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Gary Edwards

RSA Animate - Crises of Capitalism - YouTube - 0 views

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    Excellent white board illustrated discussion on capitalism and the financial crisis.   I have a question though?  How do you discuss capitalism without also discussing borrowing, interest rates and dividends?  Seriously.  No mention of interest rates?  No mention of the relationship between GOLD, commodities and fiat money?   Yes, the Banksters collapsed the world economy with the willing consent of corrupt crony politicians.   The corruption and practice of crony corporatism is NOT Capitalism!  It's fascism.   Nor are the bailouts of the Banksters and big unions capitalism!  In capitalism there is no such thing as a government bailout or two big too fail.  Capitalism would have put the Banksters into the dirt without blinking. There is an interesting transection where the cartoonist suggest that global corporatism demanded capital from creative financiers.  And that caused the the problem.  Seems the Banksters got too too creative. I disagree with this perspective, and am left wondering how the connection between global commerce and creative "casino" financial instruments are natural consequences of each other?  It's a commonly held belief that global explosion was due to the a Reagan - Thatcher conservative revolution where one of the key corporate organizing principles was that of the "franchise" backed by IPO style public stock offerings.  Clowns like Warren Buffett gobbled up tons of Coca Cola and McDonalds stock, waiting for global trade barriers to fall in the wake of Reagan - Thatcher liberty.  When the Soviet Union collapsed, the "walls" truly did come down.  And USA corporations were uniquely positioned and structured to roll out globally. That doesn't have anything to do with the kind of creative casino gambling that brought the world to it's knees.  What do exotic financial derivatives have to do with funding corporations?  Yes, they were used to hedge financial positions as sovereign governments were maddeningly borrowing and s
Gary Edwards

The Divider vs. the Thinker - WSJ.com - 0 views

  • There's a lot to rebel against, to want to throw off. If they want to make a serious economic and political critique, they should make the one Gretchen Morgenson and Joshua Rosner make in "Reckless Endangerment": that real elites in Washington rigged the system for themselves and their friends, became rich and powerful, caused the great catering, and then "slipped quietly from the scene."
  • It is a blow-by-blow recounting of how politicians—Democrats and Republicans—passed the laws that encouraged the banks to make the loans that would never be repaid, and that would result in your lost job.
  • It began in the early 1990s, in the Clinton administration, and continued under the Bush administration, with the help of an entrenched Congress that wanted only two things: to receive campaign contributions and to be re-elected.
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  • Specifically it is the story of Fannie Mae and Freddie Mac, the mortgage insurers, and how their politically connected CEOs, especially Fannie's Franklin Raines and James Johnson, took actions that tanked the American economy and walked away rich.
  • "the temptation to exploit fear and envy returns." Politicians divide in order to "evade responsibility for their failures" and to advance their interests.
  • "The American Idea"
  • Which gets us to Rep. Paul Ryan. Mr. Ryan receives much praise, but I don't think his role in the current moment has been fully recognized. He is doing something unique in national politics. He thinks. He studies. He reads. Then he comes forward to speak, calmly and at some length, about what he believes to be true. He defines a problem and offers solutions, often providing the intellectual and philosophical rationale behind them.
  • But Republicans, in their desire to defend free economic activity, shouldn't be snookered by unthinking fealty to big business. They should never defend—they should actively oppose—the kind of economic activity that has contributed so heavily to the crisis.
  • Here Mr. Ryan slammed "corporate welfare and crony capitalism."
  • "Why have we extended an endless supply of taxpayer credit to Fannie Mae and Freddie Mac, instead of demanding that their government guarantee be wound down and their taxpayer subsidies ended?" Why are tax dollars being wasted on bankrupt, politically connected solar energy firms like Solyndra? "Why is Washington wasting your money on entrenched agribusiness?"
  • The "true sources of inequity in this country," he continued, are "corporate welfare that enriches the powerful, and empty promises that betray the powerless."
  • The real class warfare that threatens us is "a class of bureaucrats and connected crony capitalists trying to rise above the rest of us, call the shots, rig the rules, and preserve their place atop society."
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    Peggy Noonan writes about Paul Ryan's "The American Idea" speech he recently gave at the heritage Foundation.  It's a beautifully written summary that goes right to the heart of the matter:  the ruling elites have been enriching themselves, feeding at the public trough of corporate welfare and crony capitalism.  Washington DC is corrupt and rotten to the core, and the hand maiden of Banksters, Global Corporatist, Big Unions, and Big Bearucracy.   One things for sure.  Congressman Paul Ryan is a brilliant thinker aho believes in the great promise he calls "The American Idea".   Funny how, as the presidential primary race rolls on, my hopeful attention is being drawn towards four men:  Herman Cain, Paul Ryan, Ron Paul and Marco Rubio.   Herman unfortunately is soft on Banksters, totally unaware and oblivious to the need to take back the currency, and end the Federal Reserve Bankster Cartel.  I also have some difficulties with the "revenue neutral" aspects of his 999 plan.  We need less government, not more.  The private sector needs to keep more money, not less.   Too bad because everything else about Herman excites me.  Especially his authentic, from the heart love of America, American exceptionalism and opportunity, and the founders truly unique "American Idea". Ron Paul has an awesome "American Recovery" plan.  Awesome.  But his remarks on terrorism and foreign policy stray far from his usual reliance on the Constitution and the 10th Amendment.   He's right about the connection between global corporatism and the never ending militarism they push.  But he's dead ass wrong about our enemies and their intentions.  And that's scary.  If RP had stuck to the Constitution and 10th Amendment, i would fully support him.   If it's not an enumerated power, it belongs to the States and individual citizens.  End of story.   Marco Rubio is awesome in the same way Herman is.  He connects with a special authenticity that screams the principles and val
Paul Merrell

The U.S. Has REPEATEDLY Defaulted | Washington's Blog - 2 views

  • It’s a Myth that the U.S. Has Never Defaulted On Its Debt Some people argue that countries can’t default.  But that’s false. It is widely stated that the U.S. government has never defaulted.  However, that is also a myth.
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    Excellent article Paul! But it left me in tears. The bastardos are destroying the currency. Quick Count of The U.S. defaulting on its debt obligations: ... Continental Currency in 1779 ... Domestic debt between 1782 through 1790 ... Greenbacks in 1862 ... Liberty Bonds in 1934 ... 1933 Dollar to GOLD devaluation (1/35 th per ounce) ... 1971 Nixon ends GOLD backing of dollar, violating the terms of the Bretton Woods Agreement ... 1979 Treasury defaults, refusing to redeem maturing treasury bonds The only thing keeping the American Economy going is the massive rush to convert the fiat currency the Federal Reserve is churning out into hard assets; like land and corporate stock. In 2008 the Federal Reserve Bankster Cartel pumped $29 Trillion into the world banking system. They continue to pump $85 Billion per month into Bankster financial markets, buying up bad mortgage paper and backstopping the many insured derivatives scams now unwinding. The Banksters were bust in 2008, but are now flush with more dollars than anyone knows what to do with. Instead of "loaning" this money out, and investing in traditional business productivity, they use the freshly minted dollars to purchase hard assets. Business loans would provide profit based on interest - a gambit that requires confidence in the value of the dollar since the dollar is the measure of the economic reward. The purchase of hard assets is different. The "value" is not in the profitability of the investment, as measured in fiat currency. The value is in hard asset and any future economic power that asset holds through the expected currency crash. The only mystery here is that of military might. How do the banksters and global elites protect their assets in the future collapse they have made certain? Oh wait - private security companies capable of waging war. It's no accident that the early geopolitical energy wars of the 21st century saw a massive buildup of private corporate military and i
Gary Edwards

Lipsky: Obama Making Same Mistakes That Led to Great Depression - 0 views

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    Interview with Seth Lipsky, former Wall street Asia - NY Sun editor, and journalist.  Seth explains the constitutional requirements that Congress control and protect a hard currency.  He also explains his support for Ron Paul, the Paul-Perry-Cain "flat tax" proposals, and the Federal Reserve Bankster Cartel.  Hard to believe Seth worked for the Wall Street Journal, otherwise known as the globalist bankster voice.  IMHO, no one has done more to confuse the public with free market - capitalism posturing while promoting outrageous banksterism, crony capitalism and a militaristic global corporatism that threatens the sovereignty of the USA than the WSJ.  Seth however is great. excerpt: The founding fathers named the U.S. currency after a coin called a Spanish-milled dollar, which represented 371.25 grains of pure silver, and put protecting its value in the hands of Congress. "They meant the dollar to be a measure of value and in fact they gave Congress the power to coin money and regulate the value thereof in the same sentence of the Constitution in which they gave Congress the power to fix the standards of weights and measures," Lipsky told Newsmax.TV. _________________________________________________________ Editor's note: To get 'It Shines for All' at a great price - Click Here Now. _________________________________________________________  "What the reform movement that we have been covering in The Sun wants Congress to do is to step up to that Constitutional responsibility to establish a proper value to the dollar, and then we wouldn't have to worry about inflation and rising prices," he said. "We would have to conduct the government's budgetary operations in a way that didn't result in a collapse in the value of our currency," said Lipsky. Under President Obama, the White House has enacted stimulus measures to incentivize job creation while the Federal Reserve has flooded the economy with money and swollen its balance sheet in an effort to spur
Gary Edwards

Offshoring has destroyed the economy :      Information Clearing House: ICH - 0 views

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    Good read!  Many thanks to the mighty marbux for the link.  Be sure to catch the YouTube video series featuring Sir James Goldsmith congressional testimony decrying free trade and corporatism. excerpt: "May 31, 2011 "Information Clearing House" --These are discouraging times, but once in a blue moon a bit of hope appears. I am pleased to report on the bit of hope delivered in March of 2011 by Michael Spence, a Nobel prize-winning economist, assisted by Sandile Hlatshwayo, a researcher at New York University. The two economists have taken a careful empirical look at jobs offshoring and concluded that it has ruined the income and employment prospects for most Americans. To add to the amazement, their research report, "The Evolving Structure of the American Economy and the Employment Challenge," was published by the very establishment Council on Foreign Relations. http://www.cfr.org/industrial-policy/evolving-structure-american-economy-employment-challenge/p24366  For a decade I have warned that US corporations, pressed by Wall Street and large retailers such as Wal-Mart, to move offshore their production for US consumer markets, were simultaneously moving offshore US GDP, US tax base, US consumer income, and irreplaceable career opportunities for American citizens.
Paul Merrell

Tomgram: Engelhardt, Who Rules Washington? | TomDispatch - 0 views

  • As every schoolchild knows, there are three check-and-balance branches of the U.S. government: the executive, Congress, and the judiciary. That’s bedrock Americanism and the most basic high school civics material. Only one problem: it’s just not so. During the Cold War years and far more strikingly in the twenty-first century, the U.S. government has evolved.  It sprouted a fourth branch: the national security state, whose main characteristic may be an unquenchable urge to expand its power and reach.  Admittedly, it still lacks certain formal prerogatives of governmental power.  Nonetheless, at a time when Congress and the presidency are in a check-and-balance ballet of inactivity that would have been unimaginable to Americans of earlier eras, the Fourth Branch is an ever more unchecked and unbalanced power center in Washington.  Curtained off from accountability by a penumbra of secrecy, its leaders increasingly are making nitty-gritty policy decisions and largely doing what they want, a situation illuminated by a recent controversy over the possible release of a Senate report on CIA rendition and torture practices.
  • From the Pentagon to the Department of Homeland Security to the labyrinthine world of intelligence, the rise to power of the national security state has been a spectacle of our time.  Whenever news of its secret operations begins to ooze out, threatening to unnerve the public, the White House and Congress discuss “reforms” which will, at best, modestly impede the expansive powers of that state within a state.  Generally speaking, its powers and prerogatives remain beyond constraint by that third branch of government, the non-secret judiciary.  It is deferred to with remarkable frequency by the executive branch and, with the rarest of exceptions, it has been supported handsomely with much obeisance and few doubts by Congress. And also keep in mind that, of the four branches of government, only two of them -- an activist Supreme Court and the national security state -- seem capable of functioning in a genuine policymaking capacity at the moment.
  • In this century, a full-scale second “Defense Department,” the Department of Homeland Security, was created.  Around it has grown up a mini-version of the military-industrial complex, with the usual set of consultants, K Street lobbyists, political contributions, and power relations: just the sort of edifice that President Eisenhower warned Americans about in his famed farewell address  in 1961.  In the meantime, the original military-industrial complex has only gained strength and influence. Increasingly, post-9/11, under the rubric of “privatization,” though it should more accurately have been called “corporatization,” the Pentagon took a series of crony companies off to war with it.  In the process, it gave “capitalist war” a more literal meaning, thanks to its wholesale financial support of, and the shrugging off of previously military tasks onto, a series of warrior corporations. Meanwhile, the 17 members of the U.S. Intelligence Community -- yes, there are 17 major intelligence outfits in the national security state -- have been growing, some at prodigious rates.  A number of them have undergone their own versions of corporatization, outsourcing many of their operations to private contractors in staggering numbers, so that we now have “capitalist intelligence” as well.  With the fears from 9/11 injected into society and the wind of terrorism at their backs, the Intelligence Community has had a remarkably free hand to develop surveillance systems that are now essentially “watching” everyone -- including, it seems, other branches of the government.
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  • All of this is or should be obvious, but remains surprisingly unacknowledged in our American world. The rise of the Fourth Branch began at a moment of mobilization for a global conflict, World War II.  It gained heft and staying power in the Cold War of the second half of the twentieth century, when that other superpower, the Soviet Union, provided the excuse for expansion of every sort.  Its officials bided their time in the years after the fall of the Soviet Union, when “terrorism” had yet to claim the landscape and enemies were in short supply.  In the post-9/11 era, in a phony “wartime” atmosphere, fed by trillions of taxpayer dollars, and under the banner of American “safety,” it has grown to unparalleled size and power.  So much so that it sparked a building boom in and around the national capital (as well as elsewhere in the country).  In their 2010 Washington Post series “Top Secret America,” Dana Priest and William Arkin offered this thumbnail summary of the extent of that boom for the U.S. Intelligence Community: “In Washington and the surrounding area,” they wrote, “33 building complexes for top-secret intelligence work are under construction or have been built since September 2001. Together they occupy the equivalent of almost three Pentagons or 22 U.S. Capitol buildings -- about 17 million square feet of space.”  And in 2014, the expansion is ongoing.
  • In that light, let’s turn to a set of intertwined events in Washington that have largely been dealt with in the media as your typical tempest in a teapot, a catfight among the vested and powerful.  I’m talking about the various charges and countercharges, anger, outrage, and irritation, as well as news of acts of seeming illegality now swirling around a 6,300-page CIA “torture report” produced but not yet made public by the Senate Intelligence Committee.  This ongoing controversy reveals a great deal about the nature of the checks and balances on the Fourth Branch of government in 2014.
  • Fourteen years into the twenty-first century, we’re so used to this sort of thing that we seldom think about what it means to let the CIA -- accused of a variety of crimes -- be the agency to decide what exactly can be known by the public, in conjunction with a deferential White House.  The Agency’s present director, it should be noted, has been a close confidant and friend of the president and was for years his key counterterrorism advisor.  To get a sense of what all this really means, you need perhaps to imagine that, in 2004, the 9/11 Commission was forced to turn its report over to Osama bin Laden for vetting and redaction before releasing it to the public.  Extreme as that may sound, the CIA is no less a self-interested party. And this interminable process has yet to end, although the White House is supposed to release something, possibly heavily redacted, as early as this coming week or perhaps in the dog days of August.
  • The fact is that, for the Fourth Branch, this remains the age of impunity.  Hidden in a veil of secrecy, bolstered by secret law and secret courts, surrounded by its chosen corporations and politicians, its power to define policy and act as it sees fit in the name of American safety is visibly on the rise.  No matter what setbacks it experiences along the way, its urge to expand and control seems, at the moment, beyond staunching.  In the context of the Senate’s torture report, the question at hand remains: Who rules Washington?
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    The indefatigable and perceptive Tom Englehardt finds formally secret features of the Dark State revealed in the ongoing political jockeying involving the CIA's torture, black prisons, and extarordinary rendition program. 
Paul Merrell

The Two Contending Visions of World Government: The Origin and Broader Context of Obama... - 0 views

  • U.S. President Barack Obama’s proposed ‘Trade’ deals are actually about whether the world is heading toward a dictatorial world government — a dictatorship by the hundred or so global super-rich who hold the controlling blocks of stock in the world’s largest international corporations — or else toward a democratic world government, which will be a global federation of free and independent states, much like the United States was at its founding, but global in extent. These are two opposite visions of world government; and Obama is clearly on the side of fascism, an international mega-corporate dictatorship, as will be documented here in the links, and explained in the discussion.
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    Eric Zuesse takes a deeper look at what's really at stake in Obama's fast-track authority legislation. A must-read.
Paul Merrell

Over 40 Rodent Feeding Studies Show Genetically Modified Food is Disastrous to Health |... - 0 views

  • GMO Free USA has published a listing of more than 40 rodent studies showing that animals fed GM corn and soy suffer dire results. For those who say there is no ‘science’ to prove that GMOs are unsafe, I enjoin them to peruse the following list. [1]
Paul Merrell

Takeover of Irish Water a Bad Omen for International Water Rights | The Fifth Column - 0 views

  • Amid worldwide downpours of IMF driven austerity policies, the people of Ireland have been flooding the streets to protest the privatization of the country’s water utility.  Irish Water (IW), created in 2013, has begun implementing strict metering and high rates for the vital resource.  Many in Ireland are refusing to pay the rates or fines to rid the country of IW.  Failure to do so portends a frightening precedent for the people of the world.
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    There is a global rush to privatize water resources. This article does a good job of providing highlights and explaining how the water privatization rush plays into plans for a borderless world future, aka world government of, by, and for corporations.  I recognize that my view of corporations has changed over the years and that I'm destined to arrive at a position that all fictional legal entities (imaginary people) should be abolished other than government bodies. It's very quickly coming down to a choice whether to be ruled by the profit motive of the ultra-rich or by government bodies that draw their legitmacy from the consent of the governed.  The U.S. vanguard of a closely related effort is Move to Amend, a quicly growing coalition aimed at amending the U.S. Constitution to abolish constitutional rights of corporations and other imaginary people and to *require* federal, state, and local governments to regulate campaign contributions and spending "to ensure that all citizens, regardless of their economic status, have access to the political process, and that no person gains, as a result of their money, substantially more access or ability to influence in any way the election of any candidate for public office or any ballot measure." https://movetoamend.org/wethepeopleamendment
Paul Merrell

How Government and the Media Equate Political Dissent with "Conspiracy Theories" and "H... - 0 views

  • In this age of propaganda and disinformation when mainstream media outlets act as presstitutes for the corporatized federal government, there has been an overt movement in recent years to label dissenters, patriots, government critics and even returning US soldiers from the warfronts as potential homegrown terrorists. For decades the government and co-opted mainstream media’s onetime favorite tactic heavy-handedly used to customarily dismiss their critics was to simply label those exposing government deception as “conspiracy theorists.” However, with distrust mounting amongst Americans toward both their leaders (86% distrust government) and the media (over 60% little or no trust toward media), this strategy is no longer working because so many conspiracies have been proven to be real. With a fascist state worried that its authority is fast slipping away amongst its populace, today the stakes have never been higher. Slander, character assassination and guilt by association are increasingly utilized nowadays as favorite tools to systematically destroy, discredit and demonize those citizens courageous enough to speak the truth exposing government lies, deception, theft and destruction.
  • Raising the stakes from the relative benign label “conspiracy theorist” to “homegrown terrorist” reflects a parallel process the US government has historically employed in manufacturing convenient enemies as needed – Russia and China’s expanding Communism from the 1950’s cold war through the 1980’s, to al Qaeda’s expanding terrorism in the twenty-first century and now back to Russia and China’s expanding imperialism all over again. The vicious cycle locked by design in a forever do-loop as the same subversive strategy remains unchanged throughout the years, only the names and dates change as the government self-servingly sees fit. As long as there are enemy targets to conveniently blame designed to induce fear and elicit support from a dumbed down, brainwashed and powerless American public, war and the military security complex will continue to flourish on a perpetual permanency basis, of course at the expense of humanity both domestically and globally.
Paul Merrell

US Terminates Contracts with Private Prison Industry, Stocks Slump - nsnbc internationa... - 0 views

  • The United States’ Department of Justice, on Thursday, announced that it will cut back and ultimately terminate contracts with private prison companies. The announcement caused stock prices  of corporations involved in America’s prison-industrial complex to slump.
  • Deputy Attorney General Sally Yates noted that private prisons don’t provide the same level of correctional services, programs and resources and don’t save substantially on costs. Yates posted a blog, citing that the dwindling federal prison population as one of the drivers of the shift in policy. She added that the population in bureau or private facilities had gone down from about 220,000 in 2013 to 195,000 inmates. The DoD’s announcement about the beginning of the end of the U.S. prison-industrial complex had an immediate impact on the industry leaders’ stocks. At 2:05 p.m. in New York City, Corrections Corporation slumped 37 percent to $17.06 after it earlier plummeted 52 percent. The real estate investment trust’s biggest intraday loss in nearly 16 years. The GEO Group slumped 38 percent to $20.14, after earlier falling 50 percent, its largest drop since the stock began trading in 1994. Corrections Corp.’s report noted 24 government contracts were set to expire in December of this year, as were 10 more that were not eligible for renewal. The contracts were worth $594 million in revenue for the single corporation — 33% of the company’s total revenue. GEO Group currently receives 45% of its total revenue from government agencies.
  • A substantial rise in incarceration rates, and a boom for the prison-industrial complex came as a result of the failed war on drugs. The prison population grew with a whopping 800 percent between 1980 and 2003. It is noteworthy that privately run prisons have not only shown to be substandard, they have also gained notoriety for abuse of prisoners and rights violations. However, Yates noted that prison populations often grew at a far faster rate than the Bureau of Prisons could accommodate in their own facilities. She claimed that the bureau began contracting with privately operated correctional institutions to confine some federal inmates.  By 2013, as both the federal prison population and the proportion of federal prisoners in private facilities reached their peak, the bureau was housing approximately 15 percent of its population, or nearly 30,000 inmates, in privately operated prisons.
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  • Yates added that the memo (published here), reflects important steps that the bureau has already taken to reduce its reliance on private prisons, including a decision three weeks ago, to end private prison contracts for approximately 1,200 beds. Taken together, these steps will reduce the private prison population by more than half from its peak in 2013 and puts the Department of Justice on a path to ensure that all federal inmates are ultimately housed at bureau facilities, she added. Even if this reduction manifests, the USA would still be one of the countries with the highest incarceration rates, globally.
Paul Merrell

WikiLeaks - Secret Trans-Pacific Partnership Agreement (TPP) - Investment Chapter - 0 views

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    The previously leaked chapter on copyrights makes clear that the TPP would be a disaster for a knowledge society. This chapter makes clear that only corprorations may compel arbitration; there is no corresponding right for human beings to do so. The disregard for national judicial systems is also noteworthy.
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