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Paul Merrell

Information Warfare: Automated Propaganda and Social Media Bots | Global Research - 0 views

www.globalresearch.ca/...5438304

automated-propaganda social-media-bots

shared by Paul Merrell on 25 Mar 15 - No Cached
  • NATO has announced that it is launching an “information war” against Russia. The UK publicly announced a battalion of keyboard warriors to spread disinformation. It’s well-documented that the West has long used false propaganda to sway public opinion. Western military and intelligence services manipulate social media to counter criticism of Western policies. Such manipulation includes flooding social media with comments supporting the government and large corporations, using armies of sock puppets, i.e. fake social media identities. See this, this, this, this and this. In 2013, the American Congress repealed the formal ban against the deployment of propaganda against U.S. citizens living on American soil. So there’s even less to constrain propaganda than before.
  • Information warfare for propaganda purposes also includes: The Pentagon, Federal Reserve and other government entities using software to track discussion of political issues … to try to nip dissent in the bud before it goes viral “Controlling, infiltrating, manipulating and warping” online discourse Use of artificial intelligence programs to try to predict how people will react to propaganda
  • Some of the propaganda is spread by software programs. We pointed out 6 years ago that people were writing scripts to censor hard-hitting information from social media. One of America’s top cyber-propagandists – former high-level military information officer Joel Harding – wrote in December: I was in a discussion today about information being used in social media as a possible weapon.  The people I was talking with have a tool which scrapes social media sites, gauges their sentiment and gives the user the opportunity to automatically generate a persuasive response. Their tool is called a “Social Networking Influence Engine”. *** The implications seem to be profound for the information environment. *** The people who own this tool are in the civilian world and don’t even remotely touch the defense sector, so getting approval from the US Department of State might not even occur to them.
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  • How Can This Real? Gizmodo reported in 2010: Software developer Nigel Leck got tired rehashing the same 140-character arguments against climate change deniers, so he programmed a bot that does the work for him. With citations! Leck’s bot, @AI_AGW, doesn’t just respond to arguments directed at Leck himself, it goes out and picks fights. Every five minutes it trawls Twitter for terms and phrases that commonly crop up in Tweets that refute human-caused climate change. It then searches its database of hundreds to find a counter-argument best suited for that tweet—usually a quick statement and a link to a scientific source. As can be the case with these sorts of things, many of the deniers don’t know they’ve been targeted by a robot and engage AI_AGW in debate. The bot will continue to fire back canned responses that best fit the interlocutor’s line of debate—Leck says this goes on for days, in some cases—and the bot’s been outfitted with a number of responses on the topic of religion, where the arguments unsurprisingly often end up. Technology has come a long way in the past 5 years. So if a lone programmer could do this 5 years ago, imagine what he could do now. And the big players have a lot more resources at their disposal than a lone climate activist/software developer does.  For example, a government expert told the Washington Post that the government “quite literally can watch your ideas form as you type” (and see this).  So if the lone programmer is doing it, it’s not unreasonable to assume that the big boys are widely doing it.
  • How Effective Are Automated Comments? Unfortunately, this is more effective than you might assume … Specifically, scientists have shown that name-calling and swearing breaks down people’s ability to think rationally … and intentionally sowing discord and posting junk comments to push down insightful comments  are common propaganda techniques. Indeed, an automated program need not even be that sophisticated … it can copy a couple of words from the main post or a comment, and then spew back one or more radioactive labels such as “terrorist”, “commie”, “Russia-lover”, “wimp”, “fascist”, “loser”, “traitor”, “conspiratard”, etc. Given that Harding and his compadres consider anyone who questions any U.S. policies as an enemy of the state  – as does the Obama administration (and see this) – many honest, patriotic writers and commenters may be targeted for automated propaganda comments.
Paul Merrell

Cybersecurity Information Sharing: A Legal Morass, Says CRS - 0 views

fas.org/...info-sharing-crs

cybersecurity legislation CRS nuclear-weapons

shared by Paul Merrell on 25 Mar 15 - No Cached
  • Several pending bills would promote increased sharing of cybersecurity-related information — such as threat intelligence and system vulnerabilities — in order to combat the perceived rise in the frequency and intensity of cyber attacks against private and government entities. But such information sharing is easier said than done, according to a new report from the Congressional Research Service, because it involves a thicket of conflicting and perhaps incompatible laws and policy objectives. “The legal issues surrounding cybersecurity information sharing… are complex and have few certain resolutions.” A copy of the CRS report was obtained by Secrecy News. See Cybersecurity and Information Sharing: Legal Challenges and Solutions, March 16, 2015. Cyber information sharing takes at least three different forms: the release of cyber intelligence from government to the private sector, information sharing among private entities, and the transfer of threat information from private entities to government agencies.
  • “While collectively these three variants on the concept of cyber-information sharing have some commonalities, each also raises separate legal challenges that may impede cyber-intelligence dissemination more generally,” said the CRS report, which examines the legal ramifications of each category in turn. Among the concerns at issue are: the potential for liability associate with disclosure of cybersecurity information, inappropriate release of private information through open government laws, loss of intellectual property, and potential compromise of personal privacy rights. All of these create a legal morass that may be unreconcilable. “A fundamental question lawmakers may need to contemplate is how restrictions that require close government scrutiny and control over shared cyber-information can be squared with other goals of cyber-information sharing legislation, like requirements that received information be disseminated in an almost instantaneous fashion,” the CRS report said.
  • “Ultimately, because the goals of cyber-information legislation are often diametrically opposed, it may simply be impossible for information sharing legislation to simultaneously promote the rapid and robust collection and dissemination of cyber-intelligence by the federal government, while also ensuring that the government respects the property and privacy interests implicated by such information sharing,” the report said. Other new or newly updated CRS reports that Congress has withheld from public distribution include the following. Cybersecurity: Authoritative Reports and Resources, by Topic, March 13, 2015
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  • U.S. Strategic Nuclear Forces: Background, Developments, and Issues, March 18, 2015
Paul Merrell

Two Supermarket Executives Charged With Hoarding in Venezuela | venezuelanalysis.com - 0 views

venezuelanalysis.com/11294

war & peace Venezuela U.S.-foreign-policy hoarding litigation

shared by Paul Merrell on 25 Mar 15 - No Cached
  • Two managers of the private supermarket chain Dia Dia were formally charged by the Venezuelan state prosecutor yesterday with the alleged crimes of boycott and destabilization of the economy. Manuel Andrés Morales Ordosgoitti and Tadeo Arriechi Franco were arrested at the beginning of February after state authorities uncovered ton loads of basic items in a Dia Dia warehouse in Caracas. The indictments are part of a ramped up effort on the part of the Venezuelan government to crack down on hoarding and speculation by large private retailers, which is a primary contributing factor to inflation and widespread scarcities of basic goods.
  • The Bolivarian government has regulated the prices of everyday goods for years, in order to ensure access by the majority of Venezuelans for whom they were unaffordable under previous administrations. Nonetheless, the government has accused the private sector of exploiting this policy by hoarding cheap subsidized goods, creating consumer gaps, then selling them at exorbitant prices on the black market in what President Maduro has termed an “economic war” waged to destabilize the socialist government. Last month, board members of the private firms Dia Dia and Carnica 2005 were arrested for their companies’ role in a massive hoarding operation.
  • Carnica 2005 was nationalized and integrated into the state food distribution network PDVAL. Dia Dia operates 35 supermarkets throughout Venezuela, which are largely found in low-income communities.
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  • On Monday, Venezuelan Vice-President Jorge Arreaza inaugurated the first of the nation’s “people’s military commands” in Lara state, which will be charged with “generating a victory in the economic war.” Last month, President Nicolas Maduro unveiled his plan for the creation of “peoples’ military commands” throughout the nation designed to combat “economic sabotage” at the local level by ensuring the supply of basic food and hygiene products as well as medicines. “The men and women who form these commands have the responsibility of attending to the denunciations of the people and safeguarding their access to food, medicine, and all necessary products,” declared the vice-president.
  • The people’s commands will reportedly operate in coordination with social movements, communal councils and communes, and state security organs, although details remain limited as the project is gets off the ground. 
  • Paul Merrell on 25 Mar 15
     
    It's a big problem in Venezuela. The government subsidizes the purchase of consumer goods so that they can be priced lower for those with low incomes. But the right-wing "capitalists" aligned with U.S. covert agencies hoard the goods, creating artificial market shortages, then sell the goods on the black market at inflated prices. The current response by the government is criiminal prosecutions coupled with nationalization of businesses that don't hear the message. I suspect that the government may be forced at some point to drop the subsidies and begin writing welfare checks to low income citizens instead. The Bolivarian government is absolutely committed to ending poverty in Venezuela. Of course this smells too much of socialism for U.S. government tastes, which has been attempting to overthrow the Bolivarian government ever since it nationalized the oil industry. 
Paul Merrell

French Firm Pulls Out of Jerusalem Cable Car Project - International Middle East Media ... - 0 views

www.imemc.org/71032

war & peace Israel Palestine Jerusalem BSD

shared by Paul Merrell on 29 Mar 15 - No Cached
  • France-based utility giant Suez Environnement said Wednesday that, because of political sensitivities, it has decided not to take part in a cable car project linking West Jerusalem to the annexed Eastern sector.
  • The project, run by the Jerusalem city council, has stoked controversy over the Israeli cable car's planned route, which passes through parts of mostly Palestinian East Jerusalem, according to the PNN. "To avoid any political interpretation, Suez Environnement has decided not to take part in this project," it said.
  • The PLO and international community oppose any Israeli construction in East Jerusalem, which was seized in the 1967 Middle East war and is officially recognized as occupied Palestinian territory. The Palestinian Boycott, Divestment and Sanctions National Committee welcomed the decision. "Safege and Puma has taken the only sensible decision and have avoided participating in Israel's colonization of Palestinian land. By doing so they have also avoided becoming targets for the international BDS movement," a statement on their website said.
  • Paul Merrell on 29 Mar 15
     
    Score another one for the Palestine Boycott, Divestment, and Sanctions movement. 
Paul Merrell

What's the big deal between Russia and the Saudis? - RT Op-Edge - 0 views

www.rt.com/...-saudia-arabia-russia-politics

war & peace Russia Saudis Syria Yemen Iran Israel pipelinestan-wars must-read

shared by Paul Merrell on 10 Nov 15 - No Cached
  • Amidst the wilderness of mirrors surrounding the Syrian tragedy, a diamond-shaped fact persists: Despite so many degrees of separation, the Saudis are still talking to the Russians. Why? A key reason is because a perennially paranoid House of Saud feels betrayed by their American protectors who, under the Obama administration, seem to have given up on isolating Iran.
  • From the House of Saud’s point of view, three factors are paramount. 1) A general sense of ‘red alert’ as they have been deprived from an exclusive relationship with Washington, thus becoming incapable of shaping US foreign policy in the Middle East; 2) They have been mightily impressed by Moscow’s swift counter-terrorism operation in Syria; 3) They fear like the plague the current Russia-Iran alliance if they have no means of influencing it.
  • That explains why King Salman’s advisers have pressed the point that the House of Saud has a much better chance of checking Iran on all matters - from “Syraq” to Yemen - if it forges a closer relationship with Moscow. In fact, King Salman may be visiting Putin before the end of the year.
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  • One of the untold stories of the recent Syria-driven diplomatic flurry is how Moscow has been silently working on mollifying both Saudi Arabia and Turkey behind the scenes. That was already the case when the foreign ministers of US, Russia, Turkey and Saudi Arabia met before Vienna.Vienna was crucial not only because Iran was on the table for the first time but also because of the presence of Egypt – incidentally, fresh from recent discovery of new oil reserves, and engaging in a reinforced relationship with Russia.The absolute key point was this paragraph included in Vienna’s final declaration: “This political process will be Syrian-led and Syrian-owned, and the Syrian people will decide the future of Syria.”It’s not by accident that only Russian and Iranian media chose to give the paragraph the appropriate relevance. Because this meant the actual death of the regime change obsession, much to the distress of US neocons, Erdogan and the House of Saud.
  • The main point is the death of the regime change option, brought about by Moscow. And that leaves Putin free to further project his extremely elaborate strategy. He called Erdogan on Wednesday to congratulate him on his and the AKP’s election landslide. This means that now Moscow clearly has someone to talk to in Ankara. Not only about Syria. But also about gas.Putin and Erdogan will have a crucial energy-related meeting at the G20 summit on November 15 in Turkey; and there’s an upcoming visit by Erdogan to Moscow. Bets are on that the Turk Stream agreement will be – finally – reached before the end of the year. And on northern Syria, Erdogan has been forced to admit by Russian facts on the ground and skies that his no-fly zone scheme will never fly.
  • That leaves us with the much larger problem: the House of Saud.There’s a wall of silence surrounding the number one reason for Saudi Arabia to bomb and invade Yemen, and that is to exploit Yemen’s virgin oil lands, side by side with Israel – no less. Not to mention the strategic foolishness of picking a fight with redoubtable warriors such as the Houthis, which have sowed panic amidst the pathetic, mercenary-crammed Saudi army.Riyadh, following its American reflexes, even resorted to recruiting Academi – formerly Blackwater - to round up the usual mercenary suspects as far away as Colombia.It was also suspected from the beginning, but now it's a done deal that the responsible actor for the costly Yemen military disaster is none other than Prince Mohammad bin Salman, the King’s son who, crucially, was sent by his father to meet Putin face-to-face.
  • Meanwhile, Qatar will keep crying because it was counting on Syria as a destination point for its much-coveted gas pipeline to serve European customers, or at least as a key transit hub on the way to Turkey.Iran on the other hand needed both Iraq and Syria for the rival Iran-Iraq-Syria gas pipeline because Tehran could not rely on Ankara while it was under US sanctions (this will now change, fast). The point is Iranian gas won’t replace Gazprom as a major source for the EU anytime soon. If it ever did, or course, that would be a savage blow to Russia.
  • In oil terms, Russia and the Saudis are natural allies. Saudi Arabia cannot export natural gas; Qatar can. To get their finances in order – after all even the IMF knows they are on a highway to hell - the Saudis would have to cut back around ten percent of production with OPEC, in concert with Russia; the oil price would more than double. A 10 percent cutback would make a fortune for the House of Saud.So for both Moscow and Riyadh, a deal on the oil price, to be eventually pushed towards $100 a barrel, would make total economic sense. Arguably, in both cases, it might even mean a matter of national security.But it won’t be easy. OPEC’s latest report assumes a basket of crude oil to be quoted at only $55 in 2015, and to rise by $5 a year reaching $80 only by 2020. This state of affairs does not suit either Moscow or Riyadh.
  • Meanwhile, fomenting all sorts of wild speculation, ISIS/ISIL/Daesh still manages to collect as much as $50 million a month from selling crude from oilfields it controls across “Syraq”, according to the best Iraq-based estimates.The fact that this mini-oil caliphate is able to bring in equipment and technical experts from “abroad” to keep its energy sector running beggars belief. “Abroad” in this context means essentially Turkey – engineers plus equipment for extraction, refinement, transport and energy production.One of the reasons this is happening is that the US-led Coalition of the Dodgy Opportunists (CDO) – which includes Saudi Arabia and Turkey - is actually bombing the Syrian state energy infrastructure, not the mini oil-Caliphate domains. So we have the proverbial “international actors” in the region de facto aiding ISIS/ISIL/Daesh to sell crude to smugglers for as low as $10 a barrel.Saudis – as much as Russian intel - have noted how ISIS/ISIL/Daesh is able to take over the most advanced US equipment that takes months to master, and instead integrate it into their ops at once. This implies they must have been extensively trained. The Pentagon, meanwhile, sent and will be sending top military across “Syraq” with an overarching message: if you choose Russia we won’t help you.ISIS/ISIL/Daesh, for their part, never talks about freeing Jerusalem. It’s always about Mecca and Medina.
  • Paul Merrell on 10 Nov 15
     
    Pepe Escobar brings us up to speed on big changes in the Mideast, including the decline of U.S. influence. Not mentioned, but the Saudis' feelings of desertion by the Washington Beltway and its foreplay with Russia could bring about an end to the Saudis insistence on being paid for oil in U.S. dollars, and there goes the western economy. 
Paul Merrell

Saudi Arabia is on the Brink of Regime Change - nsnbc international | nsnbc international - 0 views

nsnbc.me/...-on-the-brink-of-regime-change

saudis succession

shared by Paul Merrell on 25 Jan 16 - No Cached
  • It seems that Saudi Arabia has started to undergo the transformation various experts predicted. Those became obvious when the sitting king Salman bin Abdulaziz Al Saud replaced his deceased elder brother Abdullah bin Abdulaziz Al Saud in January 2015, and made a number of quite unusual arrangements within the ruling elite, appointing the head of the Ministry of Interior Muhammad bin Nayef from Abdullah’s clan the Crown Prince, while his 33-year-old son Mohammad bin Salman Al Saudfrom the Sudairy clan received the appointment of Deputy Crown Prince.
  • Now it seems that the wheels of the political machine are moving again. Last week reports from Riyadh indicated that his disease is taking a toll on the king and he wants to renounce his reign in favor of the Crown Prince. But then neighboring states, especially Qatar and the United Arab Emirates, started hinting that the members of the Saudi royal family along with the sheikhs of the strongest tribes, which are the foundation of Al Saud’s rule, are extremely dissatisfied with the sharp deterioration of the economic and social situation in the country, leading to a major drop in their personal incomes. It is no secret that Riyadh increased the volume of oil production to weaken the positions of its main competitors – Russia, Iran and Venezuela. But the kingdom had to take a punch as well, it was forced to unseal its reserve fund and cut the funding of numerous social programs.
  • Now the highly respected Institute for Gulf Affairs is stating that the king of Saudi Arabia Salman bin Abdulaziz Al Saud is preparing to renounce the throne in favor of his son Mohammad bin Salman Al Saud, and has since brought his country to the brink of a disaster. It means that the 80-year-old Salman is trying desperately hard to persuade his brothers on the succession board to allow him to change the principle of succession of the Saudi throne, since he’s ready to leave, but not so ready for his nephew Mohammad bin Salman Al Saud to rule the country. What the king has been doing is allegedly done “only for the sake of the stability of the kingdom.” Although the reality of the situation is clear – should Salman retain his position, the disintegration of the kingdom is imminent, with certain Shia areas breaking away, while the regions on the border with Yemen which are mostly populated by Yemeni tribes, more than happy to return home. Moreover, the Minister of Interior used to be a habitual cocaine user, so he was only able to “produce” two daughters, and now he’s somewhat incapable of producing more children. Should the king manage to carry out the above described scheme, he will become the first Saudi monarch to leave the throne to his son.
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  • And the fact that there’s a growing crisis in Saudi Arabia was evident from the cuts in subsidies and bonuses that king Salman started at the beginning of this year to reduce the country’s total dependence on oil. After decades of extensive use of oil revenues to subsidize companies’ payment of generous salaries and providing enormous social benefits, falling oil prices struck Saudi Arabia at its heart. It’s enough to say that revenues from oil exports in 2015 alone dropped by half. Ultimately it’s hard to say which country suffers the most from these oil wars – Russia or Saudi Arabia, since the latter has virtually no other sectors to support the economy. Saudi economist Turki Fadaak believes that Saudi Arabia is exiting the policy of “universal welfare”, so there’s an ongoing psychological shift in the minds of the ruling elite of the state. Fadaak is convinced that the ultimate aim of king Salman’s measures is to eliminate the Saudi dependency on oil. But is it really? According to leading international experts – the answer is a resounding “no”, with all the arguments to the contrary nothing more than fantasy.
  • Although initially it seemed that Salman, who came to power after the death of his brother, King Abdullah, will continue his course, after assuming the throne Salman generously spent over 30 billion dollars from the budget on bonuses for civil servants, military personnel, and students. Additionally, prices for basic goods and services, including fuel, electricity and water prices were kept at extremely low levels due to government subsidies from oil revenues. However, due to falling oil prices, under the pressure of such costs the budget started to rupture. The most important thing now for the kingdom is to execute the transition from the extremely lavish social security system to a productive economy, but then the subjects of the king will be forced to cut their costs, and it looks that they do not agree with this notion. And accusations in the imminent economic collapse will go Salman’s way, so it is better for him to leave now, before protests even start.
  • It is curious that Saudi Arabia has been rather realistic about its budget for the year 2016, since it was based on the average price of oil keeping at the level 29 dollars per barrel. Last year, the Saudi budget deficit amounted to almost 98 billion dollars and the costs were considerably higher than it was originally planed due to bonuses for civil servants, military personnel and retirees. In 2016 the authorities decided to put up to 49 billion dollars into a special fund to provide funding for the most important projects in case oil prices drop even further. But it was Saudi Arabia back in 2014 that proposed new tactics for OPEC, that implied that there would be no cuts in the level of production, the tactics that drove oil prices to today’s levels. So we are to learn pretty soon should Riyadh choose the path of the utter and complete collapse of the kingdom, or the path of giving power to the young and pragmatic technocrats who are going to pursue a comprehensive oil policy. Either way, Saudi Arabia will be forced to put an end to the costly military adventures in Syria and Yemen as well as its confrontations with Russia and Iran.
Paul Merrell

Turkey's Failed Syria Policy Collapses Tourist Industry, 1,300 Hotels Go On Sale - 0 views

www.mintpressnews.com/...213337

war & peace Turkey economy tourism

shared by Paul Merrell on 03 Feb 16 - No Cached
  • With over 400 hotels for sale in the tourist capital Antalya, Turkey’s tourist industry has descended into one of its worst crises in history after the number of Russian tourists visiting the country dwindled and increasing terrorist attacks left the country’s security weakened, the Turkish Zaman newspaper reported. Turkey is facing a shortfall of nearly 4.5 million Russian tourists this year, causing Turkey’s tourism industry to miss out on some $4.5 billion in lost revenues, according to Aegean Touristic Enterprises and Lodging Association (ETHICS) Chairman Mehmet Isler, as quoted by the newspaper. European tourists, mainly from Germany, have changed their preferences to Greek resorts, he added, citing the “propaganda” of the recent terrorist attacks in Turkey as covered by the European media as the reason for this trend. A large number of hotels and companies operating in the tourist sector face mounting debt problems, with the fallout from the Russian Su-24 incident driving hotel owners to sell their property, real estate agent Ismail Ozer said, according to the report.
  • Relations between Ankara and Moscow deteriorated after Turkey downed a Russian Su-24 jet, which was deployed in an anti-terrorist operation in Syria, over an alleged violation of Turkish airspace on November 24. Moscow refuted the claims of an airspace violation and imposed anti-Turkish economic measures, which included a ban on the sale of Turkish tour-packages. In early January, an explosion occurred on a central square in Istanbul’s historical city center. At least 10 German tourists were killed, while 17 people were injured. In October 2015, twin blasts rocked Turkey’s capital Ankara, killing over 100 people and injuring over 400. The attack has been linked to Islamist terrorist groups.
Gary Edwards

Stopping America's Federal Debt Explosion by Martin Feldstein - Project Syndicate - 0 views

www.project-syndicate.org/...on-by-martin-feldstein-2016-02

martin-feldstein National-debt Banksters

shared by Gary Edwards on 27 Feb 16 - No Cached
  • the fiscal deficit is the most serious long-term economic problem facing US policymakers.
  • A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that’s just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%.
  • The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects.
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  • the time will come when the US will have to pay the interest by exporting more goods and services than it imports. And boosting net exports will require a weaker dollar to make US products more attractive to foreign buyers and foreign goods more expensive to US buyers, implying a loss in Americans’ standard of living.
  • Increased borrowing by the federal government also means crowding out the private sector. Lower borrowing and capital investment by firms reduces future productivity growth and growth in real incomes.
  • Federal taxes now take 18.3% of GDP and are projected to remain at that level for the next decade, unless tax rules or rates are changed. The rate structure for personal taxation has changed over the past 30 years, with the top tax rate rising from 28% in 1986 to more than 40% now. The corporate rate of 35% is already the highest in the industrial world.
  • Gary Edwards on 27 Feb 16
     
    "CAMBRIDGE - The US Congressional Budget Office (CBO) has just delivered the bad news that the national debt is now rising faster than GDP and heading toward ratios that we usually associate with Italy or Spain. That confirms my view that the fiscal deficit is the most serious long-term economic problem facing US policymakers. A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that's just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%. Support Project Syndicate's mission Project Syndicate needs your help to provide readers everywhere equal access to the ideas and debates shaping their lives. LEARN MORE Even that projection assumes that interest rates on the national debt will rise slowly, averaging less than 3.5% in 2026. But if the US debt ratio really is on the fast track to triple-digit levels, investors in the US and abroad may rightly fear that the government has lost control of the budget process. With debt exploding, foreign bondholders could begin to worry that the US will find a way to reduce its real value by stoking inflation or imposing a withholding tax on all government bond interest. In that case, investors will insist on a risk premium: higher interest rates on Treasury debt. Higher interest rates, in turn, would increase the deficit - and thus the future level of the debt ratio - even more. The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects. Foreign investors now own more than half of net government debt, and
Paul Merrell

Who owns space? US asteroid-mining act is dangerous and potentially illegal - 0 views

theconversation.com/-and-potentially-illegal-51073

space-exploitation Congress Space Act of 2015

shared by Paul Merrell on 25 Nov 15 - No Cached
  • Nope, a flag is not enough to make the moon a colony.
  • An event of cosmic proportions occurred on November 18 when the US congress passed the Space Act of 2015 into law. The legislation will give US space firms the rights to own and sell natural resources they mine from bodies in space, including asteroids. Although the act, passed with bipartisan support, still requires President Obama’s signature, it is already the most significant salvo that has been fired in the ideological battle over ownership of the cosmos. It goes against a number of treaties and international customary law which already apply to the entire universe. The new law is nothing but a classic rendition of the “he who dares wins” philosophy of the Wild West. The act will also allow the private sector to make space innovations without regulatory oversight during an eight-year period and protect spaceflight participants from financial ruin. Surely, this will see private firms begin to incorporate the mining of asteroids into their investment plans.
  • Supporters argue that the US Space Act is a bold statement that finally sets private spaceflight free from the heavy regulation of the US government. The misdiagnosis begins here. Space exploration is a universal activity and therefore requires international regulation. The act represents a full-frontal attack on settled principles of space law which are based on two basic principles: the right of states to scientific exploration of outer space and its celestial bodies and the prevention of unilateral and unbriddled commercial exploitation of outer-space resources. These principles are found in agreements including the Outer Space Treaty of 1967 and the Moon Agreement of 1979. The US House Committee on Science, Space and Technology denies there is anything in the act which violates the US’s international obligations. According to this body, the right to extract and use resources from celestial bodies “is affirmed by State practice and by the US State Department in Congressional testimony and written correspondence”. Crucially, there is no specific reference to international law in this statement. Simply relying on US legislation and policy statements to justify the plans is obviously insufficient.
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  • Gbenga Oduntan is the author of Sovereignty and Jurisdiction in Airspace and Outer Space: Legal Criteria for Spatial Delimitation. London: Routledge-Cavendish 2012. https://www.routledge.com/products/9780415562126
  • Ever since NASA discovered signs of liquid water on Mars, concerns have been raised about the risk of contaminating the red planet.
  • So what’s at stake? We can assume that the list of states that have access to outer space – currently a dozen or so – will grow. These states may also shortly respond with mining programmes of their own. That means that the pristine conditions of the cradle of nature from which our own Earth was born may become irrevocably altered forever – making it harder to trace how we came into being. Similarly, if we started contaminating celestial bodies with microbes from Earth, it could ruin our chances of ever finding alien life there. Mining minerals in space could also damage the environment around the Earth and eventually lead to conflict over resources. Indeed what right has the second highest polluter of the Earth’s environment got to proceed with some of the same corporations in a bid to plunder outer space? While we’re not there yet, developments towards actual space mining may begin to occur within a decade.
  • Ultimately, the US plans must be understood in the light of existing rules of space law. Money is not a dirty word in space – the total value of the satellite telecommunications industry in 2013 was more than $195bn. Free market principles also apply to the operations of the International Space Station. So, let’s get down to the nitty-gritty.
  • Currently corporations can exploit outer space in a number of ways, including for space tourism and scientific training. Companies may also be allowed to extract certain resources, but the very first provision of the Outer Space Treaty (1967), to which the US is a signatory, is that such exploration and use shall be carried out for the benefit and in the interests of all countries. This therefore prevents the sale of space-based minerals for profit. The treaty also states that outer space shall be the “province of all mankind … and that states shall avoid harmful contamination of space". Meanwhile, the Moon Agreement (1979) has in effect forbidden states to conduct commercial mining on planets and asteroids until there is an international regime for such exploitation. While the US has refused to sign up to this, it is binding as customary international law. The idea that American companies can on the basis of domestic laws alone systematically exploit mineral resources in space, despite huge environmental risks, really amounts to the audacity of greed. The Romans had this all correctly figured out in their legal maxim: “What concerns all must be decided upon by all.”
Paul Merrell

Does Our Military Know Something We Don't About Global Warming? - Forbes - 0 views

www.forbes.com/...g-we-dont-about-global-warming

climate-change preparations DoD

shared by Paul Merrell on 27 Oct 15 - No Cached
  • Every branch of the United States Military is worried about climate change. They have been since well before it became controversial. In the wake of an historic climate change agreement between President Obama and President Xi Jinping in China this week (Brookings), the military’s perspective is significant in how it views climate effects on emerging military conflicts.
  • At a time when Presidents Ronald Reagan and Bush 41, and even British Prime Minister Margaret Thatcher, called for binding international protocols to control greenhouse gas emissions, the U.S. Military was seriously studying global warming in order to determine what actions they could take to prepare for the change in threats that our military will face in the future. The Center for Naval Analysis has had its Military Advisory Board examining the national security implications of climate change for many years. Lead by Army General Paul Kern, the Military Advisory Board is a group of 16 retired flag-level officers from all branches of the Service. This is not a group normally considered to be liberal activists and fear-mongers.
  • This year, the Military Advisory Board came out with a new report, called National Security and the Accelerating Risks of Climate Change, that is a serious discussion about what the military sees as the threats and the actions to be taken to mitigate them. “The potential security ramifications of global climate change should be serving as catalysts for cooperation and change. Instead, climate change impacts are already accelerating instability in vulnerable areas of the world and are serving as catalysts for conflict.”
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  • Bill Pennell, former Director of the Atmospheric Sciences and Global Change Division at Pacific Northwest National Laboratory, summed up the threat in recent discussions about climate and national security: “The environmental consequences of climate change are a significant threat multiplier, which by itself, can be a cause for future conflicts. Global warming will affect military operations as well as its theaters of operations. And it poses significant risks and costs to military and civilian infrastructure, especially those facilities located on the coastline.” “The countries and regions posing the greatest security threats to the United States are among those most susceptible to the adverse and destabilizing effects of climate change. Many of these countries are already unstable and have little economic or social capital for coping with additional disruptions.” “Whether in Africa, the Middle East, South Asia, or North Korea, we are already seeing how extreme weather events – such as droughts and flooding and the food shortages and population dislocations that accompany them – can destabilize governments and lead to conflict. For example, one trigger of the chaos in Syria has been the multi-year drought the country has experienced since 2006 and the Assad Regime’s ineptitude in dealing with it.”
  • So why is the country as a whole, and those who normally support our military, so loathe to prepare for possible threats from this direction? In 1990, Eugene Skolnikoff summarized the national policy issues surrounding global warming and why it has been so difficult to rationally develop policy to address it. “The central problem is that outside the security sector, policy processes confronting issues with substantial uncertainty do not normally yield policy that has high economic or political costs. This is especially true when the uncertainty extends not only to the issues themselves, but also to the measures to avert them or deal with their consequences.” “The climate change issue illustrates – in fact exaggerates – all the elements of this central problem. Indeed, no major action is likely to be taken until those uncertainties are substantially reduced, and probably not before evidence of warming and its effects are actually visible. Unfortunately, any increase in temperature will be irreversible by the time the danger becomes obvious enough to permit political action.” And this was in 1990!
  • As Arctic ice diminishes, the region will see new shipping routes, new energy zones, new fisheries, new tourism and new sources of conflict not covered by existing maritime treaties. Since the United States is not party to the United Nations Convention on the Law of the Sea (UNCLOS) treaty, we will not have maximum operating flexibility in the Arctic. Even seemingly small administrative issues may become important in the new era, e.g., the Unified Command Plan presently splits Arctic responsibility between two Combatant Commands: U.S. Northern Command (NORTHCOM) and U.S. European Command (EUCOM). This type of things needs to be resolved with the coming global changes in mind. Source: Center for Naval Analysis
Paul Merrell

Leaked Audio Reveals Venezuelan Opposition in Secret Talks with IMF | venezuelanalysis.com - 0 views

venezuelanalysis.com/11581

war & peace U.S.-foreign-policy Venezuela IMF coup-attempts oligarchs

shared by Paul Merrell on 21 Oct 15 - No Cached
  • A leaked audio of a conversation between Venezuelan businessman, Lorenzo Mendoza, and former politician, Ricardo Hausman, has revealed Venezuela’s political and business opposition to be seeking collaboration with the IMF (International Monetary Fund) ahead of the country’s parliamentary elections on December 6th. In the phone conversation, leaked in Venezuela last Wednesday, both men speak about the possibility of IMF intervention in the Venezuelan economy and frequently refer to each other as “mate”.   Mendoza currently ranks as one the wealthiest businessmen in the world and controls key areas of the Venezuelan economy, such as the production of cornflour, beer and other household staples. Government supporters hold him responsible for the widespread shortage of key products, which they say is an attempt to destabilise the administration of current leftwing President Nicolas Maduro.   Hausman was formerly Planning Minister (1992-1993) to disgraced ex-Venezuelan President president, Carlos Andres Perez. He currently resides in the US where he is a lecturer at the Kennedy School of Government at Harvard University. 
  • The recording has caused shockwaves amongst Venezuela’s citizens, who have widely rejected any IMF involvement in the country’s economics. The fund is largely held responsible by citizens for the country’s debt crisis in the 1980s, the economic turmoil of the 1990s, as well as for the riots known as the Caracazo in 1989 which led to widespread police repression and thousands of killings.  The IMF’s poisonous legacy in the country has led the country’s political opposition to distance itself publicly from the organisation. Nonetheless, its spokespeople have been consistently linked to the ill reputed fund over the past fifteen years of leftist government.  Earlier in February 2015, the political opposition led by Leopoldo Lopez, Maria Corina Machado and Antonio Ledezma, released a “Call for a National Transition Agreement” just days before the national government reported that it had uncovered plans for an attempted coup amongst the airforce.  “The Call for a National Transition” contained a number of points orientating the politics of a transitional regime in Venezuela, including selling off national public enterprises and the input of “international financial organisations”. 
  • In the audio, which is dominated by Hausman, the ex-minister reveals that he is a longterm friend of the IMF’s Vice-president for the Western Hemisphere, who has asked him to go to the organisation to “talk about Venezuela”. He explains that the fund is “worried” that it will have to “intervene” in the country.   “The condition is that we have a small committee meeting to speak, gloves off, about what the hell we can do to see… Or, if you were to receive a call from Obama or Holland, or whoever and they say… Hell, mate, for us it’s really important that they get involved in Venezuela,” says Hausman.  The economist also assures Mendoza that he is committed to the “war in Venezuela” despite his absence, stating that “there is no exit for Venezuela without substantial international help,” appearing to reference the opposition’s violent street campaign to unseat the government last year, entitled La Salida (the exit).  Specifically Hausman recommends a 40-50 billion dollar loan from the IMF, which he says will entail a significant restructure of the country’s “debt profile” and “what they euphemistically term, private sector involvement”. The two men also reference a group of Hausman’s students in the US, who appear to have been pinned by both men to carry out the economic restructuring in a post-Chavista government.  The conversation finishes with Hausman revealing that he has “projects” in Colombia, Mexico, Peru and Albania, and confirming that the time is right for “carrying out an adjustment plan in Venezuela”. 
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  • After the government publicly released the recording between Hausman and Mendoza last week, Venezuelan President Nicolas Maduro accused the opposition of once again seeking financial support from the IMF in order to promote “insurrectionary violence” in the country.  “I have proof that the IMF has received a visit from a group of technocrats… who have requested 60 billion dollars in order to put their plan into action, and the fund has told them that they will give them [the money] if they unseat the government,” stated the president on his weekly television show, In Contact with Maduro.  Although Maduro has yet to reveal evidence, Mendoza at least seems to have corroborated the authenticity of the phone conversation, which he has slammed as an “illegal” recording of a “private talk” that he had with Hausman.  Maduro has called for Mendoza to be prosecuted.  “I hope the judicial bodies react,” he stated. 
Paul Merrell

Israel Grants Oil Rights in Syria to Murdoch and Rothschild - Craig Murray - 0 views

www.craigmurray.org.uk/...yria-to-murdoch-and-rothschild

war & peace Israel Golan-Heights oil Genie-Energy

shared by Paul Merrell on 31 Mar 16 - No Cached
  • srael has granted oil exploration rights inside Syria, in the occupied Golan Heights, to Genie Energy. Major shareholders of Genie Energy – which also has interests in shale gas in the United States and shale oil in Israel – include Rupert Murdoch and Lord Jacob Rothschild. This from a 2010 Genie Energy press release: Claude Pupkin, CEO of Genie Oil and Gas, commented, “Genie’s success will ultimately depend, in part, on access to the expertise of the oil and gas industry and to the financial markets. Jacob Rothschild and Rupert Murdoch are extremely well regarded by and connected to leaders in these sectors. Their guidance and participation will prove invaluable.” “I am grateful to Howard Jonas and IDT for the opportunity to invest in this important initiative,” Lord Rothschild said. “Rupert Murdoch’s extraordinary achievements speak for themselves and we are very pleased he has agreed to be our partner. Genie Energy is making good technological progress to tap the world’s substantial oil shale deposits which could transform the future prospects of Israel, the Middle East and our allies around the world.” For Israel to seek to exploit mineral reserves in the occupied Golan Heights is plainly illegal in international law. Japan was succesfully sued by Singapore before the International Court of Justice for exploitation of Singapore’s oil resources during the second world war. The argument has been made in international law that an occupying power is entitled to opeate oil wells which were previously functioning and operated by the sovereign power, in whose position the occupying power now stands. But there is absolutely no disagreement in the authorities and case law that the drilling of new wells – let alone fracking – by an occupying power is illegal.
  • Israel tried to make the same move twenty years ago but was forced to back down after a strong reaction from the Syrian government, which gained diplomatic support from the United States. Israel is now seeking to take advantage of the weakened Syrian state; this move perhaps casts a new light on recent Israeli bombings in Syria. In a rational world, the involvement of Rothschild and Murdoch in this international criminal activity would show them not to be fit and proper persons to hold major commercial interests elsewhere, and action would be taken. Naturally, nothing of the kind will happen.
  • Paul Merrell on 31 Mar 16
     
    From Wikipedia: "Genie Energy's Strategic advisory board is composed of: Dick Cheney (former vice president of the United States), Jacob Rothschild, 4th Baron Rothschild, Rupert Murdoch (media mogul and chairman of News Corp), James Woolsey (former CIA director), Larry Summers (former head of the US Treasury), and Bill Richardson, an ex-ambassador to the United Nations and energy secretary."
Paul Merrell

US Intel Officials Made Secret Trip To Damascus For Talks With Assad Advisor | Zero Hedge - 0 views

www.zerohedge.com/...ip-damascus-secret-talks-assad

war & peace U.S.-foreign-policy Syria withdrawal oil

shared by Paul Merrell on 30 Aug 18 - No Cached
  • euters has confirmed a bombshell report which first surfaced Tuesday in Lebanese media saying that a high level delegation of US intelligence officials made a secret visit to Damascus in June to meet with President Bashar al-Assad's most trusted senior advisor, Ali Mamlouk, who serves as Syria's top security chief.  The meeting, which took place near Damascus international airport, was first revealed by the Lebanese daily al-Akhbar, which reported it as lasting up to four hours and part of an ongoing secret back-channel dialogue. Such talks are unprecedented for the fact that the two countries haven't had such direct dealings since near the start of the conflict in 2011, and the United States and its allies have bombed Syrian government forces and locations multiple times over the past years. 
  • The Al-Akhbar report provided the following details regarding US demands, according to an English translation provided by Syriana Analysis: The American side made a clear and specific offer: The United States is ready to withdraw its troops completely from Syrian territory, including the Al-Tanf and Eastern Euphrates according to security arrangements supervised by the Russian and Syrian armies. In exchange for three US demands: First, Iran’s full withdrawal from the Syrian south. Second, to obtain written guarantees that give US companies a share of the oil sector in the regions of eastern Syria. Third, the Syrian side to provide the Americans with full data of the terrorist groups and their members, including the numbers of foreign fighter deaths of these groups and those who survived, and those may return to Western countries, considering that the terrorist threat is intercontinental. And what we can get, serve the international security And the Syrian delegation's response according to Reuters was as follows: "Mamlouk said Damascus would not cooperate with Washington on security issues until they had normalized ties and he also demanded a complete withdrawal of U.S. forces from Syria, al-Akhbar reported."
  • Paul Merrell on 30 Aug 18
     
    Uhhh ... I thought we were supposed to be there to fight ISIL?
Paul Merrell

"Thank God This Is Happening": Russia Says Time Has Come To Ditch The Dollar | Zero Hedge - 0 views

www.zerohedge.com/...ays-time-has-come-ditch-dollar

war & peace economic-warfare de-dollarization Russia Turkey Iran China

shared by Paul Merrell on 30 Aug 18 - No Cached
  • With the US unveiling a new set of sanctions against Russia on Friday, Moscow said it would definitely respond to Washington’s latest sanctions and, in particular, it is accelerating efforts to abandon the American currency in trade transactions, said Russia's Deputy Foreign Minister Sergei Ryabkov. "The time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives," he said in an interview with International Affairs magazine, quoted by RT. "Thank God, this is happening, and we will speed up this work,” Ryabkov said, explaining the move would come in addition to other “retaliatory measures” as a response to a growing list of US sanctions. Previously, Russian Energy Minister Aleksandr Novak said that a growing number of countries are interested in replacing the dollar as a medium in global oil trades and other transactions. “There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties,” Novak said.
  • According to the minister, it concerns both Turkey and Iran, with more countries likely to join the growing dedollarization wave. “We are considering an option of payment in national currencies with them. This requires certain adjustments in the financial, economic, and banking sectors” to accomplish. Last week, we reported that the Kremlin was interested in trading with Ankara using the Russian ruble and the Turkish lira. India has also vowed to pay for Iranian oil in rupees. Meanwhile, the world’s second-largest economy and Washington's trade war nemesis, China, has been taking steps to challenge the greenback's dominance with the launch of an oil futures contract backed by Chinese currency, the petro-yuan. China and Iran have already agreed to stop using the dollar in global trade as China has ramped up purchases of Iranian oil in defiance of US sanctions.
Paul Merrell

Robots and artificial intelligence will take over HALF of all tasks in the workplace by... - 0 views

www.dailymail.co.uk/...half-workplace-tasks-2025.html

economy automation robots AI

shared by Paul Merrell on 20 Sep 18 - No Cached
  • More than half of all tasks in the workplace tasks will be carried out by machines by 2025.That's according to the World Economic Forum, which predicts that AI and robots will kill off 75 million jobs worldwide by 2022.The Swiss nonprofit also claims as many as 133 million new jobs will be created by machines in that time frame.Humans will have to revamp skills to keep pace with the 'seismic shift' in how we work with machines, it said.
  • The research foresees robots swiftly replacing humans in the accounting, client management, industrial, postal and secretarial sectors.Jobs that require 'human skills' such as sales, marketing and customer service should see demand increase meanwhile, along with e-commerce and social media.
Paul Merrell

DOD, HUD Defrauded Taxpayers Of $21 Trillion From 1998 To 2015 - 0 views

www.mintpressnews.com/...232905

corruption DoD HUD audit missing-funds

shared by Paul Merrell on 07 Oct 17 - No Cached
  • Last year, a Reuters article brought renewed scrutiny to the budgeting practices of the U.S. Department of Defense (DOD), specifically the U.S. Army, after it was revealed that the department  had “lost” $6.5 trillion in 2015 due to “wrongful budget adjustments.” Nearly half of that massive sum, $2.8 trillion, was lost in just one quarter. Reuters noted that the Army “lacked the receipts and invoices to support those numbers [the adjustments] or simply made them up” in order to “create an illusion that its books are balanced.” Officially, the DOD has acknowledged that its financial statements for 2015 were “materially misstated.” However, this was hardly the first time the department had been caught falsifying its accounting or the first time the department had mishandled massive sums of taxpayer money.
  • The report, which examined in great detail the budgets of both the DOD and the Department of Housing and Urban Development (HUD), found that between 1998 and 2015 these two departments alone lost over $21 trillion in taxpayer funds. The funds lost were a direct result of “unsupported journal voucher adjustments” made to the departments’ budgets. According to the Office of the Comptroller, “unsupported journal voucher adjustments” are defined as “summary-level accounting adjustments made when balances between systems cannot be reconciled. Often these journal vouchers are unsupported, meaning they lack supporting documentation to justify the adjustment [receipts, etc.] or are not tied to specific accounting transactions.” The report notes that, in both the private and public sectors, the presence of such adjustments is considered “a red flag” for potential fraud. The amount of money lost is truly staggering. As co-author Fitts noted in an interview with USA Watchdog, the amount unaccounted for over this 17 year period amounts to “$65,000 for every man, woman and child resident in America.” By comparison, the cost per taxpayer of all U.S. wars waged since 9/11 has been $7,500 per taxpayer. The sum is also enough to cover the entire U.S. national debt, which broke $20 trillion less than a month ago, and still have funds left over. What’s more, the actual amount of funds lost — measured at $21 trillion – is likely to be much higher, as the researchers were unable to recover data for every year over the period, meaning the assessment is incomplete.
Paul Merrell

Support for Palestinians triples among US youth, survey finds | The Electronic Intifada - 0 views

electronicintifada.net/...es-among-us-youth-survey-finds

war & peace U.S.-foreign-policy Israel Palestine polls

shared by Paul Merrell on 08 Oct 16 - No Cached
  • But dig deeper into the findings and it is apparent that Israel’s support is eroding in key sectors of the US population. Virtually all of the increase in sympathy for Palestinians “has come among Democrats, especially liberal Democrats,” Pew states.
  • The number of liberal Democrats sympathizing more with the Palestinians has nearly doubled over the past two years, from 21 to 40 percent. And within the Democratic Party, it is clear that Hillary Clinton is the candidate of the more pro-Israel wing: 47 percent of her supporters say they sympathize with Israel more, while 27 percent lean toward the Palestinians. Among the supporters of Vermont Senator Bernie Sanders, however, a plurality – 39 percent – are more favorable to the Palestinians, while just a third stand with Israel.
  • Clinton’s backers are clearly more pro-Israel, but it is still remarkable to note that this group is under 50 percent – an indication of how much opinions about Palestine and the Israeli question are shifting within the support base of the Democratic Party. The Pew survey confirms the extent to which Israel has become a partisan issue. Overall, just 43 percent of Democrats are more sympathetic to Israel, while 29 percent back the Palestinians. In contrast to the Democrats, “overwhelming shares of [Republican] voters side with Israel, regardless of which candidate they support,” Pew states. Republican support for Israel – at around 75 percent – varied little among supporters of former presidential candidates Texas Senator Ted Cruz and Ohio Governor John Kasich compared with those of presumptive nominee Donald Trump. Just seven percent of Republicans were more favorable to the Palestinians. “We’ve been tracking this question since the 1970s and this gap is relatively new, of Republicans being more sympathetic to Israel than Democrats,” Carroll Doherty, Pew’s director of research, told NPR’s Morning Edition on Thurdsay. “The gap is now as wide as we’ve ever seen it – it’s almost 35 percentage points.”
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  • The findings also confirm that support for the Palestinians is rising fastest among the young – the so-called Millennials born after 1980. “Currently, 43 percent of Millennials report sympathizing more with Israel, while 27 percent are more sympathetic to the Palestinians,” Pew states. “The share sympathizing with the Palestinians has risen significantly in recent years, from nine percent in 2006 to 20 percent in July 2014 to 27 percent today” – in other words it has tripled.
  • These findings bode well for supporters of Palestinian rights. Hillary Clinton, the Democratic frontrunner for her party’s presidential nomination, has adopted some of the most extreme anti-Palestinian rhetoric heard in recent years. This may work well with her generally older supporters, with pro-Israel billionaires who bankroll her campaign, as well as with Republican voters she will be hoping to lure if she faces Trump in the general election, but the numbers show she’s more out of step than ever with her own party’s base. Her repeated denunciations of BDS – boycott, divestment and sanctions – are likely to alienate even more of the younger generation who believe that fighting for social justice everywhere includes Palestine. Whatever happens in the 2016 presidential election, the United States has never been more fertile ground to build support for Palestinian rights.
Paul Merrell

As Wall Street Sinks Global Markets, China's Economic Policies Build Independence & Imm... - 0 views

www.mintpressnews.com/...237608

war & peace China economy

shared by Paul Merrell on 15 Feb 18 - No Cached
  • The recent economic “correction” in the U.S. markets, which saw stocks drop back down from recent record-highs, has begun to spread to the east, reaching the stock exchanges in Tokyo, Taiwan and Shanghai. While all three of these markets depend, to some extent, on the performance of Wall Street, one is likely to emerge stronger as the U.S. market corrects itself. Many Western economic analysts — such as those at the pillar of U.S. financial journalism, Bloomberg — have continued to predict future financial downturns would be caused by Chinese debt, or the country’s massive “shadow” economy (or, more specifically, low level loans that aren’t tightly regulated by the central government). This latest downturn, however, shows once again that Wall Street is still the primary factor in sinking global markets. China has been faced with — and continued to grow throughout — a previous U.S.-triggered global recession just under a decade ago. While the current condition of the markets is nothing like the end of 2008, there is still the same fear in the West that China is somehow on the brink of catastrophe. Yet China pulled through the Great Recession, despite a huge decrease in demand for Chinese export goods. Beijing presided over GDP growth only falling below 8 percent in the last quarter of 2008 and first of 2009 and made a faster recovery than any Western nation.
  • China is obviously in a position much different now from that of 2008. Now — as a clear competitor with the U.S. in key economic sectors such as cutting-edge technology, and playing a unifying role for a large portion of the global population — Beijing is making even more major domestic economic reforms and preparing to project its new prosperity outward. In order to better understand how China is likely not just to survive any fluctuations in the U.S. market but also to thrive, it is best to understand both how China managed to recover from the last recession faster than any other country and the new economic policies of President Xi Jinping, which will harness the power of the world’s largest planned economy in its march into the future.
Paul Merrell

Richest One Percent Bagged 82 Percent of Global Wealth - Poorest Half of Humanity Got N... - 0 views

www.globalresearch.ca/...5626929

global-economy wealth-transfer income-inequality

shared by Paul Merrell on 26 Jan 18 - No Cached
  • Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today.  The report is being launched as political and business elites gather for the World Economic Forum in Davos, Switzerland. ‘Reward Work, Not Wealth’ reveals how the global economy enables a wealthy elite to accumulate vast fortunes while hundreds of millions of people are struggling to survive on poverty pay. Billionaire wealth has risen by an annual average of 13 percent since 2010 – six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2 percent. The number of billionaires rose at an unprecedented rate of one every two days between March 2016 and March 2017. It takes just four days for a CEO from one of the top five global fashion brands to earn what a Bangladeshi garment worker will earn in her lifetime. In the US, it takes slightly over one working day for a CEO to earn what an ordinary worker makes in a year. It would cost $2.2 billion a year to increase the wages of all 2.5 million Vietnamese garment workers to a living wage. This is about a third of the amount paid out to wealthy shareholders by the top 5 companies in the garment sector in 2016.
Paul Merrell

For most Americans, real wages have barely budged for decades | Pew Research Center - 0 views

www.pewresearch.org/...have-barely-budged-for-decades

wages stats economy income-inequality

shared by Paul Merrell on 02 Oct 19 - No Cached
  • On the face of it, these should be heady times for American workers. U.S. unemployment is as low as it’s been in nearly two decades (3.9% as of July) and the nation’s private-sector employers have been adding jobs for 101 straight months – 19.5 million since the Great Recession-related cuts finally abated in early 2010, and 1.5 million just since the beginning of the year. But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.
  • The disconnect between the job market and workers’ paychecks has fueled much of the recent activism in states and cities around raising minimum wages, and it also has become a factor in at least some of this year’s congressional campaigns.
  • After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today.
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