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Home/ Socialism and the End of the American Dream/ Contents contributed and discussions participated by Gary Edwards

Contents contributed and discussions participated by Gary Edwards

Gary Edwards

ANALYSIS: Chipotle is a victim of corporate sabotage... biotech industry food terrorist... - 1 views

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    "(NaturalNews) After observing recent events involving Chipotle and e.coli, here's my analysis of the situation: Chipotle's e.coli outbreaks are not random chance. They are the result of the biotech industry unleashing bioterrorism attacks against the only fast food company that has publicly denounced GMOs. How do we know? The CDC has already admitted that some of these e.coli outbreaks involve a "rare genetic strain" of e.coli not normally seen in foods. Furthermore, we also know the track record of the biotech industry engaging in the most criminal, dirty, sleazebag tactics imaginable against any person or company that speaks out against GMOs. Doctor Oz, for example, was maliciously targeted in a defamation campaign funded by the biotech industry earlier this year. The onslaught against Oz was initiated because he publicly expressed his support for honest GMO labeling on foods. As the attacks escalated, Doctor Oz had his own team investigate the source of the attacks and found they were all biotech industry shills, some with felony criminal records and long histories of dubious propaganda activities targeting anti-GMO activists. "
Gary Edwards

Chinese agency bans online mention of Panama Papers - CNET - 0 views

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    "China is flexing its censorship muscles yet again, banning any online mention of the widely publicized Panama Papers. A government agency sent an order to media groups to "find and delete reprinted reports of the Panama Papers. Do not follow up on related content, no exceptions," according to the China Digital Times. "If material from foreign media attacking China is found on any website, it will be dealt with severely." The Panama Papers refer to 2.6 terabytes of information published online Sunday after a yearlong investigation by the International Consortium of Investigative Journalists, a German newspaper and other news groups. The more than 11 million legal and financial records were stolen from Panama-based law firm Mossack Fonseca's servers. They focus on 140 politicians and public officials worldwide with previously undisclosed involvement in or ownership of offshore financial havens. Relatives of eight current or former members of China's ruling party were implicated. MORE ON THE PANAMA PAPERS Panama Papers show no one's secrets safe Panama Papers leak claims its first victim The most significant findings among the Chinese officials were secret offshore activities linked to the family of Xi Jinping, the country's president. His brother-in-law, Deng Jiagui, was named. Xi assumed office in 2013 and has led a public charge against corruption in China. Also named were Li Xiaolin, daughter of former premier Li Peng, and Jasmine Li, granddaughter of former Standing Committee member Jia Qinglin. The Chinese agency also ordered that references be removed relating to money laundering of people associated with Russian President Vladamir Putin. The Global Times, a publication run by the Chinese government, posted an op-ed shortly after the leaks that implied the Panama Papers' information had been distorted to make countries like China and Russia look bad. The leaks have already made an impact, with Iceland Prime Minister Sigmundur David Gunnlaugsson resigni
Gary Edwards

Why Progressives Don't Understand And Are Enemies Of Liberty | Western Free Press - 0 views

  • For a classical liberal, freedom means that each individual possesses as a human being certain inviolable rights, those being rights to his life, liberty and honestly acquired property. And that human relationships should be based on voluntary consent and mutual agreement. For my interlocutor, freedom means “empowerment” or the ability to do or achieve certain things, without which “freedom” is not complete. These include a minimum or “decent” standard of living and the ability to attain certain potentials in life, which are everyone’s “right” as a member of society.
  • For my fellow conversationalist, society is a shared “community” of human beings each of whom owes certain things to the others, just as the others owe certain things to us. Society might be viewed as an extended family, from this perspective, all the members of which have certain required obligations to support and give assistance to their social “relatives.” I suggested that society is a network of human relationships formed between individuals based upon opportunities for mutual betterment, including both the economic and the cultural in the widest sense, the fundamental foundation of which derives from those essential individual rights.
  • French eighteenth century philosopher, Jean-Jacque Rousseau, who reasoned that man began as savages in the wild threatened by both beast and other men. Everyone entered into a social contract and formed society for mutual safety and betterment by giving up a portion of their complete and unrestrained “freedom” in that earlier setting of savagery for the order and security of shared community. The freedom given up is compensated by safety and the security of mutual aid, including the modern welfare state.
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  • British philosopher, John Locke, who argued that rights are not bestowed upon man by government or the community but belong to him by his nature as a human being. Government, in Locke’s social contract, is to provide individuals with a tool for the common defense against the violence of some of their fellow men. The role of government is the securer of liberty by protecting each individual’s rights to his life, liberty and property, and not as a guarantor of a certain standard of living or desired access to various material things.
  • The reason, I said, was that if the government undertook this latter responsibility of “social safety nets” and “positive” access to various other desired states of affairs, it can do so only by imposing through police power an obligation on others to provide the material means that some others are to be guaranteed. By doing so, government would be violating its original purpose for being brought into existence: the protecting of liberty (including people’s property rights to their own honestly earned income and wealth) rather than a violator that takes from some without their consent for the asserted benefits of others.
  • The world is to be reduced to and confined within a narrow corridor of forms of “good behavior” that people will be either penalized for violating or subsidized for doing through government regulation and spending.
  • Progressives Cling to Collectivism Here, in my opinion, are some of the essential issues and dilemmas facing the advocate of individual liberty, free markets, and constitutionally limited government. Too many of our fellow citizens do not believe that individuals have a right to live for themselves. They truly and honestly believe that “society,” “community,” the collective, is something independent of the distinct individuals who comprise it, and for which the individual is morally, politically and legally obligated to serve and sacrifice for. Police power is a legitimate and appropriate tool of enforcing these obligations and duties, if resistance or indifference is experienced among the citizens in the undertaking of these activities.
  • For the “progressive,” government is “society’s” agent to undertake the tasks of “social justice” and “entitlement” that are owed to each member and to which everyone is required to provide their contribution.  Police power is the means by which everyone is made to contribute their “social dues” in the form of either obedience to government regulations or payment of taxes for redistributive purposes.
  • Liberty and the Meaning of Society and the “Social” For the classical liberal or libertarian, on the other hand, government is considered an agency for the protection of each individual’s rights. “Society” is comprised of the networks of relationships and associations formed by individuals and in which they interact for various fulfillments of human happiness and well-being.
  • The purpose of government in the classical liberal or libertarian perspective is to assure the security and protection from private plunder and violence that would disrupt or disturb the peaceful pursuits that individuals find it useful and enjoyable and fulfilling to follow through various and diverse associations of civil society.
  • Furthermore, the interventionist-welfare state undermines people’s personal and financial ability to participate in those acts and associations of benevolence towards others that they are called by their conscience to pursue in the ways they consider best and most likely of success. The redistributive state arrogantly replaces each person’s personal judgment and decision with that of the self-appointing “experts” who claim to speak and know best for society through the coercive arm of government.
  • Matching these ethical issues of the rights of the individual to live and act peacefully for himself as he sees best, the “progressive” often demonstrates a blinding degree of ignorance and misinformation about the workings of a competitive market economy, the nature of the profit and loss system, and the “invisible hand” of competitive cooperation through the peaceful and the voluntarist pursuit of self-interest. He suffers from a confused, garbled, and contradictory grab bag of ideas derived from Marxism, Fabian socialism, nationalism, fascism, and, though it would be radically and vehemently denied, often-subtle forms of racism, as well.
  • Through all the progressive’s rhetoric about “democracy” and “equality” and “social justice” and “diversity,” theirs is a political philosophy and public policy ideology of elitism, hubris, and authoritarianism dominated by the idea and ideal of remaking human beings, human relationships and the structure and order of society into redesigned patterns and shapes that reflect their notion of how people should live, work, associate and earn a living.
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    "Conflicting Meanings of Freedom For a classical liberal, freedom means that each individual possesses as a human being certain inviolable rights, those being rights to his life, liberty and honestly acquired property. And that human relationships should be based on voluntary consent and mutual agreement. For my interlocutor, freedom means "empowerment" or the ability to do or achieve certain things, without which "freedom" is not complete. These include a minimum or "decent" standard of living and the ability to attain certain potentials in life, which are everyone's "right" as a member of society. For my fellow conversationalist, society is a shared "community" of human beings each of whom owes certain things to the others, just as the others owe certain things to us. Society might be viewed as an extended family, from this perspective, all the members of which have certain required obligations to support and give assistance to their social "relatives." I suggested that society is a network of human relationships formed between individuals based upon opportunities for mutual betterment, including both the economic and the cultural in the widest sense, the fundamental foundation of which derives from those essential individual rights. The "Social Contract": Individualist or Collectivist? My dinner companion raised the issue of "the social contract," to which we are all participants and benefactors, he said. He referenced the famous French eighteenth century philosopher, Jean-Jacque Rousseau, who reasoned that man began as savages in the wild threatened by both beast and other men. Everyone entered into a social contract and formed society for mutual safety and betterment by giving up a portion of their complete and unrestrained "freedom" in that earlier setting of savagery for the order and security of shared community. The freedom given up is compensated by safety and the security of mutual aid, including the modern welf
Gary Edwards

What was the single deadliest hour in human history? - Quora - 0 views

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    "On October 27, 1962, the world almost descended into a full blown nuclear war, a war that could have wiped out major chunks of mankind. That day, the world came closest to the initiation of a third world war. This happened at the height of the US-Soviet cold war in the final stages of the Cuban missile crisis. Soviet Union had deployed nuclear warhead missiles in Cuba just a few hundred miles away from the US coast. It was proving to be a matter of grave concern as negotiations went underway with a looming threat of US invasion of Cuba and an eventual US-Soviet war. On October 27, a Soviet submarine had been docked in the Cuban waters for some days. The US navy had already formed a blockade to stop any armed Soviet ships. Even though, the crisis was getting close to be resolved through diplomatic dialogue, the Soviet submarine was not in contact with their government and were thus still under the impression that a war was looming large. The US navy soon registered the presence of the submarine and fired, without warning, depth grenades to force it to surface. But the US navy was unaware that the Soviet submarine was equipped with nuclear torpedoes. The submarine captains were still operating under the old orders of their government, which were to launch the nuclear torpedoes if they are attacked by Americans. The submarine commanders were now in a position to launch nuclear strikes, which would have started a nuclear war between the two heavyweights. The fate of the world was hanging by a thread. There were three officers on the submarine and any strike required the approval of all of them. Two officers were quickly in favor of the nuclear strike, but commander Vasili Arkhipov was in opposition. In those precarious moments, he was able to hold his own and convince the other two to avert the strikes and surface. As a result, the submarine surfaced and eventually returned home. Those few minutes were probably the deadliest minutes in modern history, havin
Gary Edwards

Why GOP Bigwigs Fear Trump - Consortiumnews - 0 views

  • An even bigger disjunction represented by the Republican Party is between the economic interests of a wealthy elite and the fears, xenophobia, and social-issue fixations of the hoi polloi whose votes the elite relies on to put its preferred economic policies in place. Not only is there no logical, substantive connection between these two aspects of what has come to be the Republican agenda; the economic policies are contrary to the interests of most of the ordinary citizens who are casting the votes.
  • The basic divide underlying this part of the Republican disjunction is between the one percent that provides the money to political candidates and that portion of the 99 percent that is the target of the campaigns that this money finances and who have been voting for those candidates.
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    "A desperate Republican establishment is going all out to stop Donald Trump who has rallied the GOP "base" that the bigwigs have long manipulated and sold out, explains ex-CIA analyst Paul R. Pillar. By Paul R. Pillar The Donald Trump phenomenon and the suddenly frantic efforts within the Republican Party to try to stop Trump have led some observers to believe American politics are at a major inflection point, one where a familiar line-up of political parties and their backers could be substantially revised. Even some commentators who generally support the Republican Party are talking seriously about the possibility of the party breaking up. There is some valid basis for such talk, given that this party has come to embrace positions and interests that have no business sticking together. The political coalition has more or less worked, but it has not rested on substantive logic. So a destabilizing iconoclast with just enough political cleverness, as Trump has, can expose the artificiality of it rather easily. Republican presidential candidate Donald Trump. Foreign policy is not the main front on which the exposure is taking place, but it may be among the first places where exposure becomes too obvious to ignore. Neoconservatives, whose realization of their earlier plans, culminating in the launching of a major offensive war in the Middle East, was made possible by infiltrating the foreign policy of a Republican administration, already are looking for a new home. That process may accelerate if Marco Rubio loses the Florida primary. The fragility of this part of what has been the Republican coalition is demonstrated by how little Trump has had to do to cause the neoconservative alarm bells to sound. He has not even advanced a coherent alternative foreign policy to shoot down. All he has done is to stray slightly from neoconservative orthodoxy: pointing out that the Iraq War was a big mistake and - even though Trump declares himself to be a strong supporte
Gary Edwards

DEAR RNC: An Everyday American Writes A Letter To Explain The Trump Phenomeno... - 1 views

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    "It doesn't matter who you support for President in 2016. This letter will make you want to stand up and cheer for the 80 year old American who expresses what most of us are feeling right now. Enjoy…"
Gary Edwards

STRATFOR George Friedman predictions for the future - Business Insider - 1 views

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    excellent read with lots of non political reality based thinking. good stuff, even if you disagree. "George Friedman founded Strategic Forecasting in 1996. Stratfor's existence is based on the controversial but now influential premise that geopolitical events can be anticipated and even predicted in ways that can benefit private-sector actors. Friedman stayed at the pioneering political-risk firm until May 2015, when he left to found a new company called Geopolitical Futures. Friedman is a commentator on international affairs and author of the book "The Next 100 Years." He spoke to Business Insider earlier this month about the future of war, the next stage in the European debt crisis, and how and whether it's even possible to predict what's coming next. This interview has been edited for length and clarity."
Gary Edwards

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

  • 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.
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    "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
Gary Edwards

Articles: Socialist Sweep New Hampshire - 1 views

  • In case this confuses you: According to Trump, the problem is business, not government.
  • Additionally, it seems the Donald thinks that big pharma and big hospital and big insurance went to Obama and begged him to totally ruin our health care system.  Either that or he's just flat pandering and lying because he thinks the odd ball liberals in New Hampshire will lap it up.  Obviously they did.
  • Oh, and for the record, underlying Trump's premise is that only rich people should run for office.  Now there's a conservative principle if there ever was one
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  • For decades – as we all know – Trump has been an advocate for universal government health care.
  • And while now he promises to replace Obamacare "with something terrific," other than mentioning something about state lines, his rhetoric reeks of a big-government program and has nothing to do with market economics.
  • He's said very recently that "we're gonna take care of everybody" and that Ted Cruz was "heartless" for apparently wanting to immediately replace Obamacare without some government-based Cruzcare.
  • What the hell does it mean that "we" and "I" will take care of everybody?  It means our money and some iteration known as Trumpcare.
  • Trump is sounding like Bernie now and as Obama sounded in 2008-9-10.  We have to elect Trump to know what is in him, I guess.  But actually, we don't.  When you sound like a Marxist on health care and attack someone like Cruz the way a Marxist would attack someone like Cruz, then it follows logically to apply "the duck test."
  • Trump has promised to allow the government to negotiate drug prices — a common position among Democrats but rarely heard at nominally Republican events.
  • He said he would not raise military spending, arguing that the nation's defenses can be improved without increasing its already huge Pentagon budget.
  • He promised tough sanctions on American companies that move jobs overseas."
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    Shortly after Barack Obama swept into the White House while giving Nancy Pelosi and Harry Reid a coattail Marxist Congress, Newsweek Magazine ran the cover "We're all Socialists now," based on Jon Meacham's lead article with the same headline.  Without a doubt, the election of that president and that Congress moved reality closer to Meacham's point.  It was astonishing that liberal apologist Meacham admitted as much. Yet it took until last night before it was literally true, as New Hampshire gave a full-throated socialist a rout over semi-socialist Hillary Clinton on the Democrat side and the once and now apparently again socialist Donald Trump won the GOP primary after going left of Bernie Sanders in his final rallies in the state.  To translate, Obama's hope and change and fundamental transformation of the nation are right on track - barreling warp-speed to the left in both presidential primary contests.
Gary Edwards

Search for "cash" - Washington's Blog - 2 views

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    "Business, Investing, Economy, Politics, World News, Energy, Environment, Science, Technology" A Marbux favorite!
Gary Edwards

Disintegration of Iraq Will Take Days Now | New Eastern Outlook - 0 views

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    "As the international community was absorbed by the rapidly changing situation in Syria, where government forces are finally getting an upper hand, the situation in Iraq has slipped the attention of the better part of geopolitical analysts. The rapid developments that are taking place in Iraq may soon lead to the disintegration of the country. In fact, two strongholds of the Sunni population - the Al Anbar Governorate with the provincial capital in Ramadi and the Nineveh Governorate with the provincial capital in Mosul have completely broken away from the federal capital. The fact that the Sunni National Guard forces trained by US instructors have almost completely liberated the town of Ramadi from ISIL militants, after weeks of brutal assaults, is of little help in this situation. Even though the Western coalition deployed special forces from the US, Great Britain, Canada, Turkey and Saudi Arabia to assist the Sunni forces, ISIL retains control over the better part of Sunni populated areas of western and north-western Iraq, while confidently dominating the battlefield. In this situation the Iraqi government that is largely formed by representatives of Shia politicians are drafting a plan to create Sunni autonomy as a form of concession to Washington and the Sunni forces aligned with it. It is believed that this new autonomy formed by the two above mentioned governorates will largely influence the Kurdistan region as well. The Iraqi government is clearly in a hurry, since it believes that such a region can be formed out of three governorates, this time including the big and important Saladin Governorate with the provincial capital in Tikrit, located some 100 kilometers away from Baghdad. The sheer amount of support that the Islamic State enjoys in this governorate is staggering, but even more support is being enjoyed by the forces that were in power in the days of Saddam Hussein. These forces are being opposed by Shia militia units that have established thei
Gary Edwards

Hating the Establishment Is Not the Same as Supporting Liberty | Foundation for Economi... - 1 views

  • 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.
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  • 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.
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    "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."
Gary Edwards

Kibbe: Liberty, Or Just a New Boss - 0 views

  • Jeffrey Tucker’s sobering essay o
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    Original version: "Socialist Bernie Sanders is beating Hillary Clinton over the head with his figurative Birkenstocks, and The Donald is plowing through the Republican presidential field like a giant, perfectly coiffed, Stay Puft Marshmallow Man. The establishment is freaking out, and it's about damn time. Their collective panic suggests that entrenched interests finally understand that their world is threatened; that the rules have changed, that insider power is waning, that we are onto their game. We now know what the establishment has been up to behind the cloistered marble walls of our government, and we are royally pissed."
Gary Edwards

Will you choose liberty, or just a new boss? - Tea Party Command Center - 0 views

  • Let’s get our terms right first. “The establishment” is the network of special interests—politicians, crony capitalists, lobbyists and career bureaucrats—who feed at the public trough at the expense of the common good. Members of the establishment don’t like rocking the boat, because they have worked so hard to ensure that they are always the ones riding high and dry. “The establishment” is neither Democratic nor Republican, nor is it “liberal” or “conservative.” It’s not even “the rich” versus “the poor.” It is simply the cancer that can consume great nations when government gets too big, too involved, and too powerful.
  • Too much concentrated power in Washington always accrues to the benefit of the establishment, because they will always get to the table first.
  • Compromise is the currency, because that’s how everyone gets paid. Everyone wants something from someone. Everyone is looking for a play, wanting to cut a better deal.
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  • The real alternative to the tyranny of the D.C. establishment has always been more liberty, not a better, more benevolent despot. America’s genius comes from each of us, working together in voluntary cooperation to solve problems, from the bottom, up. We need a leader who gets it. Someone who respects our Constitution’s essential role in limiting power. Someone who wants to rein in intrusive government, and all of the inside dealers who feed off of it. A president can never give you liberty, but we should all insist on one who respects it.
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    "Socialist Bernie Sanders is beating Hillary Clinton over the head with his figurative Birkenstocks, and The Donald is plowing through the Republican presidential field like a giant, perfectly coiffed, Stay Puft Marshmallow Man. The establishment is freaking out, and it's about damn time. Their collective panic suggests that entrenched interests finally understand that their world is threatened; that the rules have changed, that insider power is waning, that we are onto their game. We now know what the establishment has been up to behind the cloistered marble walls of our government, and we are royally pissed. This is an opportunity of a lifetime, if we get it right. But you have to choose. Will you choose liberty, or just a new boss? Let's get our terms right first. "The establishment" is the network of special interests-politicians, crony capitalists, lobbyists and career bureaucrats-who feed at the public trough at the expense of the common good. Members of the establishment don't like rocking the boat, because they have worked so hard to ensure that they are always the ones riding high and dry. "The establishment" is neither Democratic nor Republican, nor is it "liberal" or "conservative." It's not even "the rich" versus "the poor." It is simply the cancer that can consume great nations when government gets too big, too involved, and too powerful. "Are you willing to hold your nose this time, cut the best deal you think you can, simply because you want to beat the establishment?" "The establishment" is the fortress of political inertia that makes it so difficult to reform Washington, or to stop "them" from spending money we don't have. They are just insiders with a seat at the table redirecting taxpayer resources to their benefit, and always resisting reformers and "outsiders" who might upset their apple cart."
Gary Edwards

Just 62 people control more wealth than half the world's population: study - CSMonitor.com - 1 views

  • Oxfam argues that there are several reasons for why the disparity between rich and poor has become so vast, including what the report terms “the global spider’s web of tax havens and the industry of tax avoidance, which has blossomed over recent decades.”Oxfam estimates that nearly $7.6 trillion, or more than twice the combined GDP of the United Kingdom and Germany, is currently being held offshore.
  • The Oxfam study also suggests that the global economy’s push on the importance of capital over labor is another reason for widening inequality. This not only concentrates national incomes in the hands of those few that control it, Oxfam says, but has implications for private companies as well. It increases pay for executives while preventing many workers in the very lowest-paying jobs at the bottom from earning higher wages.
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    "A recent study conducted by Oxfam International indicates that just 62 people, 53 of them men, now control over half the world's wealth. The study, 'An Economy for the 1 Percent,' was released ahead of the World Economic Forum (WEF) in Davos, Switzerland. The study from the anti-poverty NGO calculated that 62 people held the same amount of wealth as the world's 3.6 billion poorest citizens in 2015.  That's a huge drop from the estimated 388 people who controlled that amount of wealth in 2010, and the concentrated amount of wealth that those 62 people possess has increased by 44 percent over that same five-year period, to $1.76 trillion dollars. It is true that global poverty has declined substantially since 1990, according to Oxfam. However, the study found that at the same time that global wealth rose dramatically among the world's richest 1 percent, the relative wealth of those living in extreme poverty has declined dramatically since 2010, by approximately $1 trillion."
Gary Edwards

Russia Breaking Wall St Oil Price Monopoly | New Eastern Outlook - 0 views

  • In the period up until the end of the 1980’s world oil prices were determined largely by real daily supply and demand. It was the province of oil buyers and oil sellers. Then Goldman Sachs decided to buy the small Wall Street commodity brokerage, J. Aron in the 1980’s. They had their eye set on transforming how oil is traded in world markets. It was the advent of “paper oil,” oil traded in futures, contracts independent of delivery of physical crude, easier for the large banks to manipulate based on rumors and derivative market skullduggery, as a handful of Wall Street banks dominated oil futures trades and knew just who held what positions, a convenient insider role that is rarely mentioned inn polite company. It was the beginning of transforming oil trading into a casino where Goldman Sachs, Morgan Stanley, JP MorganChase and a few other giant Wall Street banks ran the crap tables.First appeared: http://journal-neo.org/2016/01/09/russia-breaking-wall-st-oil-price-monopoly/
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    "Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia's economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy. Later in November the Russian Energy Ministry has announced that it will begin test-trading of a new Russian oil benchmark. While this might sound like small beer to many, it's huge. If successful, and there is no reason why it won't be, the Russian crude oil benchmark futures contract traded on Russian exchanges, will price oil in rubles and no longer in US dollars. It is part of a de-dollarization move that Russia, China and a growing number of other countries have quietly begun. The setting of an oil benchmark price is at the heart of the method used by major Wall Street banks to control world oil prices. Oil is the world's largest commodity in dollar terms. Today, the price of Russian crude oil is referenced to what is called the Brent price. The problem is that the Brent field, along with other major North Sea oil fields is in major decline, meaning that Wall Street can use a vanishing benchmark to leverage control over vastly larger oil volumes. The other problem is that the Brent contract is controlled essentially by Wall Street and the derivatives manipulations of banks like Goldman Sachs, Morgan Stanley, JP MorganChase and Citibank. First appeared: http://journal-neo.org/2016/01/09/russia-breaking-wall-st-oil-price-monopoly/"
Gary Edwards

A Crisis Worse than ISIS? Bail-Ins Begin - nsnbc international | nsnbc international - 0 views

  • Propping Up the Derivatives Scheme Dodd-Frank states in its preamble that it will “protect the American taxpayer by ending bailouts.” But it does this under Title II by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors. That includes depositors, the largest class of unsecured creditor of any bank.
  • Title II is aimed at “ensuring that payout to claimants is at least as much as the claimants would have received under bankruptcy liquidation.” But here’s the catch: under both the Dodd Frank Act and the 2005 Bankruptcy Act, derivative claims have super-priority over all other claims, secured and unsecured, insured and uninsured.
  • The over-the-counter (OTC) derivative market (the largest market for derivatives) is made up of banks and other highly sophisticated players such as hedge funds. OTC derivatives are the bets of these financial players against each other. Derivative claims are considered “secured” because collateral is posted by the parties. For some inexplicable reason, the hard-earned money you deposit in the bank is not considered “security” or “collateral.” It is just a loan to the bank, and you must stand in line along with the other creditors in hopes of getting it back. State and local governments must also stand in line, although their deposits are considered “secured,” since they remain junior to the derivative claims with “super-priority.”
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  • Under the old liquidation rules, an insolvent bank was actually “liquidated” – its assets were sold off to repay depositors and creditors. Under an “orderly resolution,” the accounts of depositors and creditors are emptied to keep the insolvent bank in business.
  • The point of an “orderly resolution” is not to make depositors and creditors whole but to prevent another system-wide “disorderly resolution” of the sort that followed the collapse of Lehman Brothers in 2008.
  • The concern is that pulling a few of the dominoes from the fragile edifice that is our derivatives-laden global banking system will collapse the entire scheme. The sufferings of depositors and investors are just the sacrifices to be borne to maintain this highly lucrative edifice.
  • At first glance, the “bail-in” resembles the normal capitalist process of liabilities restructuring that should occur when a bank becomes insolvent. . . . The difference with the “bail-in” is that the order of creditor seniority is changed. In the end, it amounts to the cronies (other banks and government) and non-cronies. The cronies get 100% or more; the non-cronies, including non-interest-bearing depositors who should be super-senior, get a kick in the guts instead. . . . In principle, depositors are the most senior creditors in a bank. However, that was changed in the 2005 bankruptcy law, which made derivatives liabilities most senior. Considering the extreme levels of derivatives liabilities that many large banks have, and the opportunity to stuff any bank with derivatives liabilities in the last moment, other creditors could easily find there is nothing left for them at all.
  • A study involving the cost to taxpayers of the Dodd-Frank rollback slipped by Citibank into the “cromnibus” spending bill last December found that the rule reversal allowed banks to keep $10 trillion in swaps trades on their books. This is money that taxpayers could be on the hook for in another bailout; and since Dodd-Frank replaces bailouts with bail-ins, it is money that creditors and depositors could now be on the hook for.
  • As of September 2014, US derivatives had a notional value of nearly $280 trillion
  •  Citibank is particularly vulnerable to swaps on the price of oil. Brent crude dropped from a high of $114 per barrel in June 2014 to a low of $36 in December 2015.
  • What about FDIC insurance? It covers deposits up to $250,000, but the FDIC fund had only $67.6 billion in it as of June 30, 2015, insuring about $6.35 trillion in deposits. The FDIC has a credit line with the Treasury, but even that only goes to $500 billion; and who would pay that massive loan back? The FDIC fund, too, must stand in line behind the bottomless black hole of derivatives liabilities
  • You can move your money into one of the credit unions with their own deposit insurance protection; but credit unions and their insurance plans are also under attack.
  • In short, the goal of the bail-in scheme is to place losses on private creditors. Alternatives that allow them to escape could soon be blocked.
  • The Dodd Frank Act and the Bankruptcy Reform Act both need a radical overhaul, and the Glass-Steagall Act (which put a fire wall between risky investments and bank deposits) needs to be reinstated.
  • Meanwhile, local legislators would do well to set up some publicly-owned banks on the model of the state-owned Bank of North Dakota – banks that do not gamble in derivatives and are safe places to store our public and private funds.
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    Excellent analysis of the coming banking crisis anw how our politicians have put the citizens on the hook for risky bank derivative gambling.  Thanks Marbux! Ellen H. Brown (nsnbc) : While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US.  Poverty also kills.
Gary Edwards

Hersh, Gauthier and the Coming of Terror in Xinjiang - 0 views

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    "Seymour Hersh created a stir with his most recent piece in the London Review of Books, Military to Military. Hersh reported that the Joint Chiefs of Staff under General Dempsey had actively sabotaged President Obama's Syria policy in 2013, when they took issue with the White House's apparent acquiescence to Turkey secretly funneling support to unvetted Islamist militants. The anti-Hersh forces have been in full cry but his claims appears credible.  Quite possibly, the Pentagon has fallen out of love with wonk-warrior COIN fetish for the umpteenth time, and has returned to the reassuring "massive use of conventional forces in pursuit of explicit US goals" Powell Doctrine.  Anyway, plenty of grist for the mill. My interest, naturally, was attracted to Hersh's description of a "Uyghur rat-line" organized by Turkey to funnel militants from the PRC's Xinjiang Autonomous Region into Syria:"
Gary Edwards

Putin's Progress in Syria Sends Kerry Scampering to the United Nations - 0 views

  • And, keep in mind, Kerry didn’t drag his case before the UN Security Council because he’s serious about a negotiated settlement or peace. That’s baloney. What Kerry wants is a resolution that will protect the groups of US-backed jihadis on the ground from the Russian-led offensive. That’s what’s really going on. The Obama administration sees the handwriting on the wall. They know that Russia is going to win the war, so they’ve settled on a plan for protecting their agents in the field. That’s why the emphasis is on a ceasefire; it’s because Kerry wants a  “Timeout” so his Sunni militants can either regroup or retreat.  Just take a look at this short excerpt from the UN’s summary of last Friday’s confab and you’ll see Kerry’s really up-to:
  • The truth is the Obama administration is just as committed to toppling Assad as ever. Kerry was just misleading Putin to get his approval for his ridiculous resolution at the UN.  As a result, Assad’s name was never mentioned in the resolution which,  Kerry seems to think, is a big victory for the US. But it’s not a victory, in fact, all of Russia’s demands were met in full through the passing of UN Resolution  2254 (three resolutions were passed on Friday) which reiterates all Putin’s demands dating back to the Geneva Communique’ of 2012.  Assad was never mentioned in 2254 either, because naming the president wasn’t necessary to establish the conditions for 1–a transitional government, 2–outlining the terms for a new constitution and  a non-Islamist Syrian state, and 3—free and fair elections to ensure the Syrian people control their own future. In 2012, the US rejected these three provisions saying that the would not agree unless Assad was excluded from participating in the transitional government. Now the US has reversed its position on Assad which means that 100 percent of Moscow’s demands have been met.  UN Resolution  2254 is complete capitulation on the part of the US. It is a humiliating diplomatic defeat which no one in the media is even willing to acknowledge.
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    Great catch from Marbux. If the opening statement in this article doesn't get your attention, nothing will. ""It is remarkable that western leaders only remember the term ceasefire when their rebels on the ground are losing. Why didn't they see the need for peace in Syria before the Russian operation started?" - Iyad Khuder, Damascus-based political analyst Imagine if the American people elected a president who was much worse than George W. Bush or Barack Obama. A real tyrant. Would that be sufficient justification for someone like Vladimir Putin to arm and train Mexican and Canadian mercenaries to invade America, kill US civilians, destroy cities and critical infrastructure, seize vital oil refineries and pipeline corridors, behead government officials and prisoners they'd captured, declare their own independent state, and do everything in their power to overthrow the elected-government in Washington? Of course not. The question is ridiculous. It wouldn't matter if the US president was a tyrant or not, that doesn't justify an invasion by armed proxies from another country.  And yet, this is precisely the policy that US Secretary of State John Kerry defended at the United Nations on Friday.  Behind all the political blabber about a "roadmap to peace", Kerry was tacitly defending a policy which has led to the deaths of 250,000 Syrians and the destruction of the country."
Gary Edwards

The Fourth Industrial Revolution: what it means and how to respond - Agenda - The World... - 0 views

  • The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.
  • Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world. To date, those who have gained the most from it have been consumers able to afford and access the digital world; technology has made possible new products and services that increase the efficiency and pleasure of our personal lives. Ordering a cab, booking a flight, buying a product, making a payment, listening to music, watching a film, or playing a game—any of these can now be done remotely.
  • In the future, technological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and productivity. Transportation and communication costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth.
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  • As automation substitutes for labor across the entire economy, the net displacement of workers by machines might exacerbate the gap between returns to capital and returns to labor. On the other hand, it is also possible that the displacement of workers by technology will, in aggregate, result in a net increase in safe and rewarding jobs.
  • I am convinced of one thing—that in the future, talent, more than capital, will represent the critical factor of production.
  • This will give rise to a job market increasingly segregated into “low-skill/low-pay” and “high-skill/high-pay” segments, which in turn will lead to an increase in social tensions.
  • In addition to being a key economic concern, inequality represents the greatest societal concern associated with the Fourth Industrial Revolution.
  • The largest beneficiaries of innovation tend to be the providers of intellectual and physical capital—the innovators, shareholders, and investors—which explains the rising gap in wealth between those dependent on capital versus labor.
  • Technology is therefore one of the main reasons why incomes have stagnated, or even decreased, for a majority of the population in high-income countries: the demand for highly skilled workers has increased while the demand for workers with less education and lower skills has decreased. The result is a job market with a strong demand at the high and low ends, but a hollowing out of the middle.
  • A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction.
  • An underlying theme in my conversations with global CEOs and senior business executives is that the acceleration of innovation and the velocity of disruption are hard to comprehend or anticipate and that these drivers constitute a source of constant surprise, even for the best connected and most well informed. Indeed, across all industries, there is clear evidence that the technologies that underpin the Fourth Industrial Revolution are having a major impact on businesses.
  • On the supply side, many industries are seeing the introduction of new technologies that create entirely new ways of serving existing needs and significantly disrupt existing industry value chains. Disruption is also flowing from agile, innovative competitors who, thanks to access to global digital platforms for research, development, marketing, sales, and distribution, can oust well-established incumbents faster than ever by improving the quality, speed, or price at which value is delivered.
  • Major shifts on the demand side are also occurring, as growing transparency, consumer engagement, and new patterns of consumer behavior (increasingly built upon access to mobile networks and data) force companies to adapt the way they design, market, and deliver products and services.
  • A key trend is the development of technology-enabled platforms that combine both demand and supply to disrupt existing industry structures, such as those we see within the “sharing” or “on demand” economy. These technology platforms, rendered easy to use by the smartphone, convene people, assets, and data—thus creating entirely new ways of consuming goods and services in the process. In addition, they lower the barriers for businesses and individuals to create wealth, altering the personal and professional environments of workers. These new platform businesses are rapidly multiplying into many new services, ranging from laundry to shopping, from chores to parking, from massages to travel.
  • On the whole, there are four main effects that the Fourth Industrial Revolution has on business—on customer expectations, on product enhancement, on collaborative innovation, and on organizational forms.
  • Overall, the inexorable shift from simple digitization (the Third Industrial Revolution) to innovation based on combinations of technologies (the Fourth Industrial Revolution) is forcing companies to reexamine the way they do business. The bottom line, however, is the same: business leaders and senior executives need to understand their changing environment, challenge the assumptions of their operating teams, and relentlessly and continuously innovate.
  • governments will increasingly face pressure to change their current approach to public engagement and policymaking, as their central role of conducting policy diminishes owing to new sources of competition and the redistribution and decentralization of power that new technologies make possible.
  • Ultimately, the ability of government systems and public authorities to adapt will determine their survival. If they prove capable of embracing a world of disruptive change, subjecting their structures to the levels of transparency and efficiency that will enable them to maintain their competitive edge, they will endure. If they cannot evolve, they will face increasing trouble.
  • In the end, it all comes down to people and values. We need to shape a future that works for all of us by putting people first and empowering them. In its most pessimistic, dehumanized form, the Fourth Industrial Revolution may indeed have the potential to “robotize” humanity and thus to deprive us of our heart and soul. But as a complement to the best parts of human nature—creativity, empathy, stewardship—it can also lift humanity into a new collective and moral consciousness based on a shared sense of destiny. It is incumbent on us all to make sure the latter prevails.
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