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The Daily Bell - Richard Ebeling on Libertarianism, Anarchism and the Truth of Austrian... - 0 views

www.thedailybell.com/...he-Truth-of-Austrian-Economics Richard-Ebeling Libertarian banksters
shared by Gary Edwards on 09 Jul 12 - No Cached
  • These are at least two conceivable methods of compelling the government to stop, or limit, its abuse of the monetary printing press.
    • Gary Edwards
      Gary Edwards on 09 Jul 12
       
      Ebeling proposes two methods of reining in out of control government printing of paper money.  There is a third method; one used by Lincoln and Kennedy.  This is the issuance of gold/silver/oil backed reserve notes.  The notes represent gold or silver being held on deposit, and are fully redeemable.   The value of the gold/silver or another commodity represented floats in the marketplace against goods and services.  Nor is there a fixed exchange rate for converting fiat (paper) dollars.  The market will figure those things out if left free to do so.  And that's one big big "if".
  • So the normal market pressures of downward price and wage adjustments in the recession are partly counter-acted by a new monetary expansion that is delaying the necessary re-coordination of market activities. Thus, given these two pressures, prices do not fall as much as a post-recession adjustment may require and they do not rise as much or as fast as might otherwise occur due to the renewed monetary expansion.
  • At the same time, as you correctly ask, the Federal Reserve has been paying banks a relatively low rate of interest to keep large excessive reserves in their accounts at the Federal Reserve, rather than to fully lend those excessive reserves to private borrowers. And given the low market rates of interest that Federal Reserve policy has generated, even the low rate of interest on unlent excess reserves offered to banks by the Federal Reserve appears the relatively more profitable way to use their available funds.
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  • Why has the Federal Reserve done this? They infused these two trillion dollars into the financial markets back in 2008-2010 because they feared that an economy-wide bank collapse was possible. They are afraid to reverse this monetary expansion because to do so would reduce potential bank-lending capacity and put upward pressure on interest rates at a time when the Federal Reserve wants to prevent the sluggish recovery from slowing down even more and also raise the cost of the US government's financing of its trillion dollar a year deficits. So, instead, they leave this excess bank lending power sloshing around in the system, while keeping it off the market and from causing significant new price inflationary pressures, by paying banks not to lend those vast sums.
  • Austrians argue that economics is fundamentally a science and study of "human action." It attempts to trace out the logic and implications of man's intentional conduct in selecting among ends desired and applying perceived means to try to attain them. Austrians emphasize that all human action and the social and market interactions among men occur in a setting of imperfect knowledge, inescapable degrees of uncertainty and always through the passage of time.
  • They try to explain the market processes by which men discover mutual gains from trade.
  • They emphasize that the networks of social institutions in which and through which men discover ways to coordinate their interdependent actions in complex systems of division of labor are not the creations of government edict or command; but are most often among those unintended consequences of multitudes of self-interested individual actions and interactions.
  • They have developed theories of market competition and the role of the entrepreneur as the individuals always alert to market opportunities, and whose actions tend to bring about coordination between market supplies and demands.
  • The Austrian analysis of markets, competition and prices, led them to devastating critiques of the unworkability of all forms of socialist central planning, the inherent contradictions and inconsistencies in virtually all forms of government intervention and regulation, and a theory of money and the business cycle that points the finger of responsibility for inflations and recessions at the doorstep of government monetary and fiscal policies.
  • The philosophy of liberty proclaims that each individual is unique and possessing inherent rights to his life, liberty and honestly acquired property.
  • It is not surprising that classical liberal and libertarian ideas are often attacked. After all they are the ideas that consistently oppose the current political systems of plunder, privilege and power lusting.
  • That government, if it is to exist, is to serve as the protector and guardian of our distinct individual rights, and not the master of men who are obligated to sacrifice themselves for some asserted "national interest," "general welfare," or "common good."
  • The only reasonable meaning to the "common good" or the "general welfare" is when each individual is free to peacefully live his life as he chooses and is at liberty to voluntarily associate and interact with his fellow men for mutually beneficial improvements to their lives.
  • It is virtually inevitable that those who use political power for their own gain at their neighbor's expense will vehemently resist and oppose any attempt to stop them from feeding at the government trough.
  • there is everywhere a class of plundering peoples – politicians, bureaucrats, special interest groups – receiving tax-based income redistributions and subsidies and benefiting from anti-competitive regulations and protections against and at the expense of their fellow human beings.
  • This is the great battle of the twenty-first century;
  • Austrian Economics, not surprisingly, has been attacked precisely because of its insightful and cogent analysis of how it was government intervention and central bank monetary manipulation that generated the unsustainable boom in the last decade that set the stage for the inescapable bust, which the world is still suffering from.
  • There are "natural rights" libertarians
  • "utilitarian" or "consequentialist" libertarians.
  • most convincing case for human liberty
  • Because libertarians have not agreed about this among themselves, nor have they been able to persuade enough others in society to move the world further away from the collectivist premises and the interventionist-welfare state policies that guide so much that goes on in the world.
  • I happen to have been most strongly influenced by the "natural rights" defense of liberty, and especially as formulated by Ayn Rand in her philosophy of Objectivism.
  • First, it is argued that if one believes that the use of any and all forms of coercion are morally unacceptable in human relationships, then this should also imply that any compulsory taxation, even when for the funding of defense and legal justice, is unjustifiable. And, second, it is argued that the private sector could provide such admittedly essential services far more efficiently and cost-effectively than the monopoly agency of government. Murray Rothbard and David Friedman probably have been among the most well-known and articulate proponents of the anarcho-capitalist position over the last 50 years.
  • Others like the Ayn Rand, Robert Nozick and Ludwig von Mises have made the case for constitutionally limited government. Their counter arguments have centered on the ideas that conflicts over jurisdiction, disputes among private defense agencies contracted by different individuals who have disagreements, and the likelihood that "defense" would turn out to be a "natural monopoly" anyway – that is, a tendency for one agency to end up being the single provider of defense and judicial services over a wide geographical area – raise questions about the long-run workability and sustainability of competing defense companies in society.
  • From a moral perspective, I am in sympathy with the anarcho-capitalist position, in that I find the compulsory taking of people's income and wealth without their consent for whatever reason to be ethically repugnant.
  • We should focus on what we all agree upon:
  • This means that the Supreme Court has said that you are the slave of "society" and the government that represents "the people," since, in principle, anything that you do or not do can be argued to have some affect, positive or negative, on others.
  • Think about this Court decision. It is saying that if you do not buy health insurance the government will tax you to pay for it. If you refuse to pay the tax, the government will end up attempting to seize financial assets or real property you own in lieu of failure to pay. If you try to prevent this taking of your property, you are subject to arrest and imprisonment. If you resist arrest or imprisonment, the police have the authority to force you to comply – up to and including lethal force to subdue you into obedience.
  • the freedom and dignity of the individual human being; and the attempt whenever and wherever on our part to reduce, repeal and abolish all forms of regulation, control, restriction, prohibition on the peaceful and honest affairs of our fellow men.
  • Once you accept this premise, there is no end to the minutest detail and content of your life and actions the government cannot claim jurisdiction over to regulate, control or prohibit.
  • Here is that end-of-the-road of the notion of unlimited democratic rule by "the people" and those who claim to speak for "the people" and rule on their behalf.
  • Ayn Rand, of course, rejected any connection or compatibility with libertarianism. She argued this on two grounds. First, she felt that too frequently libertarians spoke of individual freedom, free markets and limited government, but failed to explicitly and clearly ground their political-economic ideas in a demonstrable philosophy of man, nature and society.
  • Government control of money is the potentially most dangerous and damaging form of government power short of outright socialism.
  • Rand's political philosophy arises out of the "natural rights" tradition, that rights are inherent in the nature of man and precede government.
  • Mises believed that rights were, in a sense, "social conventions" that had evolved out of the discovery that certain social institutional arrangements were more conducive to the mutual betterment of all members of society for achieving their individual goals and values
  • What they did agree upon was that, given their respective conceptions of the basis of individual rights, there was no social and economic system more consistent with the protection of those rights and more likely to generate the material and cultural achievements that are potentially possible than laissez-faire capitalism.
  • And in the twentieth century, Rand and Mises were two of the most principled and uncompromising advocates for the completely free market society
  • Second, she rejected the anarchist elements in the libertarian movement, believing that any reasonable analysis of the reality of man and the human condition strongly suggested the inescapable need for a single legal standard for defining and enforcing individual rights and a single authority to as impartially and "objectively" as possible enforce laws defending each individual's rights to his life, liberty and honestly acquired property.
  • "Hardly ever do the advocates of free capitalism realize how utterly their ideal was frustrated at the moment the state assumed control of the monetary system . . .
  • A 'free' capitalism with government responsibility for money and credit has lost its innocence.
  • From that point on it is no longer a matter of principle but one of expediency how far one wishes or permits government interference to go.
  • Money control is the supreme and most comprehensive of all governmental controls short of expropriation."
  • Government basically has three ways to acquire the income and wealth of its citizens: taxation, borrowing and printing money
  • So, governments throughout history have turned to the monetary printing press to fund the expenditures not covered by taxes or borrowed money
  • This "non-neutral," or uneven, impact on prices and wages in the economy during the inflationary process brings in its wake distorted profit margins, misallocations of resources and labor and various mal-investments of capital. Here are the seeds for the artificial and unsustainable "booms" that invariably come crashing down in the "bust" once the monetary expansion that has set it all in motion is stopped or slowed down.
  • I believe that the choice and use of money should be left to the market, that is, to the free and voluntary interactive decisions of those buying and selling in the market.
  • I consider a private, competitive free banking system to be the only one consistent with a truly free market society.
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How can Obama say the economy is getting better? | Western Free Press - 0 views

www.westernfreepress.com/...-the-economy-is-getting-better Banksters Economy Great-Recession Obammunism
shared by Gary Edwards on 20 Feb 12 - No Cached
  • Gary Edwards on 20 Feb 12
     
    Devastating charts comparing the percentage of Americans in the work force from January 2000 through February 2012.  The most interesting numbers show that the recession began in December of 2007, and ended in June of 2009 - yet it is after that June 2009 date that the % of Americans in the workforce begins to drop like a rock!  This is after the Obmaulous stimulous $1.2 Trillion, the Federal Reserve Bankster Cartels secret $16.1 Trillion, and, the magnificent cash-for-clunkers crap. Meanwhile, back in la la land, Obama thinks the problem is that we all need free contraceptives, free abortions and free sex-change coverage in our health insurance.  The Obama Spend-Borrow-Bail train has left the station.  Next stop?  War with Iran.  More powerful a phony narrative than contraceptives, abortions, and fear of a conservative repubican praying in the White House.  Besides, those bastards are refusing to use the dollar as the settlement currency for their oil sales!  Time to put them in the dirt along with that rogues gallery of tyrants who also defied the Federal Reserve International Bankster Cartel, demanding settlement currencies measured in GOLD instead of paper dollars; gallery includes notables such as Saddam Hussein, Muammar Gaddafi, and the Shah of Iran. Nothing like the Marines and the Seventh Fleet being unleashed to turn around the dismal poll numbers stubbornly connected to the even more dismal disaster known throughout the hinterland of bitter clingers as the economic truth. excerpt: Is President Obama relying on the Bureau of Labor statistics to manipulate the unemployment numbers to make them look better than they are? The real rate is probably more like 11.5%, and we have seen analyses that indicate that unemployment hasn't actually fallen at all under Obama: So what is going on here? The big problem is that people are giving up. Obama and the Democrats' job-killing regulations and climate of uncertainty are stifling innovation and inv
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Articles of Impeachment Against Obama - 0 views

blackrepublican.blogspot.com/...an-citizens-file-articles.html Impeachment articles-of-impeachment
shared by Gary Edwards on 16 Aug 13 - No Cached
  • Gary Edwards on 16 Aug 13
     
    Sarasota, FL ( August 12, 2013) - The National Black Republican Association (NBRA) based in Sarasota, FL, headed by Chairman Frances Rice, filed Articles of Impeachment against President Barack Obama with the following language.   We, black American citizens, in order to free ourselves and our fellow citizens from governmental tyranny, do herewith submit these Articles of Impeachment to Congress for the removal of President Barack H. Obama, aka, Barry Soetoro, from office for his attack on liberty and commission of egregious acts of despotism that constitute high crimes and misdemeanors.   On July 4, 1776, the founders of our nation declared their independence from governmental tyranny and reaffirmed their faith in independence with the ratification of the Bill of Rights in 1791.   Asserting their right to break free from the tyranny of a nation that denied them the civil liberties that are our birthright, the founders declared:   "When a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."  -  Declaration of Independence, July 4, 1776.   THE IMPEACHMENT POWER   Article II, Section IV of the United States Constitution provides: "The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors."   THE ARTICLES OF IMPEACHMENT   In his conduct of the office of President of the United States, Barack H. Obama, aka Barry Soetoro, personally and through his subordinates and agents, in violation or disregard of the constitutional rights of citizens and in violation of his constitutional duty to take care that the laws be faithfully executed, has prevented, obstructed, and impeded the administration of justice, in that:   ARTICL
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The Sides Are Forming For The Coming Civil War. | Militia News - 1 views

www.militianews.com/rming-for-the-coming-civil-war Obammunism financial-collapse financial-oligarchs banksters
shared by Gary Edwards on 29 Nov 13 - No Cached
  • America is in the choosing sides phase of the coming civil war. To use a college recruiting phrase, it is accurate to state that the letters of intent to join one side or another have mostly been signed and the commitments offered. However, there is one big uncommitted piece, but very soon the sides will be drawn.
  • The Chess Pieces of Civil War What is going on today in America all about choosing sides. There are clear lines being formed in the United States. The recruiting pool consists of the Department of Homeland Security, the American military, local law enforcement, the Russian troops pouring into the United States, the trickle of Chinese troops coming into the country through Hawaii and, of course, the poor, the middle class and elite. This is the recruiting pool which will form the chess pieces of the coming American Civil War. Even if all parties in this country wanted the country to continue, even in its present mortally wounded state, it would be foolish to believe that it could continue for much longer.
  • Before the cognitive dissonance crowd rears their ugly heads and accuses me of fear mongering, ask yourself what the elite did prior to the crash of the economy in 1929. For example, Joseph Kennedy took his money out of the stock market the day BEFORE it crashed. Vanderbilt, Rockefeller, Westinghouse, et al., all took their money out just prior to the crash, leaving the ignorant masses unaware of what was coming. Don’t make the same mistake.
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  • The net result of these staggering numbers can only end one way, and that is with a financial collapse, followed by a bank holiday, rioting in the streets and the full roll out of martial law. These financial numbers guarantee that the party cannot continue much longer. Since America, in her present form, cannot continue much longer without experiencing a cataclysmic shift, we would be wise to realize what resources are going to be the impetus for civil war. When you play the board game, Monopoly, the properties on Boardwalk are among the most coveted. It is no different in real life. The biggest prize of the coming conflict is real estate. Homes, office buildings and shopping malls are the most coveted prize. The MERS mortgage fraud continues unabated as millions of homes have been confiscated through mortgage fraud. When the dollar is worthless and is awaiting its replacement (e.g. the Amero or the Worldo), real estate will be more valuable than gold.
  • Other big game that is being hunted by both sides in the coming civil war will be bank accounts, which must be looted before the dormant computer digits we call money can be converted into hard assets. That is why my advice is, and has been, convert your cash into tangible assets which can enhance your survivability in the upcoming crash.
  • Also, your pensions, your 401K’s and your various entitlement programs are also at risk as evidenced by Secretary of Treasury Jack Lew’s “borrowing” from various Federal retirement accounts in order to increase the debt ceiling fight that will resurface in Congress, again, early next year.
  • Again, my advice is to convert your assets in tangible items which will aid in getting you through some very dark days coming up in the near future.
  • Barring a false flag event, US martial law will have a trigger event, which will lead to martial law, that will be financial and it will naturally occur as we are already on a collision course with destiny.
  • I have news for you, there are Federal officials in every town, city and county in America. If one violates HR 347, they will be immediately arrested and charged with a felony.
  • The NDAA constitutes another big fence being built around the people in which all due process will soon be gone. The NDAA will allow the administration the “legal” right to secretly remove any burgeoning leadership of citizen opposition forces.
  • The second provision which will allow this country to quickly transition to martial law is Executive Order (EO) 13603 which allows the President to take control over any resource, property and even human labor within the United States. This EO gives the President unlimited authority including the ability to initiate a civilian draft as well as a military draft.
  • In short, this spells the potential enslavement of the American people.
  • For those of you who still have your blinders on, research the NDAA and EO 13603 and then when you realize that I am correct in my interpretation, ask yourself one question; If the powers that be were not going to seize every important asset, then why would the government give itself the power to do just that?
  • And while you are at it, remember the Clean Water Act gives the EPA to control all private property as well as the precious resources of all water. And then of course, the FDA and the conflicts with local farmers is escalating.
  • And if this is not enough to convince the sheep of this country that the storm clouds are overhead, then take a look at HR 347 which outlaws protesting and takes away the First Amendment. This unconstitutional legislation makes it illegal to criticize the President and the government, as a whole, in the presence of Federal officials.
  • There are three paramount numbers that every American should be paying attention to and they are (1) national deficit ($17 trillion dollars), (2) the unfunded liabilities debt ($238 trillion dollars), and (3) the derivatives/futures debt (one quadrillion dollars which is 16 times the entire wealth of the planet.
  • I just saw the Hunger Games sequel, Catching Fire, and this is eerily similar to what I saw in the movies in that the people are being provoked to revolution.
  • in the TV show, Revolution, the most evil entity in the series is the re-emergence of the United States government and the heroes of the show are rebelling against the abuse.
  • It seems like everywhere we turn in the media, the people are being encouraged to rise up now and challenge authority. I am sure the establishment would rather confront a small group of dissidents and squelch the rebellion now, before the numbers can become significant and overwhelming to the establishment and this theme is being carried out in the media.
  • The final action will consist of gun confiscation and one side of the coming conflict is attempting to position themselves to do that in the near future and that would be the DHS, the Russians and the Chinese.
  • I cannot think of another legitimate reason which would describe why they are here.
  • Paul Merrell on 30 Nov 13
     
    While I'd be the first to agree that the degree of fiscal mismanagement of this nation's economy is beyond insane and have to admit that I see very little to admire in Barack Obama's presidency, the meme about Executive Order 13603 authorizing confiscation of any property and enslavement of the American public needs to be put to rest. See http://www.archives.gov/federal-register/executive-orders/2012.html#13603 E.O. 13603 is not much more than an updating of similar executive orders issued by prior presidents beginning with Dwight Eisenhower. In fact, in skimming it a few minutes ago, I didn't see anything drastically different from some of the prior related orders. E.g., it reflects that a bunch of agencies that were formerly either independent or under other departments are now under the newish Department of Homeland Security, whose Secretary now gets the authority formerly delegated to other department and agency heads. If blame must be cast, it belongs on the Congress that enacted the Defense Production Act of 1950, 50 U.S.C. 2061, et seq. The executive order does no more than obey that Act's instructions. For example there is a section authorizing pre-emption of manufacturing capacity of critical industries over any existing civilian contracts in the event of a national emergency, but that language is in the statute as well. But that power hasn't had much traction since Harry Truman tried to nationalize the steel industry to break a nationwide strike. The Supreme Court swatted down that effort as an abuse of a power that would be lawful in a true emergency, like another major. But even that semi-radical "survival" power is ameliorated by other provisions of the statute and the order that authorize loan guarantees for companies' construction and maintenance of critical productive capacity. Much of that has been implemented over the years as outright grants. So for example, many chemical manufacturing plants were built with Defense Production Act funds, with
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Revealed: Obama's Immense Shadow Army & Its Shocking Takeover Plan - 1 views

www.libertynews.com/...rmy-its-shocking-takeover-plan
shared by Gary Edwards on 26 Oct 13 - No Cached
  • Gary Edwards on 26 Oct 13
     
    Is the ObamaCare train wreck a wreck by design? Another notch in the Bankster belt marking another step in the bankrupting of America? Revealed: Obama's Immense Shadow Army & Its Shocking Takeover Plan October 26, 2013  //  By: Eric Odom  //   The ObamaCare train wreck - it's awful, possibly purposeful, certainly useful for team Obama and its growing army of community activists and organizers. In a previous report, we explored the question, "What if the ObamaCare debacle is really a diversion, using a military term a "feint" - a tactical distraction to draw our attention, our focus and our fire away from the real point of attack on liberty?" Remember that horrible train wreck in Spain not long ago, captured on video? As tragic as it was, watching the crash and its gruesome aftermath was almost irresistible, wasn't it? Well, what if the disastrous rollout of the President's signature legislative achievement - what if this spectacular slow motion ObamaCare train wreck has been and is being allowed to happen so that what's going on around the bend from the fiery crash site gets little attention, from the public, from the media or from Congressional investigators? Think about it, friends. How could Barack Obama and his celebrated team of incredibly proficient, plugged in techies - the team that twice got him elected - be behind the utterly disastrous launch of the ObamaCare online storefront, healthcare.gov - arguably the biggest website failure in history? How could so much money have been spent to produce such a problem-plagued site that apparently was doomed in its developmental confusion? And how to fix this monumental mess, well, there doesn't seem to be any clear plan…other than hope. And now we learn that many, if not most, of the people actually signing up for ObamaCare through the website are enrolling in Medicaid, not signing up for private insurance policies they pay for, but adding their names onto government roll
  • Gary Edwards on 26 Oct 13
     
    There is no doubt in my mind that corporations (and their Chamber of Commerce boot licking lackys) believe that employer provided healthcare benefits was a HUGE MISTAKE. The key feature of ObamaCare is that of ENDING the HMO-Employee Healthcare profit draining quagmire these corporations somehow stumbled into. (Hint: they traded healthcare benefits for wide open government assisted Globalization - the new world order Merchantilism). IMHO, the insurance companies know full well that the entire HMO-Employee Healthcare bandwagon is going to end. Not because of socialism; because of profit hungry out of control mercantilism. So they are trying to cut the best deal possible with the government. The merchantilist doesn't care that their employees are going to suffer. They only care that this cost and the blame for losing the benefit is moved from their books to the government. Nor does the merchantilist care about protecting our borders. They want cheap labor. Even if the social cost of that cheap labor lands on the government and destroys the nation. That's why the merchantilist and his Bankster financiers support Open Borders. The merchantilist could care less about the trade deficit and the massive transfer of American manufacturing jobs overseas. As long as they can sell their junk back into the USA market without a 33% import tax these bastardos are happy to destroy their country. I wonder whose army and navy will secure their investments when the USA no longer can? Are their private armies enough? Just wondering.
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The Daily Bell - Catherine Austin Fitts on Moral Investing and the Coming Equity 'Crash... - 1 views

www.thedailybell.com/...and-the-Coming-Equity-Crash-Up Banksters Federal-Reserve-Bankster-Cartel Catherine-Austin-Fitts
shared by Gary Edwards on 16 Oct 13 - No Cached
  • If you talk about legacy systems and then a breakaway civilization, the legacy systems were financed with debt and if the resources have basically been shifted out and over into "NewCo" then that's going to be an equity model. We're literally coming into what I consider to be a planetary debt for equity swap. So the question for all of us is how do we navigate the turn? When do you leave the bond market and when does the equity increase occur? We've seen North America equity markets rising and the emerging markets falling this year.
  • We're seeing a tremendous divergence in the economy in North America between those portions of the economy that are adapting new technology and growing and the rest of the economy.
  • The other thing I watch is what the divergence means to bond credits and to equity valuations. If you look at the indices you don't really see it. If you look inside the indices you see some enormous splits in quality and value going on.
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  • The slow burn is a world in which for most people income is flat or falling and expenses are steadily rising. It's a debasement scenario. And the reality is the central banks have been able to have a quite liberal monetary policy because we've been able to offset that with labor deflation. So by globalizing labor and instituting technology you have tremendous deflationary pressures, which offset very generous monetary policy.
  • Starting in the '90s a decision was made to move significant amounts of capital out of existing systems in  the developed world and literally trillions of dollars of financial fraud was engineered to do that. As a financial phenomenon it was quite clever and trillions have literally been moved out between the fraud and the bailouts. I think what the Fed has been doing with quantitative easing is running a shredding operation where they buy up the fraudulent mortgage securities paper and are shredding it.
  • If you look at the Treasury, they've run a very tight regulatory process where that money doesn't seep out on Main Street. It's quite phenomenal the way they've managed to control it. I think one of the big questions is where is that money going to go now? It certainly looks to me like a great effort is being made to make sure it goes into equities, sort of keeps the bond market afloat and goes into equities. So I look it as a very political move.
  • You can balance the budget with fiscal measures or you can balance the budget by the Fed just buying bonds and if you look at the Fed's balance sheet, I think they have a much greater capacity to buy bonds. If you look at all the money that was stolen, the breakaway civilization has plenty of money to buy bonds.
  • I would say so far the Fed's policies have worked for what they're intended to do. We've moved a tremendous amount of money out of the economy. We've now basically run through the statute of limitations or done whatever management needed to cut the cords so that what I call the legacy systems can't get the money back. So the financial coup d'état has been successful and now the cover-up is pretty much over and successful.
  • So now you have big decisions. You have two economies. Before this started what I call the legacy systems had $100 trillion of liabilities and $100 trillion of assets – now, I'm just pulling those numbers out of the air – and
  • the coup moved $40 trillion of assets over into NewCo
  • if you will. Now we've got the legacy systems trying to reconcile $60 trillion of assets to $100 trillion of liabilities and there is a long, drawn-out, grinding process by which some people will get 50 cents on the dollar, some people will get zero cents on the dollar, some people will get 100 cents on the dollar. It's just a very difficult, complex and tangled political scene as to how that's going to all happen. Meantime, NewCo, with $40 trillion dollars, is investing and going gangbusters. NewCo is enjoying an unprecedented boom, investing in lots of new technology and new frontiers, including space. So I think the next step is to manage the lowering of expectations in the legacy systems. That's basically what the administration and the Fed are going to be doing for the next couple years, is just gutting their way through retirees' disappointment.
  • There are three things
  • Number one, Obamacare was created to create a framework that would allow significant reduction of costs and benefits under Medicare over time and healthcare over time;
  • Well, the goal of Obamacare is to control.
  • number two, Obamacare was to provide much more control over both the medical establishment and the population at large;
  • and then, three, to do it in a way that will protect corporate profits.
  • in a relatively short period of time US Medicare expenses would be several multiplicities of the GNP.
  • It's clearly a system that makes no economic sense. It's not just that people are aging. If we eat food that has little nutrition and provide healthcare in which pharmaceutical companies are allowed to charge many multiples of what they charge in other countries you're going to get a financial train wreck, which is where we're headed.
  • So I think the goal was to reconcile that and do it in a way that favors corporations and control.
  • If you go around the entire financial ecosystem, they're getting hit within every line by the same pro-centralization policies that ultimately go up to the same people.
  • Do I think it will snuff out the recovery? No. I think it will simply destroy the economics for a whole world of people who were productive.
  • I don't think the banks are fragile. What happened was they were asked to do a job, they did it and now they've taken all the fraudulent paper and sold it to the Fed or torn it up because they had so much in federal credit arbitrage earnings during this period. So I don't think they're fragile.
  • So it certainly puts us in a position where the creditworthiness of a lot of sovereign debt depends on government military might and the ability to debase a variety of players.
  • If you look at it across all the different tools, from fabrication technology to new composite materials to robotics to lasers, we're reaching a critical mass of the economic costs dropping and the speed of learning accelerating.
  • if you want to go really fast and prototype and build out infrastructure, the best way to do it is to make capital available to early venture and start-ups.
  • we, as a society, have stopped the markets from working in the start-up and the small business space.
  • There's been a lot of regulation to make it easy for Wall Street to control and make it difficult for small businesses to raise and circulate liquid equity. It's one of the areas in the economy where there really has been a very serious conspiracy.
  • If you look back at the history of the US stock market you'll see two huge spikes, one in the '20s, one in the '90s, both when very profound new communication and information technology came out.
  • I think we're in danger of another tech bubble. If you look at who's interested in putting money in this and getting lots of prototypes, the last time they did this was in the '90s. They made a fortune on fraud and they used it not only to serve some fundamental economic purposes but they used it to drain out the pension funds and the retail investors.
  • securities convertible into store credits
  • Wall Street doesn't understand about crowdfunding, are the new alignments that are going to be created in terms of circulating knowledge and purchases and money between consumers and entrepreneurs and companies. It's going to create a whole new level of intimacy.
  • I recommend the documentary, "The Naked Brand." It gives a good sense of the worth of that intimacy and the change from a mass media model to much more intimate relationships
  • awakening of global consciousness.
  • in North America there is almost an astonishing lack of transparency about how government money works within the jurisdiction for which we vote for political representation.
  • So if you were going to have proper transparency in America you would have annual financial statements for your congressional district as well as for the whole country.
  • Now, the government has refused since 1995, as required by law, to produce annual financial statements let alone for the places in which you're voting for jurisdiction. And if you're going to have any kind of citizenry accountability or legislator accountability you have to have that kind of transparency and the government has gone to enormous lengths to prevent that kind of transparency while pretending that we're very transparent. So the Internet is going to make it more and more difficult for that absence of transparency to continue or be justified, and that's good.
  • The final thing is, of course, and readers know this if they're reading The Daily Bell, you're dealing in a system that includes a significant amount of corruption and fraud so you just need to be extremely careful about the quality of the people or the enterprises in which you invest or do business with and keep your assets fairly diversified in terms of both areas of the economy, or sectors, and places.
  • That's number one.
  • Number two, a lot of households have assets which represent liabilities of the legacy economy, whether Social Security, Medicare or others, and one of the things you have to understand is the politics – you need to not get trapped in the politics of stringing people out for those benefits. Do the best you can but don't get lost in the treadmill of trying to get promised benefits that may or may not come true. And to the extent that you can not get financially dependent on those benefits it would be very good.
  • if you have all your assets in the legacy economy and none in the growing economy you're going to suffer.
  • Take a look at different predictions that gold is going to increase significantly in value. All those predictions assume that the monetary inflation is going to spill into commodities. And what you're watching instead is the G-7 have been essentially building a corral that forces the horses to run out through the stock market. That's why I call it a crash-up.
  • I think one scenario we're looking at is the possibility of a crash-up scenario where that monetary increase is funneled into the equity markets. One of the most important questions there is, can you get the global population interested in investing in equities? Because the long bond market bull is coming to a close.
  • We have two choices. We can basically write down the debt and go through a huge crunch period or we can have a crash-up in the equity markets.
  • Right after 9/11 – and General Wesley Clark has said this and I experienced it in my tiny little community in Tennessee – we were basically given what the battle plan was going to be – the US military taking over Eurasia. First we were going to go to Afghanistan, then we were going to go to Iraq, then we were going to go to Libya, then we were going to go to Syria and then we're going to Iran. It was all laid out for us and we seem to be following that battle plan, albeit slower than predicted at that time.
  • If we're going to create a global financial system and a one-world currency, you need everybody in the central banking model. You have outliers. We seem to be bringing in all the outliers. As we do, we are trying to checkmate Russia and China within Eurasia, because I think control of Eurasia is essential for maintaining global empire.
  • what we're watching is an effort to bring everybody into a centrally controlled central banking model.
  • Gary Edwards on 16 Oct 13
     
    Catherine is a frequent guest on CoastToCoastAM.com, so I've come to know her well.  Although this interview doesn't discuss her ability to see into the future, I know from experience that she is a real visionary hitting the mark at an astounding clip.  Chalk this interview up as a must read.
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Netanyahu's Coalition of the Unwilling « LobeLog - 0 views

www.lobelog.com/hus-coalition-of-the-unwilling Israel coalition Netanyahu Obama Palestine U.S.-foreign-policy EU
shared by Paul Merrell on 08 May 15 - No Cached
  • After Benjamin Netanyahu’s surprising victory in Israel’s national elections in March, he took until the last possible minute to complete the process of forming the government for his fourth term as Israel’s prime minister. For all the time he invested, despite making it just under the wire, Netanyahu ended up with a fragile, ultra-right-wing coalition and more work ahead of him to bring in at least one more party. The government Netanyahu presented to Israeli President Reuven Rivlin was a bare majority of 61 seats out of the 120-seat Knesset. There are no fig leafs in this coalition, no Tzipi Livni or Ehud Barak for Netanyahu to send to talk fruitlessly with the Palestinians. One might think this would make the coalition more stable, since it consists entirely of the right wing. In this, one would be wrong.
  • Netanyahu is, in fact, desperate to add another party to the coalition because there is so much tension in the current majority, most visibly between Netanyahu’s Likud party and Naftali Bennett’s HaBayit HaYehudi. Likud leaders, including Netanyahu, feel that Bennett essentially held the coalition hostage to his demands. They are quite right about that, but the gambit paid off handsomely for Bennett. HaBayit HaYehudi holds a mere eight seats in the Knesset. Yet Bennett and his party will get four ministries, the deputy defense minister post, as well as the chairs of two key Knesset committees dealing with Israel’s legal system. That is what you get when you play hardball with Netanyahu, a man who likes to talk tough but who is a political creature first and foremost and quickly backs off from a high-stakes fight he is not sure he can win. As things stand, this coalition might not last the year. That is why, after Avigdor Lieberman quit his post as foreign minister and took his greatly diminished party into the opposition, Netanyahu left the post open by keeping that portfolio for himself. In reality, Netanyahu has been the foreign minister all along, so it is not an added burden for him.
  • On the day that Netanyahu was supposed to present his government, he was still eight seats short of a majority. Luckily for Bennett, that was the exact number of seats he controlled and he let Netanyahu know just how lucky he was. Bennett played a game of chicken with Netanyahu, pushing for more and more power within the government and knowing that Bibi was going to have a hard time saying no to anything. Bennett won, and the spoils were vast. The far-right HaBayit HaYehudi party now controls the ministries of education, agriculture, justice, and diaspora affairs. The position of deputy defense minister will also be theirs. It is even worse than it sounds. With the ministry of agriculture comes control over the World Zionist Organization’s Settlement Division, which funds the expansion of settlements. Uri Ariel, perhaps the most extreme pro-settler member of the Knesset, will have that portfolio.
  • ...3 more annotations...
  • Shaked is certain to work hard to undermine Israel’s fragile legal system. She will also be heading the powerful Ministerial Committee for Legislation and the Judicial Appointments Committee, giving her even more leverage to eliminate a legal system that she sees as a bastion of the left. Moreover, she is very likely to be minister of justice when the next attorney general is appointed. Uri Ariel can be equally certain to press hard for as much settlement expansion—all over the West Bank and, especially, in East Jerusalem—as the available shekels and the defense minister, who will still be Moshe Ya’alon, will allow. I would rather not even think about what Bennett, the new minister of education, is going to do to the minds of Israeli students. Academia is also thought of as a bastion of the left in Israel, and the climate for free thought in Israeli institutions is certainly threatened now.
  • A Question of Longevity The real question about all of this is how long it will last. An ultra-right government like this one is not going to get along well with the Obama administration or most of Europe, although the Republican-led Congress is likely to fall in love with it. Some may hope that this will be a case of things getting so bad that political pressure for improvement must come. Sadly, such is not the history of Israel or of this conflict. Netanyahu will be spending the next few months trying to woo Isaac Herzog into the government, and this is what the whole game comes down to. If Herzog joins and creates a national unity government of 85 seats, this government will survive. The Labor Party, which makes up most of the Zionist Union, is unlikely to provide much of a counter to the right-wing majority. Much more likely is that, as has happened in the past, many of Labor’s Knesset members and other leaders will bolt the party rather than serve as a fig leaf for such a far-right government.
  • If Herzog does not join the government, this fourth Netanyahu government will not outlast Barack Obama’s presidency, and might not even come close. The right wing does not play well together, and it will take nothing more than a few well-timed votes of no-confidence to take down this government even if none of the parties bolts. Even that scenario, however, offers little hope. The last elections were hailed as a comeback for Labor, but the center and left still cannot form a coalition without the Joint List (a coalition of mostly Arab parties), and that remains anathema in Israeli politics. In fact, little changed in the left-right balance in the last elections, and that is showing no signs of turning around. It has never been clearer that positive change in Israel is going to require some sort of meaningful action by the United States and/or Europe. If that does not come, and it does not seem to be on the horizon, disaster looms.
  • Paul Merrell on 08 May 15
     
    The dust settles quickly in Israel. Already -- -- A bill is moving through the Knesset and is expected to pass, permanently annexing the entire Jordan Valley and the Syrian Golan Heights.   --  The Israeli military is conducting large-scale maneuvers in the West Bank. Palestinians are seeing it as prelude to a mass eviction of Palestinians from the Jordan Valley.   -- A large section of East Jerusalem has been walled off with an iron gate, prelude to annexation and expulsion of its Palestinian residents. -- Netanyahu is so desperate for posts to offer another party in the national government that he has introduced legislation in the Knesset which would suspend, until the next government is formed, the limit on the number of cabinet ministers and deputy ministers and to allow ministers without portfolio. The centrist Yesh Atid party has served notice of intent to sue to block the legislation.  
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You're More Likely to Die from Brain-Eating Parasites, Alcoholism, Obesity, Medical Err... - 0 views

www.washingtonsblog.com/...o-be-killed-by-terrorists.html war & peace war on terror™ terrorism causes-of-death stats
shared by Paul Merrell on 11 Nov 13 - No Cached
  • We noted in 2011: – You are 17,600 times more likely to die from heart disease than from a terrorist attack – You are 12,571 times more likely to die from cancer than from a terrorist attack — You are 11,000 times more likely to die in an airplane accident than from a terrorist plot involving an airplane — You are 1048 times more likely to die from a car accident than from a terrorist attack –You are 404 times more likely to die in a fall than from a terrorist attack — You are 87 times more likely to drown than die in a terrorist attack – You are 13 times more likely to die in a railway accident than from a terrorist attack –You are 12 times more likely to die from accidental suffocation in bed than from a terrorist attack –You are 9 times more likely to choke to death on your own vomit than die in a terrorist attack –You are 8 times more likely to be killed by a police officer than by a terrorist –You are 8 times more likely to die from accidental electrocution than from a terrorist attack – You are 6 times more likely to die from hot weather than from a terrorist attack Let’s look at some details from the most recent official statistics.
  • The U.S.  Department of State reports that only 17 U.S. citizens were killed worldwide as a result of terrorism in 2011. That figure includes deaths in Afghanistan, Iraq and all other theaters of war. In contrast, the American agency which tracks health-related issues – the U.S. Centers for Disease Control – rounds up the most prevalent causes of death in the United States:
  • (Keep in mind when reading this entire piece that we are consistently and substantially understating the risk of other causes of death as compared to terrorism, because we are comparing deaths from various causes within the United States against deaths from terrorism worldwide.)
  • Paul Merrell on 11 Nov 13
     
    Reminds of a quote: "Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. This is not a way of life at all in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron." - Dwight D. Eisenhower, From a speech before the American Society of Newspaper Editors (16 April 1953)
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BP Settlement in Gulf Oil Spill Is Raised to $20.8 Billion - The New York Times - 0 views

www.nytimes.com/...is-raised-to-20-8-billion.html environment BP litigation settlement
shared by Paul Merrell on 13 Oct 15 - No Cached
  • The Justice Department on Monday announced a final settlement with the oil giant BP of $20.8 billion for its role in the disastrous 2010 Gulf of Mexico oil spill, raising the total from the initial $18.7 billion settlement announced in July.At either amount, it is the largest environmental settlement — and the largest civil settlement with any single entity — in the nation’s history.The United States attorney general, Loretta Lynch, called the filing of the final settlement “a major step forward in our effort to deliver justice to the gulf region in the wake of the Deepwater Horizon tragedy — the largest environmental disaster our nation has ever endured.”Gina McCarthy, the Environmental Protection Agency administrator, estimated that the final settlement represented a payment of $1,725 for each barrel of oil spilled in the disaster. The maximum amount that a judge could have assessed in the case was $4,300 a barrel.
  • The settlement resolves a 2010 lawsuit filed by the Justice Department against BP. It includes civil claims under the Clean Water Act, for which BP has agreed to pay a $5.5 billion penalty, the largest civil penalty in the history of environmental law. Also, it includes natural resources damages claims under the Oil Pollution Act, for which BP has agreed to pay $7.1 billion, on top of the $1 billion it previously committed to pay for early restoration work. Continue reading the main story Related in Opinion Editorial: BP Deal Will Lead to a Cleaner GulfJULY 8, 2015 In addition, the settlement includes economic damages claims, for which BP has agreed to pay $4.9 billion to the five gulf states — Alabama, Florida, Louisiana, Mississippi and Texas — and up to $1 billion to local governments. Louisiana, the hardest hit of the states, will receive $5 billion of the $8.8 billion allocated for restoration.Ms. Lynch said the increase in the total settlement represented a “refining of the numbers” over the initial settlement. “Over time, we refine numbers as the settlement is finalized,” she said.
  • Geoff Morrell, BP senior vice president for United States communications, said in a statement that the revised overall figure did not change the settlement announced in July, but included amounts previously spent or disclosed by the company. The settlement, he said, “resolves the largest litigation liabilities remaining from the tragic accident,” and provides the company “certainty with respect to its financial obligations.”Under the draft restoration plan, $8.8 billion would be allocated to restore the gulf ecosystem.
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  • A panel responsible for assessing the damages to the gulf ecosystems found effects on the region’s wildlife, including fish, oysters, plankton, birds and sea mammals; habitat, including marshes and beaches; and recreational activities.The proposed $8.8 billion in restoration would be invested across the five gulf states over 15 years, in a range of projects intended to restore those resources.“This restoration plan ensures that the funds will be distributed in ways that make sense,” Ms. McCarthy said.
  • Paul Merrell on 13 Oct 15
     
    Let's see. $20.8 billion total settlement. $8.8 billion going to environmental restoration. The Feds pocket $12 billion. And it's all pennies on the dollar in terms of ongoing damage.  The Feds, knowing that they can profit from environmental havoc committed by corporations, only paused deep ocean drilling permits for a few months, hoping for more damage to be caused by other companies.  The real scandal was and is that BP had a long and extremely well-documented history of causing environmental disasters in their pursuit of oil profits. Were there truly any environmental justice, the result would have been corporate capital punishment and virtually all of its executives in prison for the remainder of their lives, preferably at hard labor cleaning up the mess they created. But throw enough zeros after the settlement number and the human beings whose penny-pinching on safety caused the disaster walk free, free to do it all over again. They must have joined the same Too Big to Jail Golf Club that the banksters use.  
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The Europeanization of America - WSJ.com Pete Dupont - 0 views

online.wsj.com/...SB122504438328069963.html politics obama socialism pete-dupont
shared by Gary Edwards on 29 Oct 08 - Cached
  • Gary Edwards on 29 Oct 08
     
    So where is the new Obama administration likely to take us? Seven things seem certain: The U.S. military will withdraw from Iraq quickly and substantially, regardless of conditions on the ground or the obvious consequence of emboldening terrorists there and around the globe. Protectionism will become our national trade policy; free trade agreements with other nations will be reduced and limited. Income taxes will rise on middle- and upper-income people and businesses, and individuals will pay much higher Social Security taxes, all to carry out the new president's goals of "spreading the wealth around." Federal government spending will substantially increase. The new Obama proposals come to more than $300 billion annually, for education, health care, energy, environmental and many other programs, in addition to whatever is needed to meet our economic challenges. Mr. Obama proposes more than a 10% annual spending growth increase, considerably higher than under the first President Bush (6.7%), Bill Clinton (3.3%) or George W. Bush (6.4%). Federal regulation of the economy will expand, on everything from financial management companies to electricity generation and personal energy use. The power of labor unions will substantially increase, beginning with repeal of secret ballot voting to decide on union representation. Free speech will be curtailed through the reimposition of the Fairness Doctrine to limit the conservative talk radio that so irritates the liberal establishment. These policy changes will be the beginning of the Europeanization of America.
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Gold, Peace, and Prosperity: The Birth of a New Currency | Silver Monthly - The Silver ... - 0 views

www.silvermonthly.com/...ty-the-birth-of-a-new-currency gold-currency ron-paul financial-collapse financial-oligarchs Banksters banksters
shared by Gary Edwards on 13 May 10 - Cached
  • Gary Edwards on 13 May 10
     
    Gold, Peace, and Prosperity is the title of Ron Paul's essay for a "modern" gold standard.  According to Paul, such a standard would end the relentless boom-bust cycle, and maintain the value of King Dollar.  However, King Dollar would have to be founded on a monetary standard that eschews government tampering. Paul begins his treatise by pointing out that "Congress alone is responsible for inflation, and Congress alone can stop it."  Which means that the old scapegoats - OPEC, greedy CEOs, labor unions - are not the real cause of inflation.  To support his contention, Paul relates a story told by Marco Polo in his travels through China.  As Paul states, "Abuse of paper money led to the expulsion of the Mongol dynasty from China." Bretton Woods - in 1944 - supposedly established a new gold exchange standard.  In Paul's opinion, Bretton Woods was "nothing more than an international Federal Reserve System."  And of course, it didn't do anything but cause more inflation.  Then on August 15, 1971, President Nixon "closed the 'gold window.'"  This was the beginning of "managed fiat currency." Paul states that since 1971, the price of gold has increased "more than twentyfold."  The trade deficit has increased by 1146%, and the Consumer Price Index has increased 79%.  Due to these imbalances, he concludes that the dollar is dead.    Rather than pronouncing the Last Rites over the dollar, followed by a mournful funeral and weeping and wailing, Paul views the death of the dollar as an opportunity.  "The time is ripe for the institution of a trustworthy monetary system."  And it's not all that difficult.  The way to stop inflation is to "stop inflating the money supply."  Paul then cites the three main reasons politicians, bankers, etc., desire inflation:  greed, power, and a way to pay the government's bills without raising taxes sky-high.  The answer - the only alternative - to inflation is
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Freedom Force International - Welcome - 0 views

www.freedom-force.org Freedom-force-international G-Edward-Griffin Federal-Reserve-Bank-Cartel
shared by Gary Edwards on 19 Jul 11 - Cached
  • Gary Edwards on 19 Jul 11
     
    Founded by G. Edward Griffin of Jekyl Island - Federal Reserve fame, Freedom Force International has become a vast network of men and women from all parts of the world who are concerned over loss of personal liberty and expansion of government power. They are not mere complainers. They have a plan to do something about it. They also share a common belief in The Creed of Freedom, which is a statement of principles that guide them in their mission to build a better world. Totalitarianism is on the rise everywhere because advocates of big government have taken leadership control of the power centers within every society. Power centers are organizations and social groupings - such as political parties, labor unions, church groups, media centers, and professional societies - that hold political power based on their claim to represent their members and on their ability to lead public opinion. It has taken many years for them to achieve this dominance over society, but they have succeeded. It does no good to complain or to theorize about what should be done. As long as advocates of big government hold the power, nothing will change......
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Record High in U.S. Say Big Government Greatest Threat - 0 views

www.gallup.com/...overnment-greatest-threat.aspx polls
shared by Paul Merrell on 22 Dec 13 - No Cached
  • Seventy-two percent of Americans say big government is a greater threat to the U.S. in the future than is big business or big labor, a record high in the nearly 50-year history of this question. The prior high for big government was 65% in 1999 and 2000. Big government has always topped big business and big labor, including in the initial asking in 1965, but just 35% named it at that time.
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Economy Grows Incomes Shrink | Al Jazeera America - 0 views

america.aljazeera.com/...nomy-grows-incomes-shrink.html economy income-inequality
shared by Paul Merrell on 02 Feb 15 - No Cached
  • The first data on 2013 incomes show continuing bad news for Americans, my analysis of a new Internal Revenue Service report shows. Average income fell 2.6 percent in 2013, even though the economy grew 3.2 percent in real terms over 2012. Average inflation-adjusted income in 2013 was 8 percent lower than in 2007, the last peak economic year, and 6.9 percent less than in 2000, the year President George W. Bush set as the standard to evaluate the effect of his tax cuts and regulatory policies. This is the latest sign of a disturbing trend. An ever-shrinking share of national income flows to individuals while corporate profits expand. 
  • Paul Merrell on 02 Feb 15
     
    Labor continues to be denied a share of the profits in productivity gains. 
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European Banks vs. Greek Labour   :  Information Clearing House - ICH - 0 views

www.informationclearinghouse.info/article41100.htm class-warfare Greece banksters Spain Portugal Ireland bailing-out-banks
shared by Paul Merrell on 27 Feb 15 - No Cached
  • PERIES: So, Michael, these international banks represented by the finance ministers now in Brussels, when they were in crisis and we the public treasury bailed them out, they had no problem with that. Why are they now refusing to assist Greece at a time of need when in fact some politicians and even the troika is being more receptive to what Greece is saying? HUDSON: Because what's at issue really is a class war. It's not so much Germany versus Greece, as the papers say. It's really the war of the banks against labor. And it's a continuation of Thatcherism and neoliberalism. The problem isn't simply that the troika wants Greece to balance the budget; it wanted Greece to balance the budget by lowering wages and by imposing austerity on the labor force. But instead, the terms in which Varoufakis has suggested balancing the budget are to impose austerity on the financial class, on the tycoons, on the tax dodgers. And he said, okay, instead of lowering pensions to the workers, instead of shrinking the domestic market, instead of pursuing a self-defeating austerity, we're going to raise two and a half billion from the powerful Greek tycoons. We're going to collect the back taxes that they have. We're going to crack down on illegal smuggling of oil and the other networks and on the real estate owners that have been avoiding taxes, because the Greek upper classes have become notorious for tax dodging.
  • Well, this has infuriated the banks, because it turns out the finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich, because the banks know that whatever taxes the rich are able to avoid ends up being paid to the banks. So now the gloves are off and the class war is sort of back. Originally, Varoufakis thought he was negotiating with the troika, that is, with the IMF, the European Central Bank, and the Euro Council. But instead they said, no, no, you're negotiating with the finance ministers. And the finance ministers in Europe are very much like Tim Geithner in the United States. They're lobbyists for the big banks. And the finance minister said, how can we screw up this and make sure that we treat Greece as an object lesson, pretty much like America treated Cuba in 1960?
  • Paul Merrell on 27 Feb 15
     
    Just as you've given up on society, life throws you some comedy. 
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Virtual Economy's Phantom Job Gains Are Based on Statistical Fraud - 0 views

www.informationclearinghouse.info/article39017.htm financial-collapse unemployment stats fraud
shared by Paul Merrell on 08 Jul 14 - No Cached
  • Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality. In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs. Williams reports that “the seasonal factors are changed each and every month as part of the concurrent seasonal-adjustment process, which is tantamount to a fraud,” as the changes in the seasonal factors can inflate the jobs number. While the headline numbers always are on a new basis, the prior reporting is not revised so as to be consistent.
  • The monthly unemployment rates are not comparable, so one doesn’t know whether the official U.3 rate (the headline rate that the financial press reports) went up or down. Moreover, the rate does not count discouraged workers who, unable to find a job, cease looking. To be counted among the U.3 unemployed, the person must have actively looked for work during the four weeks prior to the survey. The U.3 rate automatically declines as people who have been unable to find jobs cease trying to find one and thereby cease to be counted as unemployed.
  • Since 1994 there has been no official measure than includes discouraged people who have not looked for a job for more than a year. Including all discouraged workers produces an unemployment rate that currently stands at 23.1%, almost four times the rate that the financial press reports. What you can take away from this is the opposite of what the presstitute media would have you believe. The measured rate of unemployment can decline simply because large numbers of the unemployed become discouraged workers, cease looking for work, and cease to be counted in the U.3 and U.6 measures of the unemployment rate.
  • Paul Merrell on 08 Jul 14
     
    Paul Craig Roberts dismantles the latest employment stats.
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Fast food workers, other low-wage employees launch nationwide strike | Al Jazeera America - 0 views

america.aljazeera.com/...erslaunchnationwidestrike.html economy financial-collapse fast-food strike
shared by Paul Merrell on 04 Dec 14 - No Cached
  • Fast-food workers in roughly 190 cities nationwide are set to walk off the job Thursday morning, demanding an industry-wide base wage of $15 per hour and the right to form a union. Thursday’s strike, the latest in a series of day-long labor actions coordinated through a nationwide coalition of various fast food worker groups, may well be the largest work stoppage in the history of the industry, if early organizer estimates prove to be accurate. This will also be the first strike since the campaign began in November 2012 to include work stoppages at businesses other than fast-food restaurants. Organizers say that some employees of dollar stores and convenience stores in about two dozen cities are also walking off the job, a sign that the campaign is extending its reach into other parts of the service and retail sector. By recruiting workers from outside the fast food business, organizers for the fast food campaign appear to be knitting together a broader low-wage campaign that crosses industry barriers. Workers in roughly 150 cities voted by conference call on Nov. 29, the two-year anniversary of the campaign’s first labor action, to approve the strike date.
  • Paul Merrell on 04 Dec 14
     
    A revival of trade unionism in the U.S.? If broadly successful, the higher wages should stoke the U.S. economy. Trickle-down doesn't work; trickle-up does. 
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Silicon Valley represents an entirely new political category | Gregory Ferenstein | Lin... - 0 views

www.linkedin.com/...w-political-gregory-ferenstein Silicon-Valley
shared by Gary Edwards on 12 Nov 15 - No Cached
  • Gary Edwards on 12 Nov 15
     
    "Silicon Valley represents an entirely new political category" Over the last decade, Silicon Valley has become an extraordinary force in politics, but they've bewildered the DC establishment with their bizarre loyalties. Tech titans are the arch nemesis of labor unions on a series of fronts, from high-skilled immigration and the taxi industry to free trade and their aggressive funding of union-less public charter schools. And, yet, tech CEOs are arguably the Democrats' biggest cheerleaders: in the 2012 presidential election, 83% of employee donations from top tech firms went to Obama. "Most of Silicon Valley, most of the executives, tend to be Democrats," PayPal co-Founder, Peter Thiel, told me." Very interesting article based on interviews and surveys of Silicon Valley technology leaders.
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Hating the Establishment Is Not the Same as Supporting Liberty | Foundation for Economi... - 1 views

fee.org/...the-same-as-supporting-liberty Banksters The-Establishment Jeffrey-A-Tucker
shared by Gary Edwards on 31 Jan 16 - No Cached
  • You might point to the American Revolution as a contrary case. We tossed out the British monarchy and invented freedom! But think again. The war itself created a new establishment consisting of politicians, military generals, bond dealers, and influential landholders.
  • Twelve years after the Declaration of Independence, these groups got together and formed a new government that, in time, became as oppressive and restrictive — and in some ways, more so — as the one the revolutionaries overthrew. And this occurred despite the existence of classical liberal political norms and intellectual culture.
  • He has said nothing about dismantling power.
  • ...9 more annotations...
  • Indeed, he is on record with his desire to radically expand the power of the state.
  • He wants surveillance, controls on the internet, religious tests for migration, war-like tariffs, industrial planning, and autocratic foreign-policy power. He’s praised police power and toyed with ideas such as internment and killings of political enemies. His entire governing philosophy boils down to arbitrary, free-wheeling authoritarianism.
  • As for Sanders, everything that is bad about the current establishment he promises to make worse with more programs, bureaucracy, taxes, controls, and government power in order to making life fair, just, and equitable. He speaks as if he’s never heard of the failed history of socialism and certainly hasn’t learned anything from it.
  • The ideal is liberty, not the overthrow of existing elite structures as such.
  • They resist rampant populism that would lead to a pillaging of the nation that is serving them so well.
  • To understand Machiavelli, realize that his black beast was the cleric Savonarola, Florence’s quasi-dictator who led a mass movement of crazed pietists who pillaged and burned material possessions as a pathway to heaven. The Bonfire of the Vanities of 1487 was one result. This is exactly the kind of mania that establishments exist to keep at bay.
  • The main payout is the control of the state apparatus that outlives the establishment’s overthrow. It makes sense that the results will tend to be more ruthless, vengeful, and bloody than anything that came before.
  • Establishments are as Machiavelli described: stable machines that keep competitors at bay but otherwise seek to make the system work for themselves.
  • The goal should be the tearing down of power itself and its replacement by simple human rights and a society that functions according to civilized standards.
  • Gary Edwards on 31 Jan 16
     
    "But there's a problem. The state power we oppose is not identical to the establishment we reject. You can overthrow the establishment and still be left with a gigantic machinery of legalized exploitation. All the agencies, laws, regulations, and powers are still in place. And now you have a problem: someone else is in charge of the state itself. You might call it a new establishment. It could be even more wicked than the one you swept away. Indeed, it usually is. Maybe always. Anatomy of the Establishment What is an establishment? It is a network of large and cooperating interest groups that have developed a stable relationship with state power. It includes finance, organized labor, public bureaucrats, government contractors, big businesses with quid pro quo relationships with regulators and politicians, political families with a strong stake in the election process, intellectuals at state-friendly think tanks and universities, and so on."
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McClatchy reports: 33,480 Americans dead after 70 years of atomic weaponry | McClatchy DC - 0 views

www.mcclatchydc.com/...article49216310.html war & peace U.S. nuclear-weapons-industry deaths cancer stats
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  • “Irradiated,” a special report published today by McClatchy, offers an unprecedented look at the costs of war and the risks of a strong defense, using federal records to chronicle the deaths of at least 33,480 nuclear workers who helped the U.S. win World War II and the Cold War.The number of deaths has never been disclosed by federal officials. It’s more than four times the number of American casualties in the wars in Afghanistan and Iraq. And it looms large as the nation prepares for its second nuclear age, with a $1 trillion plan to modernize its nuclear weapons over the next 30 years. McClatchy determined the count after analyzing more than 70 million records in a database obtained from the U.S. Department of Labor under the Freedom of Information Act. It includes all workers who are dead after they or their survivors received compensation under a special fund created in 2001 to help those who got sick in the construction of America’s nuclear arsenal.A total of 107,394 workers have been diagnosed with cancers and other diseases after building the nation’s nuclear stockpile over the last seven decades. The project includes an interactive database that offers details on all 107,394 workers.
  • Among the other findings:— Federal officials greatly underestimated how sick the U.S. nuclear workforce would become. At first, the government predicted the compensation program would serve only 3,000 people at an annual cost of $120 million. Fourteen years later, taxpayers have spent sevenfold that estimate, $12 billion.— Even though costs have ballooned, federal records show that fewer than half of those workers who sought help had their claims approved by the U.S. Department of Labor. — Despite the cancers and other illnesses among nuclear works, the government now wants to save money by cutting current employees’ health plans, retirement benefits and sick leave.— And stronger safety standards have not stopped accidents or day-to-day radiation exposure; more than 186,000 workers have been exposed since 2001, all but assuring a new generation of claimants.McClatchy reported the project in partnership with The Investigative Fund of the Nation Institute, a nonprofit media center based in New York City.
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