargaining admonition based on facing the awesome power of the government to prosecute no matter what - intimidation and threat of personal destruction. .... Forced confessions through plea bargaining. .... Indefinite detention without trial or charges: President has power to kill or issue orders without warrant, charges or trial .... Presumption of Innocence: Probable Cause .... Random stops at Border check points. 5th Amendment protections violated .... Sobriety Check Points: 4th and 5th Amendments violated - no presumption of innocence .... Random detention and questioning: airport security pat downs, housing projects, bus transportation .... The Right to Privacy: financial transactions and the IRS audit (without warrant or accusation) .... Warrant-less Spying .... Agents writing their own search warrants .... Snatch and Peek Freedom to Disse
Gary Edwards

Civil Unrest Ahead - LewRockwell.com - 0 views

  • The Victimized Inner Cities
  • This social disruption has motivated the enthusiastic growth and militarization of our local police departments. The law and order crowd thrives on excessive laws and regulations that no US citizen can escape. The out-of-control war on drugs is the worst part, and it generates the greatest danger in poverty-ridden areas via out-of-control police. It is estimated that these conditions have generated up to 80,000 SWAT raids per year in the United States. Most are in poor neighborhoods and involve black homes and businesses being hit disproportionately. This involves a high percentage of no-knock attacks. As can be expected many totally innocent people are killed in the process. Property damage is routine and compensation is rare. The routine use of civil forfeiture of property has become an abomination, totally out of control, which significantly contributes to the chaos. It should not be a surprise to see resentment building up against the police under these conditions. The violent reaction against local merchants in retaliation for police actions further aggravates the situation —hardly a recipe for a safe neighborhood.
  • Civil liberties are ignored by the police, and the private property of innocent bystanders is disregarded by those resenting police violence.
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  • The entitlement mentality is a source of much anger and misunderstanding. It leads people who see themselves as victims to one conclusion: they are entitled to be taken care of.
  • If one trillion dollars per year doesn’t do the job, then make it $2 trillion. If the war on poverty’s $16 trillion hasn’t worked, make it $32 trillion.
  • The wealthy special interests, such as banks, the military-industrial complex, the medical industry, the drug industry, and many other corporatists, quickly gain control of the system.
  • Honest profits of successful entrepreneurs are quite different than profits of the corporate elite who gain control of the government and, as a consequence, accumulate obscene wealth by “robbing” the middle class.
  • Crumbs may be thrown to the poor, but the principle of wealth transfer is hijacked and used for corporate and foreign welfare instead of wealth transfers to the poor.
  • To blame and destroy those who make an honest living by satisfying consumers without the use of special benefits from the government is destructive to liberty and wealth.
  • True satisfaction comes from productive effort and self-reliance and not from a government transferring wealth in an effort to bring about an egalitarian society.
  • The people have too little confidence that most problems can be solved in a voluntary manner in a society that cherishes civil liberties. There’s never an admission that government problem-solving doesn’t work. Government-created problems are a road to poverty and resentment. Too many people believe that “free stuff” from the government can solve our problems. They mistakenly believe that deficits don’t matter and that wealth can come from a printing press.
  • The high profile episodes of police violence and overreaction are a consequence of conditions that in many ways were generated by government policy.
  • equal justice requires the end of welfare redistribution
  • Redistribution is a process that is always destined to help a small minority, whether in an economy like ours that endorses central economic planning or in one run by radical fascists or communists.
  • Retraining the police won’t touch the complex problems that pit the police against the victims of complex social conditions generated by hate, violence and bad economic policies.
  • Under an authoritarian regime, those in power take care of themselves. This always leads to poverty and discrepancy in wealth distribution.
  • Eventually the social strife that is predictable leads to an overthrow of the government.
  • The strife that we are witnessing is a reflection of a growing number of people who are recognizing the discrepancy between rich and poor, the weak and the powerful, Wall Street and Main Street.
  • Both political parties are financed by Wall Street, the big banks, and the military-industrial complex. Getting rich by being part of the government class is the problem.
  • Indeed the rich are getting richer and the poor poorer. The extreme current inequality is not a consequence of free markets and true liberty. Rather it results from the welfare state that, as always, morphs into a system that provides excesses for the powerful few.
  • The economic interventionist system under which we live today rewards those who benefit from government economic planning by the Federal Reserve, access to government contracts, and targeted special regulations to help one group over the other
  • We must limit the government’s role to protecting equal justice in defense of life, liberty, and property.
  • Police brutality and militarization may well induce a violent event far beyond what we have seen in Ferguson. It also can serve as an excuse. But it is not the root cause of turmoil. The real cause is poverty, the entitlement mentality, and the breakdown of the rule of law. Moral decay and the national police state are the real culprits.
  • There are two problems. First is conceding the principle that government has the moral authority to redistribute wealth. Second is believing the redistribution will be managed wisely and without corruption.
  • We have too many police, too many laws, and too much exemption of government officials from the crimes they commit.
  • There has to be an understanding that productive effort and self-reliance on the part of everyone is required for a free society to thrive.
  • Welfare, for the rich or poor, cannot exist without the sacrifice of the principal of property ownership.
  • The loss of our liberty has sharply accelerated since the 9/11 attacks. We have done to ourselves what no foreign enemy could have possibly accomplished.
  • The national police are made up of over 100,000 bureaucrats and police officials who carry guns to enforce federal law on the American citizens.
  • Today every American is a suspect. Our president has established a policy that an American citizen can be assassinated without even being charged with a crime.
  • The Founders and our Constitution intended that policing powers would be the responsibility of the individual states. That was forgotten a long time ago
  • the Feds are there taking charge over all local officials and property owners,
  • The Founders did not even want a standing army. They wanted only a militia.
  • Old-fashioned colonialism was deemed necessary by various European powers to secure natural resources along with control over sea lanes and markets for selling manufactured goods.
  • European-style colonialism — supporting a mercantilistic economy — came to be seen as politically unrealistic and unnecessary.
  • We are now subject to an out-of-control domestic police force while the US military maintains our Empire overseas.
  • When free-trade principles were utilized, colonialism did not die; it only changed form. Mercantilism in various forms and degrees drove trade policies of nations with strong economies and militaries.
  • The United States military presence around the world provides a “private” police force to protect US and other international companies against any local resistance or leaders that turn unfriendly. Our military presence overseas has nothing to do with protecting our freedoms and defending our Constitution.
  • The international monetary system is a powerful tool for the select few.
  • In fact, the real heroes are the ones who expose the truth and refuse to fight foreign wars for the international corporations.
  • The “one percenters,” generally speaking, are internationalists who are not champions of individual liberty and free trade. They are supporters of managed trade and international institutions like the WTO where the interests of the one percent can influence the rulings that frequently have little to do with advancing advertised goals of low tariffs and free trade.
  • Disengaging our troops from around the world and refusing to defend American neocolonialism is pursuing a course compatible with the qualities that Americans claim to stand for.
  • The obsession with continuing all the same policies has increased our poverty, increased violence between the classes, and lowered the standard of living for all except the elite one percent. And worst of all, the sacrifice of liberty was for naught.
  • Losing both liberty and the right to truly own property undermines the ability to create wealth.
  • Tax revenues will continue to rise, aiding the policy of the government spending the people’s money rather than those who earned it.
  • When this process gets out-of-control the economy goes into a death spiral, in the beginning of which we currently find ourselves. Without a correction to the basic understanding of the proper role of government, the downward spiral will continue.
  • Wall Street will be protected, and the trillions of dollars of big banks derivatives will be absorbed by the Fed, the FDIC, and ultimately by the American taxpayers in the next financial crisis.
  • Authoritarianism has overtaken our economic system as the welfare mentality takes over at every level of government.
  • There’s no doubt the poor will get poorer and the rich richer until the spirit of revolution in the people calls a halt to the systematic destruction of freedom in America.
  • Once the initiation of force by government is accepted by the people, even minimally, it escalates and involves every aspect of society. The only question that remains is just who gets to wield the power to distribute the largess to their friends and chosen beneficiaries.
  • It’s a recipe for steady growth of the government at the expense of liberties, even if official documents and laws written to limit government power are in place.
  • Restraining the few who thrive on the use of force to rule over us is the challenge. Fortunately they are outnumbered by those who would choose liberty yet lack the will to challenge the humanitarian monsters who gain support from naive and apathetic citizens.
  • The sentiments supporting secession, jury nullification, nullification of federal laws by state legislatures, and a drive for more independence from larger governments will continue.
  •  
    "If Americans were honest with themselves they would acknowledge that the Republic is no more. We now live in a police state. If we do not recognize and resist this development, freedom and prosperity for all Americans will continue to deteriorate. All liberties in America today are under siege. It didn't happen overnight. It took many years of neglect for our liberties to be given away so casually for a promise of security from the politicians. The tragic part is that the more security was promised - physical and economic - the less liberty was protected. With cradle-to-grave welfare protecting all citizens from any mistakes and a perpetual global war on terrorism, which a majority of Americans were convinced was absolutely necessary for our survival, our security and prosperity has been sacrificed. It was all based on lies and ignorance. Many came to believe that their best interests were served by giving up a little freedom now and then to gain a better life. The trap was set. At the beginning of a cycle that systematically undermines liberty with delusions of easy prosperity, the change may actually seem to be beneficial to a few. But to me that's like excusing embezzlement as a road to leisure and wealth - eventually payment and punishment always come due. One cannot escape the fact that a society's wealth cannot be sustained or increased without work and productive effort. Yes, some criminal elements can benefit for a while, but reality always sets in. Reality is now setting in for America and for that matter for most of the world. The piper will get his due even if "the children" have to suffer. The deception of promising "success" has lasted for quite a while. It was accomplished by ever-increasing taxes, deficits, borrowing, and printing press money. In the meantime the policing powers of the federal government were systematically and significantly expanded. No one cared much, as there seemed to be enough "gravy" for the rich, th
Joseph Skues

How Trade Deals Boost the Top 1% and Bust the Rest | Robert Reich - 0 views

  • Suppose that by enacting a particular law we'd increase the U.S. Gross Domestic Product. But almost all that growth would go to the richest 1 percent. The rest of us could buy some products cheaper than before. But those gains would be offset by losses of jobs and wages.This is pretty much what "free trade" has brought us over the last two decades.I used to believe in trade agreements. That was before the wages of most Americans stagnated and a relative few at the top captured just about all the economic gains.
  • The biggest things big American corporations sell overseas are ideas, designs, franchises, brands, engineering solutions, instructions, and software.Google, Apple, Uber, Facebook, Walmart, McDonalds, Microsoft, and Pfizer, for example, are making huge profits all over the world.But those profits don't depend on American labor -- apart from a tiny group of managers, designers, and researchers in the U.S.
  • According to Economic Policy Institute, the North American Free Trade Act cost U.S. workers almost 700,000 jobs, thereby pushing down American wages.
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  • Korea-U.S. Free Trade Agreement, America's trade deficit with Korea has grown more than 80 percent, equivalent to a loss of more than 70,000 additional U.S. jobs.
  • The new-style global corporate agreements mainly enhance corporate and financial profits, and push down wages.
  • Trans Pacific Partnership -- the giant deal among countries responsible for 40 percent of the global economy.
  • also guard their overseas profits.
  • even more patent protection oversea
  • And it would allow them to challenge any nation's health, safety and environmental laws that stand in the way of their profits -- including our own.
  • White House strategists seem to think such corporations are accountable to the U.S. government. Wrong. At most, they're answerable to their shareholders, who demand high share prices whatever that requires.
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